Dublin, November 12, 2024 (GLOBE NEWSWIRE) — The “European Generative AI Market: Focus on Business Processes, Type, Technology, Supply and Country – Analysis and Forecast, 2023-2033” the report has been added to ResearchAndMarkets.com offer.
The European generative AI market is expected to reach $68.79 billion by 2033, from $3.99 billion in 2023, growing at 32.92% during the forecast period 2023-2033.
Artificial intelligence (AI), generative in nature, is a cutting-edge technology that is driving innovation across Europe and radically changing the field of AI applications. Unlike conventional artificial intelligence systems limited to particular pre-established tasks, generative AI has the exceptional ability to independently produce new content, such as text, images, music and even films.
Driving this transformative potential are advanced algorithms and neural networks that enable machines to understand, analyze and synthesize complex data patterns. Generative AI is capable of simulating human creativity using probabilistic modeling and deep learning to produce content that closely resembles human-generated content. Iterative training methods improve the understanding and generation of realistic and consistent content of these AI models.
These templates can produce content based on specific input criteria, such as text prompts, visual descriptions, or audio samples, resulting in customizable and adaptive outputs. Additionally, generative AI can incorporate feedback mechanisms to continually improve the quality and relevance of generated content over time. With a wide range of applications, generative AI offers unprecedented opportunities for innovation and growth in various sectors across Europe.
Market overview
The demand for creative content production across multiple sectors and the development of artificial intelligence technologies are propelling the rapid expansion of the European generative AI market. Marketing, entertainment, design and healthcare are just some of the industries undergoing change thanks to generative AI, which includes algorithms capable of producing text, images, music and videos.
European companies are using generative AI to improve workflows, personalize experiences and power creative processes. The region is positioning itself as a leader in this revolutionary field due to its significant investments in AI technologies and focus on research and development.
Additionally, the ethical use of AI is underlined by European regulatory frameworks, which ensure that technologies comply with safety regulations and societal standards. The market is ready as businesses continue to understand how generative AI can drive productivity and innovation.
How can this report add value to an organization?
Growth/Marketing Strategy: The European generative AI market has witnessed major development from major players operating in the market such as business expansion, partnerships, collaboration, and joint ventures. The strategy favored by companies has been that of partnerships and contracts to strengthen their position in the generative AI market.
Competitive strategy: The main players in the European generative AI market analyzed and presented in the study involve large companies offering generative AI solutions designed for various applications. Additionally, a detailed competitive benchmarking analysis of players operating in the European Generative AI market has been carried out to help the reader understand how the players compare to each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will help the reader understand the untapped revenue pockets in the market.
Key Market Players and Competition Summary: The profiled companies have been selected based on extensive secondary research, which includes analysis of company coverage, product portfolio, market penetration and information collected from primary experts.
Some of the most prominent companies in this market are:
- Google DeepMind
- Synthesis Limited.
Key attributes:
| Report attribute | Details |
| Number of pages | 64 |
| Forecast period | 2023 – 2033 |
| Estimated market value (USD) in 2023 | $3.99 billion |
| Projected market value (USD) by 2033 | $68.79 billion |
| Compound annual growth rate | 32.9% |
| Regions covered | Europe |
Key topics covered:
Executive Summary
Scope and definition
1 markets
1.1 Market Trends: Current and Future
1.1.1 Market definition
1.1.2 Current trends in generative AI
1.1.2.1 Ghost AI
1.1.2.2 Edge Computing for Generative AI
1.1.2.3 Multimodal AI
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Regulatory implications
1.1.3.2 Generative AI Market: Stakeholders
1.1.3.2.1 Cloud platform providers
1.1.3.2.2 Equipment suppliers
1.1.3.2.3 API Providers/API as a Service
1.1.3.2.4 End users
1.1.4 Artificial intelligence industry: current and future prospects
1.1.5 Generative AI innovation timeline: by type
1.1.6 Startup and investment landscape
1.2 Overview of Market Dynamics
1.2.1 Operational factors
1.2.1.1 Advances in machine learning and AI technologies
1.2.1.2 Availability of Big Data
1.2.1.3 Public and media interest
1.2.2 Business Challenges
1.2.2.1 Ethical and regulatory challenges
1.2.2.2 Public perception and trust
1.2.2.3 Data inaccuracy
1.2.3 Business opportunities
1.2.3.1 Ethical AI development and bias mitigation services
1.2.3.2 Platform as a Service (PaaS) offerings
2 regions
2.1 Regional summary
2.2 Conductors and restraints
2.3 Europe
2.3.1 Regional overview
2.3.2 Driving factors for market growth
2.3.3 Factors that challenge the market
2.3.4 Request
2.3.5 Product
2.3.6 United Kingdom
2.3.7 Request
2.3.8 Product
2.3.9 Germany
2.3.10 Request
2.3.11 Product
2.3.12France
2.3.13 Request
2.3.14 Product
2.3.15 Rest of Europe
2.3.16 Request
2.3.17 Product
3 Markets – Competitive Benchmarking and Company Profiles
3.1 Next frontiers
3.2 Geographic assessment
3.2.1 Google DeepMind
3.2.1.1 Overview
3.2.1.2 Main products/product portfolio
3.2.1.3 Top competitors
3.2.1.4 Target customers
3.2.1.5 Key personnel
3.2.1.6 Analyst View
3.2.1.7 Market share, 2022
3.2.2 Synthesia Limited.
3.2.2.1 Overview
3.2.2.2 Main products/product portfolio
3.2.2.3 Top competitors
3.2.2.4 Target customers
3.2.2.5 Key personnel
3.2.2.6 Analyst View
3.2.2.7 Market share, 2022
4 Research methodology
For more information on this report, visit https://www.researchandmarkets.com/r/q9wc54
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