What Is The Scope Of The Global Generative AI In Media Market?
Generative AI in media refers to the use of artificial intelligence (AI) technologies to create or generate media content autonomously. This includes the generation of various forms of media, such as images, videos, text, and audio, often with a focus on creativity, personalization, and automation. Generative AI algorithms can analyze existing media content, understand patterns and styles, and then produce new content that mimics or extends upon these patterns.
Generative AI In Media Global Market Report 2024 provides data on the global generative ai in media market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Generative AI In Media market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Forecasted Market Size And Growth Rates For Global Generative AI In Media?
The generative AI in media market has undergone exponential growth, advancing from $2 billion in 2023 to $2.6 billion in 2024, achieving a compound annual growth rate (CAGR) of 30%. This expansion in the historic period is driven by real-time content generation capabilities, streamlined workflows enhancing operational efficiency, increased computational power supporting complex algorithms, the proliferation of deep learning technologies, high demand from media industries seeking innovative solutions, and collaborative efforts within open-source communities. Looking ahead, the market is poised to grow to $7.48 billion by 2028, maintaining a CAGR of 30.2%. Future growth drivers include enhanced data availability and quality enabling more sophisticated AI applications, the integration of edge computing and on-device AI for faster processing speeds, trends towards user-generated content and co-creation models, advancements in content personalization and recommendation systems, and the adoption of ethical and responsible AI practices. Major trends anticipated in the forecast period include AI-powered content curation platforms, the emergence of hyper-realistic content generation techniques, cross-platform integration for seamless user experiences, and the evolution of AI-generated music and sound design tools.
What Factors Are Driving Growth In The Generative AI In Media Market?
The generative artificial intelligence in media market is poised for growth driven by the increasing acceptance of visual media worldwide. Visual media encompasses various forms of communication that utilize visual elements to convey information or tell stories. Generative AI enhances visual media by generating realistic and visually appealing content such as images and videos. HubSpot reported that over 50% of marketers utilized visuals in more than 91% of their content, with original graphics being the most popular type at 36%, followed closely by stock photos. This growing acceptance of visual media fuels the generative artificial intelligence in media market through 2023, 2024, and 2028, reflecting increasing demand for AI-driven visual content creation.
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What Are The Main Segments Of The Global Generative AI In Media Market?
The generative ai in media market covered in this report is segmented –
1) By Technology: Deep Learning, Natural Language Processing, Computer Vision, Audio Processing, Reinforcement Learning
2) By Deployment Mode: Cloud-Based, On-Premise
3) By Application: Content Creation, Personalized Recommendations, Visual Effects And Animation, Data Analysis And Insights, Gaming And Interactive Experiences, Other Applications
What Emerging Trends Are Influencing The Growth Of The Generative AI In Media Market?
Major companies in the generative AI media market are focusing on developing AI-driven ad creation tools to enhance advertising content and user engagement. These tools use generative AI algorithms to automatically create marketing content, such as images, videos, and copy. For example, in January 2024, Microsoft Corporation, a US-based technology company, introduced Retail Media Creative Studio, a generative AI ad creation tool. This tool simplifies the creation of banner ads, improving engagement and performance. It aligns with retailers' style guides and allows customization of ad elements, targeting retail media's specific needs and transforming business personalization, efficiency, and monetization.
What Is The Largest Region In The Generative AI In Media Market?
North America was the largest region in the generative AI in media market in 2023. The regions covered in the generative AI in media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
