What Is The Current and Historic Market Size Analysis Of The Computational Creativity Market?
The computational creativity market has seen considerable growth due to a variety of factors.
• In recent times, there has been significant expansion in the size of the computational creativity market. Anticipated to increase from a $1.03 billion valuation in 2024 to $1.29 billion in 2025, it boasts a robust compound annual growth rate (CAGR) of 25.2%.
Factors contributing to this surge during the historic period include the escalating complexity of medical coding, an increase in healthcare data volume, mounting demand for precision and compliance, the proliferation of big data analytics, and the requirement for rapid billing cycles.
What Are The Predictions for The Computational Creativity Market in the Coming Years?
The computational creativity market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of computational creativity is projected to experience rapid expansion. It is predicted to reach a worth of $3.24 billion by 2029, growing with a Compound Annual Growth Rate (CAGR) of 25.9%.
The surge during the forecasted period is largely due to factors such as the rising integration with electronic health records (ehrs), a growing emphasis on data security, telemedicine expansion, rising healthcare costs, and initiatives towards more patient-centric care. The notable trends during the forecast period include global market expansion, user experience enhancement and customization, and real-time auditing and feedback.
Which Drivers Are Accelerating Growth In The Computational Creativity Market?
The surge in the use of computer-based creative solutions is anticipated to stimulate the expansion of the computational creativity market in the future. These creative solutions, facilitated by computers, encompass groundbreaking technologies and applications that utilize the capabilities of computers, artificial intelligence, and algorithms to facilitate, augment, or create numerous creative operations spanning various fields. They are critical in the realm of computational creativity as they employ algorithms and relevant data to produce innovative and artistic solutions, thereby enlarging the scope of cooperative endeavors between humans and machines in the sphere of creative expression. For example, as per data from The International Business Machines Corporation (IBM), a technology firm based in the USA, in May 2022, 35% of global businesses implemented artificial intelligence (AI) in 2022, marking a 4% increase from 2021. As a result, this rising adoption of computer-based creative solutions is boosting the growth of the computational creativity market.
What Are The Core Segments Of The Global Computational Creativity Market?
The computational creativity market covered in this report is segmented –
1) By Component: Solution, Service
2) By Deployment Mode: Cloud, On-premise
3) By Application: Product Designing, marketing And Web Designing, Photography And Videography, Music Composition, Automated Story Generation, High-End Video Gaming Development, Other Applications
Subsegments:
1) By Solution: Creative Software, Generative Design Tools, AI-Assisted Content Creation Tools, Virtual Reality And Augmented Reality Solutions, Game Development Engines
2) By Service: Consulting Services, Custom Development Services, Training And Workshops, Support And Maintenance Services, Collaboration Platforms For Creative Projects
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How Are Emerging Trends Reshaping The Dynamics Of The Computational Creativity Market?
Major corporations in the computational creativity market are ramping up their efforts to design innovative inference platforms in a bid to secure a strategic advantage in the market. These inference platforms are systems or frameworks that run pre-trained models on fresh, unseen data to generate predictions or classifications. Take for example, NVIDIA, an American software firm, which in March 2023 launched four such platforms. These were engineered to enhance a variety of swiftly evolving generative AI applications. The primary aim of these platforms is to facilitate developers in creating specialized and AI-fueled applications in a speedy manner. These platforms incorporate NVIDIA's comprehensive stack of inference software along with the most recent NVIDIA Ada, NVIDIA Hopper, and NVIDIA Grace Hopper processors. In addition, they feature the NVIDIA L4 Tensor Core GPU and the NVIDIA plate_number_1 GPU. Each of these platforms has been fine-tuned to meet the needs of popular workloads, such as AI video, image generation, large language model deployment, and recommender inference.
Who Are the Key Players In The Computational Creativity Market?
Major companies operating in the computational creativity market report are:
• Google Inc.
• Microsoft Corporation
• Sony Corporation
• Amazon Web Services
• Intel Corporation
• IBM Corporation
• NVIDIA Corporation
• Adobe Inc.
• Autodesk Inc.
• Canva Inc.
• Unity Software Inc.
• OpenAI
• Jukin Media
• Prisma Labs
• EyeEm
• Pelican Imaging Corporation
• Amper Music Inc.
• Refik Anadol Studio
• DeepArt.io
• ScriptBook
• Automated Creative
• A Hundred Years
• Runway ML
• Aiva
• Artomatix
• PaintsChainer
• Lumen5
What Are The Regional Insights Into The Computational Creativity Market?
North America was the largest region in the computational creativity market in 2024. The regions covered in the computational creativity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
