Chicago, May 09, 2024 (GLOBE NEWSWIRE) -- The global Generative AI Market size is anticipated to grow at a CAGR of 36.7% during the forecast period, from USD 20.9 billion in 2024 to USD 136.7 billion by 2030, according to a new report by MarketsandMarkets™.  The Generative AI Market is poised for substantial growth, propelled by several key business drivers. Factors such as development of cloud storage solutions making data retrieval effortless, advancement in AI and deep learning technologies reshaping industries, and the surge in creative content production and diverse applications collectively steer the expansion of the Generative AI Market. Browse in-depth TOC on "Generative AI Market" 450 - Tables 80 - Figures 550 - Pages Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=142870584 Generative AI Market Dynamics: Drivers: Innovation of cloud storage enabling easy access to data Evolution of AI and deep learning Rise in content creation and creative applications Restraints: High costs associated with training data preparation Issues related to bias and inaccurately generated output Risks associated with data breaches and sensitive information leaks Opportunities: Acceleration in deployment of Large Language Models (LLMs) Arousing interest of enterprises in commercializing synthetic images Robust improvement in generative ML leading to human baseline performance List of Key Players in Generative AI Market: Microsoft (US) OpenAI (US) Google (US) AWS (US) Adobe (US) Anthropic (US) Paige.AI (US) Midjourney (US) Jasper (US) Synthesia (UK) Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=142870584 In the field of generative design, a rapid adoption of generative AI can be expected, particularly in the design of physical products and services. The preferred media format among younger generations is video, so it is not surprising that tools tapping into this trend have been quickly developed by AI toolmakers. Another trend which can be seen is towards multi-modal generative AI. It is anticipated that the forthcoming version of OpenAI's ChatGPT will be capable of understanding and interpreting images, as well as being able to respond to ...