CHICAGO, Aug. 13, 2024 /PRNewswire/ -- 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 as it changes the way images and videos are created, according to a new report by MarketsandMarkets.
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290 - Tables
76 - Figures
375 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2019-2030 |
Base year considered | 2023 |
Forecast period | 2024-2030 |
Forecast units | USD Billion |
Segments Covered | Offering, Image, Video, Vertical, and Region |
Geographies covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Companies covered | Google (US), Microsoft (US), AWS (US), Adobe (US), Nvidia (US), OpenAI (US), Meta (US), Anthropic (US), Databricks (US), Synthesia (UK), Runway AI (US), Jasper (US), Krea AI (US), Simplified (US), Lumen5 (US), Lightricks (Israel), Hypotenuse AI (US), Writesonic (US), Colossyan (UK), D-ID (Israel), Midjourney (US), Descript (US), Animaker (US), DeepBrain (US), Caspa AI (UK), Facet AI (US), Fliki (US), Elai (US), Speechify (US), Inworld AI (US), Invideo (US), HeyGen (US), Tavus (US), Lovo AI (US). |
AI-driven technologies such as GANs, VAEs, and diffusion models have the ability to generate realistic images based on written descriptions. Generative Al creates interactive learning materials in the field of education including virtual environments. These tools allow designers to experiment with new styles and materials without having to create physical prototypes as the fashion industry uses them to create virtual clothing and fashion shows. Al-generated images help architects conceptualize buildings and urban planning by giving clients realistic project previews prior to the start of construction. Thus, by efficiently creating personalized excellent content generative Al opens creative and useful possibilities in a wide range of fields.
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By offering, the services segment to account for higher CAGR during the forecast period
The services segment is anticipated to register the highest CAGR in the AI Image Generator Market driven by several strong factors during the forecast period. Companies across diverse sectors are striving to leverage generative Al technologies as they develop in complexity to enhance their digital media proficiencies. The increasing demand for customized high-quality visual content including videos and images is driving up the need for specialized services that can customize AI-based image generator solutions accordingly. To cut expenses improve marketing and expedite production businesses are beginning to use Al-driven content creation services more frequently.
By image segment, image resolution increase is expected to hold the largest market share during the forecast period
Image based applications are growing in popularity to improve and modify content through different techniques. The AI Image Generator Market is seeing a rise in the use of image resolution increase due to the quick advancements in deep learning techniques and the growing need for top-notch visual content. AI-based image generators offer the best solutions in sectors such as retail and ecommerce, healthcare, and entertainment to improve image quality through automation and create interesting images. This trend is also driven by the demand for a better customer experience and the integration of AI into various processes.
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By Vertical, retail & eCommerce are projected to grow at the highest CAGR during the forecast period
The retail & ecommerce sectors are witnessing the highest compound annual growth rate (CAGR) in the AI Image Generator Market owing to their prompt adoption of generative Al for enhancing customer engagement and operational efficiency. Through personalized content and more efficient marketing strategies, retailers and e-commerce platforms are utilizing Al to improve customer experiences. With the aid of generative Al innovations such as virtual changing rooms, customized ads, and tailored product recommendations are making shopping more pleasurable. The ability to quickly producing personalized images and videos increases revenue and customer engagement which drives these industries expansion.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
During the forecast period, the Asia Pacific region is anticipated to grow at the highest compound annual growth rate (CAGR) in the AI Image Generator Market. With nations such as China, South Korea and India at the forefront of Al research and development, Asia is home to some of the most vibrant technological hubs. Rapid developments and applications of generative Al are facilitated by this technological prowess. Various businesses across this region utilize generative AI technology for customized marketing, improved visual content, and streamlined production procedures. Furthermore, Asia's varied cultural landscape fuels demand for digital content that is localized and customized which in turn propels the development of generative Al technologies that enable the mass production of customized media. In addition, a young tech-savvy populace in the region is more likely to experiment with and adopt new technologies especially those used in the media and creative industries.
Top Key Companies in AI Image Generator Market:
The significant AI image and video generator software and service providers include Google (US), Microsoft (US), AWS (US), Adobe (US), Nvidia (US), OpenAI (US), Meta (US), Anthropic (US), Databricks (US), Synthesia (UK), Runway AI (US), Jasper (US), Krea AI (US), Simplified (US), Lumen5 (US), Lightricks (Israel), Hypotenuse AI (US), Writesonic (US), Colossyan (UK), D-ID (Israel), Midjourney (US), Descript (US), Animaker (US), DeepBrain (US), Caspa AI (UK), Facet AI (US), Fliki (US), Elai (US), Speechify (US), Inworld AI (US), Invideo (US), HeyGen (US), Tavus (US), Lovo AI (US). These companies have used organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the AI Image Generator Market.
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