Global Generative AI Market Forecasted to Reach $136 Billion by 2031
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The global generative artificial intelligence market is projected to reach $136 billion by 2031, with a compound annual growth rate of 33.2%. North America holds the largest market share, followed closely by Europe and the Asia-Pacific region. The market is rapidly expanding in sectors such as healthcare, media, and entertainment. Generative AI applications are extensive, covering areas from art design to healthcare, promising a bright market outlook. The global market's development is driven by innovations in cloud storage and government initiatives, ensuring continued growth of generative AI in the future.
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