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Generative AI Market to grow by USD 97.75 Billion (2024-2028), driven by demand for AI-generated content, with a report on AI’s market impact – Technavio

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NEW YORK, Dec. 4, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global generative artificial intelligence (AI) market size is estimated to grow by USD 97.75 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 50.22% during the forecast period. Increasing demand for AI-generated content is driving market growth, with a trend towards acceleration in deployment of large language models (LLM). However, lack of quality data poses a challenge. Key market players include Accenture Plc, Adobe Inc., Alphabet Inc., Altair Engineering Inc., Amazon.com Inc., Autodesk Inc., DataRobot Inc., De Identification Ltd., Diabatix NV, Genie AI Ltd., Hexagon AB, International Business Machines Corp., LeewayHertz, Microsoft Corp., MOSTLY AI Solutions MP GmbH, nTopology Inc., NVIDIA Corp., OpenAI L.L.C., Rephrase Technologies Pvt. Ltd., and Synthesia Ltd..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2017 – 2021

Segment Covered

Component (Software and Services), Technology (Transformers, Generative adversarial networks (GANs), Variational autoencoder (VAE), and Diffusion networks), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

North America, APAC, Europe, South America, and Middle East and Africa

Key companies profiled

Accenture Plc, Adobe Inc., Alphabet Inc., Altair Engineering Inc., Amazon.com Inc., Autodesk Inc., DataRobot Inc., De Identification Ltd., Diabatix NV, Genie AI Ltd., Hexagon AB, International Business Machines Corp., LeewayHertz, Microsoft Corp., MOSTLY AI Solutions MP GmbH, nTopology Inc., NVIDIA Corp., OpenAI L.L.C., Rephrase Technologies Pvt. Ltd., and Synthesia Ltd.

 

Key Market Trends Fueling Growth

The Generative Artificial Intelligence (AI) market is experiencing significant growth as businesses adopt AI technologies to drive solutions in various industries. Natural Language Processing (NLP) and Computer Vision are leading trends, with Generative AI gaining popularity through advancements like Generative Adversarial Networks (GANs), Transformer models, and Multimodal data processing. AI is revolutionizing Entertainment with text and image generation, summarization, and personalized content. In Healthcare, AI is transforming document generation, model architectures, and unsupervised learning techniques for text and image analysis. Entertainment, Finance, and Education industries are leveraging AI-driven solutions for content creation and customer support through conversational interfaces, intelligent virtual assistants, and conversational chatbots. Advanced algorithms like deep learning, probabilistic modeling, and iterative training techniques are powering AI applications in Robotics and Automation, Augmented Reality, and Virtual Reality. However, challenges such as model drift, inaccurate content, biased content, and inappropriate content require continuous monitoring and mitigation strategies. Data security concerns, particularly with unstructured data and personally identifiable information, necessitate tagging, encryption, and access control measures. AI ethics, machine learning techniques, and computer resources are essential considerations for businesses adopting AI. AI tools and conversational interfaces are enabling IT professionals to create virtual worlds, simulations, and game environments for various applications. In conclusion, the Generative AI market offers immense potential for businesses to innovate and create value across industries. However, it’s crucial to address challenges and ethical considerations to ensure the responsible and effective implementation of AI technologies. 

The generative AI market has experienced notable growth with the implementation of Language Model Machines (LLMs). These models employ deep learning methods to generate text that resembles human speech. Businesses can utilize these models to automate and enhance tasks such as customer service, content creation, and data analysis. For instance, Open AI’s GPT-3 language model has gained widespread recognition. It produces human-like text, making it an effective tool for companies to automate content generation, including product descriptions, news articles, and social media posts. 

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Market Challenges

The Generative Artificial Intelligence (AI) market is experiencing significant growth as businesses seek to leverage AI technologies for various applications. Natural Language Processing (NLP) and Computer Vision are two key areas where Generative AI, including Generative Adversarial Networks (GANs), Transformer models, and Variational Autoencoders, are making a mark. These AI-driven solutions offer text generation capabilities, summarization, personalized content, document generation, and model architectures for text, images, video, audio, and more. Entertainment and healthcare industries are major adopters, with Generative AI used for content creation, media and entertainment, and AI-driven simulations. Advanced algorithms like deep learning, neural networks, and probabilistic modeling are at the core of these applications. However, challenges persist, including model drift, inaccurate or biased content, and inappropriate content. Synthetic data management and AI ethics are crucial to address these issues. AI accelerators, computing vouchers, and IT professionals are essential to overcome the computational demands of Generative AI. Data security concerns, especially with unstructured data and personally identifiable information, require tagging and encryption methods. The future of Generative AI lies in its ability to create human-like text, power intelligent infrastructure, and provide personalized support through conversational AI and chatbots.Generative artificial intelligence (AI) can produce data for various applications, such as news articles or product descriptions. However, the quality of the generated data can be inconsistent and may not meet expectations. Inaccurate or incomplete information can be disseminated to the public through AI-generated news articles, potentially misleading readers and damaging the credibility of the news outlet. Similarly, poor-quality data used to generate product descriptions on e-commerce websites could deter potential customers from making a purchase due to misleading or confusing information. It is essential to ensure the data used to train generative AI models is of high quality to produce accurate and reliable results.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This generative artificial intelligence (ai) market report extensively covers market segmentation by

Component 1.1 Software1.2 ServicesTechnology 2.1 Transformers2.2 Generative adversarial networks (GANs)2.3 Variational autoencoder (VAE)2.4 Diffusion networksGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Software- The generative artificial intelligence (AI) market is experiencing significant growth due to the increasing demand for software that can analyze data and produce unique outputs. One notable example is GPT-4, a deep learning-based text generator capable of creating text indistinguishable from human-written content. Businesses are utilizing this technology for content creation and customer service automation. Another application is StyleGAN, a machine learning software generating realistic human faces, benefiting the fashion and beauty industry. Several startups, like Runway, develop generative AI platforms for designers and artists. These advancements are expected to boost the market’s expansion during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2017 – 2021) 

Research Analysis

The Generative Artificial Intelligence (AI) market is experiencing exponential growth due to the increasing adoption of AI technologies in various industries. Natural Language Processing (NLP) and Computer Vision are two major areas of AI that are revolutionizing how we interact with text and images. Generative AI, a subset of advanced algorithms, is leading the charge with its ability to create new content, from text to art and even music. Generative Adversarial Networks (GANs) are a popular generative AI technique that uses two neural networks to generate realistic data. Digitization and AI-driven solutions are transforming industries such as Entertainment and Healthcare, with generative AI powering personalized content and predictive analytics. Standard AI systems use machine learning, simulations, and videos to learn patterns and make decisions. Neural networks, deep learning, probabilistic modeling, and iterative training techniques are essential components of these systems. Recurrent neural networks and convolutional neural networks are advanced algorithms that enable AI to understand context and recognize patterns in data. GPT series and other generative models are creating new possibilities in text generation, while AI applications in virtual worlds and the metaverse are pushing the boundaries of creativity and innovation. IT professionals are in high demand as businesses seek to leverage these advanced technologies to gain a competitive edge.

Market Research Overview

The Generative Artificial Intelligence (AI) market is experiencing exponential growth, driven by advancements in AI technologies such as Natural Language Processing (NLP), Computer Vision, and Generative Adversarial Networks (GANs). These technologies enable AI-driven solutions to create and process multimodal data, including text, images, video, audio, and more. Generative AI is revolutionizing industries like Entertainment, Healthcare, and Robotics and Automation, with applications ranging from text generation and summarization to personalized content and document generation. Model architectures like Transformer models, Neuro-symbolic approaches, and Unsupervised learning techniques are pushing the boundaries of what AI can do. However, challenges such as model drift, inaccurate content, biased content, and inappropriate content require ongoing attention. AI accelerators, large language models, and training data preparation are essential components of the generative AI ecosystem. The market also includes various AI applications, standard and advanced algorithms, machine learning techniques, and neural networks like Recurrent Neural Networks (RNNs) and Convolutional Neural Networks (CNNs). The Entertainment industry, Finance industry, Education industry, and others are leveraging generative AI for content creation, simulations, and conversational interfaces. Virtual Reality (VR) and Augmented Reality (AR) are also significant areas of application, with potential use cases in VR games, VR training simulations, and game environments. AI ethics and data security concerns are critical considerations as the market continues to evolve.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSoftwareServicesTechnologyTransformersGenerative Adversarial Networks (GANs)Variational Autoencoder (VAE)Diffusion NetworksGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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NAVER D2SF Invests in On-Device AI Startup TraceWeave

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October 21, 2026

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TraceWeave develops its own post-Transformer AI architecture that enables AI agents to run on memory-constrained devicesCompletes paid pilot in mobility; pursues commercialization across robots, drones, smart glasses, and moreNAVER D2SF continues to invest in on-device AI and next-generation device technologies

SEOUL, South Korea, Oct. 20, 2026 /PRNewswire/ — NAVER D2SF has made a new investment in TraceWeave, an on-device AI startup led by co-founder and CEO Jaeyoung Park. TraceWeave is the team behind Phase-TITAN, a post-Transformer architecture that understands long contexts and carries out multi-step tasks while keeping memory usage constant. NAVER D2SF recognized the company’s core technology for enabling AI agents on resource-constrained devices.

As AI expands to robots, vehicles, smart glasses, and drones, its applications are advancing beyond simple chatbots toward complex reasoning and decision-making. In Transformer-based models, the key-value cache (KV-Cache) grows with context length, requiring more memory. On-device constraints in memory, battery life, and heat have made it difficult to implement AI agents that understand long contexts and perform complex tasks.

TraceWeave’s Phase-TITAN is a new AI architecture designed to resolve this memory bottleneck by replacing the conventional Transformer architecture altogether. TraceWeave develops its own AI models rather than relying on existing open-source models. Memory usage remains constant as context grows. According to TraceWeave, at a 1M-token context without quantization, a comparable Transformer’s KV-Cache holds tens of gigabytes or more, while its 1B Phase-TITAN model holds 0.04 GB. This enables agents to call tools, interpret results, and decide on their next actions entirely on the device, without cloud calls. TraceWeave’s internal benchmarks on RULER and BFCL indicate that Phase-TITAN maintains performance on par with Transformer models of the same size and larger.

TraceWeave has demonstrated a multi-step agent running on a smartphone using only its CPU, without cloud calls. In mobility, it completed a paid pilot with the autonomous driving affiliate of a global automotive group, identifying driving-data frames that improve the partner’s autonomous driving model without human annotation. It is also validating in-vehicle agent performance with a global automotive electronics software company and exploring opportunities in robots, drones, smart glasses, and wearables. TraceWeave was a Top 20 finalist in NVIDIA’s 2026 Inception Grand Challenge.

TraceWeave was co-founded in October 2025 by researchers with backgrounds at ETH Zurich, Google, and KAIST. The team combines engineering expertise grounded in computational neuroscience and physics with business development capabilities, designing its own architecture and validating it in device environments that reflect real-world customer needs. In this seed round led by Mirae Asset Capital, TraceWeave raised approximately KRW 3 billion at a pre-money valuation of approximately KRW 30 billion. Based at NAVER D2SF @Gangnam, the company plans to use the funding to expand its research and engineering team for next-generation architecture development and grow its business.

“Taking the KV cache out was never the hard part. Staying capable without it was,” said Jaeyoung Park, co-founder and CEO of TraceWeave. “The best part is no part. Phase-TITAN already delivers Transformer-class capability without the Transformer’s memory tax, and the next one goes well beyond its class, with the memory still fixed.”

“On-device AI is a core technology for implementing complex, advanced AI across diverse device environments beyond PCs, and it also offers advantages in reducing cloud call costs and protecting privacy,” said Sanghwan Yang, Head of NAVER D2SF. “TraceWeave is a team that is innovating AI architecture to overcome the limitations of existing AI models and bring AI to on-device environments.”

View original content:https://www.prnewswire.com/news-releases/naver-d2sf-invests-in-on-device-ai-startup-traceweave-302913752.html

SOURCE NAVER D2SF

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Gear Up for Year-End Wellness: iHerb Spotlights 4 Everyday Health Essentials and Kicks Off 11.11 Early Access Sale with Up to 40% Off Sitewide

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October 21, 2026

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HONG KONG, Oct. 21, 2026 /PRNewswire/ — As October gets underway, many individuals are proactively preparing their daily health and self-care routines ahead of the busy year-end season. Global health and wellness e-commerce platform iHerb has curated a premier lineup of four top-selling daily nutritional supplements from its flagship house brand, California Gold Nutrition, and consumer-favorite brand, Doctor’s Best. Encompassing marine collagen, Omega-3 fatty acids, CoQ10, and chelated magnesium, this selection addresses distinct nutritional priorities, providing consumers with comprehensive, high-quality choices for daily maintenance and holistic vitality.

The iHerb Singles’ Day Early Access campaign officially launches today and runs through October 28. During the promotional period, shoppers can apply promo code “HD11BUY” at checkout to receive up to 40% off sitewide. Additionally, new customers worldwide can use promo code “WELCOME7” to enjoy 30% off their first purchase—offering consumers the ideal opportunity to proactively map out their year-end wellness and nutrition regimens.

Daily Wellness from Within: Collagen and Omega-3 as Nutritional Building Blocks

Founded in the United States and powered by 30 years of global health curation, iHerb offers an extensive catalogue spanning vitamins, dietary supplements, beauty, sports nutrition, and everyday lifestyle essentials. The platform empowers consumers to explore premier wellness goods from around the world all in one convenient place.

Among the featured highlights is California Gold Nutrition’s Hydrolyzed Marine Collagen Peptides + Hyaluronic Acid and Vitamin C. This synergistic formula pairs bioavailable hydrolyzed marine collagen peptides with hyaluronic acid and antioxidant vitamin C. Formulated as an unflavored, easily dissolvable powder, it blends effortlessly into morning coffee, smoothies, or water according to usage guidelines, offering a hassle-free addition to daily beauty and mobility regimens.

For essential fatty acid support, California Gold Nutrition’s Omega-3 Premium Fish Oil provides concentrated Omega-3 fatty acids, specifically EPA and DHA. Delivered in fish gelatin softgels, it offers an accessible, high-purity option for consumers seeking to incorporate vital fatty acids into their daily dietary routine to maintain overall cardiovascular, cognitive, and cellular wellness.

Targeted Cellular Vitality and Essential Minerals: Advanced Science from Doctor’s Best

Complementing collagen and fish oil, trusted wellness brand Doctor’s Best delivers science-backed formulations for more specialized nutritional support. The brand’s High Absorption CoQ10 utilizes naturally fermented Coenzyme Q10 paired with patented BioPerine® black pepper extract to enhance nutrient absorption and bioavailability. It provides an exceptional daily option for adults focused on supporting cardiovascular function, cellular energy generation, and antioxidant defenses.

Another standout favorite is Doctor’s Best High Absorption Magnesium Lysinate Glycinate, which features Albion® TRAACS® chelated magnesium in convenient tablet form. This fully chelated delivery ensures high bioavailability and superior digestive tolerance, allowing consumers to easily select the right daily supplement tailored to their dietary habits, physical activity, and relaxation needs.

Special Promotion: 11.11 Early Access

Sitewide Early Bird Offer: Use promo code HD11BUY to take up to 40% off sitewide.

New Customer Welcome: First-time shoppers globally can apply promo code WELCOME7 for 30% off their order.Promotion Window: Active immediately through October 28, 2026.Details & WhatsApp: Subject to terms and product eligibility on the official iHerb website. Subscribe to the official iHerb Hong Kong WhatsApp channel for real-time campaign updates.

About iHerb (https://hk.iherb.com/）

iHerb is a world-leading e-commerce destination dedicated to health, wellness, and self-care. Founded in California in 1996, iHerb now serves millions of customers across more than 180 countries. With a selection of over 40,000 authentic, high-quality products across vitamins, supplements, sports nutrition, personal care, and grocery items, iHerb delivers value and convenience directly to doorsteps worldwide, supported by state-of-the-art GMP-registered, climate-controlled distribution centers.

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EPG Showcases Full-Stack AIDC Capabilities and Global Delivery Network at DCWA 2026 in Singapore

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October 21, 2026

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SINGAPORE, Oct. 21, 2026 /PRNewswire/ — EPG, a global provider for prefabricated modular data center infrastructure, showcased its latest AI data center solutions at Data Centre World Asia (DCWA) 2026, held in Singapore on September 29–30. Demonstrating its commitment to Asia-Pacific and the markets beyond, EPG presented its AI Core prefabricated modular data center solution and Edge POD prefabricated edge data center solution, alongside the global launch of AeroLev 1850, an air-cooled, magnetic-bearing chiller platform jointly introduced with MagPro. Together, these offerings demonstrate EPG’s end-to-end capabilities across modular infrastructure and high-efficiency cooling for AI data centers (AIDCs).

At the opening address for the Critical Infrastructure Theatre, EPG Chief Operating Officer Johnny Zhang highlighted the growing demands AI is placing on data center infrastructure, from higher power density and faster deployment to more efficient cooling. As AI continues to evolve, infrastructure must keep pace to support the next generation of AI computing.

Building on these themes, Johnny Zhang moderated a panel discussion on the future of data centers, resilience and digital infrastructure, bringing together industry experts from data center design, cloud and AI infrastructure, and cooling technology to explore emerging requirements for energy efficiency, high-density cooling and scalability. EPG Chief Technology Officer Enso Li also presented AI Core at the Energy Security & Efficiency Theatre, demonstrating how standardized modules and factory prefabrication can accelerate data center deployment.

Alongside these industry discussions, EPG continued to strengthen its global partnerships. The company signed cooperation agreements with international industry partners across AI data center planning, construction and delivery. These collaborations will support the development of next-generation data center infrastructure, broaden EPG’s ecosystem across the Asia-Pacific and expand its presence in global markets.

Complementing these industry engagements, EPG showcased its AI Core and Edge POD solutions across its exhibition space, welcoming visitors to explore its modular infrastructure offerings. AI Core takes a prefabricated, modular approach to AI infrastructure, integrating standardized power, cooling and other critical infrastructure modules to simplify deployment and enable flexible expansion as compute requirements grow. Built on this modular approach, EPG’s E Series offers configurable solutions tailored to different project requirements. One of its offerings, Edge POD, is an all-in-one solution for distributed computing environments where power availability and deployment speed are critical. Designed for 1–10 MW applications, Edge POD supports rapid deployment, low-latency computing and distributed redundancy.

EPG’s joint venture, MagPro, also introduced its new magnetic levitation chiller platform, AeroLev 1850. The 1.85 MW-class, air-cooled, magnetic-bearing chiller platform is designed for next-generation AI data centers in water-scarce, high-ambient environments, with chilled-water outlet temperatures of up to 45°C. Its cooling-tower-free architecture combines oil-free magnetic-levitation technology with intelligent controls to deliver efficient, reliable cooling while reducing water consumption.

The launch of AeroLev 1850 marks a strategic milestone in EPG’s global cooling technology roadmap. Established in May 2026, MagPro brings together EPG’s data center engineering and global delivery expertise with CIGU’s magnetic-levitation technology and R&D capabilities. The partnership expands EPG’s portfolio into advanced cooling to address the demands of high-density AI computing while reducing reliance on water-intensive cooling systems.

“AI computing is reshaping the infrastructure requirements of data centers,” said Alick Wan, Founder and Chairman of EPG. “Our focus extends beyond individual technological breakthroughs. By combining modular and standardized solutions with global delivery capabilities, we aim to help customers deploy and scale computing infrastructure efficiently across markets. We will continue working with global partners to build more efficient and resilient infrastructure for the next generation of digital growth.”

Looking ahead, EPG will continue to evolve its solutions and strengthen its capabilities to meet the changing demands of the data center industry.

Learn more: https://www.epg-module.com/

CONTACT: communications@epg-module.com

About EPG

EPG is a prefabricated modular data center infrastructure provider, powered by R&D centers in Singapore, Malaysia, and Shanghai, as well as six advanced manufacturing hubs in Malaysia and China. With over 20 years of engineering expertise, it has a workforce of more than 1,600 employees, including nearly 300 researchers and experienced engineers in its R&D and technical team. Through continuous technological innovation and a scalable delivery system, EPG delivers  integrated and efficient data center solutions for hyperscale, cloud, and enterprise deployments across APAC, EMEA, and other global markets.

About MagPro (Nanjing CIPU Technology Co., Ltd.)

MagPro is a joint venture between CIGU Technology Corp. Ltd. and EPG Data Technology (Shanghai) Co., Ltd., specializing in the research, development, and production of reliable, energy-efficient cooling and air-conditioning systems for AI data centers, cloud, and hyperscales. MagPro operates a more than 6,000-square-meter production base and two air-cooled laboratories, supporting testing of air-cooled units up to 2,000 kW.

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SOURCE EPG Global Technology (Shanghai) Co., Ltd.

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