Westford,USA, May 23, 2024 (GLOBE NEWSWIRE) -- Generative AI is a type of artificial intelligence capable of creating different types of content through prompts from users. Generative AI models to create text, images, videos, audio, and other synthetic data are gaining massive popularity around the world. The rising abundance of digital data to train generative AI models and extensive utilization of deep learning and neural networks are also promoting the demand for generative AI. The global generative AI market is segmented into component, end-use, industry vertical, and region.
Download a detailed overview:
https://www.skyquestt.com/sample-request/generative-ai-market
Generative AI Software Takes Crown in Revenue Generation
Generative AI software is the key component that brings in the most revenue for market players. High investments in the development of new and advanced generative AI software to satisfy demand from multiple industry verticals are slated to bolster market growth via this sub-segment. The need for custom generative AI software from enterprises to empower creativity or automate processes will also help boost market growth. Meanwhile, the demand for generative AI services is also surging at a rapid pace. A high emphasis on maintaining data security and compliance with different regulations is projected to help the generative AI services sub-segment to propel market growth at a rapid pace.
From Content to Code, Generative AI Does it All
Content is king in this increasingly digital world, whether it be text, video, image, or audio. Generative AI is being extensively used to create content. Use of generative AI for general writing applications is peaking around the world, which is why this end-use holds a significant share of the global market. Image generation and video generation/editing are also estimated to emerge as popular end-uses of generative AI with the launch of models such as Sora and Dall-E.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/generative-ai-market
As generative AI models continue to advance, they are also estimated to revolutionize the marketing industry by automating different SEO and marketing tasks. Coding and web development are also being automated through simple prompts in a generative AI model. The growing use of smart virtual assistants is also estimated to bolster the demand for generative AI with AI assistance capabilities.
Generative AI Holds Potential to Revolutionize Multiple Industries
The IT and telecommunication industry is projected to witness widespread adoption of generative AI models. Increasing deployment of artificial intelligence by tech companies to streamline their resource utilization and high investments in AI adoption allow this sub-segment to hold sway over others. Meanwhile, the use of generative AI in the healthcare industry is also estimated to hold a prominent market share. The use of generative AI in diagnostic algorithms, AI-based imaging, and other digital healthcare solutions allows the generative AI market to be fostered through the healthcare sub-segment.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/generative-ai-market
Other industries such as BFSI and manufacturing are also deploying generative AI models to automate their processes and provide better customer services. Use of generative AI models to create intelligence and smart virtual assistance for vehicle infotainment systems and autonomous vehicles will help the automotive and transportation sub-segment bolster market growth in the future.
The global generative AI market has immense untapped potential in almost all segments and sub-segments. Companies operating in the global generative AIindustry need to introduce innovation to expand their market presence via all segments. Use of generative AI models for image and video generation is slated to pick up pace and create many new opportunities in the long term.
Related Reports:
Artificial Intelligence Market
Artificial Intelligence of Things (AIoT) Market
Edge Artificial Intelligence (AI) Market
Artificial Intelligence (AI) Robots Market
Artificial Intelligence (AI) Hardware Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
