Emphasis on Model Size (Below 1 billion Parameters, 1 billion to 10 billion Parameters, 10 billion to 50 billion Parameters, 50 billion to 100 billion Parameters, 100 billion to 200 billion Parameters, 200 billion to 500 billion Parameters, and Above 500 billion Parameters); Application (Customer Service, Content Generation, Sentiment Analysis, Code Generation, Language Translation, and Others); Modality (Text, Code, Image, and Video); Industry Vertical (BFSI, IT/ITeS, Retail and Manufacturing, Media & Entertainment, and Other); and Region/Country
The global Large Language Model market was valued at USD 5.9 billion in 2023 and is expected to grow at a strong CAGR of around 33.8% during the forecast period (2024-2032) owing to the growing demand for AI-driven automation and enhanced customer experiences across industries.
The large language model LLM market is the global industry of Large Language Models being developed, deployed, or used to process and generate natural language text. Currently, pre-trained LLMs like GPT and BERT are applied to several NLP activities, for instance, content creation, customer support, and language translation. The market is growing at a fast pace due to the rising curiosity of AI in numerous fields such as – healthcare, banking & finance, and the electronic business sector. The factors responsible for the growth are the improved algorithms of deep learning, enhanced accessibility of infrastructures of cloud computing, raised investments in AI research, and the necessity of solutions to process the massive amount of data. This expansion is further driven by using advanced communication systems mainly from enterprises in an endeavor to improve customers’ engagement and operations.
This section discusses the key market trends that are influencing the various segments of the global Large Language Model market, as found by our team of research experts.
Customer Service Segment Transforming Industry
The large-scale implementation of AI in chatbots and virtual assistants under the “Customer Service” category is primarily contributing to the growth of the Large Language Model market within the global sector. These LLMs solve questions and concerns from customers, fix problems, and offer immediate help on different media forms. Chemical supplier firms can streamline required activities, enhance response accuracy, minimize costs, and be available 24/7, therefore, achieving higher customer retention and loyalty. Thus, the demand for LLMs specializing in this field will remain high as more organizations grasp the potential of AI in enhancing customer service.
APAC is expected to grow at a significant rate during the forecast period
The Asia-Pacific Large Language Model (LLM) market is growing at an astonishing rate primarily due to the increasing use of artificial intelligence in different industry sectors including e-commerce, finance, healthcare, and education sectors. China, India, and Japan, for example, are earmarking large proportions of their resources for AI research and development, hardware, and software, and as pioneers and partakers in the LLM market. Getting down to the growing trends, specific regional languages, and dialects, LLM has been made available in multilingual models which are helping in the adoption and the government’s encouragement towards AI formulations. The growth of the technology sector in the region, the continuously growing digital economy, the need for automation, and customer engagement in businesses are the drivers for market growth.
The global Large Language Model market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players in the market are NVIDIA Corporation; Alibaba Group Holding Limited; Amazon.com, Inc.; Baidu Research; Google LLC; Meta; Microsoft; OpenAI; Tencent; and YANDEX LLC
The global large language model market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. Global Large Language Model Market Revenue (USD BN), 2022-2032F
7. Market Insights by Model Size
8. Market Insights by Application
9. Market Insights by Modality
10. Market Insights by Industry Vertical
11. Market Insights by Region
12. Value Chain Analysis
13. Competitive Landscape
14. Company Profiled
15. Acronyms & Assumption
16. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Large Language Model market were the three major steps undertaken to create and analyze the adoption of the global Large Language Model in major regions. Exhaustive secondary research was conducted to collect the historical market figures and estimate the current market size. Secondly, to confirm these insights, numerous findings and assumptions were considered. Moreover, exhaustive primary interviews were conducted with industry experts across the value chain of the global Large Language Model market. For the assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. The detailed method is explained below:
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the global Large Language Model market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the global Large Language Model market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as model size, application, modality, industry vertical, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After buying the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the global Large Language Model market. Further, we conducted factor analysis using dependent and independent variables such as model size, application, modality, industry vertical, and global Large Language Model market regions. A thorough analysis of demand and supply-side scenarios was conducted considering top partnerships, mergers and acquisitions, business expansion, and product launches in the global Large Language Model market.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Large Language Model market, and market shares of the segments. All the required percentage shares split and market breakdowns were decided using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to several factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques, i.e., the top-down/bottom-up approach were applied to arrive at the market forecast 2032 for different segments and sub-segments across the major markets globally. The research method adopted to estimate the market size encompasses:
The industry’s market size, in terms of revenue (USD) and the adoption rate of the global Large Language Model market across the major markets domestically
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players in the global Large Language Model market in terms of types offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were combined with secondary findings, hence turning information into actionable insights.
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Large Language Model market. Data was split into several segments and sub-segments after studying various parameters and trends in the global Large Language Model market’s model size, application, modality, industry vertical, and regions.
The current & future market trends of the global Large Language Model market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the market’s overall attractiveness at a regional level, providing a platform for the industrial participant to exploit the untapped market to receive help from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the global Large Language Model market’s current market size and growth potential?
Q2: What are the driving factors for the growth of the global Large Language Model market?
Q3: Which segment has the largest global large language model market share by model size category?
Q4: What are the emerging technologies and trends in the global Large Language Model market?
Q5: Which regions dominate the global Large Language Model market?
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