By2029, the media, advertising, and entertainment vertical will represent a $17.9 billion opportunity.

ResearchAndMarkets.com now offers the "Generative AI Market by Technology, Component, Application, Industry Vertical, and Region 2024-2029" report.The expected effects of the generative AI industry are evaluated in this research across multiple domains, such as ChatGPT in software, general-purpose platforms, IoT systems, and embedded consumer products. In addition to discussing the potential applications and use cases in several business verticals, the research also examines the underlying relationship between generative AI and AGI, ASI, and strong AI, as well as the influence of enabling technologies like 5G, business 4.0, MEC, self-driven networks, and others.A few of the report's findings: Through 2029, North America will dominate the worldwide generative AI market. Through 2029, the top industry vertical for generative AI will be healthcare.

Through 2029, API-enabled solutions will have the fastest rate of growth (CAGR of 47%). By 2029, generative AI services will have grown to a $2.5 billion market at a 43.9% CAGR. By 2029, the media, advertising, and entertainment sector will represent a $17.9 billion potential.Artificial intelligence that can create unique and novel data or content, including literature, music, or graphics, is known as generative AI. Generative AI use algorithms to produce new data that did not previously exist, in contrast to other forms of AI that are intended to identify and categorize existing data. In order to accomplish this, the data is analyzed for patterns and relationships, and new content is created in response to those patterns.New models and architectures are being developed to enhance the diversity and quality of generated content as a result of the rapid advancement of technology.

The use of technologies like GANs, transformers, and VAEs made it possible to create generative models that are more intricate and lifelike. To guarantee the moral and equitable use of technology, there were still issues to be resolved in areas like bias and data privacy.The growing requirement for automation and the expanding use of generative AI across a range of industries are driving the industry. Large datasets and the development of deep learning algorithms have also contributed to the market's expansion.