Generative AI Market Expansion: From Chatbots to Business Intelligence To Reach US$ 998.23Bn by 2031 | Most Leading Companies - Google, Microsoft, Amazon Web Services, Inc., IBM oracle, Nuance Communications, Inc
analysis of the market trends, key players, and growth opportunities in the global generational AI market. The market is witnessing significant growth due to increasing adoption of AI technologies across various industries. The report highlights the market dynamics, challenges, and opportunities shaping the future of the generational AI market. With a strong CAGR, the market is poised for substantial expansion in the coming years. DataM Intelligence's comprehensive report offers valuable insights for businesses looking to capitalize on the growing generational AI market.
Generative AI Market Expansion: From Chatbots to Business Intelligence To Reach US$ 998.23Bn by 2031
The Generative AI market is experiencing significant growth, expanding from chatbots to business intelligence, with a projected value of US$ 998.23 billion by 2031. Some of the leading companies in this market include Google, Microsoft, Amazon Web Services, Inc., IBM, Oracle, Nuance Communications, Inc.
Market Overview
The Global Generational AI Market reached US$ 44.56 billion in 2023 and is expected to witness a substantial growth rate with a CAGR of 47.50% during the forecast period of 2024-2031. The market report, published by DataM Intelligence, offers detailed insights on market trends, growth opportunities, and emerging challenges.
Generative AI involves the creation of new content such as text, images, audio, and video based on patterns learned from existing data. It finds applications in chatbots, automated content generation, image synthesis, and AI-driven creativity across various industries including marketing, healthcare, and software development.
Key Players in the Generational AI Market
The key players in the Generational AI market include Google, Microsoft, Amazon Web Services, Inc., IBM, Oracle, Nuance Communications, Inc., FIS, SAP SE, Artificial Solutions, and Kore.ai, Inc.
Industry Developments
Some notable industry developments in the Generational AI market:
- Microsoft and Adobe announced plans to integrate Adobe Experience Cloud with Microsoft Copilot, enhancing workflows for marketers.
- Adobe and NVIDIA expanded their partnership to develop advanced generative AI models for creative professionals.
- GSMA and IBM collaborated to drive generative AI adoption in telecom through training programs.
- Google launched advanced AI models like Gemini 1.5 and Gemma 2B & 7B for commercial and research use.
- Capgemini and AWS strengthened their partnership to accelerate enterprise adoption of generative AI.
Growth Forecast and Research Process
The Generational AI market is poised for significant growth between 2024 and 2031, driven by key player strategies and market trends. The research process for this market report involved both primary and secondary data sources to analyze various industry factors affecting market dynamics.
Segmentation and Regional Analysis
The Generational AI market is segmented by type, component, business function, integration mode, and end-user. The regional analysis covers key regions including North America, Europe, Asia Pacific, Middle East and Africa, and South America, identifying unique market trends in each area.
Benefits of the Report
The report offers:
- A descriptive analysis of market size estimation, SWOT analysis, and forecast.
- Top-down and bottom-up approaches for regional analysis.
- Porter's five forces model for an in-depth analysis of market dynamics.
- Value chain analysis to provide a clear picture of the market.
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About DataM Intelligence: DataM Intelligence is a Market Research and Consulting firm providing end-to-end business solutions to organizations worldwide.