North America Generative AI Market | Analysis 2019-2032

NORTH AMERICA GENERATIVE AI MARKET SNAPSHOT

• In 2024, the projected revenue of generative AI market in North America is estimated to reach a staggering US$ 42.53 billion.
• Among the various segments, the hardware segment is expected to dominate with a projected market value of US$ 28.18 billion in the same year.
• Regionally, it's noteworthy that generative AI market, in the United States is expected to lead in terms of revenue generation, with an estimated amount of US$ 36.41 billion in 2024.
• Among the diverse end users, IT and Telecom, was the largest end-user vertical in terms spending in the North American generative AI industry in 2023.

NORTH AMERICA GENERATIVE AI OUTLOOK

Our North America generative AI market insights book explore into the latest trends and insights among CIOs and experts across sectors, emphasizing the critical need for adaptable, scalable, and efficient data infrastructure to drive forward the generative AI era. A 2023 survey unveiled modest ambitions among CIOs, with only 18% aiming for "enterprise-wide" AI implementation by 2025, despite 90% of organizations utilizing AI. However, the emergence of generative AI tools marks a transformative shift, democratizing AI across enterprises and impacting various facets from internal operations to customer interactions. CIOs and technical leaders are now tasked with embracing generative AI while navigating strategic decisions regarding data infrastructure, model ownership, workforce structure, and AI governance.

DataCube Research's study on the North America generative AI market size and forecast provides organizations with comprehensive insights into market dynamics, end-user preferences, and future actions. Survey data reveals that 40% of respondents utilize AI-driven applications or open models via API from vendors other than OpenAI, while 30% use or plan to use ChatGPT or their proprietary models. Moreover, many respondents underestimate the costs associated with AI implementation, emphasizing the importance of comprehensive training programs, leveraging AI platforms or APIs for cost-effective solutions, and closely monitoring total cost of ownership (TCO).

NORTH AMERICA GENERATIVE AI MARKET TRENDS AND DEVELOPMENTS

Talking about country level developments, in the United States, regulatory efforts are underway to establish guidelines governing generative AI use, reflecting a proactive approach to address industry opportunities and challenges. In June 2023, the U.S. Commerce Department introduced a public working group on GanAI, led by the National Institute of Standards and Technology (NIST), to harness technical expertise from private and public sectors to explore opportunities and address risks associated with GanAI. Also, the North America Generative AI market report reveals barriers to AI adoption, including a lack of understanding of functionalities and uncertainty about integration into existing processes. Contrary to previous assumptions, widespread adoption and sophistication of GenAI are evident across various business sizes, offering manifold benefits in enhancing consumer experiences through personalized recommendations and optimizing operational efficiency, particularly in e-commerce. GenAI for text leads adoption trends, with applications spanning content generation, summarization, translations, and customization of email communications and social media content to align with customer preferences.

This research report on North America generative AI market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.

NORTH AMERICA GENERATIVE AI MARKET COVERAGE