At what pace is the large language model (llm) market growing, and what is its estimated value?
The large language model (LLM) market size has grown exponentially in recent years. It will grow from $3.92 billion in 2024 to $5.03 billion in 2025 at a compound annual growth rate (CAGR) of 28.3%. The growth in the historic period can be attributed to the expansion of natural language processing (NLP) applications, growth in digital content creation, the rise of conversational AI, increased focus on personalization, and demand for intelligent automation.
The large language model (LLM) market size is expected to see exponential growth in the next few years. It will grow to $13.52 billion in 2029 at a compound annual growth rate (CAGR) of 28.0%. The growth in the forecast period can be attributed to the proliferation of artificial intelligence, growth in Internet of Things (IoT) devices, expansion of cloud computing services, demand for cybersecurity solutions, and rise of blockchain technology. Major trends in the forecast period include advancements in artificial intelligence (AI) and machine learning, the surge in demand for low-code and no-code platforms, emphasis on functional programming languages, technological advancement, and strategic collaborations.
Get Your Free Sample of The Global Large Language Model (LLM) Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16105&type=smp
How have varous drivers impacted the growth of the large language model (llm) market?
The growing demand for chatbots and virtual assistants is expected to propel the growth of the large language model (LLM) market going forward. Chatbots and virtual assistants are AI-powered software programs designed to interact with humans, but they have distinct differences in their functionality, purpose, and level of user interaction. Chatbots and virtual assistants are increasingly being adopted due to their ability to streamline processes, enhance user experiences, and drive business growth in the digital world. Large language models (LLMs) have transformed chatbot capabilities, enabling them to comprehend and produce human-like text with remarkable precision through extensive training on vast quantities of unlabeled data. For instance, in May 2024, according to WorldMetrics.org, a US-based platform presenting current world data and trends, businesses used chatbots to save over $8 billion annually in 2022, with the healthcare and banking industries benefiting most from these savings, with the worldwide banking sector expected to save $7.3 billion by 2023 as a result of chatbot adoption. Additionally, chatbots and artificial intelligence (AI) are predicted to handle 95% of customer contacts by 2025. Therefore, the growing demand for chatbots and virtual assistants is expected to propel the growth of the large language model (LLM) market.
What are the primary segments of the large language model (llm) market?
The large language model (LLM) market covered in this report is segmented –
1) By Model Size: Below 100 Billion Parameters, 100 Billion To 500 Billion Parameters, Above 500 Billion Parameters, Other Parameters
2) By Architecture: Autoregressive Language Models, Autoencoding Language Models, Hybrid Language Models, Other Architectures
3) By Deployment: Cloud, On-Premises
4) By Industry: Healthcare, Finance, Retail And E-Commerce, Media And Entertainment, Other Industries
Subsegments:
1) By Below 100 Billion Parameters: Small-Scale LLMs, Domain-Specific LLMs, Lightweight Models For Embedded Systems
2) By 100 Billion To 500 Billion Parameters: Mid-Scale General-Purpose LLMs, Multi-Modal Models (Text, Image), Customizable Enterprise LLMs
3) By Above 500 Billion Parameters: Large-Scale General-Purpose LLMs, Cutting-Edge Models For NLP And AI Research, Highly Complex And Scalable Models For Industry Applications
4) By Other Parameters: Hybrid Models (Combining Different Parameter Scales), Adaptive LLMs, Specialized Or Custom-Developed Models
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/large-language-model-llm-global-market-report
Which firms are leading the large language model (llm) market?
Major companies operating in the large language model (LLM) market are Apple Inc., Google LLC, Microsoft Corporation, Alibaba Group, Meta Platforms Inc., Huawei Technologies Co. Ltd., Tencent Holdings Ltd., Amazon Web Services, Intel Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc., Baidu, Inc., NIIT Ltd., OpenAI, Mozilla Foundation, The Apache Software Foundation, Nokia Bell Labs, JetBrains s.r.o., Linux Foundation, edX Inc., Udacity Inc., Julia Computing Inc., Zig Software Foundation, Haxe Foundation
How will industry trends affect the trajectory of the large language model (llm) market?
Major companies operating in the large language model market are developing innovative solutions, such as open and enterprise-grade LLM, to serve customers with advanced features. The open and enterprise-grade LLM is a large language model optimized for complex enterprise workloads and released under a license for ungated use. For instance, in April 2024, Snowflake, a US-based cloud-based data platform company, launched Snowflake Arctic, a state-of-the-art large language model (LLM) designed to be the most open and enterprise-grade LLM available. The Arctic features a distinctive Mixture-of-Experts (MoE) architecture, providing superior intelligence with exceptional efficiency at scale. Its standout feature is its dedication to openness, as Snowflake is making Arctic’s weights available under an Apache 2.0 license, allowing unrestricted personal, research, and commercial use. Additionally, they are sharing the research details behind its development, establishing a new benchmark for transparency and collaboration in enterprise AI technology.
Which geographic trends are shaping the large language model (llm) market, and which region has the highest market share?
North America was the largest region in the large language model (LLM) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the large language model (LLM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Large Language Model (LLM) Market Report 2025 Offer?
The large language model (llm) market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A large language model (LLM) is an artificial intelligence algorithm that uses deep learning techniques and neural networks with many parameters to process and understand human language or text. They are utilized for a variety of natural language processing (NLP) tasks and applications due to their capacity to produce, comprehend, and modify human language.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16105
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
