AI Image Generator Market to Be Worth $60.8 Billion by 2030

Research firm MarketsandMarkets projects the artificial intelligence image generator market to grow from $8.7 billion this year to $60.8 billion in 2030, growing at a compound annual rate of 38.2 percent.

AI, it said, can generate realistic images, videos, interactive learning materials, and more based on written descriptions and allows designers to experiment with new styles and materials without having to create physical prototypes. The technology can also add generated audio to the video files it creates.

Companies across diverse sectors are striving to leverage generative Al to enhance their digital media proficiencies, according to MarketsandMarkets, which found increasing demand for customized high-quality visual content, including videos and images.

Image-based applications, it said, are growing in popularity due to quick advancements in deep learning techniques and the growing need for top-notch visual content. AI-based image generators offer the best solutions in sectors such as retail and ecommerce, healthcare, and entertainment. This trend is also driven by the demand for a better customer experience and the integration of AI into various processes.

The retail and e-commerce sectors are witnessing the highest compound annual growth rate in the AI image generator market, the research found. Through personalized content and more efficient marketing strategies, retailers and e-commerce platforms are using Al to improve customer experiences. Generative Al innovations, such as virtual changing rooms, customized ads, and tailored product recommendations, are making shopping more pleasurable. The ability to quickly produce personalized images and videos increases revenue and customer engagement.

The significant AI image and video generator software and service providers include Google, Microsoft, Amazon Web Services, Adobe, NVIDIA, OpenAI, Meta, Anthropic, Databricks, Synthesia, Runway AI, Jasper, Krea AI, Simplified, Lumen5, Lightricks, Hypotenuse AI, Writesonic, Colossyan, D-ID, Midjourney, Descript, Animaker, DeepBrain, Caspa AI, Facet AI , Fliki, Elai, Speechify, Inworld AI, Invideo, HeyGen, Tavus, and Lovo AI.