India Generative Ai Market
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India Generative AI Market, By Component (Software, Service); By Technology (Generative Adversarial Networks (GANs), Transformers, Variational Auto-encoders, Diffusion Networks); By Application (Computer Vision, NLP, Robotics & Automation, Content Generation, Chatbots & Intelligent Virtual Assistants, Predictive Analytics); By Model (Large Language Models, Image & Video Generative Models, Multi-modal Generative Models); By End Use (Media & Entertainment, BFSI, IT & Telecommunications, Healthcare, Automotive & Transportation, Gaming); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: June 2024
- Report ID: BWC24437
- Available Format: PDF
- Page: 200
Report Overview
A spurring demand for automation in content creation, personalization craze, and integration with machine learning are expected to drive the India Generative AI Market during the forecast period between 2024 and 2030.
India Generative AI Market – Industry Trends & Forecast Report, 2030
The India Generative AI Market size was estimated at USD 3.41 billion in 2023. During the forecast period between 2024 and 2030, the India Generative AI Market size is projected to grow at a CAGR of 8.1% reaching a value of USD 6.78 billion by 2030. Prominent drivers of the market include the growing influx of generated data, rising sophistication of machine learning techniques, the expanding information technology (IT) sector, and the increasing adoption of products across a wide array of industries. Generative AI harnesses the power of advanced neural networks, like Generative Adversarial Networks (GANs) and Variational Autoencoders (VAEs), to produce remarkably lifelike content. This includes images, text, audio, video, and a vast array of other formats. The applications of generative AI are expanding rapidly across numerous industries. For instance, it can be used to create stunning artwork, music, and video game scenes. It can also enhance datasets through data augmentation, a technique that helps improve the performance of machine learning models. Also, generative AI plays a valuable role in natural language processing tasks, such as machine translation and text summarization. These diverse applications contribute to the market's significant growth. Notably, generative AI is revolutionizing fields like drug discovery and material design. By enabling the creation of tailored molecular structures and materials, generative AI can significantly accelerate the development of new drugs and materials with specific properties. In addition, generative AI facilitates personalized content creation and recommendations, offering tailored solutions across multiple domains, such as e-commerce and entertainment. The substantial investments from established firms and venture capitalists have bolstered research, development, and commercialization endeavors, fostering a promising market outlook in India.
Generative AI – Overview
Generative AI constitutes a branch of artificial intelligence (AI) dedicated to producing novel content, spanning images, videos, music, or text. In contrast to conventional AI models geared towards classification or prediction, generative AI models strive to generate fresh content absent in the training dataset. Leveraging extensive datasets, they discern patterns and correlations to generate new instances, often mimicking the style, structure, and attributes of the input data. Consequently, its application transcends various sectors, including healthcare, information technology (IT), robotics, and banking, financial services, and insurance (BFSI).
India Generative AI Market
Growth Drivers
Rising Demand for Automated Content Creation
In the age of digital transformation, there's a burgeoning demand for automated content creation, driven by the potential of Generative AI (Gen AI). This technology promises to revolutionize industries, overhaul value chains, and significantly enhance productivity and efficiency. As enterprises in India gear up to embrace Gen AI, they recognize its capacity to streamline processes, including content creation, through automation. With Gen AI at the helm, businesses are poised to witness a paradigm shift towards automated content generation, facilitating agile responses to consumer needs and market trends. This rising demand underscores the pivotal role Gen AI plays in shaping the future landscape of content creation across various sectors in India.
Challenges
Quality and Reliability Issues
The India Generative AI Market faces significant challenges related to quality and reliability. These issues restrain widespread adoption and hinder the realization of Gen AI's full potential. Concerns regarding the accuracy and consistency of generated content, alongside reliability in critical decision-making processes, pose barriers to trust and confidence among users and enterprises. Addressing these challenges is imperative to foster trust, enhance reliability, and unlock the transformative capabilities of generative AI within the Indian market landscape.
Impact of Escalating Geopolitical Tensions on India Generative AI Market
Geopolitical tensions can have a multifaceted impact on the India Generative AI Market. Uncertainties stemming from geopolitical conflicts can disrupt supply chains, impede international collaborations, and heighten regulatory complexities. Such disruptions may hinder the flow of essential resources, including talent, technology, and investment, crucial for the advancement of Generative AI initiatives. Moreover, heightened geopolitical tensions can instigate trade barriers and geopolitical risks, dampening investor confidence and hindering market growth. To mitigate these impacts, fostering stable diplomatic relations, promoting open dialogue, and fostering a conducive environment for international cooperation are essential to sustain and propel the growth of the Generative AI market in India.
India Generative AI Market
Segmental Coverage
India Generative AI Market – By Component
By component, the India Generative AI Market is bifurcated into Software and Service segments. The software segment holds a higher share in the India Generative AI Market by component. It is primarily due to its critical role in developing and deploying AI solutions. Generative AI software encompasses a range of applications, from natural language processing and automated content creation to predictive analytics and personalized recommendations. The demand for these advanced AI-driven capabilities drives investment in software development. Furthermore, the scalability, flexibility, and continuous innovation associated with software solutions make them essential for enterprises seeking to integrate AI into their operations. This robust demand and the essential nature of software tools contribute to the higher market share of the software segment in the India Generative AI market.
India Generative AI Market – By Technology
Based on technology, the India Generative AI Market is divided into Generative Adversarial Networks (GANs), Transformers, Variational Auto-encoders, and Diffusion Networks segments. The generative adversarial networks (GANS) segment holds the highest share in the India Generative AI Market by technology. It is primarily due to their superior capacity for generating highly realistic data. Utilizing a dual neural network system—the generator and the discriminator—GANs excel in producing convincing images, videos, and text. Their extensive applications across image generation, medical imaging, and natural language processing drive significant demand. Furthermore, advancements in GAN architectures, such as Deep Convolutional GANs and Wasserstein GANs, enhance their performance and stability. This technological edge and broad applicability establish GANs as the leading segment in India's growing AI sector.
India Generative AI Market – By Application
Based on application, the India Generative AI Market is divided into Computer Vision, NLP, Robotics And Automation, Content Generation, Chatbots & Intelligent Virtual Assistants, and Predictive Analytics segments.
India Generative AI Market – By Model
Based on model, the India Generative AI Market is divided into Large Language Models, Image & Video Generative Models, and Multi-modal Generative models segments. The image & video generative models segment holds the highest share in the India Generative AI Market by model. It can be attributed to the substantial consumer demand for high-quality, visually appealing content. Advances in generative AI have enabled the creation of sophisticated, realistic, and diverse images, driving widespread adoption in various industries. Additionally, the increasing consumption of video content on platforms like social media, streaming services, and online advertising has fueled the need for generative AI in video production. This technology enhances and automates video creation processes, meeting the growing demand and solidifying its dominant market position.
India Generative AI Market – By End Use
Based on end use, the India Generative AI Market is divided into Media & Entertainment, BFSI, IT & Telecommunications, Healthcare, Automotive & Transportation, and Gaming segments. The media & entertainment segment holds the highest share in the India Generative AI Market by end use. The media & entertainment industry significantly relies on visual content for movies, TV shows, video games, and immersive VR and AR experiences. Generative AI techniques, such as image and video generation, are essential in creating visually stunning and realistic content, including computer-generated graphics, special effects, virtual environments, and characters. Animation studios and visual effects companies are increasingly adopting these techniques to streamline and enhance production processes. This widespread use of generative AI in the creation of high-quality visual content drives the segment's dominance in the India Generative AI Market.
India Generative AI Market – By Region
Geographically, the India Generative AI Market is divided into North India, South India, East India, and West India regions. The South India region holds the highest share in the India Generative AI Market. Bengaluru, situated in South India, stands out as the focal point of India's Generative AI landscape. Renowned as the country's tech hub, Bengaluru harbors a multitude of AI startups and established tech giants, all harnessing the power of generative AI across diverse sectors. The city's companies lead the charge in pioneering innovative AI solutions tailored to industries such as insurance, agriculture, and cultural heritage. Noteworthy generative AI platforms like PolicyGPT and BharatGPT trace their origins to Bengaluru-based enterprises, underscoring the city's prominence in AI innovation and implementation. With its wealth of talent, resources, and a conducive ecosystem, Bengaluru emerges as a pivotal epicenter for driving generative AI advancements across India.
Competitive Landscape
Major players operating in India Generative AI Market include GeekyAnts, Dreamztech Solutions, IBM, Google LLC, Microsoft, Adobe, Rephrase.ai, Agile Infoways LLC, and Intuz. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
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In May 2024 - Airtel formed a collaboration with Google Cloud to deploy advanced AI solutions for Indian businesses, aiming to revolutionize customer experiences. This long-term partnership offers a suite of cloud solutions to accelerate cloud adoption and modernization. Airtel provides cloud managed services to its vast customer base, including large enterprises and emerging businesses. The collaboration focuses on developing AI/ML solutions leveraging Airtel's data, enhancing capabilities such as geospatial analytics, voice analytics, and marketing technology. Airtel's establishment of a managed services center in Pune underscores its commitment to delivering cutting-edge cloud-based solutions, supported by 300+ experts trained in Google Cloud services.
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In December 2023 - Yantra Tech Innovation Labs Pvt Ltd (Yantra) announced its plans to invest INR 100 crore in the India Generative AI market, aiming to propel AI development in the country. The investment includes hiring 500 skilled individuals over two years.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2030 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
Revenue in USD Billion |
Market Coverage |
India |
Product/ Service Segmentation |
Component, Technology, Application, Model, End Use, Region |
Key Players |
GeekyAnts, Dreamztech Solutions, IBM, Google LLC, Microsoft, Adobe, Rephrase.ai, Agile Infoways LLC, Intuz |
By Component
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Software
-
Service
By Technology
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Generative Adversarial Networks (GANs)
-
Transformers
-
Variational Auto-encoders
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Diffusion Networks
By Application
-
Computer Vision
-
NLP
-
Robotics & Automation
-
Content Generation
-
Chatbots & Intelligent Virtual Assistants
-
Predictive Analytics
By Model
-
Large Language Models
-
Image & Video Generative Models
-
Multi-modal Generative Models
By End Use
-
Media & Entertainment
-
BFSI
-
IT & Telecommunications
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Healthcare
-
Automotive & Transportation
-
Gaming
By Region
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North India
-
South India
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East India
-
West India
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- India Generative AI Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Rising Demand for Automated Content Creation
- Personalization Craze
- Integration with Machine Learning
- Restraints
- Quality and Reliability Issue
- Data Biases
- Opportunities
- Advancements in AI Technology
- Shift Towards Subscription Models
- Challenges
- Lack of Standardization
- Lack of Explainability and Control
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- India Generative AI Market: Marketing Strategies
- India Generative AI Market: Pricing Analysis
- India Generative AI Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Component
- Software
- Service
- By Technology
- Generative Adversarial Networks (GANs)
- Transformers
- Variational Auto-encoders
- Diffusion Networks
- By Application
- Computer Vision
- NLP
- Robotics And Automation
- Content Generation
- Chatbots & Intelligent Virtual Assistants
- Predictive Analytics
- Others
- By Model
- Large Language Models
- Image & Video Generative Models
- Multi-modal Generative Models
- Others
- By End Use
- Media & Entertainment
- BFSI
- IT & Telecommunication
- Healthcare
- Automotive & Transportation
- Gaming
- Others
- By Region
- North India
- South India
- East India
- West India
- By Component
- Market Size & Forecast, 2019–2030
- North India Generative AI Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Component
- By Technology
- By Application
- By Model
- By End Use
- Market Size & Forecast, 2019–2030
- South India Generative AI Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Component
- By Technology
- By Application
- By Model
- By End Use
- Market Size & Forecast, 2019–2030
- East India Generative AI Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Component
- By Technology
- By Application
- By Model
- By End Use
- Market Size & Forecast, 2019–2030
- West India Generative AI Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Component
- By Technology
- By Application
- By Model
- By End Use
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- India Generative AI Market Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Escalating Geopolitical Tensions on India Generative AI Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- GeekyAnts
- Dreamztech Solutions
- IBM
- Google LLC
- Microsoft
- Adobe
- Rephrase.ai
- Agile Infoways LLC
- Intuz
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Country
- Assumptions & Limitations
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 India Generative AI Segmentation
Figure 2 India Generative AI Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 India Generative AI Market Size, By Value (USD Billion), 2019–2030
Figure 5 India Generative AI Market Share, By Component, By Value, 2019–2030
Figure 6 India Generative AI Market Share, By Technology, By Value, 2019–2030
Figure 7 India Generative AI Market Share, By Application, By Value, 2019–2030
Figure 8 India Generative AI Market Share, By Model, By Value, 2019–2030
Figure 9 India Generative AI Market Share, By End Use, By Value, 2019–2030
Figure 10 India Generative AI Market Share, By Region, By Value, 2019–2030
Figure 11 North India Generative AI Market Size, By Value (USD Billion), 2019–2030
Figure 12 North India Generative AI Market Share, By Component, By Value, 2019–2030
Figure 13 North India Generative AI Market Share, By Technology, By Value, 2019–2030
Figure 14 North India Generative AI Market Share, By Application, By Value, 2019–2030
Figure 15 North India Generative AI Market Share, By Model, By Value, 2019–2030
Figure 16 North India Generative AI Market Share, By End Use, By Value, 2019–2030
Figure 17 South India Generative AI Market Size, By Value (USD Billion), 2019–2030
Figure 18 South India Generative AI Market Share, By Component, By Value, 2019–2030
Figure 19 South India Generative AI Market Share, By Technology, By Value, 2019–2030
Figure 20 South India Generative AI Market Share, By Application, By Value, 2019–2030
Figure 21 South India Generative AI Market Share, By Model, By Value, 2019–2030
Figure 22 South India Generative AI Market Share, By End Use, By Value, 2019–2030
Figure 23 East India Generative AI Market Size, By Value (USD Billion), 2019–2030
Figure 24 East India Generative AI Market Share, By Component, By Value, 2019–2030
Figure 25 East India Generative AI Market Share, By Technology, By Value, 2019–2030
Figure 26 East India Generative AI Market Share, By Application, By Value, 2019–2030
Figure 27 East India Generative AI Market Share, By Model, By Value, 2019–2030
Figure 28 East India Generative AI Market Share, By End Use, By Value, 2019–2030
Figure 29 West India Generative AI Market Size, By Value (USD Billion), 2019–2030
Figure 30 West India Generative AI Market Share, By Component, By Value, 2019–2030
Figure 31 West India Generative AI Market Share, By Technology, By Value, 2019–2030
Figure 32 West India Generative AI Market Share, By Application, By Value, 2019–2030
Figure 33 West India Generative AI Market Share, By Model, By Value, 2019–2030
Figure 34 West India Generative AI Market Share, By End Use, By Value, 2019–2030
List of Tables
Table 1 India Generative AI Market Size, By Value (USD Billion), 2019–2030
Table 2 India Generative AI Market Size, By Component, By Value, 2019–2030
Table 3 India Generative AI Market Size, By Technology, By Value, 2019–2030
Table 4 India Generative AI Market Size, By Application, By Value, 2019–2030
Table 5 India Generative AI Market Size, By Model, By Value, 2019–2030
Table 6 India Generative AI Market Size, By End Use, By Value, 2019–2030
Table 7 India Generative AI Market Size, By Region, By Value, 2019–2030
Table 8 North India Generative AI Market Size, By Value (USD Billion), 2019–2030
Table 9 North India Generative AI Market Size, By Component, By Value, 2019–2030
Table 10 North India Generative AI Market Size, By Technology, By Value, 2019–2030
Table 11 North India Generative AI Market Size, By Application, By Value, 2019–2030
Table 12 North India Generative AI Market Size, By Model, By Value, 2019–2030
Table 13 North India Generative AI Market Size, By End Use, By Value, 2019–2030
Table 14 South India Generative AI Market Size, By Value (USD Billion), 2019–2030
Table 15 South India Generative AI Market Size, By Component, By Value, 2019–2030
Table 16 South India Generative AI Market Size, By Technology, By Value, 2019–2030
Table 17 South India Generative AI Market Size, By Application, By Value, 2019–2030
Table 18 South India Generative AI Market Size, By Model, By Value, 2019–2030
Table 19 South India Generative AI Market Size, By End Use, By Value, 2019–2030
Table 20 East India Generative AI Market Size, By Value (USD Billion), 2019–2030
Table 21 East India Generative AI Market Size, By Component, By Value, 2019–2030
Table 22 East India Generative AI Market Size, By Technology, By Value, 2019–2030
Table 23 East India Generative AI Market Size, By Application, By Value, 2019–2030
Table 24 East India Generative AI Market Size, By Model, By Value, 2019–2030
Table 25 East India Generative AI Market Size, By End Use, By Value, 2019–2030
Table 26 West India Generative AI Market Size, By Value (USD Billion), 2019–2030
Table 27 West India Generative AI Market Size, By Component, By Value, 2019–2030
Table 28 West India Generative AI Market Size, By Technology, By Value, 2019–2030
Table 29 West India Generative AI Market Size, By Application, By Value, 2019–2030
Table 30 West India Generative AI Market Size, By Model, By Value, 2019–2030
Table 31 West India Generative AI Market Size, By End Use, By Value, 2019–2030
Table 32 GeekyAnts Company Overview
Table 33 GeekyAnts Financial Overview
Table 34 Dreamztech Solutions Company Overview
Table 35 Dreamztech Solutions Financial Overview
Table 36 IBM Company Overview
Table 37 IBM Financial Overview
Table 38 Google LLC Company Overview
Table 39 Google LLC Financial Overview
Table 40 Microsoft Company Overview
Table 41 Microsoft Financial Overview
Table 42 Adobe Company Overview
Table 43 Adobe Financial Overview
Table 44 Rephrase.ai Company Overview
Table 45 Rephrase.ai Financial Overview
Table 46 Agile Infoways LLC Company Overview
Table 47 Agile Infoways LLC Financial Overview
Table 48 Intuz Company Overview
Table 49 Intuz Financial Overview
Market Segmentation
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