The latest research study “Generative AI Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global generative AI market size is expected to exhibit a CAGR of 19.80% during 2022-2027.
Generative artificial intelligence (AI) is a technology that utilizes machine learning (ML) and AI algorithms to enable devices to generate new digital texts, images, videos, code, and artificial audio content. It allows computers to learn underlying patterns relevant to input and create similar content through generative adversarial networks (GANs), transformers (GPT-3, LaMDA, Wu-Dao), and variational autoencoders. It also offers numerous advantages, such as reduced financial and reputational risks, enhanced comprehension of abstract theories, efficient creation of high-quality content, and improved identity protection. As a result, generative AI is extensively utilized across various industries, including information and technology (IT), robotics, healthcare, education, marketing, entertainment, banking, financial services, and insurance (BFSI).
Generative AI Market Trends and Drivers:
The market is primarily driven by the expansion of the information technology (IT) industry. In addition, the extensive usage of AI-integrated systems across numerous verticals to improve agility and productivity is contributing to market growth. Moreover, the increasing utilization of generative AI in the media and entertainment sector for the smart processing of low-resolution images and videos is providing a thrust to market growth. Besides this, the rising product adoption in the healthcare industry to render several products, such as prosthetic limbs, and organic molecules from scratch using 3D printing solutions, represents another significant growth-inducing factor. Along with this, the growing popularity of generative AI for assisting chatbots in creating effective conversations and boosting customer satisfaction is also propelling market growth. Furthermore, the increasing penetration of generative AI across the banking, financial services, and insurance (BFSI) industry for trading prediction, fraud detection, synthetic data generation, and risk factor modeling is creating a positive market outlook across the globe.
Moreover, the widespread adoption of generative AI in the media and entertainment vertical for the smart processing of low-resolution images and videos is also catalyzing the market growth. Besides this, the increasing demand for generative AI in the healthcare sector for rendering numerous products, including prosthetic limbs and organic molecules from scratch using 3D printing solutions, is creating a positive outlook for the global market.
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Generative AI Market Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Offering Type:
- Image
- Video
- Speech
- Others
Breakup by Technology Type:
- Autoencoders
- Generative Adversarial Networks
- Others
Breakup by Application:
- Healthcare
- Generative Intelligence
- Media and Entertainment
- Others
By Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Million |
| Segment Coverage | Offering Type, Technology Type, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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