Global Generative AI Market is valued at approximately USD 8339.2 million in 2021 and is anticipated to grow with a healthy growth rate of more than 34.73% over the forecast period 2022-2029. Generative AI is a form of artificial intelligence that uses machine learning algorithms to produce new, original data or material. This is specially designed to generate images, music, text, or other types of media. Additionally, generative AI has been tested in business to improve data for robotics process automation as well as in manufacturing as a tool for fast prototyping (RPA). The surge in the demand for machine learning and deep learning, coupled with the increasing adoption of transformers applications are the key factors that are stipulating the market demand across the globe.
The increasing government initiatives in artificial intelligence are acting as a catalyzing factor for the growth of the global market. The National Security Commission on Artificial Intelligence the Biden administration reported that the Biden administration's fiscal 2023 budget plan is for raising the government R&D budget to USD 204 billion, a 28% increase over financial year 2021 authorized levels. Part of that funding is likely to support new and existing National AI Research Institutes to bring federal, state, and local agencies together with the private sector, non-profits, and academics to tackle AI based research and workforce development challenges. Therefore, these aforementioned factors are likely to exhibit a positive influence on market expansion at a substantial rate. Moreover, the increasing use of generative AI for building virtual worlds in the metaverse, as well as rising investments in Research & Development (R&D) activities are presenting various lucrative opportunities over the forecasting years. However, the lack of skilled professionals is challenging the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Generative AI Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue of USD 3059.5, owing to the rising funding investment of Artificial intelligence services, and rising initiatives for the adoption of generative AI applications in the region. Whereas, the Asia Pacific is also expected to grow with the highest CAGR of 37.65% during the forecast period, owing to factors such as rising deployment of AI related technologies, rising investment in AI technologies, rising research and development of Generative AI, and rising animation industry in the market space.
Major market players included in this report are:
- Synthesia
- MOSTLY AI Inc.
- Genie AI Ltd.
- Amazon Web Services, Inc.
- IBM
- Google LLC
- Microsoft
- Adobe
- Rephrase.ai
- D-ID
Recent Developments in the Market:
- In January 2022, MOSTLY AI raised a fund of around USD 25 million in order to bring synthetic data across enterprises. It is deemed Europe's largest synthetic data investment which aims to build smarter AI platforms. It is a joint venture investment by Molten Ventures with participation from existing investors Earlybird and 42CAP, and new investor Citi Ventures.
- In December 2022, Amazon Web Services, Inc. announced the launch of stability AI. Stability AI selected AWS as its preferred cloud provider to build and scale its AI models for language, audio, video, and 3D content generation. Along with this Stability AI will collaborate with AWS to make its open-source tools and models available to students, researchers, startups, and enterprises around the world.
Global Generative AI Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Component, Technology, End-use, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Component:
By Technology:
- Generative Adversarial Networks (GANs)
- Transformers
- Variational auto-encoders
- Diffusion Networks
By End-use:
- Media & Entertainment
- BFSI
- IT & Telecommunication
- Healthcare
- Automotive & Transportation
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
- 1.2.1. Generative AI Market, by Region, 2019-2029 (USD Million)
- 1.2.2. Generative AI Market, by Component, 2019-2029 (USD Million)
- 1.2.3. Generative AI Market, by Technology, 2019-2029 (USD Million)
- 1.2.4. Generative AI Market, by End-use, 2019-2029 (USD Million)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Generative AI Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Generative AI Market Dynamics
- 3.1. Generative AI Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing adoption of transformers applications
- 3.1.1.2. Rising demand for machine learning and deep learning
- 3.1.1.3. Increasing govt initiatives in AI
- 3.1.2. Market Challenges
- 3.1.2.1. Lack of skilled professionals
- 3.1.3. Market Opportunities
- 3.1.3.1. Increasing use of generative AI for building virtual worlds in the metaverse
- 3.1.3.2. Rising investments in Research & Development (R&D) activities
Chapter 4. Global Generative AI Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Generative AI Market, by Component
- 6.1. Market Snapshot
- 6.2. Global Generative AI Market by Component, Performance - Potential Analysis
- 6.3. Global Generative AI Market Estimates & Forecasts by Component 2019-2029 (USD Million)
- 6.4. Generative AI Market, Sub Segment Analysis
- 6.4.1. Software
- 6.4.2. Services
Chapter 7. Global Generative AI Market, by Technology
- 7.1. Market Snapshot
- 7.2. Global Generative AI Market by Technology, Performance - Potential Analysis
- 7.3. Global Generative AI Market Estimates & Forecasts by Technology 2019-2029 (USD Million)
- 7.4. Generative AI Market, Sub Segment Analysis
- 7.4.1. Generative Adversarial Networks (GANs)
- 7.4.2. Transformers
- 7.4.3. Variational auto-encoders
- 7.4.4. Diffusion Networks
Chapter 8. Global Generative AI Market, by End-use
- 8.1. Market Snapshot
- 8.2. Global Generative AI Market by End-use, Performance - Potential Analysis
- 8.3. Global Generative AI Market Estimates & Forecasts by End-use 2019-2029 (USD Million)
- 8.4. Generative AI Market, Sub Segment Analysis
- 8.4.1. Media & Entertainment
- 8.4.2. BFSI
- 8.4.3. IT & Telecommunication
- 8.4.4. Healthcare
- 8.4.5. Automotive & Transportation
- 8.4.6. Others
Chapter 9. Global Generative AI Market, Regional Analysis
- 9.1. Generative AI Market, Regional Market Snapshot
- 9.2. North America Generative AI Market
- 9.2.1. U.S. Generative AI Market
- 9.2.1.1. Component breakdown estimates & forecasts, 2019-2029
- 9.2.1.2. Technology breakdown estimates & forecasts, 2019-2029
- 9.2.1.3. End-use breakdown estimates & forecasts, 2019-2029
- 9.2.2. Canada Generative AI Market
- 9.3. Europe Generative AI Market Snapshot
- 9.3.1. U.K. Generative AI Market
- 9.3.2. Germany Generative AI Market
- 9.3.3. France Generative AI Market
- 9.3.4. Spain Generative AI Market
- 9.3.5. Italy Generative AI Market
- 9.3.6. Rest of Europe Generative AI Market
- 9.4. Asia-Pacific Generative AI Market Snapshot
- 9.4.1. China Generative AI Market
- 9.4.2. India Generative AI Market
- 9.4.3. Japan Generative AI Market
- 9.4.4. Australia Generative AI Market
- 9.4.5. South Korea Generative AI Market
- 9.4.6. Rest of Asia Pacific Generative AI Market
- 9.5. Latin America Generative AI Market Snapshot
- 9.5.1. Brazil Generative AI Market
- 9.5.2. Mexico Generative AI Market
- 9.5.3. Rest of Latin America Generative AI Market
- 9.6. Rest of The World Generative AI Market
Chapter 10. Competitive Intelligence
- 10.1. Top Market Strategies
- 10.2. Company Profiles
- 10.2.1. Synthesia
- 10.2.1.1. Key Information
- 10.2.1.2. Overview
- 10.2.1.3. Financial (Subject to Data Availability)
- 10.2.1.4. Product Summary
- 10.2.1.5. Recent Developments
- 10.2.2. MOSTLY AI Inc.
- 10.2.3. Genie AI Ltd.
- 10.2.4. Amazon Web Services, Inc.
- 10.2.5. IBM
- 10.2.6. Google LLC
- 10.2.7. Microsoft
- 10.2.8. Adobe
- 10.2.9. Rephrase.ai
- 10.2.10. D-ID
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption