Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Generative AI Market to be Worth $109.37 Billion by 2030: Grand View Research, Inc.

This image opens in the lightbox

News provided by

Grand View Research, Inc

11 Jan, 2023, 08:38 GMT

Share this article

Share toX

Share this article

Share toX

SAN FRANCISCO, Jan. 11, 2023 /PRNewswire/ -- The global generative AI market size is anticipated to reach USD 109.37 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 34.6% from 2022 to 2030. Growing demand to modernize workflow across industries is expected to drive the demand for generative AI applications among industries.

Key Industry Insights & Findings from the report:

  • Based on component, the software segment accounted for the highest revenue share of 65.0% in 2021 and is expected to retain its position over the forecast period. Surged use of generative AI-based software owing to its benefits such as better image resolution, reduced conversion time, enhanced performance, and quick availability of output is attributed to the market growth.
  • Based on technology, the transformers segment dominated the market with a share of 41.7% in 2021 and is also expected to grow at a CAGR of 33.9% over the forecast period. This can be attributed to the rising adoption of transformers applications worldwide that focus on predicting text and analyzing words. The diffusion networks segment is also expected to grow at the fastest CAGR of 37.2% over the forecast period. This can be attributed to the variety and penetration of diffusion network applications to deliver generative models that generate realistic output.
  • In March 2022, Google LLC, announced the acquisition of Mandiant, a cybersecurity firm, for USD 5.4 billion. This acquisition would help Google LLC provide better advisory services and security operations suites, which will help customers resolve their most critical security challenges.
  • In terms of end-use, the media & entertainment segment accounted for the maximum revenue share of 19.0% in 2021. This can be attributed to the increasing adoption of generative AI for creating better advertisement campaigns and generative AI-based digital platform for shopping is likely to drive the demand for this technology of the sector. The BFSI segment is likely to grow at the fastest CAGR of 36.4% over the forecast period.
  • North America held the largest share of 40.2% in 2021 and is expected to grow at a CAGR of 34.7% over the forecast period. This can be attributed to the presence of a large number of generative AI market players in the region. Moreover, the large presence of technology experts and developed technology organizations is aiding the growth of the market. Asia Pacific is anticipated to grow at the highest CAGR of over 35.6% over the forecast period owing to developing technology infrastructure and government initiatives.

Read 110-page market research report, "Generative AI Market Size, Share & Trends Analysis Report By Component (Software and Services), By Technology (Generative Adversarial Networks (GANs), Transformers), By End-use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Generative AI Market Growth & Trends

The COVID-19 pandemic had a positive impact on the generative AI market. Many organizations adopted Machine Learning (ML) and Artificial Intelligence (AI) as a response to the pandemic. Many significant market players such as U.S.-based Microsoft, IBM, Google LLC, and Amazon Web Services, Inc., witnessed a growth in sales of AI-based technology during the pandemic. Moreover, accelerated advancement of digital platform also empowered the adoption of generative AI applications. For instance, in June 2020, Amazon Web Services, Inc. announced the addition of a new generative AI algorithm, Autoregressive Convolutional Neural Network (AR-CNN), to its AWS DeepComposer suite of products, allowing developers to create excellent music digitally. AWS DeepComposer also provides learning capsules to developers to learn the basics of algorithms. 

Many generative AI market players offer solutions for numerous applications such as text-to-image, image-to-image, and super-resolution. Moreover, these industry players are researching generative AI technology for advanced image resolution, face aging, and video resolution technologies. For instance, U.S.-based Tesla is developing autonomous algorithms using data from car sensors. Also, the neural networks are further trained to perform object detection and semantic segmentation. 

Generative AI Market Segmentation

Grand View Research has segmented the generative AI market report based on component, technology, end-use, and region:

Generative AI Market - Component Outlook (Revenue, USD Million, 2017 - 2030)

  • Software
  • Service

Generative AI Market - Technology Outlook (Revenue, USD Million, 2017 - 2030)

  • Generative Adversarial Networks (GANs)
  • Transformers
  • Variational Auto-encoders
  • Diffusion Networks

Generative AI Market - End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Media & Entertainment
  • BFSI
  • IT & Telecommunication
  • Healthcare
  • Automotive & Transportation
  • Others

Generative AI Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Chile
    • Argentina
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • South Africa

List of Key Players of Generative AI Market

  • Synthesia
  • MOSTLY AI Inc.
  • Genie AI Ltd.
  • Amazon Web Services, Inc.
  • IBM
  • Google LLC
  • Microsoft
  • Adobe
  • Rephrase.ai
  • D-ID

Check out more related studies published by Grand View Research:

  • Artificial Intelligence Market - The global artificial intelligence market size is expected to reach USD 1,811.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 38.1% from 2022 to 2030. Artificial Intelligence (AI) denotes the concept and development of computing systems capable of performing tasks customarily requiring human assistance, such as decision-making, speech recognition, visual perception, and language translation.
  • Artificial Intelligence In Cybersecurity Market - The global artificial intelligence in cybersecurity market size is estimated to reach USD 93.75 billion by 2030, expanding at a CAGR of 24.3% from 2022 to 2030, according to a new study by Grand View Research, Inc. An unprecedented spike in cyber incidents has fostered the demand for AI, cloud, and machine learning for seamless operations, data safety and prompt response to cyber threats.
  • Automotive Artificial Intelligence Market - The global automotive artificial intelligence market size is expected to reach USD 14.23 billion by 2030, advancing at 21.6% CAGR, according to a new report by Grand View Research, Inc. Artificial Intelligence (AI) in the automotive industry is driven by factors such as government initiatives to incorporate autonomous driving and the growing demand for autonomous vehicles. Furthermore, the automotive industry's expansion is likely to drive the artificial intelligence market's growth.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg 

Modal title

Also from this source

Point Of Care Diagnostics Market Size to be $68.5 Billion by 2030 at CAGR 5.8% - Grand View Research, Inc.

Point Of Care Diagnostics Market Size to be $68.5 Billion by 2030 at CAGR 5.8% - Grand View Research, Inc.

The global point of care diagnostics market size is expected to reach USD 68.5 billion by 2030, registering a CAGR of 5.8% from 2025 to 2030,...

Sports Betting Market Size to Hit $187.39 Billion by 2030 at CAGR 11.0% - Grand View Research, Inc.

Sports Betting Market Size to Hit $187.39 Billion by 2030 at CAGR 11.0% - Grand View Research, Inc.

The global sports betting market size is estimated to reach USD 187.39 billion by 2030, registering a CAGR of 11% from 2025 to 2030, according to a...

More Releases From This Source

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.