Product Code: PM2992
The generative AI market size is expected to reach USD 283.37 billion by 2034, according to a new study by Polaris Market Research. The report "Generative AI Market Size, Share, Trends, Industry Analysis Report: By Component (Software and Services), Technology, End Use, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Generative AI refers to algorithms designed to create new content, such as text, images, music, or video, by learning patterns from existing data. Techniques such as machine learning and neural networks enable the production of unique outputs that mimic human creativity.
The growing adoption of AI in creative industries is significantly boosting the generative AI market demand. Creative fields, including advertising, design, entertainment, and gaming, increasingly rely on AI-driven solutions to boost productivity and innovation. Generative AI tools empower artists, marketers, and content creators to quickly generate ideas, visuals, and narratives, allowing more time for strategic work. Graphic designers use AI to produce complex visuals rapidly, and filmmakers take advantage of AI for scriptwriting and storyboarding. This shift of incorporating AI into creative processes is enhancing the entertainment and media sectors, where AI-generated content has gained popularity.
The expansion of AI applications across diverse industries contributes to the rapid generative AI market growth. Sectors such as healthcare, finance, manufacturing, and retail recognize the potential of generative AI in optimizing operations and unlocking new opportunities. In healthcare, AI generates synthetic medical data to improve diagnostics and accelerate drug discovery. In finance, AI provides insights and forecasts to support investment decisions. The market is set to grow further, with more industries embracing the benefits of generative AI.
Generative AI Market Report Highlights
Based on component, the software segment led the generative AI market in 2024 due to its diverse applications, efficient data processing, and ability to enhance operational efficiency, automation, and personalized experiences across industries.
By technology, the diffusion networks segment is projected to grow rapidly, driven by increasing demand for image synthesis across industries such as healthcare, automotive, and entertainment, improving efficiency, decision-making, and customer experiences.
North America leads the generative AI market, driven by high investments, strong tech ecosystems, government support, and regulatory frameworks, fostering AI adoption across sectors such as healthcare, finance, and entertainment.
Asia Pacific is witnessing the fastest growth, driven by substantial investments in AI research and infrastructure across major economies such as China, Japan, India, and South Korea.
A few global key market players are Amazon Web Services; Microsoft Corporation; Synthesia; MOSTLY AI; Google LLC; Rephrase.ai; Adobe; Meta; Oracle Corporation; Hewlett Packard Enterprise; Intel Corporation; Siemens; NVIDIA; and SAP SE
Polaris Market Research has segmented the generative AI market report on the basis of component, technology, end use, and region:
By Component Outlook (Revenue, USD Billion, 2021-2034)
By Technology Outlook (Revenue, USD Billion, 2021-2034)
- Generative Adversarial Networks
- Transformers
- Variational Auto-encoders
- Diffusion Networks
By End Use Outlook (Revenue, USD Billion, 2021-2034)
- Media & Entertainment
- BFSI
- IT & Telecommunication
- Healthcare
- Automotive & Transportation
- Others
By Regional Outlook (Revenue, USD Billion, 2021-2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Source
- 3.2.1. Primary Source
- 3.2.2. Secondary Source
4. Global Generative AI Market Insights
- 4.1. Generative AI Market - Market Snapshot
- 4.2. Generative AI Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising investment in AI research and development.
- 4.2.1.2. Rapid growth in cloud computing infrastructure.
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Data Privacy and Security Concerns
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Generative AI Market End Use Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Generative AI Market, by Component
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Generative AI Market, by Component, 2020-2034 (USD Billion)
- 5.3. Software
- 5.3.1. Global Generative AI Market, by Software, by Region, 2020-2034 (USD Billion)
- 5.4. Services
- 5.4.1. Global Generative AI Market, by Services, by Region, 2020-2034 (USD Billion)
6. Global Generative AI Market, by Technology
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 6.3. Generative Adversarial Networks
- 6.3.1. Global Generative AI Market, by Generative Adversarial Networks, by Region, 2020-2034 (USD Billion)
- 6.4. Transformers
- 6.4.1. Global Generative AI Market, by Transformers, by Region, 2020-2034 (USD Billion)
- 6.5. Variational Auto-encoders
- 6.5.1. Global Generative AI Market, by Variational Auto-encoders, by Region, 2020-2034 (USD Billion)
- 6.6. Diffusion Networks
- 6.6.1. Global Generative AI Market, by Diffusion Networks, by Region, 2020-2034 (USD Billion)
7. Global Generative AI Market, by End Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 7.3. Media & Entertainment
- 7.3.1. Global Generative AI Market, by Media & Entertainment, by Region, 2020-2034 (USD Billion)
- 7.4. BFSI
- 7.4.1. Global Generative AI Market, by BFSI, by Region, 2020-2034 (USD Billion)
- 7.5. IT & Telecommunication
- 7.5.1. Global Generative AI Market, by IT & Telecommunication, by Region, 2020-2034 (USD Billion)
- 7.6. Healthcare
- 7.6.1. Global Generative AI Market, by Healthcare, by Region, 2020-2034 (USD Billion)
- 7.7. Automotive & Transportation
- 7.7.1. Global Generative AI Market, by Automotive & Transportation, by Region, 2020-2034 (USD Billion)
- 7.8. Others
- 7.8.1. Global Generative AI Market, by Others, by Region, 2020-2034 (USD Billion)
8. Global Generative AI Market, by Geography
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Generative AI Market Assessment, By Geography, 2020-2034 (USD Billion)
- 8.3. Generative AI Market - North America
- 8.3.1. North America: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.3.2. North America: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.3.3. North America: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.3.4. Generative AI Market - U.S.
- 8.3.4.1. U.S.: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.3.4.2. U.S.: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.3.4.3. U.S.: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.3.5. Generative AI Market - Canada
- 8.3.5.1. Canada: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.3.5.2. Canada: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.3.5.3. Canada: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.4. Generative AI Market - Europe
- 8.4.1. Europe: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.4.2. Europe: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.4.3. Europe: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.4.4. Generative AI Market - UK
- 8.4.4.1. UK: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.4.4.2. UK: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.4.4.3. UK: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.4.5. Generative AI Market - France
- 8.4.5.1. France: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.4.5.2. France: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.4.5.3. France: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.4.6. Generative AI Market - Germany
- 8.4.6.1. Germany: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.4.6.2. Germany: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.4.6.3. Germany: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.4.7. Generative AI Market - Italy
- 8.4.7.1. Italy: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.4.7.2. Italy: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.4.7.3. Italy: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.4.8. Generative AI Market - Spain
- 8.4.8.1. Spain: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.4.8.2. Spain: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.4.8.3. Spain: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.4.9. Generative AI Market - Netherlands
- 8.4.9.1. Netherlands: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.4.9.2. Netherlands: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.4.9.3. Netherlands: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.4.10. Generative AI Market - Russia
- 8.4.10.1. Russia: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.4.10.2. Russia: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.4.10.3. Russia: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.4.11. Generative AI Market - Rest of Europe
- 8.4.11.1. Rest of Europe: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.4.11.2. Rest of Europe: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.4.11.3. Rest of Europe: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.5. Generative AI Market - Asia Pacific
- 8.5.1. Asia Pacific: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.5.2. Asia Pacific: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.5.3. Asia Pacific: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.5.4. Generative AI Market - China
- 8.5.4.1. China: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.5.4.2. China: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.5.4.3. China: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.5.5. Generative AI Market - India
- 8.5.5.1. India: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.5.5.2. India: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.5.5.3. India: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.5.6. Generative AI Market - Malaysia
- 8.5.6.1. Malaysia: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.5.6.2. Malaysia: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.5.6.3. Malaysia: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.5.7. Generative AI Market - Japan
- 8.5.7.1. Japan: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.5.7.2. Japan: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.5.7.3. Japan: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.5.8. Generative AI Market - Indonesia
- 8.5.8.1. Indonesia: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.5.8.2. Indonesia: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.5.8.3. Indonesia: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.5.9. Generative AI Market - South Korea
- 8.5.9.1. South Korea: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.5.9.2. South Korea: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.5.9.3. South Korea: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.5.10. Generative AI Market - Australia
- 8.5.10.1. Australia: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.5.10.2. Australia: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.5.10.3. Australia: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.5.11. Generative AI Market - Rest of Asia Pacific
- 8.5.11.1. Rest of Asia Pacific: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.5.11.2. Rest of Asia Pacific: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.5.11.3. Rest of Asia Pacific: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.6. Generative AI Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.6.2. Middle East & Africa: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.6.3. Middle East & Africa: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.6.4. Generative AI Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.6.4.2. Saudi Arabia: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.6.4.3. Saudi Arabia: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.6.5. Generative AI Market - UAE
- 8.6.5.1. UAE: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.6.5.2. UAE: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.6.5.3. UAE: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.6.6. Generative AI Market - Israel
- 8.6.6.1. Israel: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.6.6.2. Israel: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.6.6.3. Israel: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.6.7. Generative AI Market - South Africa
- 8.6.7.1. South Africa: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.6.7.2. South Africa: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.6.7.3. South Africa: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.6.8. Generative AI Market - Rest of Middle East & Africa
- 8.6.8.1. Rest of Middle East & Africa: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.6.8.2. Rest of Middle East & Africa: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.6.8.3. Rest of Middle East & Africa: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.7. Generative AI Market - Latin America
- 8.7.1. Latin America: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.7.2. Latin America: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.7.3. Latin America: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.7.4. Generative AI Market - Mexico
- 8.7.4.1. Mexico: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.7.4.2. Mexico: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.7.4.3. Mexico: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.7.5. Generative AI Market - Brazil
- 8.7.5.1. Brazil: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.7.5.2. Brazil: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.7.5.3. Brazil: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.7.6. Generative AI Market - Argentina
- 8.7.6.1. Argentina: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.7.6.2. Argentina: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.7.6.3. Argentina: Generative AI Market, by End Use, 2020-2034 (USD Billion)
- 8.7.7. Generative AI Market - Rest of Latin America
- 8.7.7.1. Rest of Latin America: Generative AI Market, by Component, 2020-2034 (USD Billion)
- 8.7.7.2. Rest of Latin America: Generative AI Market, by Technology, 2020-2034 (USD Billion)
- 8.7.7.3. Rest of Latin America: Generative AI Market, by End Use, 2020-2034 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Amazon Web Services
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Microsoft Corporation
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Synthesia
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. MOSTLY AI
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Google LLC
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Rephrase.ai
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Adobe
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Meta
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Oracle Corporation
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Hewlett Packard Enterprise
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Intel Corporation
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Siemens
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. NVIDIA
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. SAP SE
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development