Pune, India, Nov. 21, 2023 (GLOBE NEWSWIRE) — The global AI image generator market size was valued at USD 257,175 thousand in 2022 and is projected to reach USD 917,448 thousand by 2030, exhibiting a CAGR of 17.4% during the forecast period. Fortune Business Insights™ provides this information in its research report, titled “AI Image Generator Market Forecast, 2023-2030”
AI image generators have a broad spectrum of applications, ranging from producing digital art and illustrations to crafting visual elements for marketing collateral. They are also instrumental in conceptualizing architectural designs and assisting in content generation across various professional domains. The adoption of AI image generation by businesses to produce compelling and authentic visuals is driving market growth as more industries acknowledge its potential.
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Key Industry Development:
Stability AI unveiled Stable Diffusion XL 1.0, an advanced text-to-image model available on GitHub and through ClipDrop, DreamStudio apps, and Stability’s API. This release helps heighten contrast, significantly elevated image quality, and showcase richer colors. It also demonstrates more effective management of shadows and lighting when contrasted to its previous version.
Key Takeaways
- Rising Versatility of AI-Generated Images Across Multiple Industries Spurred Market Growth
- Enterprise Segment Dominates the Market due to Task Automation and Streamlining
- Growing Focus on Supplier Collaboration and Relationship Management to Surge Market Growth
- Rising Adoption of Digital Transformation Initiatives to Drive Market Growth
- By Enterprise Type Analysis: Large Enterprises to Dominate with the Support of Growing Service Demand
Discover the Leading Players Featured in the Report:
“Companies leading the AI Image Generator Market share are Adobe (U.S.), OpenAI (U.S.), Craiyon LLC. (Norway), NightCafe Studio (Australia), Resleeve (Netherlands), Runway AI, Inc. (U.S.), Stability AI (U.K.), Starryai. (U.S.), VanceAI (China), Jasper.ai (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 17.4% |
| 2030 Value Projection | USD 917,448 Thousand |
| Base Year | 2022 |
| AI Image Generator Market Size in 2022 | USD 257,175 Thousand |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments covered | Application, End User and Geography |
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Drivers and Restraints:
Rising Adoption of Virtual Reality (VR) and Augmented Reality (AR) to Spur Market Expansion
AR and VR technologies are being adopted considering the demand for exceptionally high-quality and lifelike visuals. AI-powered image generators specialize in crafting realistic 3D environments and assets, thereby significantly elevating the overall experience offered by AR and VR. This improvement is a significant driving force behind the AI image generator market growth, as it ensures more engaging and immersive experiences for users.
However, these systems rely on extensive image datasets, which could contain personal or sensitive information. This reliance raises substantial concerns regarding data privacy, posing a considerable obstacle to the market’s expansion.
Segments:
By Enterprise Type
- Large Enterprises
- Small and Medium Enterprises (SMEs)
By End-user
- BFSI
- Consumer Goods and Retail
- Healthcare and Life Sciences
- Manufacturing and Automotive
- IT and Telecommunication
- Energy and Utilities
- Others
By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
Regional Insights:
North America Holds the Prominent Share Owing to Its Robust Tech Ecosystem
North America holds the largest AI image generator market share. This dominance is attributed to the region’s robust tech ecosystem, characterized by renowned AI research institutions, tech giants, and startups. This ecosystem fosters innovation and provides an ideal environment for AI development.
Asia Pacific is recording a substantial expansion. The rapid urbanization in the Asia Pacific region, coupled with the growth of the middle-class population, is generating increased demand for AI-driven solutions, driving the region’s growth.
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Competitive Landscape:
Key Players Strike Partnerships to Enhance Product Portfolio
Companies in the AI image generator sector are actively developing cutting-edge solutions to address customer needs. They are also dedicated to improving their current product range to provide more adaptable solutions with distinctive features. Moreover, these firms are actively pursuing partnerships, acquisitions, and collaborations to bolster their product portfolio.
FAQ’s
How big is the AI Image Generator Market?
AI Image Generator Market size was USD 257,175 thousand in 2022.
How fast is the AI Image Generator Market Growing?
The AI Image Generator Market will exhibit a CAGR of 17.4% during the forecast period, 2023-2030
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