What Is The Current and Historic Market Size Analysis Of The Generative AI In Media And Entertainment Market?
The generative ai in media and entertainment market has seen considerable growth due to a variety of factors.
• The market size of generative AI in the media and entertainment sector has been increasing rapidly in the past few years. The market is projected to expand from $1.97 billion in 2024 to $2.53 billion in 2025, reflecting a 28.1% compound annual growth rate (CAGR). The historical growth has been driven by factors such as enhanced computing capabilities, creative innovations, the availability and quality of data, tailored content, and the influence of big data.
What are the Market Size and Expected Growth Rates for the Generative AI In Media And Entertainment Market?
The generative ai in media and entertainment market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of generative AI in the media and entertainment sector is forecasted to witness a remarkable growth in the forthcoming years. A value of $6.73 billion in 2029 at a compound annual growth rate (CAGR) of 27.8% is expected to be reached. This anticipated growth during the forecast period can be credited to the amalgamation with inventive tools, the integration of AI within creative procedures, ethical and regulatory considerations, cost effectiveness and scalability, as well as the rise of AI-based content discovery. Key trends expected to shape the forecast period include improvements in deep learning algorithms, opportunities for monetization, real-time content creation, and the generation of hyper-realistic content.
Which Key Drivers Are Propelling The Generative AI In Media And Entertainment Market's Growth?
The rise in video game usage is anticipated to fuel the growth of the generative AI media and entertainment market. Video games are interactive computer games where players use an interface or input device to receive visual feedback on a screen. The appeal of video games is due to their easy access, varied content, social interactivity, cultural influence, and continual innovation within the sector. There is a growing use of generative AI in different elements of video game development to improve creativity, productivity, and user engagement and offer more engaging and customised gaming experiences. As an example, in August 2024, GamesIndustry.biz, a renowned UK-based periodical for global video game industry news, reported that approximately 75% of European gamers are adults averaging 31.4 years. In 2022, the workforce in the European video game sector grew by 6.7%, adding up to nearly 115,000 employees, and industry earnings also rose by 5%, hitting €25.7 billion (USD 28.7 billion). As a result, the growing use of video games is fuelling the expansion of the generative AI media and entertainment market.
What Are The Key Segments Within The Global Generative AI In Media And Entertainment Market?
The generative AI in media and entertainment market covered in this report is segmented –
1) By Type: Text-To-Image Generation, Image-to-Image Generation, Music Generation, Video Generation, 3 Dimensional Modeling And Animation
2) By Offerings: Solution, Services
3) By Deployment Mode: Cloud-Based, On-Premise
4) By Application: Gaming, Film And Television, Advertising And marketing, Music And Sound Production, Virtual Reality (VR) And Augmented Reality (AR), Other Applications
Subsegments:
1) By Text-To-Image Generation: AI-Powered Image Creation From Text Descriptions, Art And Design Generation, Photorealistic And Stylized Image Generation
2) By Image-To-Image Generation:Image Enhancement And Editing, Style Transfer And Customization, Image Restoration And Transformation
3) By Music Generation: AI-Composed Music For Films, Games, And Commercials, Music Arrangement And Composition Tools, Soundtrack And Audio Effects Generation
4) By Video Generation: AI-Driven Video Synthesis And Editing, Automated Video Content Creation, AI For Animation And Motion Graphics
5) By 3 Dimensional Modeling And Animation: AI-Based 3D Object Creation, 3D Animation Tools, AI-Enhanced Character Modeling And Movement
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What Trends Are Shaping The Generative AI In Media And Entertainment Market?
Leading businesses in the generative AI media and entertainment sector are focusing on the creation of cutting-edge AI innovations such as media copilot, to maintain a competitive edge and fulfill the changing needs of the market. Media Copilot is an advanced AI-enabled tool that aids users in evaluating content effectiveness across different dissemination platforms and revenue structures within the media and entertainment realms. To illustrate, Symphony Innovation LLC, an American software enterprise, unveiled the AI-powered Media Copilot in April 2024. This tool is both prescriptive and generative, utilising both types of AI to help users in assessing content performance across varied distribution channels and revenue schemes. Furthermore, it also incorporates SymphonyAI Media Copilot and revenue model enhancement.
Who Are the Key Players In The Generative AI In Media And Entertainment Market?
Major companies operating in the generative AI in media and entertainment market report are:
• Amazon Inc.
• Alphabet Inc.
• Samsung Electronics Co. Ltd.
• Microsoft Corporation
• Meta Platforms Inc.
• Tencent Holdings Ltd.
• Tesla Inc.
• Intel Corporation
• International Business Machines Corporation
• Oracle Corporation
• Uber Technologies Inc.
• Netflix Inc.
• PayPal Holdings Inc.
• NVIDIA Corporation
• Salesforce Inc.
• Baidu Inc.
• Adobe Inc.
• Snap Inc.
• X Corp
• Zoom Video Communications Inc
• Sentient Technologies LLC
• Gong Inc.
• DeepMind Technologies Limited
• Cohere Inc.
• OpenAI Inc.
What Are The Regional Insights Into The Generative AI In Media And Entertainment Market?
North America was the largest region in the generative AI in media and entertainment market in 2024. The regions covered in the generative AI in media and entertainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
