US Generative AI Market | Analysis 2019-2032

United States Generative AI Market Snapshot

• In 2024, the U.S. generative AI market is expected to achieve a market revenue of US$ 36.41 billion.
• This market is projected to register a compound annual growth rate (CAGR) of 29.97% from 2024 to 2032, resulting in a forecasted market value of US$ 296.45 billion by the end of 2032.
• When compared at a segmental level, in the U.S. generative AI market hardware segment is expected to generate the highest revenue in 2024.
• In the US generative AI market, the largest end user sector will be IT and Telecom, with a total market value of US$ 11.46 billion in 2024.

United States Generative AI Market Outlook

The emergence of Generative AI technology has captivated the world, unlocking AI capabilities previously deemed distant. With its impressive ability to generate novel outputs, Generative AI (GAI) is sparking enthusiasm and inspiring discussions on its potential organizational applications. Beyond mere chatbots, Generative AI stands to revolutionize innovation, operational methodologies, and industry landscapes by amplifying existing AI systems, fostering agility, and enhancing customer-centric approaches. By tapping into structured and unstructured enterprise data, GAI facilitates insights alignment with customer demand, enhances operational agility, and transforms the operational methods of enterprises across verticals. Practical implementations of Generative AI span various domains, including personalized customer self-service, interactive Q&A automation, context summarization, and ongoing content development. By merging LLM with Conversational AI, organizations can deliver localized customer support tailored to individual preferences, streamline response times, and cut costs. Additionally, Generative AI streamlines documentation processes, facilitating rapid content generation and deployment in industries like gaming, responding swiftly to community demands and market trends.

The DataCube Research study on US generative AI market size and forecast help organizations to connect all the dimensions of AI ecosystem with cutting-edge insights on market dynamics, end users preferences, and their future course of actions. For instance, based on our recent generative AI survey, 40% of respondents use AI driven application or open models via API provided by vendors other than OpenAI, while 30% of respondents reported they use ChatGPT or planning to use their proprietary models. Additionally, a large group of respondents generally underestimate the costs associated with implementing AI systems, including infrastructure, training, and development. This misalignment between perception and reality highlights a challenge for companies utilizing AI technologies, particularly in understanding the complexities of data handling and the resource-intensive nature of AI deployment. To overcome this problem, companies operating in the US generative AI market are encouraged to invest in comprehensive training programs for their teams, leverage AI platforms or APIs for more cost-effective solutions, and closely monitor total cost of ownership (TCO) to avoid budget surprises.

United States Generative AI Market Trends And Developments

In the United States, regulators are actively working to establish regulations governing the use of generative AI which signifies a proactive approach to addressing opportunities and challenges within the generative AI industry.
 

• In June 2023, The U.S. Commerce Department announced a public working group on generative artificial intelligence (AI) will be launched by a U.S. agency. The National Institute of Standards and Technology (NIST), operating under the Commerce Department, will lead the initiative. This working group aims to leverage technical expertise from both private and public sectors to explore opportunities and address risks associated with generative AI, a technology with capabilities to create text and images, likened to the transformative impact of the internet.

United States Generative AI Competitive Landscape

Major companies operating in the US generative AI market are Adobe, Alphabet (Google), Amazon (AWS), Anthropic, C3.ai, Cohere, Databricks, Glean, Hugging Face, IBM, Inflection AI, Jasper, Meta, Microsoft, MOSTLY AI, NVIDIA, OpenAI, Stability AI, and Synthesia. These companies are leaders in the US Generative AI market, each with distinct strategies. They focus on research and development, product integration, platform offerings, and industry-specific solutions to drive innovation and adoption.

United States Generative AI Industry Coverage