The recent report by Markntel Advisors on Generative AI Market Size, Share, Analysis Future and forecast 2023-2028 promises trustworthy, objective, and precise insights into the market with the addition of accurate and reliable data explaining and briefing about the elements of the industry. The diverse fragmentation of the industry is handled by investigating each element, segment-wise, region-wise, and more, to comprehend a detailed and systematic report to provide the stakeholder with all the various tools and details of the industry.
The researchers analyze the collected data and present an understanding of the flow of the market. Through various subdivisions, the report aims to declutter all the trends and factors fueling the market’s growth. The report is a systematical, chapter-wise thesis of multiple segments, areas, characteristics, environmental or regional influence, and other factors involved in the overall growth and establishment of the industry. By dividing the market into chapters, the analysts present the report more straightforwardly to point out all the minute details of the industry and how it influences other factors.
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The Key Elements Covered in Generative AI Market Report:
- The report tracks and covers the regions where the market is partially and majorly active. Geographically, the market focuses on the place of manufacture, raw material extraction to the area where the products consumers are based, to be the regional expansion of the industry. To track and forecast the market size, the geographically dominant region in the industry, concerning the central areas covered.
- The report is compiled systematically and methodically, with each section neatly covering its essence and influence in the market. Likewise, the report provides a credible selection of market dynamics consisting of the following significant pillars of the industry’s study, Market Drivers, Market Restraints, Growth Opportunities, Challenges
- A separate section to provide the impact of COVID-19 on the market to better grasp the fluctuation during and after the pandemic.
- Elaborated information on industry overview, specifications, definitions, suppliers, R&D status, cost structure analysis, sources, technological advancement, the further scope for improvement, applications, and more.
Market Dynamics
Key Driver: Rising Demand for Generative AI in Healthcare
The rapid adoption of generative AI in various healthcare settings like hospitals, pharmaceutical companies, R&D laboratories, etc., to support the growth of drug discovery, personalized therapy, diagnosis, etc., is one of the major factors pushing the market forward in the coming years. The integration of this technology in the drug discovery process to analyze a large amount of information, such as health & genomic data, to identify patterns, and predict outcomes, has enhanced its demand in the healthcare sector. For instance, Mitsui and NVIDIA announced a collaboration to use Japan’s first generative AI Supercomputer to accelerate the drug discovery process in 2023. Furthermore, the growing demand for assist chatbots in the healthcare industry to provide personalized assistance to patients & improve customer experience is further driving the demand for this technology.
Possible Restraint: Data Privacy Associated with Generative AI Would Hamper the Market Growth
Data privacy concerns act as a significant challenge for the Generative AI market, as many organizations hesitate to deploy this technological model due to the need to share their data sets with the software, as this could result in a breach of their sensitive data. The reluctance of organizations to share their data sets with generative AI software can impact the market negatively. It can lead to the limited availability of high-quality training data, which is essential for developing accurate technology models. In turn, hindering the development of new solutions & limiting the scope of existing ones.
Growth Opportunity: Rapid Adoption of Generative AI for Interactive Experience in Media & Entertainment Industry
Generating AI has the potential to revolutionize the media & entertainment industry in the future. Due to this, the industry is rapidly adopting this technology to create captivating visuals, generate stories & music, program video games, etc., to offer an interactive experience that is more immersive, personal, and dynamic to the consumer. Therefore, media & entertainment companies are planning to invest in this technology to reduce the developing time of the content, which results in the low operation cost for the companies.
Consequently, the industry's prominent investment in this technology would create a growth opportunity for the market in the forthcoming years. For instance, in 2023, Scenario Games invested USD6 million to generate game art assets with the help of Generative AI.
Key Trend: Rising Use of GANs (Generative Adversarial Network) to Create Highly Realistic Data
The gradual increase in the usage of GAN (Generative Adversarial Network) in generative AI to have realistic data is trending in the AI industry. Due to its deep learning & the feature to access the pattern of the user, which generates a high-quality result, is increasing its output efficiency. Therefore, the usage of GAN has been rising since the historical years, i.e., 2020- 2021. This resulted in the gradual adoption of GAN in various industries like automobiles, media, etc., to understand the preference & choice patterns of the consumer and create their offering accordingly. Hence, it generates the demand for GAN for the technology, further propelling the market growth in the forecast year.
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A Window into What Competitors Are Doing
The report comprises of detailed study of the steps, products, changes, marketing strategies, sustainability tactics, mergers, acquisition, and more which has shaped the industry and affected the market. The report showcases various elements to explain the dominance of competitors and the market, including:
- Recent developments
- Risk & SWOT analysis
- Mergers and acquisition
- Performance
- Services offered
In the case of the Generative AI market, the market participants include:
-Intel Corporation
-Microsoft
-IBM
-Synthesia
-Rephrase AI
-D-ID
-Adobe
-Amazon Web Service
-Mostly AI
-Geneie AI
-Althea
-NDVIA
-Others
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Dividing The Generative AI Market into Sections:
The report covers the bifurcations of the industry group based on a common element, on which further investigation is performed. Furthermore, the report provides data on each high-performer segment in each group of features and information about the reasons behind the part acquiring a higher share or flourishing more in the industry. Thus, a deep analysis of various market elements is presented by categorizing the segments as follows:
By Offering
-Software
-Services
By Technology
-Generative Adversarial Network
-Transformers
-Variational Auto encoders
-Diffusion Networks
By Deployment
-Cloud
-On-premises
By End User
-BFSI
-Retail
-Healthcare
-Media & Entertainment
-Manufacturing
-Automotive and Transportation
-ICT
-Others (Law, Government entities)
By Region
-North America
-South America
-Europe
-Middle East & Africa
-Asia-Pacific
Offers and Customizations of Generative AI Market Report
For a personalized and customized research report on the Generative AI Market, kindly contact Markntel Advisors. The analysts and researchers focus on providing accurate information, beneficial tools, and further insights into the industry to yield higher profits.
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