The Rise of AI Image Generator Market: A $60.8 billion Industry Dominated by Google (US), Microsoft (US), OpenAI (US) | MarketsandMarkets™
Delray Beach, FL, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The AI image generator market is projected to grow from USD 8.7 billion in 2024 to USD 60.8 billion in 2030, at a CAGR of 38.2% during the forecast period, according to a new report by MarketsandMarkets™. With sophisticated machine learning models, generative AI is best at producing visually stunning video and image content. It can apply style transfer to combine different artistic styles create completely new images with GANs (Generative Adversarial Networks) in paint areas that are missing and use super-resolution techniques to improve resolution. It also allows deepfake technology to modify video generate new content based on text descriptions and transfer motion patterns to produce realistic animations in videos.
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AI Image Generator Market Dynamics:
Drivers:
- Increased productivity
- Enhanced creativity
- Improved artist performance
- Importance of human input
Restraints:
- Content Authenticity
- Industry Impact
- Ethical Implications
- Regulatory Challenges
Opportunities:
- Enhanced Image Synthesis
- Advanced Image-to-Image Translation
- Diverse Industry Applications
List of Key Players in AI Image Generator Market:
- Google (US)
- Microsoft (US)
- AWS (US)
- Adobe (US)
- Nvidia (US)
- OpenAI (US)
- Meta (US)
- Anthropic (US)
- Databricks (US)
- Synthesia (UK)
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Based on offering, the AI image generator market has been segmented into software and services. Based on software by type, the market is divided into Generative Adversarial Networks, Transformer Models, Convolutional Neural Networks, Variational Autoencoders, and others (Autoregressive Models, and Diffusion Models). Generative Adversarial Networks are bifurcated into Conditional GANs, Style GANs, and Cycle GANs. Whereas Convolutional Neural Networks is bifurcated into image-generating CNNs and Video-Generating CNNs. Further based on software by deployment mode, the market is segmented into cloud and on-premises. Services are segmented into professional services and managed services. Professional services encompass training & consulting services, system integration & implementation services, and support and maintenance services.
Based on image application the AI image generator market is divided into image generation, semantic image-to-photo translation, image-to-image conversion, image resolution increase, 3D shape generation, and other image-based applications (image manipulation, and image captioning).
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Also based on the video application, the AI image generator market is further divided into video generation, video prediction, video editing & enhancement, video compression & transmission, creative storytelling, video annotation, video synthesis & content creation, and other video-based applications (video dubbing, and video style transfer).
The vertical segment is divided into media & entertainment, BFSI, healthcare & life sciences, manufacturing, retail & e-commerce, transportation & logistics, construction & real estate, energy & utilities, government & defense, IT/ITeS, telecommunications and other verticals (education, and travel & hospitality). Various verticals across industries are significantly influenced by the role of generative AI in video and image modalities, shaping its growth trajectory and adoption patterns. This technology impacts various sectors: in media & entertainment, it enhances visual effects and content creation; in healthcare & life sciences, it aids in medical imaging and diagnostics; in education, it creates interactive and immersive learning materials; and in retail & ecommerce, it assists in virtual try-ons and personalized catalog generation.
The market for AI image generator has been divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2024, North America is projected to have the largest share of the AI image generator market, with Europe following closely behind. The region has rapidly embraced AI image generators due to its strong technological foundation, substantial funding in AI studies, and a tradition of creativity. The quick advancement and implementation of generative AI technology is fueled by the region's sophisticated computing resources and extensive tech sector.
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