The Generative AI Market is projected to grow significantly from USD 20.9 billion in 2024 to USD 136.7 billion by 2030, with a CAGR of 36.7%. Factors driving this growth include advancements in cloud storage technology, AI, and deep learning, as well as increased demand for creative applications. Deep learning software is expected to dominate the market, particularly in managing complex data. Video data modality is set to experience rapid growth due to the popularity of video content. North America leads in market share, with key players like Microsoft, Google, and IBM investing heavily in generative AI. The market is witnessing collaborations and innovations, such as Microsoft and Adobe integrating workflows, and Google launching advanced generative AI models. Generative AI offers benefits such as rapid content creation, personalized content, cost-effectiveness, creativity promotion, scalability, brand consistency, and valuable insights. The report aims to analyze market trends, opportunities, competitive landscape, and regional impacts, providing a comprehensive understanding of the Generative AI Market. For more information, visit MarketsandMarkets™ website.
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#GenerativeAI Market projected to reach $136.7 billion by 2030 #AIrevolution
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