Product ID: SQMIG45E2176
Report ID:
SQMIG45E2176 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
100 |
Figures:
76
In 2023, North America dominated the global generative AI market with more than 41% of the market share and is expected to do so throughout the analysis period because of raising bank fraudulent activities and pseudo imagination in health care. Also, the presence of large players such as Meta, Google, Microsoft, and other companies in the field of generative AI is predicted to propel the market growth in the region during the analysis period.
However, Asia Pacific is expected to grow at the fastest CAGR of more than 35% during the projection period. Increasing government initiatives for incorporation of AI in Asia Pacific, as well as increased adoption of AI-based applications, is driving the market growth during the analysis period in the region. Also, the governments in this region have a proactive approach on AI development that includes favorable policies, funding initiatives, and strategic partnerships, which creates a platform where the market can grow. Further, the increasing internet connectivity, smartphone usage, and the adoption of various digital platforms have been a contributing factor to the growing popularity of AI-based applications, making the market space a very attractive field for market players.
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Product ID: SQMIG45E2176