1 INTRODUCTION 34
1.1 STUDY OBJECTIVES 34
1.2 MARKET DEFINITION 34
1.2.1 INCLUSIONS AND EXCLUSIONS 35
1.3 MARKET SCOPE 36
1.3.1 MARKET SEGMENTATION 36
1.3.2 REGIONS COVERED 37
1.3.3 YEARS CONSIDERED 37
1.4 CURRENCY CONSIDERED 38
TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2019–2022 38
1.5 STAKEHOLDERS 38
2 RESEARCH METHODOLOGY 39
2.1 RESEARCH DATA 39
FIGURE 1 GENERATIVE AI MARKET: RESEARCH DESIGN 39
2.1.1 SECONDARY DATA 40
2.1.2 PRIMARY DATA 40
TABLE 2 PRIMARY INTERVIEWS 40
2.1.2.1 Breakup of primary profiles 41
2.1.2.2 Key industry insights 41
2.2 DATA TRIANGULATION 42
FIGURE 2 DATA TRIANGULATION 42
2.3 MARKET SIZE ESTIMATION 43
FIGURE 3 GENERATIVE AI MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES 43
2.3.1 TOP-DOWN APPROACH 43
2.3.2 BOTTOM-UP APPROACH 44
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 1 (SUPPLY-SIDE): REVENUE FROM SOLUTIONS/SERVICES OF GENERATIVE AI MARKET 44
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 2, BOTTOM-UP (SUPPLY-SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES OF GENERATIVE AI MARKET 45
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 3, BOTTOM-UP (SUPPLY-SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES OF GENERATIVE AI MARKET 46
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 4, BOTTOM-UP (DEMAND-SIDE): SHARE OF GENERATIVE AI THROUGH OVERALL GENERATIVE AI SPENDING 46
2.4 MARKET FORECAST 47
TABLE 3 FACTOR ANALYSIS 47

2.5 RESEARCH ASSUMPTIONS 48
2.6 STUDY LIMITATIONS 50
2.7 IMPLICATIONS OF RECESSION IMPACT ON GENERATIVE AI MARKET 50
3 EXECUTIVE SUMMARY 52
TABLE 4 GLOBAL GENERATIVE AI MARKET SIZE AND GROWTH RATE, 2019–2022 (USD MILLION, Y-O-Y %) 54
TABLE 5 GLOBAL GENERATIVE AI MARKET SIZE AND GROWTH RATE, 2023–2028 (USD MILLION, Y-O-Y %) 54
FIGURE 8 SOFTWARE SEGMENT TO HOLD LARGER MARKET SIZE IN 2023 54
FIGURE 9 PROFESSIONAL SERVICES TO ACCOUNT FOR MAJOR MARKET SHARE IN 2023 55
FIGURE 10 TRAINING AND CONSULTING SERVICES TO DOMINATE MARKET IN 2023 55
FIGURE 11 NATURAL LANGUAGE GENERATION SEGMENT TO HOLD LARGEST MARKET SIZE IN 2023 56
FIGURE 12 MEDIA AND ENTERTAINMENT VERTICAL TO HOLD LARGEST MARKET SHARE IN 2023 56
FIGURE 13 NORTH AMERICA TO HOLD LARGEST MARKET SHARE IN 2023 57
4 PREMIUM INSIGHTS 58
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN GENERATIVE AI MARKET 58
FIGURE 14 INCREASING POPULARITY OF LARGE-LANGUAGE MODELS AND IMPROVING PERFORMANCE OF DEEP LEARNING MODELS TO DRIVE MARKET 58
4.2 GENERATIVE AI MARKET: TOP THREE APPLICATIONS 58
FIGURE 15 SYNTHETIC DATA GENERATION SEGMENT TO WITNESS HIGHEST GROWTH RATE DURING FORECAST PERIOD 58
4.3 NORTH AMERICA: GENERATIVE AI MARKET, BY OFFERING AND VERTICAL 59
FIGURE 16 SOFTWARE AND MEDIA AND ENTERTAINMENT TO BE LARGEST SHAREHOLDERS IN NORTH AMERICAN MARKET IN 2023 59
4.4 GENERATIVE AI MARKET, BY REGION 59
FIGURE 17 NORTH AMERICA TO HOLD LARGEST MARKET SHARE IN 2023 59
5 MARKET OVERVIEW AND INDUSTRY TRENDS 60
5.1 INTRODUCTION 60
5.2 MARKET DYNAMICS 60
FIGURE 18 GENERATIVE AI MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 61
5.2.1 DRIVERS 61
5.2.1.1 Innovation of cloud storage enabling easy access to data 61
5.2.1.2 Evolution of AI and deep learning 62
5.2.1.3 Rise in content creation and creative applications 62
FIGURE 19 SYNTHETIC DATA TO ACCOUNT FOR MAJORITY OF DATA VOLUME BY 2030 63
5.2.2 RESTRAINTS 63
5.2.2.1 High costs associated with training data preparation 63
5.2.2.2 Issues related to bias and inaccurately generated output 64
FIGURE 20 ISSUES RELATED TO TRAINING DATA HIGHLIGHTED IN CHATGPT’S RESPONSES 64
5.2.2.3 Risks associated with data breaches and sensitive information leakage 65
5.2.3 OPPORTUNITIES 65
5.2.3.1 Increasing deployment of large language models 65
5.2.3.2 Growing interest of enterprises in commercializing synthetic images 66
5.2.3.3 Robust improvement in generative ML leading to human baseline performance 67
5.2.4 CHALLENGES 67
5.2.4.1 Concerns regarding misuse of generative AI for illegal activities 67
5.2.4.2 Quality of output generated by generative AI models 68
5.2.4.3 Computational complexity and technical challenges of generative AI 68
5.3 ETHICS AND IMPLICATIONS OF GENERATIVE AI 68
5.3.1 BIAS AND FAIRNESS 68
5.3.2 PRIVACY AND SECURITY 68
5.3.3 INTELLECTUAL PROPERTY 69
5.3.4 ACCOUNTABILITY AND RESPONSIBILITY 69
5.3.5 SOCIETAL AND ECONOMIC IMPACT 69
5.4 ADVENT OF GENERATIVE TECHNOLOGY 69
5.5 BRIEF HISTORY OF GENERATIVE AI 70
FIGURE 21 BRIEF HISTORY OF GENERATIVE AI 70
5.5.1 GENERATIVE AI ROADMAP UNTIL 2030 72
FIGURE 22 GENERATIVE AI ROADMAP UNTIL 2030 72
5.6 ECOSYSTEM ANALYSIS 74
FIGURE 23 GENERATIVE AI MARKET: ECOSYSTEM ANALYSIS 74
5.6.1 GENERATIVE AI TECHNOLOGY PROVIDERS 75
FIGURE 24 GENERATIVE AI MARKET: MAPPING, BY CATEGORY 75
5.6.2 GENERATIVE AI CLOUD PLATFORM PROVIDERS 76
5.6.3 GENERATIVE AI API AND AS-A-SERVICE PROVIDERS 77
5.6.4 GENERATIVE AI HARDWARE PROVIDERS 77
5.6.5 GENERATIVE AI END USERS 78
5.6.6 GENERATIVE AI REGULATORS 78
5.7 GENERATIVE AI TOOLS AND FRAMEWORK 79
5.7.1 TENSORFLOW 79
5.7.2 PYTORCH 79
5.7.3 KERAS 80
5.7.4 CAFFE 80
5.7.5 THEANO 80
5.7.6 MXNET 80
5.7.7 TORCH 80
5.7.8 HUGGING FACE 80

5.8 GENERATIVE AI TECHNIQUES AND METHODS 81
5.8.1 TEXT GENERATION AND LANGUAGE MODELING 81
5.8.1.1 Recurrent neural networks for text generation 81
5.8.1.2 Language modeling with transformers 81
5.8.1.3 Seq2Seq models for translation 82
5.8.2 IMAGE AND VIDEO GENERATION 82
5.8.2.1 Generative adversarial networks for image generation 82
5.8.2.2 Style transfer and image-to-image translation 82
5.8.2.3 Video generation with GANs 83
5.8.3 MUSIC AND AUDIO GENERATION 83
5.8.3.1 WaveNet and SampleRNN for audio generation 83
5.8.3.2 Music generation with LSTM networks 84
5.8.4 REINFORCEMENT LEARNING 84
5.8.4.1 Policy gradient methods 84
5.8.4.2 Actor-critic methods 84
5.9 GENERATIVE AI INVESTMENT LANDSCAPE 85
FIGURE 25 INVESTOR DEALS AND FUNDING IN GENERATIVE AI SOARED IN 2022 85
FIGURE 26 MOST VALUED GENERATIVE AI FIRMS IN 2022 (USD BILLION) 86
FIGURE 27 DISTRIBUTION OF GENERATIVE AI FUNDING, 2021–2022 86
5.10 CASE STUDY ANALYSIS 87
5.10.1 CASE STUDY 1: SPECTRUMLABS DEPLOYED GALILEO FOR FASTER DEVELOPMENT OF NEWER LANGUAGE MODELS 87
5.10.2 CASE STUDY 2: BESTSELLER REDUCED 50% CLASSROOM TIME WITH AI VIDEOS 87
5.10.3 CASE STUDY 3: GALILEO HELPED INVOLVE.AI IMPROVE CUSTOMER INTELLIGENCE ML MODEL ACCURACY BY 10% 88
5.10.4 CASE STUDY 4: VODAFONE ITALY RAISED LEAD CONVERSIONS BY 42% BY DEVELOPING CREATIVE CAMPAIGNS THROUGH GENERATIVE AI 88
5.10.5 CASE STUDY 5: WPP TRAINED 50,000 EMPLOYEES WITH AI VIDEOS 89
5.10.6 CASE STUDY 6: SWISS RE BANKED ON LUMEN5 FOR SOCIAL ENGAGEMENT 89
5.10.7 CASE STUDY 7: TELEPERFORMANCE TRAINS GLOBAL WORKFORCE 90
5.10.8 CASE STUDY 8: YABBLE USED GPT-3 TO DELIVER FAST, NUANCED INSIGHTS FROM CUSTOMER FEEDBACK 90
5.10.9 CASE STUDY 9: CISCO SCALED VIDEO CONTENT LOCALIZATION USING LUMEN5 91
5.10.10 CASE STUDY 10: GPT-3 HELPED WAYMARK CONSISTENTLY PRODUCE STRONGER AND MORE RELEVANT SCRIPTS COMPARED TO HUMAN-GENERATED CONTENT 91
5.10.11 CASE STUDY 11: SIEMENS DIGITALIZED ITS COMMUNICATIONS WITH LUMEN5 92
5.11 SUPPLY CHAIN ANALYSIS 93
FIGURE 28 GENERATIVE AI MARKET: SUPPLY CHAIN ANALYSIS 93
TABLE 6 GENERATIVE AI MARKET: SUPPLY CHAIN ANALYSIS 94
5.11.1 USE CASES, BY APPLICATION 95

5.12 REGULATORY LANDSCAPE 98
5.12.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 98
TABLE 7 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 98
TABLE 8 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 99
TABLE 9 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 99
TABLE 10 MIDDLE EAST & AFRICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 100
TABLE 11 LATIN AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 100
5.12.2 PAYMENT CARD INDUSTRY DATA SECURITY STANDARD 101
5.12.3 GRAMM-LEACH-BLILEY ACT 101
5.12.4 HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT 101
5.12.5 GENERAL DATA PROTECTION REGULATION 102
5.12.6 PERSONAL INFORMATION PROTECTION AND ELECTRONIC DOCUMENTS ACT 102
5.12.7 INFORMATION SECURITY TECHNOLOGY – PERSONAL INFORMATION SECURITY SPECIFICATION GB/T 35273-2017 103
5.12.8 SECURE INDIA NATIONAL DIGITAL COMMUNICATIONS POLICY, 2018 103
5.12.9 GENERAL DATA PROTECTION LAW 103
5.12.10 LAW NO 13 OF 2016 ON PROTECTING PERSONAL DATA 104
5.12.11 NIST SPECIAL PUBLICATION 800-144 – GUIDELINES ON SECURITY AND PRIVACY IN PUBLIC CLOUD COMPUTING 104
5.13 PATENT ANALYSIS 105
5.13.1 METHODOLOGY 105
5.13.2 PATENTS FILED, BY DOCUMENT TYPE, 2019–2022 105
TABLE 12 PATENTS FILED, 2019–2022 105
5.13.3 INNOVATION AND PATENT APPLICATIONS 105
FIGURE 29 ANNUAL NUMBER OF PATENTS GRANTED, 2019–2022 105
5.13.4 TOP APPLICANTS 106
FIGURE 30 TOP 10 PATENT APPLICANTS, 2019–2022 106
5.14 KEY CONFERENCES AND EVENTS, 2023–2024 106
TABLE 13 GENERATIVE AI MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 106
5.15 PRICING ANALYSIS 108
TABLE 14 AVERAGE SELLING PRICE ANALYSIS, BY OFFERING 109
5.16 PORTER’S FIVE FORCES ANALYSIS 110
TABLE 15 IMPACT OF EACH FORCE ON GENERATIVE AI MARKET 110
FIGURE 31 GENERATIVE AI MARKET: PORTER’S FIVE FORCES ANALYSIS 111
5.16.1 THREAT OF NEW ENTRANTS 111
5.16.2 THREAT OF SUBSTITUTES 112
5.16.3 BARGAINING POWER OF SUPPLIERS 112
5.16.4 BARGAINING POWER OF BUYERS 112
5.16.5 INTENSITY OF COMPETITIVE RIVALRY 112
5.17 KEY STAKEHOLDERS AND BUYING CRITERIA 113
5.17.1 KEY STAKEHOLDERS IN BUYING PROCESS 113
FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS 113
TABLE 16 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS 113
5.17.2 BUYING CRITERIA 114
FIGURE 33 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 114
TABLE 17 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 114
5.18 TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS OF GENERATIVE AI MARKET 115
FIGURE 34 GENERATIVE AI MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS 115
5.19 FUTURE OF GENERATIVE AI 115
5.19.1 ADVANCEMENTS IN TECHNIQUES AND METHODS 115
5.19.2 EMERGING APPLICATIONS AND INDUSTRIES 116
5.19.2.1 Business models across use cases 116
5.19.2.1.1 Generative AI Model-as-a-Service 116
5.19.2.1.2 Built-in-apps business model 117
5.19.2.1.3 Vertical integration business model 117
5.19.2.2 Generative tech’s impact on web 3.0 and crypto 117
FIGURE 35 IMPACT OF GENERATIVE TECH ON WEB 3.0 117
6 GENERATIVE AI MARKET, BY OFFERING 119
6.1 INTRODUCTION 120
6.1.1 OFFERING: GENERATIVE AI MARKET DRIVERS 120
FIGURE 36 SERVICES SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 121
TABLE 18 GENERATIVE AI MARKET, BY OFFERING, 2019–2022 (USD MILLION) 121
TABLE 19 GENERATIVE AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 121
6.2 SOFTWARE 122
TABLE 20 SOFTWARE: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 122
TABLE 21 SOFTWARE: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 122
6.2.1 GENERATIVE AI SOFTWARE, BY GENERATIVE MODEL 123
FIGURE 37 DEEP LEARNING SUB-SEGMENT TO HOLD LARGEST SHARE OF GENERATIVE AI MARKET FOR SOFTWARE IN 2023 123
TABLE 22 SOFTWARE: GENERATIVE AI MARKET, BY GENERATIVE MODEL, 2019–2022 (USD MILLION) 124
TABLE 23 SOFTWARE: GENERATIVE AI MARKET, BY GENERATIVE MODEL, 2023–2028 (USD MILLION) 124
6.2.1.1 Rule-based models 124
6.2.1.1.1 Rule-based models offer clear and interpretable approach to generative AI with explicit rules for data generation 124
TABLE 24 RULE-BASED MODELS: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 125
TABLE 25 RULE-BASED MODELS: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 125
6.2.1.1.1.1 Knowledge-based models 125
6.2.1.1.1.2 Script-based models 126
6.2.1.1.1.3 Expert systems 126
6.2.1.2 Statistical models 126
6.2.1.2.1 Statistical models provide powerful way to capture complex patterns in data and generate precise outputs 126
TABLE 26 STATISTICAL MODELS: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 127
TABLE 27 STATISTICAL MODELS: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 127
6.2.1.2.1.1 Markov models 127
6.2.1.2.1.2 Hidden Markov models 127
6.2.1.2.1.3 Gaussian mixture models 128
6.2.1.2.1.4 Conditional random fields 128
6.2.1.3 Deep learning models 128
6.2.1.3.1 Deep learning models excel at generative tasks requiring fine-grained details 128
TABLE 28 DEEP LEARNING MODELS: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 129
TABLE 29 DEEP LEARNING MODELS: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 129
6.2.1.3.1.1 Feedforward neural networks 129
6.2.1.3.1.2 Recurrent neural networks 129
6.2.1.3.1.3 Long short-term memory (LSTM) networks 130
6.2.1.3.1.4 Gated recurrent units (GRUs) 130
6.2.1.4 Generative adversarial networks (GANs) 130
6.2.1.4.1 Generative adversarial networks (GANs) provide unique approach to generative AI by training two competing neural networks to generate diverse data 130
TABLE 30 GENERATIVE ADVERSARIAL NETWORKS: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 131
TABLE 31 GENERATIVE ADVERSARIAL NETWORKS: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 131
6.2.1.4.1.1 Conditional generative adversarial networks (CGANs) 131
6.2.1.4.1.2 Style GANs 131
6.2.1.4.1.3 Cycle GANs 132
6.2.1.5 Autoencoders 132
6.2.1.5.1 Autoencoders used for generative tasks requiring new data points similar to original input 132
TABLE 32 AUTOENCODERS: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 132
TABLE 33 AUTOENCODERS: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 133
6.2.1.5.1.1 Denoising autoencoders 133
6.2.1.5.1.2 Variational autoencoders 133
6.2.1.6 Convolutional neural networks (CNNs) 133
6.2.1.6.1 Convolutional neural networks (CNNs) learn hierarchical features of image data to generate realistic images 133
TABLE 34 CONVOLUTIONAL NEURAL NETWORKS: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 134
TABLE 35 CONVOLUTIONAL NEURAL NETWORKS: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 134
6.2.1.6.1.1 Image-generating CNNs 134
6.2.1.6.1.2 Video-generating CNNs 135
6.2.1.7 Transformer models 135
6.2.1.7.1 Transformer models offer state-of-the-art performance and can generate coherent and contextually relevant text 135
TABLE 36 TRANSFORMER MODELS: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 135
TABLE 37 TRANSFORMER MODELS: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 136
6.2.1.7.1.1 Bidirectional encoder representations from transformers (BERTs) 136
6.2.1.7.1.2 Generative pre-trained transformer-1 (GPT-1) 136
6.2.1.7.1.3 Generative pre-trained transformer-2 (GPT-2) 136
6.2.1.7.1.4 Generative pre-trained transformer-3 (GPT-3) 137
6.2.1.7.1.5 Generative pre-trained transformer-4 (GPT-4) 137
6.2.1.7.1.6 Language model for dialogue applications (LAMBDAs) 138
6.2.1.7.1.7 Other transformer models 138
6.3 SERVICES 138
FIGURE 38 MANAGED SERVICES SEGMENT TO REGISTER HIGHER CAGR IN GENERATIVE AI MARKET FOR SERVICES DURING FORECAST PERIOD 139
TABLE 38 GENERATIVE AI MARKET, BY SERVICES, 2019–2022 (USD MILLION) 139
TABLE 39 GENERATIVE AI MARKET, BY SERVICES, 2023–2028 (USD MILLION) 139
TABLE 40 SERVICES: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 140
TABLE 41 SERVICES: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 140
6.3.1 PROFESSIONAL SERVICES 140
6.3.1.1 Professional services offer specialized expertise in generative AI to meet specific needs 140
FIGURE 39 TRAINING AND CONSULTING SUB-SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 141
TABLE 42 SERVICES: GENERATIVE AI MARKET, BY PROFESSIONAL SERVICE, 2019–2022 (USD MILLION) 141
TABLE 43 SERVICES: GENERATIVE AI MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 141
TABLE 44 PROFESSIONAL SERVICES: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 142
TABLE 45 PROFESSIONAL SERVICES: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 142
6.3.1.1.1 Training and consulting services 142
TABLE 46 TRAINING AND CONSULTING SERVICES: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 143
TABLE 47 TRAINING AND CONSULTING SERVICES: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 143
6.3.1.1.2 System integration and implementation services 143
TABLE 48 SYSTEM INTEGRATION AND IMPLEMENTATION SERVICES: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 144
TABLE 49 SYSTEM INTEGRATION AND IMPLEMENTATION SERVICES: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 144
6.3.1.1.3 Support and maintenance services 144
TABLE 50 SUPPORT AND MAINTENANCE SERVICES: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 145
TABLE 51 SUPPORT AND MAINTENANCE SERVICES: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 145
6.3.2 MANAGED SERVICES 145
6.3.2.1 Managed services provide end-to-end management for generative AI helping businesses to focus on core competencies 145
TABLE 52 MANAGED SERVICES: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 146
TABLE 53 MANAGED SERVICES: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 146
7 GENERATIVE AI MARKET, BY APPLICATION 147
7.1 INTRODUCTION 148
7.1.1 APPLICATION: GENERATIVE AI MARKET DRIVERS 148
FIGURE 40 NATURAL LANGUAGE GENERATION SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2023 149
TABLE 54 GENERATIVE AI MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 150
TABLE 55 GENERATIVE AI MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 151
7.2 NATURAL LANGUAGE PROCESSING (NLP) 152
7.2.1 NLP-BASED APPLICATIONS IDEAL FOR LANGUAGE TRANSLATION, CONTENT GENERATION, AND TEXT SUMMARIZATION 152
TABLE 56 NATURAL LANGUAGE PROCESSING: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 152
TABLE 57 NATURAL LANGUAGE PROCESSING: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 152
7.2.1.1 Automated Content Creation 153
7.2.1.2 Product Description 153
7.2.1.3 Marketing Copy 153
7.2.1.4 Sentiment Analysis 153
7.2.1.5 Language Translation 153
7.3 ML-BASED PREDICTIVE MODELING 154
7.3.1 GENERATIVE AI IMPROVES PREDICTIVE MODELING BY GENERATING SYNTHETIC DATA POINTS TO AUGMENT EXISTING DATASETS 154
TABLE 58 ML-BASED PREDICTIVE MODELING: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 154
TABLE 59 ML-BASED PREDICTIVE MODELING: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 154
7.3.1.1 Predictive Analytics 154
7.3.1.2 Personalized Recommendations 155
7.3.1.3 Others 155
7.4 COMPUTER VISION 155
7.4.1 DEPLOYED TO GENERATE HIGH-QUALITY, REALISTIC IMAGES AND VIDEOS, VIRTUAL TRY-ONS, AND VIDEO PRODUCTION 155
TABLE 60 COMPUTER VISION: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 156
TABLE 61 COMPUTER VISION: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 156
7.4.1.1 Object Recognition 156
7.4.1.2 Image and Video Analysis 157
7.4.1.3 Surveillance 157
7.5 ROBOTICS AND AUTOMATION 158
7.5.1 GENERATIVE AI CAN ENABLE ROBOTS TO PERFORM TASKS IN COMPLEX ENVIRONMENTS BY GENERATING NEW, CONTEXTUALLY RELEVANT RESPONSES 158
TABLE 62 ROBOTICS AND AUTOMATION: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 158
TABLE 63 ROBOTICS AND AUTOMATION: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 159
7.5.1.1 Assembly Line Production 159
7.5.1.2 Material Handling 159
7.5.1.3 Others 160
7.6 SPEECH RECOGNITION 161
7.6.1 GENERATIVE AI CAN GENERATE HIGH-QUALITY, REALISTIC SPEECH THAT CAN IMPROVE RELIABILITY OF SPEECH RECOGNITION SYSTEMS 161
TABLE 64 SPEECH RECOGNITION: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 161
TABLE 65 SPEECH RECOGNITION: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 161
7.6.1.1 Speech-to-Text Conversion 162
7.6.1.2 Call Center Automation 162
7.6.1.3 Others 162
7.7 MUSIC AND ART GENERATION 163
7.7.1 CREATION OF ORIGINAL PIECES OF MUSIC AND ART BY BLENDING NEW FORMS OF CREATIVITY AND EXPRESSION 163
TABLE 66 MUSIC AND ART GENERATION: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 163
TABLE 67 MUSIC AND ART GENERATION: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 164
7.7.1.1 Automated Music Composition 164
7.7.1.2 Visual Art 164
7.7.1.3 Graphics Design 165
7.8 EDUCATION AND TRAINING 165
7.8.1 REALISTIC SIMULATIONS FOR TRAINING AND EDUCATION ENABLE LEARNERS TO PRACTICE IN SAFE AND CONTROLLED SETTINGS 165
TABLE 68 EDUCATION AND TRAINING: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 166
TABLE 69 EDUCATION AND TRAINING: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 166
7.9 FINANCE AND ACCOUNTING 166
7.9.1 FINANCIAL MODELS AND SIMULATIONS ALLOW BUSINESSES TO EXPLORE VARIOUS SCENARIOS AND MAKE INFORMED DECISIONS 166
TABLE 70 FINANCE AND ACCOUNTING: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 167
TABLE 71 FINANCE AND ACCOUNTING: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 167
7.9.1.1 Fraud detection and risk assessment 167
7.9.1.2 Investment analysis and financial forecasting 167
7.9.1.3 Compliance monitoring 167
7.10 LEGAL 168
7.10.1 GENERATIVE AI CAN AUTOMATE DOCUMENT GENERATION AND REVIEW, SAVING TIME AND INCREASING ACCURACY IN LEGAL PROCESSES 168
TABLE 72 LEGAL: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 168
TABLE 73 LEGAL: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 168
7.10.1.1 Contact analysis and review 168
7.10.1.2 Legal research and analysis 169
7.10.1.3 Automated document summarization 169
7.10.1.4 Others 169
7.11 CUSTOMER SERVICE AND SUPPORT 170
7.11.1 CONTEXTUALLY RELEVANT AND PERSONALIZED RESPONSES TO CUSTOMER INQUIRIES REDUCE WORKLOAD FOR SUPPORT TEAMS 170
TABLE 74 CUSTOMER SERVICE AND SUPPORT: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 170
TABLE 75 CUSTOMER SERVICE AND SUPPORT: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 170
7.11.1.1 Chatbots 170
7.11.1.2 Voice assistants 171
7.11.1.3 Automated ticket resolution 171
7.12 AUGMENTED REALITY (AR) AND VIRTUAL REALITY (VR) 171
7.12.1 GENERATIVE AI-POWERED AR/VR ENABLING NEW FORMS OF ENTERTAINMENT, TRAINING, AND COMMUNICATION 171
TABLE 76 AUGMENTED REALITY AND VIRTUAL REALITY: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 172
TABLE 77 AUGMENTED REALITY AND VIRTUAL REALITY: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 172
7.12.1.1 Virtual object creation 172
7.12.1.2 Virtual environment creation 173
7.12.1.3 Personalized avatar creation 173
7.12.1.4 Training and simulation 173
7.13 SYNTHETIC DATA GENERATION 174
7.13.1 SYNTHETIC DATA USED HEAVILY FOR VARIOUS TASKS LIKE TRAINING MACHINE LEARNING MODELS AND TESTING ALGORITHMS 174
TABLE 78 SYNTHETIC DATA GENERATION: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 174
TABLE 79 SYNTHETIC DATA GENERATION: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 174
7.13.1.1 Autonomous system training 175
7.13.1.2 Medical imaging 175
7.13.1.3 Cybersecurity 175
7.13.1.4 Product design 175
7.13.1.5 Precision agriculture 175
7.13.1.6 Environmental sustainability 176
7.14 VIDEO EDITING/GENERATION 176
7.14.1 HIGH-QUALITY, REALISTIC VIDEOS AND ANIMATIONS ALLOW FOR NEW FORMS OF STORYTELLING AND COMMUNICATION 176
TABLE 80 VIDEO EDITING/GENERATION: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 176
TABLE 81 VIDEO EDITING/GENERATION: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 177
7.14.1.1 Automated video editing 177
7.14.1.2 Virtual set design 177
7.14.1.3 Special effects and animation 177
7.15 3D MODELING AND RECONSTRUCTION 178
7.15.1 REALISTIC 3D MODELS AND RECONSTRUCTION OF MISSING DATA ENABLING APPLICATIONS LIKE VIRTUAL TRY-ONS AND PRODUCT DESIGN 178
TABLE 82 3D MODELING AND RECONSTRUCTION: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 178
TABLE 83 3D MODELING AND RECONSTRUCTION: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 178
7.15.1.1 Image and texture synthesis 178
7.15.1.2 2D to 3D model generation 179
7.15.1.3 3D model simulations 179
7.16 GAME DESIGN AND CHARACTER PRODUCTION 180
7.16.1 GENERATIVE AI CAN CREATE NOVEL AND ORIGINAL CHARACTERS AND GAME ELEMENTS, ENHANCING CREATIVITY AND DIVERSITY OF GAME DESIGN 180
TABLE 84 GAME DESIGN AND CHARACTER PRODUCTION: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 180
TABLE 85 GAME DESIGN AND CHARACTER PRODUCTION: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 180
7.16.1.1 Procedural content generation 181
7.16.1.2 Non-player character generation 181

8 GENERATIVE AI MARKET, BY VERTICAL 182
8.1 INTRODUCTION 183
8.1.1 VERTICAL: GENERATIVE AI MARKET DRIVERS 183
FIGURE 41 MEDIA & ENTERTAINMENT SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 184
TABLE 86 GENERATIVE AI MARKET, BY VERTICAL, 2019–2022 (USD MILLION) 185
TABLE 87 GENERATIVE AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 185
8.2 MEDIA & ENTERTAINMENT 186
8.2.1 EARLY ADOPTER OF GENERATIVE AI DISRUPTION WAVE 186
8.2.2 MEDIA & ENTERTAINMENT: GENERATIVE AI USE CASES 187
FIGURE 42 MEDIA & ENTERTAINMENT: GENERATIVE AI USE CASES 187
TABLE 88 MEDIA & ENTERTAINMENT: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 188
TABLE 89 MEDIA & ENTERTAINMENT: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 188
8.2.2.1 Gaming 188
8.2.2.2 Publishing agencies 189
8.2.2.3 Print & electronic media 189
8.2.2.4 Other media & entertainment applications 190
8.3 TRANSPORTATION & LOGISTICS 190
8.3.1 ROUTE OPTIMIZATION AND TRAFFIC PLANNING THROUGH GENERATIVE TECH TO ATTAIN EFFICIENCY 190
8.3.2 TRANSPORTATION & LOGISTICS: GENERATIVE AI USE CASES 191
FIGURE 43 TRANSPORTATION & LOGISTICS: GENERATIVE AI USE CASES 191
TABLE 90 TRANSPORTATION & LOGISTICS: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 192
TABLE 91 TRANSPORTATION & LOGISTICS: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 192
8.3.2.1 Air 192
8.3.2.2 Road 193
8.3.2.3 Rail 193
8.3.2.4 Maritime 193
8.3.2.5 Third-party logistics (3PL) 194
8.4 MANUFACTURING 194
8.4.1 GENERATIVE AI TO IMPROVE PROTOTYPE DESIGN AND CAPACITY PLANNING IN SMART FACTORIES 194
8.4.2 MANUFACTURING: GENERATIVE AI USE CASES 195
FIGURE 44 MANUFACTURING: GENERATIVE AI USE CASES 195
TABLE 92 MANUFACTURING: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 196
TABLE 93 MANUFACTURING: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 196
8.4.2.1 Discrete manufacturing 196
8.4.2.2 Process manufacturing 197
8.5 HEALTHCARE & LIFE SCIENCES 197
8.5.1 ENTERPRISES RAPIDLY SHIFTING TO SYNTHETICALLY CREATED DATA TO MITIGATE RISKS ASSOCIATED WITH DATA PRIVACY 197
8.5.2 HEALTHCARE & LIFE SCIENCES: GENERATIVE AI USE CASES 198
FIGURE 45 HEALTHCARE & LIFE SCIENCES: GENERATIVE AI USE CASES 198
TABLE 94 HEALTHCARE & LIFE SCIENCES: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 199
TABLE 95 HEALTHCARE & LIFE SCIENCES: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 199
8.5.2.1 Healthcare institutes 199
8.5.2.2 Healthcare device manufacturing 200
8.5.2.3 Pharmaceuticals & life sciences 200
8.5.2.4 Medical research 201
8.6 IT & ITES 201
8.6.1 INCREASE IN CYBERSECURITY AND MINIMIZED COSTS IN BUSINESS FUNCTIONS BY IMPLEMENTING GENERATIVE AI SOLUTIONS 201
8.6.2 IT & ITES: GENERATIVE AI USE CASES 202
FIGURE 46 IT & ITES: GENERATIVE AI USE CASES 202
TABLE 96 IT & ITES: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 202
TABLE 97 IT & ITES: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 203
8.7 CONSTRUCTION & REAL ESTATE 203
8.7.1 INTEGRATION OF GENERATIVE AI TOOLS TO HELP REAL ESTATE FIRMS ATTRACT AND RETAIN TENANTS 203
8.7.2 CONSTRUCTION & REAL ESTATE: GENERATIVE AI USE CASES 204
FIGURE 47 CONSTRUCTION & REAL ESTATE: GENERATIVE AI USE CASES 204
TABLE 98 CONSTRUCTION & REAL ESTATE: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 205
TABLE 99 CONSTRUCTION & REAL ESTATE: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 205
8.8 BFSI 205
8.8.1 GENERATIVE AI SOLUTIONS HELP BFSI SECTOR REDUCE FRAUD, LEVERAGE INTELLIGENT, CUSTOMER-FOCUSED MARKETING 205
8.8.2 BFSI: GENERATIVE AI USE CASES 206
FIGURE 48 BFSI: GENERATIVE AI USE CASES 206
TABLE 100 BFSI: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 207
TABLE 101 BFSI: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 207
8.8.2.1 Banking 207
8.8.2.2 Financial services & fintech 207
8.8.2.3 Insurance 208
8.9 ENERGY & UTILITIES 208
8.9.1 GENERATIVE AI TOOLS IDENTIFY LIKELIHOOD OF OUTAGES AND OFFER QUALITY SERVICES TO RETAIN EXISTING CUSTOMERS 208
8.9.2 ENERGY & UTILITIES: GENERATIVE AI USE CASES 209
FIGURE 49 ENERGY & UTILITIES: GENERATIVE AI USE CASES 209
TABLE 102 ENERGY & UTILITIES: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 209
TABLE 103 ENERGY & UTILITIES: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 210
8.9.2.1 Oil & gas 210
8.9.2.2 Utilities 210
8.9.2.3 Mining 211
8.10 RETAIL & E-COMMERCE 211
8.10.1 GENERATIVE AI TOOLS HELP RETAIL SECTOR OPTIMIZE INVENTORY PLANNING WHILE REDUCING SHELF SHRINKAGE 211
8.10.2 RETAIL & E-COMMERCE: GENERATIVE AI USE CASES 212
FIGURE 50 RETAIL & E-COMMERCE: GENERATIVE AI USE CASES 212
TABLE 104 RETAIL & E-COMMERCE: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 212
TABLE 105 RETAIL & E-COMMERCE: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 213
8.11 GOVERNMENT & DEFENSE 213
8.11.1 LEVERAGING GENERATIVE AI TOOLS FOR THREAT DETECTION AND ENHANCING SURVEILLANCE 213
8.11.2 GOVERNMENT & DEFENSE: GENERATIVE AI USE CASES 214
FIGURE 51 GOVERNMENT & DEFENSE: GENERATIVE AI USE CASES 214
TABLE 106 GOVERNMENT & DEFENSE: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 215
TABLE 107 GOVERNMENT & DEFENSE: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 215
8.11.2.1 Public sector 215
8.11.2.2 Military & defense 216
8.12 OTHER VERTICALS 216
8.12.1 TELECOM SECTOR LEVERAGING GENERATIVE AI TOOLS TO OPTIMIZE NETWORK OPERATIONS AND CUSTOMER SERVICES 216
TABLE 108 OTHER VERTICALS: GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 217
TABLE 109 OTHER VERTICALS: GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 217
9 GENERATIVE AI MARKET, BY REGION 218
9.1 INTRODUCTION 219
FIGURE 52 ASIA PACIFIC GENERATIVE AI MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 219
FIGURE 53 INDIA TO REGISTER HIGHEST CAGR IN GENERATIVE AI MARKET DURING FORECAST PERIOD 220
TABLE 110 GENERATIVE AI MARKET, BY REGION, 2019–2022 (USD MILLION) 220
TABLE 111 GENERATIVE AI MARKET, BY REGION, 2023–2028 (USD MILLION) 220
9.2 NORTH AMERICA 221
9.2.1 NORTH AMERICA: GENERATIVE AI MARKET DRIVERS 221
9.2.2 NORTH AMERICA: RECESSION IMPACT 221
FIGURE 54 NORTH AMERICA: GENERATIVE AI MARKET SNAPSHOT 222
TABLE 112 NORTH AMERICA: GENERATIVE AI MARKET, BY OFFERING, 2019–2022 (USD MILLION) 222
TABLE 113 NORTH AMERICA: GENERATIVE AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 223
TABLE 114 NORTH AMERICA: GENERATIVE AI MARKET, BY SOFTWARE, 2019–2022 (USD MILLION) 223
TABLE 115 NORTH AMERICA: GENERATIVE AI MARKET, BY SOFTWARE, 2023–2028 (USD MILLION) 223
TABLE 116 NORTH AMERICA: GENERATIVE AI MARKET, BY SERVICE, 2019–2022 (USD MILLION) 224
TABLE 117 NORTH AMERICA: GENERATIVE AI MARKET, BY SERVICE, 2023–2028 (USD MILLION) 224
TABLE 118 NORTH AMERICA: GENERATIVE AI MARKET, BY PROFESSIONAL SERVICE, 2019–2022 (USD MILLION) 224
TABLE 119 NORTH AMERICA: GENERATIVE AI MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION) 224
TABLE 120 NORTH AMERICA: GENERATIVE AI MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 225
TABLE 121 NORTH AMERICA: GENERATIVE AI MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 226
TABLE 122 NORTH AMERICA: GENERATIVE AI MARKET, BY VERTICAL, 2019–2022 (USD MILLION) 226
TABLE 123 NORTH AMERICA: GENERATIVE AI MARKET, BY VERTICAL, 2023–2028 (USD MILLION) 227
TABLE 124 NORTH AMERICA: GENERATIVE AI MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 227
TABLE 125 NORTH AMERICA: GENERATIVE AI MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 227
9.2.3 US 228
9.2.3.1 Rising demand for generative AI majorly contributing to US revenue 228
TABLE 126 US: GENERATIVE AI MARKET, BY OFFERING, 2019–2022 (USD MILLION) 228
TABLE 127 US: GENERATIVE AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 228
9.2.4 CANADA 229
9.2.4.1 Growing adoption of generative AI solutions by enterprises 229
TABLE 128 CANADA: GENERATIVE AI MARKET, BY OFFERING, 2019–2022 (USD MILLION) 229
TABLE 129 CANADA: GENERATIVE AI MARKET, BY OFFERING, 2023–2028 (USD MILLION) 229