Genrative AI in Software Development Market to Boom, $126.34 Billion Revenue Opportunity by 2030 - Arizton

According to Arizton’s latest research report, generative AI in software development market is growing at a CAGR of 16.71% during 2024-2030.   

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Report Scope      

Market Size (2030): $126.34 Billion     

Market Size (2024): $50 Billion     

CAGR (2023-2030): 16.71%      

Historic Year: 2021-2023     

Base Year: 2024 

Forecast Year: 2025-2030     

Market Segmentation: Component, Deployment Mode, Technology, Model, End Users, Enterprise, and Geography 

Geographic Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa 

North American Gen AI Software Development Market Development  

The North American Generative AI (Gen AI) software development market is experiencing significant growth, driven by the increasing demand for intelligent solutions across sectors such as healthcare, media, education, and government. The US leads the market, contributing over 78% of regional revenue, due to rapid advancements in AI models and widespread enterprise adoption. US tech giants like OpenAI, Microsoft, and Google Cloud are fueling innovation in AI-driven solutions. The US is a major player in enterprise workflow automation, personalized marketing, and healthcare AI applications. 

Canada ranks second in the region, focusing on responsible AI development through government-supported frameworks and strong AI research hubs in cities like Toronto and Montreal. Canadian firms are utilizing Gen AI for legal automation, customer service, and language translation. 

Key regional trends include the integration of Gen AI tools with cloud platforms, ongoing regulatory discussions on AI safety, and a surge in Gen AI startups offering niche solutions. The adoption of Gen AI is expanding beyond traditional tech industries into sectors like manufacturing and retail. With robust infrastructure and a mature digital ecosystem, North America continues to lead global Gen AI innovation, setting the pace for market growth. 

Multimodal Generative AI Powering the Next Wave of Growth 

Multimodal AI, which processes and understands multiple types of data, including text, images, audio, and video, is transforming industries by enhancing content creation, audience engagement, and search capabilities. This technology integrates NLP, computer vision, speech recognition, machine learning, and large language models (LLMs) to provide deeper insights, enabling more personalized and efficient user experiences. Closely tied to Generative AI (Gen AI), multimodal capabilities allow tools to generate images, videos, and multimedia content from written prompts, making Gen AI more adaptable and valuable across sectors. 

In marketing, multimodal Gen AI accelerates content generation by creating ad copy, visuals, and video. In healthcare, it analyzes images and patient data simultaneously to assist doctors. The education sector benefits from AI-powered platforms producing interactive lessons with text, video, and audio. Customer support systems have become smarter, capable of understanding both text and images shared by users. These practical applications are driving the adoption of Gen AI software and expanding the market. 

Looking ahead, multimodal Gen AI will enable intelligent virtual assistants that can process voice, text, and visuals simultaneously, boosting creativity and improving decision-making across industries. Emerging trends like multilingual support, AI-generated video, real-time interactions, and ethical AI practices are further shaping this technology. The growth of multimodal Gen AI will continue to revolutionize how we live, work, and communicate, opening up new possibilities for businesses and consumers alike.  

Recent Developments in Generative AI Market 

• February 2024 – Google DeepMind released Gemini 1.5, an advanced multimodal LLM with an extended context window, supporting high-quality reasoning across text, code, and images. 
• January 2024 – Microsoft/OpenAI integrated Copilot Pro across Microsoft 365, enhancing productivity tools such as Word and Excel with real-time generative capabilities. 
• November 2023 – Adobe launched Firefly AI, a suite of generative design tools integrated into Photoshop and Illustrator, empowering designers with text-to-image capabilities. 

Key Drivers Behind Growth of Gen AI Software 

• Automated Content Generation: Gen AI is revolutionizing the way content is created, enabling the automated generation of articles, marketing copy, design elements, videos, and more. This significantly reduces time and labor costs for businesses. 
• Personalization at Scale: With Gen AI, companies can deliver hyper-personalized experiences by dynamically generating content based on user behavior, preferences, and interactions. This is widely used in e-commerce, entertainment platforms, and digital advertising. 
• Code and Software Development Assistance: Tools such as GitHub Copilot leverage Gen AI to help developers write code faster and with few errors by suggesting real-time code completions and documentation.   

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Key Company Profiles 

• Adobe Inc. 
• Amazon Web Services, Inc. 
• OpenAI 
• Anthropic 
• Meta 
• Microsoft 
• NVIDIA 
• IBM 
• Cohere Inc. 
• Mistral AI 
• Hugging Face 
• Salesforce 
• Stability AI 
• Character.AI 
• Baidu 
• Alibaba DAMO Academy 
• D-ID 
• MOSTLY AI Inc 
• Rephrase.ai 
• Synthesia 
• Grammarly 
• Jasper AI 
• Copy.ai 
• SoundHound AI 
• Runway AI, Inc 
• Descript 
• Replit 
• Notion Labs, Inc 
• Perplexity AI 
• Writer.ai  

Market Segmentation  

Component 

• Solution 
• Services 

Deployment Mode 

• Cloud-based 
• On-premises 

Technology 

• Generative Adversarial Networks 
• Transformer-based Gen AI Software 
• Variational Auto-Encoders 
• Diffusion Networks 
• Others 

Model 

• Large Language Models 
• Image & Video Generative Models 
• Multi-modal Generative Models 
• Others 

End Users 

• Enterprise 
• Individual 

Enterprise 

• Media & Entertainment 
• BFSI 
• IT & Telecommunication 
• Healthcare 
• Automotive & Transportation 
• Gaming 
• Others 

Geography 

North America 

• The U.S. 
• Canada 

APAC 

• China 
• Japan 
• India 
• Australia 
• South Korea 
• Singapore 
• Malaysia 

Europe 

• Germany 
• France 
• The U.K. 
• Italy 
• Russia 
• Norway 
• Spain 
• Denmark 
• Poland 

Latin America 

• Brazil 
• Argentina 
• Mexico 
• Middle East & Africa 
• The UAE 
• Saudi Arabia 
• South Africa   

Key Questions Answered in the Report:     

How big is the global gen-AI software development market? 

What is the growth rate of the global gen-AI software development market? 

What are the significant trends in the gen-AI software development market? 

Which region dominates the global gen-AI software development market share? 

Who are the key players in the global gen-AI software development market?     

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