Global Generative Artificial Intelligence Market Size, Share, Growth & Trends, Analysis by 2032

 The global generative Artificial Intelligence (AI) market size was USD 9.74 Billion in 2022 and is expected to register a revenue CAGR of 35.4% during the forecast period, according to latest analysis by Emergen Research. Growing advancements in Machine Learning (ML), Natural Language Processing (NLP), recent advances in generative models such as generative adversarial networks and variational autoencoders, and growing market trend for high level personalization and conversational AI algorithms are some of the major factors driving revenue growth of the generative Artificial Intelligence (AI) market.

Generative AI is a type of artificial intelligence that generates original content by utilizing natural language processing, massive training datasets, and advanced AI technologies such as neural networks and deep learning. The biggest change has been the emergence of generative AI, particularly the use of transformers (a kind of neural network) for everything from text and picture generation to protein folding and computational chemistry. Meanwhile, advances in slightly more conventional methodologies and improvements in simple user interfaces have made it simpler for generative AI to produce text, images, voices, synthetic data, and other types of material of higher quality considerably driving the market revenue growth.

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Major factors hindering revenue growth of the market are ethical concerns surrounding data privacy, security, policies and workforces as well as high cost regarding maintenance and training data preparation. A multitude of new business risks, including incorrect information, plagiarism, copyright breaches, and dangerous content, could be brought on by usage of generative AI technology. Businesses also need to deal with issues including a lack of transparency and potential worker displacement. These unforeseen mishaps can have a detrimental impact on patient or customer trust as well as legal ramifications, which is expected to limit revenue growth of the market during the forecast period.

Key Highlights from the Report

  • The deep learning segment accounted for largest revenue share in 2022. Generative AI utilizes deep learning algorithms and neural networks to discover patterns and generate new outcomes based on them. Generative AI grasp context of a source text and linguistically create those phrases in a different language using sophisticated deep learning techniques. Deep learning methods, such as neural networks, are used by generative AI models to create new content, such as pictures, movies, or texts. Deep learning models are used by generative AI to build intricate structures for algorithms that handle massive amounts of data, including text, code, and images, which contributes revenue growth of this segment.
  • The chatbots & intelligent virtual assistants segment is expected to register a steady revenue CAGR during the forecast period. Chatbots and virtual assistants that can handle complex discussions are made using generative AI platforms. Individuals automate lead generation, customer service, and other company activities using this robust platform to increase productivity and give customers a better experience.
  • In addition, chatbots and virtual assistants driven by generative AI provide customers with higher levels of personalization, faster response times, and less labor than human customer service representatives. As a result, major companies are launching chatbots and virtual assistants integrated with generative AI for better customer experience. These are the major factors that are contributing to revenue growth of this segment.
  • The market in North America accounted for a significantly large revenue share in 2022. This is attributed to growing number of key strategic initiatives and funding in the field of generative AI, as well as growing consumer interest and rapid adoption of generative AI applications such as image generation, chatbots in various businesses and industries, especially in U.S., which has resulted in continued growth of this industry.
  • For instance, according to a survey conducted by Freshbooks, a software company, around 1,000 business owners from different industrial sectors across the United States and Canada, and nearly 25% of business owners reported that they are nowadays utilizing generative AI tools, including ChatGPT, Google Bard, and Microsoft Bing, which has resulted in continued growth of this industry.

Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

·       North America (U.S., Canada)

·       Europe (U.K., Italy, Germany, France, Rest of EU)

·       Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

·       Latin America (Chile, Brazil, Argentina, Rest of Latin America)

·       Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Segmentation of Generative Artificial Intelligence Market 

Emergen Research has segmented global generative Artificial Intelligence (AI) market on the basis of offering type, technology application, end-use, and region:

  • Offering Type Outlook (Revenue, USD Billion; 2019-2032)
    • Software
    • Service
  • Technology Outlook (Revenue, USD Billion; 2019-2032)
    • Machine Learning
    • Deep Learning
    • Natural Learning Processing (NLP)
    • Others
  • Application Outlook (Revenue, USD Billion; 2019-2032)
    • Computer Vision
    • Robotics & Automation
    • Content Generation
    • Chatbots & Intelligent Virtual Assistants
    • Image & Art Generation
    • Game Design & Character Production
    • 3D Modeling
    • Predictive Analytics & Modeling
    • Others
  • End-Use Outlook (Revenue, USD Billion; 2019-2032)
    • Media & Entertainment
    • Education
    • IT & Telecommunication
    • BFSI
    • Healthcare
    • Transportation
    • Manufacturing
    • Gaming
    • Energy & Utilities
    • Others

Key Players of In-Vitro Fertilization Market

Some major companies in the global market report include Google, Microsoft Corporation, Amazon Web Services, Inc., Elemental Cognition, Inc., Adobe, Genie AI Ltd, OPENAI, INWORLD AI, Cohere AI, and Anthropic PBC.

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ToC of the report:

 

Chapter 1: Generative Artificial Intelligence Market overview and scope

Chapter 2: Generative Artificial Intelligence Market outlook

Chapter 3: Impact analysis of COVID-19 pandemic

Chapter 4: Competitive Landscape

Chapter 5: Drivers, Constraints, Opportunities, Limitations

Chapter 6: Key manufacturers of the industry

Chapter 7: Regional analysis

Chapter 8: Generative Artificial Intelligence Market segmentation based on type applications

Chapter 9: Current and Future Trends

Look Over transcripts provided by Emergen Research

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Chlor Alkali Market: https://www.emergenresearch.com/industry-report/chlor-alkali-market

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Aircraft Electrification Market: https://www.emergenresearch.com/industry-report/aircraft-electrification-market

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