Dublin, March 13, 2024 (GLOBE NEWSWIRE) -- The "U.S. Generative AI Market Size, Share & Trends Analysis Report By Component (Software, Services), By Technology, By End-use, By Application, By Model, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. generative AI market size is anticipated to reach USD 33.78 billion by 2030. The market is expected to expand at a CAGR of 36.3% from 2024 to 2030. Increasing data across diverse sectors such as finance, healthcare, and entertainment provides excellent resources for generative AI models, empowering them to generate more precise and varied outputs, thus contributing significantly to the expansion of generative AI in the U.S.
COVID 19 had a positive impact on the U.S. generative AI market. The pandemic accelerated digital transformation across industries as organizations aimed at technological solutions to adapt to remote work, virtual collaboration, and shifting consumer behaviors. Increased reliance on digital platforms and automation created a demand for advanced AI technologies, including generative AI, to streamline processes, personalize customer experiences, and optimize operations. As businesses looked for innovative ways to stay competitive in the face of uncertainty, investment in generative AI solutions surged, thus driving the growth of the U.S. generative AI market growth.
The expansion of the AI tool ecosystem is a significant factor fueling the growth of the generative AI market. As the field of artificial intelligence continues to evolve, various specialized tools and platforms are emerging to support the development and deployment of generative AI models. These tools offer developers and researchers a variety of capabilities, ranging from model training and optimization to deployment and monitoring. Many established companies are funding companies providing such tools to accelerate the advancement of generative AI technology. This investment not only signifies the market potential of generative AI but also underscores the strategic importance of having access to advanced tools and platforms in driving innovation and gaining a competitive edge.
Investment in the machine learning and artificial intelligence sectors to support the generative AI market will drive the U.S. market. As investors recognize the transformative potential of generative AI across industries, they are increasingly allocating capital to startups, research institutions, and established companies developing cutting-edge technologies and solutions.
U.S. Generative AI Market Report Highlights
- Based on components, the software segment accounted for the highest revenue share of 64.8% in 2023 and is expected to retain its position over the forecast period. The segment's growth is attributed to the rising need for automation, increased investment in artificial intelligence, and favorable regulatory environments in the region
- Based on technology, the transformers segment dominated the market in 2023 and is expected to grow at a significant CAGR of 35.6% over the forecast period. It can be attributed to the increasing application of transformers for various applications, such as text-to-image AI, which transforms textual input into visual output, contributing to this trend
- Regarding end-use, the media & entertainment segment accounted for the maximum revenue share in 2023. The increased utilization of generative AI to enhance campaign and advertising journalism is expected to drive the segment's growth
- In February 2024, Google LLC launched ImageFX, an AI-powered tool for image creation. This GenAI model that Google's DeepMind team designed offers a prompt-based UI to edit or create images. It creates images with simple text prompts and modifies them using expressive chips
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. U.S. Generative AI Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Increasing adoption of digital technologies across industries
3.2.1.2. Growing focus on digital transformation and industry 4.0
3.2.2. Market restraint analysis
3.2.2.1. Increasing data privacy and security concerns
3.2.3. Market opportunity analysis
3.2.3.1. Increasing research and development activities in technology companies
3.3. Generative AI Market Analysis Tools
Chapter 4. U.S. Generative AI Market: Component Estimates & Trends Analysis
4.1. Component Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. U.S. Generative AI Market by Component Outlook
4.4. Market Size & Forecasts and Trends Analysis, 2017 to 2030 for the following
4.4.1. Software
4.4.2. Services
Chapter 5. U.S. Generative AI Market: Technology Estimates & Trends Analysis
5.1. Technology Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. U.S. Generative AI Market by Technology Outlook
5.4. Market Size & Forecasts and Trends Analysis, 2017 to 2030 for the following
5.4.1. Generative Adversarial Networks (GANs)
5.4.2. Transformers
5.4.3. Variational auto-encoders
5.4.4. Diffusion Networks
Chapter 6. U.S. Generative AI Market: End-use Estimates & Trends Analysis
6.1. End-use Market Share, 2023 & 2030
6.2. Segment Dashboard
6.3. U.S. Generative AI Market by End-use Outlook
6.4. Market Size & Forecasts and Trends Analysis, 2017 to 2030 for the following
6.4.1. Media & Entertainment
6.4.2. BFSI
6.4.3. IT & Telecommunication
6.4.4. Healthcare
6.4.5. Automotive & Transportation
6.4.6. Gaming
6.4.7. Others
Chapter 7. U.S. Generative AI Market: Application Estimates & Trends Analysis
7.1. Application Market Share, 2023 & 2030
7.2. Segment Dashboard
7.3. U.S. Generative AI Market by Application Outlook
7.4. Market Size & Forecasts and Trends Analysis, 2017 to 2030 for the following
7.4.1. Computer Vision
7.4.2. NLP
7.4.3. Robotics and Automation
7.4.4. Content Generation
7.4.5. Chatbots and Intelligent Virtual Assistants
7.4.6. Predictive Analytics
7.4.7. Others
Chapter 8. U.S. Generative AI Market: Model Estimates & Trends Analysis
8.1. Model Market Share, 2023 & 2030
8.2. Segment Dashboard
8.3. U.S. Generative AI Market by Model Outlook
8.4. Market Size & Forecasts and Trends Analysis, 2017 to 2030 for the following
8.4.1. Large Language Models
8.4.2. Image & Video Generative Models
8.4.3. Multi-Modal Generative Models
8.4.4. Others
Chapter 9. Competitive Landscape
9.1. Recent Developments & Impact Analysis, By Key Market Participants
9.2. Company/Competition Categorization
9.3. Vendor Landscape
9.4. Company Profiles
- Amazon Web Services
- IBM
- Microsoft
- Hugging Face
- Cohere
- Tome.App
- AssemblyAI
- Midjourney
- Klaviyo
For more information about this report visit https://www.researchandmarkets.com/r/bcvqkm
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