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Generative AI Markets: Software (Transformer Models (GPT-1, GPT-2, GPT-3, GPT-4, LAMBDA)), Services - Global Forecast to 2028 - Market to Grow at a Staggering CAGR of 35.6% - ResearchAndMarkets.com


The "Generative AI Market" report has been added to ResearchAndMarkets.com's offering.

The generative AI market is projected to grow from USD 11.3 billion in 2023 to USD 51.8 billion by 2028, at a compound annual growth rate (CAGR) of 35.6%.

Market is anticipated to grow due to innovation of cloud storage enabling easy access to data, evolution of AI and deep learning and rise in the era of content creation and creative applications.

By offering, managed services under services segment to register for fastest growing market rate during forecast period

Managed services mainly deal with client experience. Companies do not bargain on this variable and often try to take these services from the best players in the market. Sometimes, it becomes troublesome for companies to concentrate on their core business procedures and handle various functions related to them.

This can be overcome with the adoption of managed services. These services offer specialized skills that are required to maintain and update software. All the pre- and post-deployment questions and needs of clients are covered under the managed services segment. Organizations mostly outsource such services to offer on-time conveyance to clients.

By vertical, media and entertainment segment to register fastest growing CAGR during forecast period

Generative AI is enabling media & entertainment companies to create compelling and unique content faster and more efficiently than traditional methods. For instance, generative AI is being used to create virtual sets and characters for films and TV shows, which can save time and money on production costs.

In the music industry, generative AI is being used to create new and innovative sounds and styles. In gaming, it is being used to generate game worlds and characters in real-time, providing players with a more immersive experience. In advertising, generative AI is being used to create personalized and targeted content that resonates with specific audiences.

North America to witness fastest growing market size during the forecast period

North America is estimated to lead the generative AI market during the forecast period. The adoption of generative AI technology as a key marketing and customer engagement tool for verticals will further drive market revenue generation across the region.

The presence of a growing tech-savvy population, high internet penetration, and advances in AI have resulted in an enormous usage of generative AI solutions. Most of the customers in North America have been leveraging generative AI for application-based activities that include but are not limited to, text generation, code generation, image generation, and audio/video generation.

Premium Insights

Market Dynamics

Drivers

Restraints

Opportunities

Challenges

Ethics and Implications of Generative AI

Ecosystem Analysis

Generative AI Tools and Framework

Generative AI Techniques and Methods

Generative AI Investment Landscape

Case Study Analysis

Regulatory Landscape

Company Profiles

Key Players

Startup/SME Profiles

Open-Source Companies

Competitive Landscape

Comparative Analysis of Trending Text-based Generative AI Products

Trending Image-based Generative AI Products

Trending Video-based Generative AI Products

Trending Code-based Generative AI Products

Trending Audio-based Generative AI Products

Other Trending Generative AI Products

For more information about this report visit https://www.researchandmarkets.com/r/hp13d

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