Gen AI Services Market 2024

The Generative AI Services Market is undergoing a transformative phase, characterized by rapid growth, significant technological advancements, and increasing adoption across various industries. Gen AI, which encompasses technologies that can create new content and solutions by learning from existing data, is revolutionizing how businesses operate, innovate, and interact with customers. This report aims to provide a comprehensive analysis of the generative AI services market, focusing on its current state, growth prospects, industry segmentation, key market drivers, challenges, opportunities, competitive landscape, and future trends.

Key Highlights

• The generative AI market is on a significant growth trajectory, with the total market size expected to expand at a CAGR of 40.2% from 2023 to 2033.
• The services component is projected to grow even faster at a CAGR of 45.0%, indicating a substantial shift towards service-oriented solutions.
• By 2033, the market size for generative AI services is anticipated to surpass that of software, underscoring the increasing demand for implementation, customization, and support services.
• The market is dominated by major players like Accenture, IBM, Capgemini, Cognizant, TCS, and Infosys, who are making substantial investments to strengthen their generative AI capabilities
• The BFSI and Retail sectors lead the market share, each accounting for 25% and 20%, respectively.

Table of Contents:

1. Executive Summary
2. Introduction
3. Gen AI Market Overview
   a. Total market size and growth rate by key components
   b. Market share of key players
4. Market Share by Key Industry Segments
   a. BFSI
   b. Life Sciences
   c. Retail
   d. Manufacturing
   e. Others
5. Market Share by Key Geographies
6. Market Challenges
7. Market Opportunities
8. Future Trends and Predictions