According to a new report, published by KBV research, The Global Retrieval Augmented Generation Market size is expected to reach $17 billion by 2031, rising at a market growth of 43.4% CAGR during the forecast period.
The Cloud segment generate the highest revenue in the Global Retrieval Augmented Generation Market by Deployment in 2023; thereby, achieving a market value of $12 billion by 2031. The cloud segment is leading the retrieval augmented generation market due to its scalability, flexibility, and cost-effectiveness, enabling businesses to deploy RAG solutions quickly and effectively. Cloud-based RAG models can efficiently handle large data volumes, offering real-time retrieval and generation capabilities without substantial infrastructure.
The Document Retrieval segment is registering a CAGR of 42.2 % during the forecast period. The document retrieval segment leads the market by providing accurate and contextually relevant information from large data repositories. Sectors such as legal, healthcare, and finance rely heavily on these systems for quick access to specific documents and insights, which traditional AI models often struggle to deliver effectively.
The Healthcare segment led the Global Retrieval Augmented Generation Market by End-use in 2023; thereby, achieving a market value of $3.6 billion by 2031. Healthcare professionals require precise and contextually relevant information to make informed decisions about patient care. RAG can efficiently retrieve and generate accurate content from extensive medical databases and literature.
The Content Generation segment is growing at a CAGR of 41.9 % during the forecast period. The content generation segment dominates the market because it can produce high-quality, contextually relevant content using retrieval capabilities. This is especially important for marketing, media, and education industries, where timely and relevant content is vital.
Full Report: https://www.kbvresearch.com/retrieval-augmented-generation-market/
The North America region dominated the Global Retrieval Augmented Generation Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5.9 billion by 2031. The Europe region is anticipated to grow at a CAGR of 42.9% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 44.1% during (2024 - 2031).
By Deployment
By Function
By End-use
By Application
Unique Offerings 
