India Generative AI Market to be Dominated by Media & Entertainment Segment Through 2029

The increasing demand for AI solutions drives the generative AI market across India.

 

According to TechSci Research report, “India Generative AI Market – By Region, Competition Forecast & Opportunities, 2019–2029,” the India generative AI market is expected to experience significant growth in the upcoming years. Machine learning systems that can produce new media like those produced by humans, such as images, videos, and audio, are referred to as generative AI. The media and entertainment sector has already begun to use generative AI technology for several purposes, such as developing virtual reality experiences, providing viewers with individualized recommendations, and creating more captivating social media content. The ability to create highly interactive and personalized content has the power to transform the entertainment business and open new revenue sources. Healthcare, finance, and manufacturing are some other sectors that are anticipated to gain from generative AI in addition to media and entertainment. For instance, generative AI can be used in the healthcare industry to develop individualized treatment plans based on patient data. Generative AI can be used in finance to analyze enormous amounts of financial data and produce investment suggestions. In general, as more industries adopt this technology, the generative AI market in India is anticipated to experience significant growth over the next few years. Concerns about the potential impact on employment and the need for regulation to ensure that technology is used morally and responsibly are, however, also present.

 

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Based on component, the market is segmented into software, and services. Based on technology, the market is segmented into Generative Adversarial Networks (GANs), transformers, variational auto-encoders, and diffusion networks. Based on end-use, the market is segmented into media & entertainment, BFSI, IT & Telecommunication, healthcare, automotive & transportation, others. Generative Adversarial Networks (GANs) is a type of generative AI technology that has shown significant potential for a wide range of applications, and it is expected to play a significant role in the India generative AI market. GANs work by training two neural networks simultaneously, one generator network that creates new data samples and a discriminator network that evaluates the generated samples to distinguish them from real data. The generator network is then refined through this adversarial process, producing more realistic output over time. GANs have been used for a wide range of applications, including generating realistic images, music, speech, and even 3D models. In the media and entertainment industry, GANs have been used to create photorealistic images and videos, which can be used for virtual reality and other immersive experiences.

Moreover, GANs can be used for data augmentation, where synthetic data can be generated to enhance the training of other AI models. This has been particularly useful in areas where obtaining large amounts of real data is difficult, such as in medical imaging. While GANs are a powerful tool for generative AI, there are also challenges associated with their use, such as the need for large amounts of computing power and data to train the networks. Additionally, there are concerns around the ethical implications of GAN-generated content, particularly in areas such as deepfakes. Overall, GANs are expected to play a significant role in the India generative AI market, particularly in areas such as media and entertainment, but there is still much research to be done to improve their performance and address the associated challenges.

In October 2022, Adobe launched creator-centric artificial intelligence, which is a generative AI-based technology on its Adobe creative tools such as Lightroom, Adobe Express, and Photoshop.

In February 2023, Google launched AI chatbot named Bard. It is based on generative AI. The new chatbot improves the accuracy and speed of natural language processing by integrating with Google’s search engine.

Key market players in the India Generative AI market include:

• Rephrase.ai
• Hushl
• Google India Private Limited
• Microsoft India Private Limited
• Meta Platforms, Inc
• Adobe
• Intel Technology India Pvt. ltd.
• International Business Machines Corp.
• Amazon Web Services, Inc.
• Infosys Limited 

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“The market for generative AI in India is expected to grow significantly over the following years because of the technology's expanding use cases, growing adoption by a variety of industries, and the rising demand for advanced AI solutions. A lack of standardized evaluation metrics for generative AI models, a large amount of high-quality training data, and ethical concerns about the potential abuse of generative AI are some of the market's obstacles. Overall, the market for generative AI presents significant chances for companies and researchers to create novel solutions that can raise efficiency, creativity, and productivity in a variety of fields.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“India Generative AI Market By Component (Software, Services), By Technology (Generative Adversarial Networks (GANs), Transformers, Variational Auto-encoders, Diffusion Networks), By End-Use (Media & Entertainment, BFSI, IT & Telecommunication, Healthcare, Automotive & Transportation, Others) By Region, Competition Forecast and Opportunities, 2019–2029,” has evaluated the future growth potential of India Generative AI Market and provides statistics and information on market structure, size, share, and future growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India Generative AI Market.

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