Generative AI Market to be Dominated by Media & Entertainment Through 2028
The increasing demand for AI solutions to drive the global generative
AI market during the forecast period.
According to
TechSci Research report, “Generative AI Market – Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028,” the generative AI market is
expected to see significant growth in the coming years, with the media and
entertainment industry expected to dominate the market. Generative AI refers to
machine learning systems that can create new content, such as images, videos,
and audio, that are like those created by humans. The media and entertainment
industry has already started to adopt generative AI technology for a variety of
applications, including creating virtual reality experiences, generating
personalized recommendations for viewers, and producing more engaging social
media content. The ability to create highly personalized and interactive
content has the potential to revolutionize the entertainment industry and drive
new revenue streams.
In addition to media and entertainment,
other industries that are expected to benefit from generative AI include
healthcare, finance, and manufacturing. For example, in healthcare, generative
AI can be used to create personalized treatment plans based on individual
patient data. In finance, generative AI can be used to analyze vast amounts of
financial data and generate investment recommendations. Overall, the generative
AI market is expected to see significant growth in the coming years as more
industries adopt this technology. However, there are also concerns about the
potential impact on jobs and the need for regulation to ensure that the
technology is used ethically and responsibly.
Browse over XX market data
Figures spread through XX Pages and an in-depth TOC on the "Global Generative AI Market"
Based on Component, the market is segmented into
Software, and Services. Based on Technology, the market is segmented into
Generative Adversarial Networks (GANs), Transformers, Variational Auto-encoders,
and Diffusion Networks. Based on End-Use, the market is segmented into, Media
& Entertainment, BFSI, IT & Telecommunication, Healthcare, Automotive
& Transportation, Others.
Generative Adversarial Networks (GANs) are a type
of generative AI technology that has shown significant potential for a wide
range of applications, and it is expected to play a significant role in the global
generative AI market. GANs work by training two neural networks simultaneously.
One generator network that creates new data samples and a discriminator network
that evaluates the generated samples to distinguish them from real data. The
generator network is then refined through this adversarial process, producing
more realistic output over time. GANs have been used for a wide range of
applications, including generating realistic images, music, speech, and even 3D
models. In the media and entertainment industry, GANs have been used to create
photorealistic images and videos, which can be used for virtual reality and other
immersive experiences. Moreover, GANs can be used for data augmentation, where
synthetic data can be generated to enhance the training of other AI models.
This has been particularly useful in areas where obtaining large amounts of
real data is difficult, such as in medical imaging. While GANs are a powerful
tool for generative AI, there are also challenges associated with their use,
such as the need for large amounts of computing power and data to train the
networks. Additionally, there are concerns around the ethical implications of
GAN-generated content, particularly in areas such as deepfakes. Overall, GANs
are expected to play a significant role in the generative AI market,
particularly in areas such as media and entertainment, but there is still much
research to be done to improve their performance and address the associated
challenges.
In October 2022, Adobe launched creator-centric
artificial intelligence, which is a generative AI-based technology on its Adobe
creative tools such as Lightroom, Adobe Express, and Photoshop. In February
2023, Google launched AI chatbot named Bard. It is based on generative AI. The
new chatbot improves the accuracy and speed of natural language processing by
integrating with Google’s search engine.
Key market players in the Global
Generative AI Market include:
- OpenAI, L.L.C.
- NVIDIA Corporation
- Google LLC
- Microsoft Corporation
- Meta Platforms, Inc.
- Adobe Inc.
- Intel Corporation
- International Business
Machines Corp.
- Amazon Web Services, Inc.
- MOSTLY AI Inc.
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“The market for generative AI
is anticipated to expand significantly over the next few years because of the
expanding use cases for generative AI technology, the expanding adoption of
generative AI by various industries, and the rising demand for advanced AI
solutions. However, the market faces a few challenges, including ethical
concerns about the potential misuse of generative AI, a large amount of
high-quality training data, and a lack of standardized evaluation metrics for
generative AI models. Overall, the generative AI market offers significant
opportunities for businesses and researchers to develop innovative solutions
that can improve productivity, creativity, and efficiency across multiple
domains,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Generative AI Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028, Segmented By Component (Software,
Services), By Technology (Generative Adversarial Networks (GANs), Transformers,
Variational Auto-encoders, Diffusion Networks), By End-Use (Media &
Entertainment, BFSI, IT & Telecommunication, Healthcare, Automotive &
Transportation, Others), By Region, Competition,” has
evaluated the future growth potential of Generative AI and provides statistics and information on market structure, size, share,
and future growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global Generative AI market.
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