Brooklyn, New York, Feb. 07, 2024 (GLOBE NEWSWIRE) --
According to a new market research report published by Global Market Estimates, the global democratized generative AI (GenAI) market is projected to grow at a CAGR of 33.4% from 2024 to 2029.
The primary factors propelling the market growth are the increasing availability of large datasets and the increasing adoption of AI in various industries, including healthcare, IT, finance, manufacturing, and others.
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Key Market Trends
- Widespread Accessibility: One of the key trends in democratized generative AI (GenAI) is the increasing accessibility of generative AI tools to a broader audience. As technology advances, more user-friendly interfaces and platforms are being developed, allowing individuals with varying levels of technical expertise to leverage generative AI capabilities. This democratization opens up opportunities for non-experts to explore and implement generative AI solutions in diverse fields.
- Collaborative Innovation: The democratization of generative AI fosters collaborative innovation. With more people gaining access to these tools, there is a growing trend of collaborative efforts in problem-solving and creative endeavors. Communities, both within and across industries, are coming together to share insights, best practices, and collectively advance the application of generative AI. This collaborative approach accelerates innovation and expands the potential applications of generative AI.
- Customization and Personalization: As generative AI becomes more democratized, there is a trend towards customization and personalization of AI-generated solutions. Individuals and businesses can tailor generative models to suit their specific needs, whether in design, content creation, or problem-solving. This trend reflects a shift towards more user-centric and adaptable generative AI applications, allowing users to create solutions that align precisely with their unique requirements.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global Democratized Generative AI (GenAI) Market - Forecast to 2029’’
https://www.globalmarketestimates.com/market-report/democratized-generative-ai-genai-market-4402
Key Market Insights
- As per the application outlook, the content creation segment is expected to be the largest segment in the global democratized generative AI (GenAI) market from 2024 to 2029
- As per the industry verticals outlook, the entertainment and media segment is expected to be the largest segment in the global democratized generative AI (GenAI) market from 2024 to 2029
- Asia Pacific is analyzed to be the fastest-growing region in the market
- North America is expected to hold the largest share of the market during the forecast period from 2024 to 2029
- Amazon Bedrock, Markovate, LeewayHertz, SoluLab, Edify Labs Inc., EPAM Systems, Truehold, Kensho Technologies, MOSTLY AI, and Groove Jones among others, are some of the key players in the global democratized generative AI (GenAI) market
User Type Outlook (Revenue, USD Billion, 2024-2029)
- Individual Users
- Enterprise Users
Application Outlook (Revenue, USD Billion, 2024-2029)
- Content Creation
- Product Design
- Development
- Research and Innovation
Industry Verticals Outlook (Revenue, USD Billion, 2024-2029)
- Entertainment and Media
- E-commerce and Retail
- Technology and IT
- Healthcare
- Education
By Regional Outlook (Revenue, USD Billion, 2024-2029)
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Netherlands
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Malaysia
- Singapore
- Vietnam
- Rest of APAC
Central and South America
- Brazil
- Argentina
- Chile
- Rest of CSA
Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of MEA
Contact: Yash Jain
Director- Global Accounts & Strategic Advisory
Email address: yash.jain@globalmarketestimates.com
Phone Number: +1 6026667238
Website: www.globalmarketestimates.com
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