Home > Media & Technology > Next Generation Technologies > AI and Machine Learning > AI Image Generator Market
AI Image Generator Market Size
- Report ID: GMI6355
- Published Date: Jul 2023
- Report Format: PDF
AI Image Generator Market Size
AI Image Generator Market size was valued at USD 213.8 million in 2022 and is projected to grow at a CAGR of 16.5% from 2023 to 2032, driven by the rise of Non-Fungible Tokens (NFTs). The increasing popularity of Non-Fungible Tokens (NFTs) has created a demand for unique digital art and collectibles, driving the use of AI image generators to produce novel and exclusive visual content. For instance, in February 2022, an AI-generated art piece called" The First 5000 Days" was sold for $69.3 million at Christie's auction house. This was a watershed moment for the NFT art market, and it helped legitimate AI-generated art as a legitimate form of artistic expression.
Likewise, in April 2022, the AI art collective Larva Labs launched a new collection of NFTs called "CryptoPunks", which sold out in minutes. The average price of a CryptoPunk was over $100,000. These instances point toward a strong demand for AI-generated art that is both unique and aesthetically appealing, which, in consequence, will create a favorable growth outlook for the AI image generator market.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| AI Image Generator Market Size in 2022: | USD 213.8 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 16.5% |
| 2032 Value Projection: | USD 944 Million |
| Historical Data for: | 2018 - 2022 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 206 |
| Segments covered: | Component, End-User |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
AI image creation tools empower non-designers and individuals without specialized skills to generate visually appealing content, enabling them to participate in creative endeavors. These can produce images at a fraction of the time and cost compared to traditional manual methods, making them an attractive option for businesses looking to optimize their resources. The increasing demand for high-quality visual content across industries, such as advertising, marketing, entertainment, and gaming, has spurred the need for efficient and scalable AI image creation solutions, augmenting market gains.
Quoting an instance, in 2022, the fashion brand Gucci used AI-generated images to create a campaign for its new fragrance, Flora Gorgeous Gardenia. The images were created using DALL-E 2, and they featured a variety of fantastical and surreal scenes inspired by the fragrance's scent. However, users might face constraints in controlling the output of AI image generators, leading to limited customization options and reduced flexibility. Besides, integrating AI image generators into existing workflows and applications can be complex and time-consuming, potentially deterring businesses from adopting these technologies.
Frequently Asked Questions (FAQ) :
AI Image Generator Market Scope
