How big is the Generative AI Market?

The Generative AI Market size is expected to reach USD 36.06 billion in 2024 and grow at a CAGR of 50.87% to reach USD 281.90 billion by 2029. Read More

What is the current Generative AI Market size?

In 2024, the Generative AI Market size is expected to reach USD 36.06 billion. Read More

Who are the key players in Generative AI Market?

Google LLC, IBM Corporation, Microsoft Corporation, Adobe Inc and Amazon Web Services are the major companies operating in the Generative AI Market. Read More

Which is the fastest growing region in Generative AI Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Generative AI Market?

In 2024, the North America accounts for the largest market share in Generative AI Market. Read More

What years does this Generative AI Market cover, and what was the market size in 2023?

In 2023, the Generative AI Market size was estimated at USD 17.72 billion. The report covers the Generative AI Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Generative AI Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Generative AI Market Size & Share Analysis - Industry Research Report

Generative AI Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Generative AI Market Report is Segmented by Offering (Solutions and Services), End-User Industry (BFSI, Healthcare, IT and Telecommunication, Government, Retail and Consumer Goods, and Other End-User Industries), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

Generative AI Industry Overview

The global generative AI market is semi-consolidated, with a few prominent players, such as Google LLC, IBM Corporation, Microsoft Corporation, Adobe Inc., Amazon Web Services, and others. To increase market share, corporations continually spend on strategic partnerships or acquisitions and solution and services development. For instance,

In May 2024, Sainsbury’s agreed a five-year partnership deal with Microsoft to incorporate generative AI into the supermarket chain’s operations. The British retail giant will use Microsoft generative AI to “improve customers’ search experience” for online shopping and AI customer support. Sainsbury’s said it will also use Microsoft AI to improve the efficiency of in-store staff, with AI guiding workers to shelves that need restocking.
In May 2024, IBM and SAP SE announced their vision for the next era of their collaboration, which includes new generative AI capabilities and industry-specific cloud solutions that can assist clients in unlocking business value. The companies are exploring opportunities to build new generative AI capabilities for RISE with SAP and infuse AI into SAP business processes across industry-specific cloud solutions and lines of business applications. Initially, IBM plans to extend AI capabilities across SAP’s cloud solutions and applications, all underpinned by the SAP Business Technology Platform (SAP BTP).