GenAI in Business Market Size Worth USD 1,397.40 Billion by 2034 | CAGR: 35.6%

The global GenAI in business market size is expected to reach USD 1,397.40 billion by 2034, according to a new study by Polaris Market Research. The report “GenAI in Business Market Size, Share, Trends, Industry Analysis Report: By Technology [Natural Language Processing (NLP), Speech Recognition & Synthesis, Predictive Analytics, Generative Adversarial Networks (GANs), and Others], Deployment Mode, Industry Vertical, Application, and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

GenAI in businesses leverages deep learning models such as generative adversarial networks (GANs) and large language models (LLMs) to generate human-like text, images, and code. Companies across various industries, including marketing, healthcare, finance, and retail, are adopting GenAI to streamline operations, reduce costs, and unlock new revenue streams.

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The increasing demand for automation and efficiency is propelling GenAI in business market growth. Organizations are under constant pressure to improve productivity and reduce operational costs, making automation an attractive investment. GenAI automates a wide range of tasks, from content creation and data analysis to customer service and software development, allowing businesses to optimize their resources effectively. Moreover, businesses are investing in GenAI automation to transform back-office functions such as financial reporting, legal documentation, and supply chain management.

The growing need for personalized customer experiences is boosting the GenAI market expansion. Businesses in the market are investing in GenAI-driven personalization to increase customer engagement, boost conversion rates, and foster brand loyalty.

GenAI in Business Market Report Highlights

• In terms of technology, the natural language processing (NLP) segment held the largest GenAI in business market share in 2024 due to its widespread adoption across industries for automating communication, enhancing customer interactions, and processing vast amounts of text-based data.
• Based on industry vertical, the healthcare segment is expected to grow at a robust pace in the coming years, owing to the increasing demand for AI-driven diagnostics, drug discovery, and personalized treatment plans.
• In the global market, North America held the largest GenAI in business market share in 2024 due to its strong technological infrastructure, high adoption of AI-driven solutions, and significant investments from enterprises across various industries.
• The market in Asia Pacific is estimated to grow at a rapid pace during the forecast period, owing to rapid digital transformation, increasing AI investments, and widespread adoption across industries.
• Some of the global key market players are Accenture, Adobe, Amazon, Anthropic, IBM, Microsoft, OpenAI, Orange Business, SAP, and The Growth Company.

Polaris Market Research has segmented the GenAI in business market report on the basis of technology, deployment mode, industry vertical, application, and region:

By Technology Outlook (Revenue, USD Billion, 2020–2034)

• Natural Language Processing (NLP)
• Speech Recognition & Synthesis
• Predictive Analytics
• Generative Adversarial Networks (GANs)
• Others

By Deployment Mode Outlook (Revenue, USD Billion, 2020–2034)

• Cloud-Based
• On-Premises

By Industry Vertical Outlook (Revenue, USD Billion, 2020–2034)

• Healthcare
• Retail & E-commerce
• BFSI
• Manufacturing
• Media & Entertainment
• Education
• Automotive
• Telecommunications
• Others

By Application Outlook (Revenue, USD Billion, 2020–2034)

• Customer Support & Chatbots
• Content Creation & Copywriting
• Data Analytics & Insights
• Personalized Marketing
• Process Automation
• Product Design & Development
• Fraud Detection & Risk Management
• Others

By Regional Outlook (Revenue, USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

GenAI in Business Market Report Scope