The GenAI market is experiencing a compound annual growth rate (CAGR) of 36.7%, expected to reach $136.7 billion by 2030. And Centific is one of the leaders in this expanding market. Those are two takeaways from a newly published report from research firm MarketsandMarkets, “Generative AI Market - Global Forecast to 2030.” This report is a valuable resource for any business that seeks to understand why the rate of GenAI adoption is accelerating and the role that a frontier AI data foundry platform plays in that growth.

MarketsandMarkets discusses key drivers of GenAI growth

MarketsandMarkets is a global market research and consulting firm specializing in B2B research across a variety of industries. Its GenAI report discusses key trends driving the growth of GenAI technology and the influential companies—including Centific—driving this growth. According to the report, several factors are driving the uptake of GenAI among businesses, such as the increasing demand for multimodal AI systems that produce content across text, images, audio, and video formats.

Deep learning is advancing rapidly

MarketsandMarkets says that progress in deep learning technologies—particularly in models like generative adversarial networks (GANs), transformers, and variational autoencoders (VAEs)—is central to this growth. These models are becoming increasingly capable of producing highly realistic content across different media types, attracting industries that value rich, context-sensitive content generation.

Cloud computing and data availability accelerate the uptake of GenAI

Advances in cloud storage and computing facilitate the training and deployment of complex generative models. Cloud platforms offer scalability and help reduce costs, two factors essential for GenAI's growing accessibility. The pay-as-you-go model democratizes entry for smaller businesses, and secure cloud storage drives adoption among sectors dealing with sensitive data, such as healthcare and finance.

GenAI is growing in key regions

Asia-Pacific (APAC) is expected to be the fastest-growing region for GenAI due to its rapid digital transformation, a supportive regulatory landscape, and abundance of AI talent. Customized language models and applications for diverse linguistic and cultural needs make GenAI particularly relevant across APAC’s emerging markets.

Centific is a leader in the GenAI ecosystem

MarketsandMarkets positions Centific as a leader in the GenAI market. The firm’s report places Centific in the “progressive” category, which includes only those companies that are at the forefront of adopting and implementing GenAI technologies. The “progressive” classification indicates a commitment to applying advanced AI tools to help businesses maintain a competitive edge.