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Report Highlights
The global market for generative AI was valued at $15.4 billion in 2023. It is projected to grow from $20.8 billion in 2024 to $94.4 billion by 2029, at a compound annual growth rate (CAGR) of 35.3% from 2024 through 2029.
Report Includes
- 83 data tables and 60 additional tables
- An analysis of the global market trends for generative artificial intelligence technology, with market revenue data for 2023, estimates for 2024, forecasts for 2025 and projected CAGRs through 2029
- Estimates of the market size and revenue growth prospects, along with a market share analysis by offering, software deployment type, data type, application, end-user industry and region
- Facts and figures pertaining to the market dynamics, advances in AI technology, regulations, and the impact of macroeconomic factors
- A Porter’s Five Forces model, and global supply chain and PESTLE analyses
- Analysis of patents, emerging trends and developments
- Analysis of the industry structure, including companies’ market shares and rankings, strategic alliances, M&A activities and a venture funding outlook
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, and the ESG scores and practices of leading companies
- Profiles of the leading companies, including OpenAI, Alphabet Inc. (Google), Meta, Microsoft Corp., and Lumen5
Report Scope
This report provides an overview of the global generative AI market and examines market trends. It includes base year data from 2023 and projected data from 2024 through 2029. The report analyzes the global market revenue ($ millions) for segments (i.e., offerings, data type, application, end-user industry) and regions (i.e., North America, Europe, Asia-Pacific, the Rest of the World).
The market by offerings includes software, hardware and services. The software segment is categorized based on its foundational models and deployment mode. The software foundational models are segmented into statistical, rule-based and deep learning models, including their respective types. The software deployment mode covers on-premises and clouds. The hardware offerings cover the central processing unit (CPU), graphics processing unit (GPU) and tensor processing unit (TPU). The service offered further includes professional and managed services.
The market by data type covers text, code, audio/speech and images/videos. The market by application includes business integration and visualization, content management, synthetic data management, automation and integration, and generative design. The market by end-user industry is segmented into BFSI, healthcare and life sciences, IT and ITeS, manufacturing, media and entertainment, retail and e-commerce and others. The market by region covers North America, Europe, Asia-Pacific and the Rest of the World.
The report examines the key trends and challenges driving the market and the companies operating in it. It analyzes regulatory landscape and environmental, social and corporate governance (ESG) developments. It covers patent activity and emerging technologies in the generative AI market. It also provides the competitive landscape among leading players, detailing the market ecosystem and the venture funding information. The report also provides detailed profiles of the significant generative AI players and their strategies to enhance their market presence.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||||||
| Forecast period considered | 2024-2029 | ||||||||||||||||
| Base year market size | $15.4 Billion | ||||||||||||||||
| Market size forecast | $94.4 Billion | ||||||||||||||||
| Growth rate | CAGR of 35.3% from 2024 to 2029 | ||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||
| Segments covered | By Offerings, Data Type, Application, End-User Industry, and Region | ||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, the Rest of the World | ||||||||||||||||
| Countries covered | U.S., Canada, Mexico, Germany, the U.K., France, Japan, China and India | ||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
Analyst Credentials
Masaratjahan Kudle – Associate Consultant – Technology Research
Masaratjahan Kudle is a highly skilled market research consultant with six years of experience in the technology domain. She has a strong background in data analysis and is highly skilled in gathering and interpreting market intelligence to drive business growth. Masaratjahan has worked with numerous clients throughout her career, helping them make informed decisions about their market strategies. She holds a Computer Science and Engineering degree.
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