The deepfake AI market size has experienced exponential growth in recent years, projected to increase from $0.65 billion in 2023 to $0.82 billion in 2024, reflecting a compound annual growth rate (CAGR) of 25.9%. This growth during the historic period is attributed to several factors, including the influence of consumer electronics, the expansion of digital content creation, advancements in virtual reality (VR) and augmented reality (AR), an increasing demand for entertainment and media content, and greater accessibility to data and computing power. Looking ahead, the deepfake AI market size is expected to grow significantly, reaching $2.06 billion by 2028 at a CAGR of 26.0%. The anticipated growth during this forecast period can be linked to the impact on advertising effectiveness, applications in sports analytics, the demand for realistic virtual assistants, the need for synthetic data generation, and its applications in cybersecurity and fraud detection. Key trends expected to shape the market in this period include advancements in computational photography, integration with smart city initiatives, personalized gaming experiences, technological convergence with other AI technologies, and improvements in voice cloning.
Major Driver In The Deepfake AI Market
The rising prevalence of manipulated media has substantially contributed to the expansion of deepfake AI technologies. The increase in manipulated content, which includes digitally altered images and videos, is largely due to advancements in AI and machine learning, alongside the widespread use of social media platforms. A report from NATO's Strategic Communications Centre of Excellence noted that inauthentic activity on Instagram remained at 96% in 2021 and 100% in 2022, while on TikTok, it surged from 85% to 97%. This growth in manipulated content is propelling the expansion of the deepfake AI market as these technologies become increasingly ubiquitous.
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Deepfake AI Market Competitive Landscape
Major companies operating in the deepfake ai market are Google LLC, Microsoft Corporation, Amazon Web Services Inc, Intel Corporation, Kairos Technologies, Veritone Inc, Cogito Tech, MyHeritage, Pindrop Security, iProov, D-ID, Gradiant, Paravision, Validsoft, Truepic, HyperVerge, BioID GmbH, DuckDuckGoose AI, Idenfy, Deepware Scanner, Sensity AI, Quantum Integrity
Key Deepfake AI Market Trend
Major companies in the deepfake AI market are focusing on developing advanced solutions such as real-time analysis to gain a competitive advantage. Real-time analysis involves examining data and providing insights or responses almost instantaneously as the data is generated or received. For example, in March 2024, BioID GmbH, a Germany-based face detection company offering proprietary liveness detection and facial recognition, launched a new version of its deepfake detection software to secure biometric authentication and digital identity verification against manipulated images and videos. The software prevents identity spoofing by detecting deepfakes and content generated or altered by AI, providing real-time analysis and feedback for both photos and videos.
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Global Deepfake AI Market Segmentation
The deepfake ai market covered in this report is segmented –
1) By Type: Voice Deepfake, Image Deepfake, Video Deepfake
2) By Offering: Software, Service
3) By Technology: Generative Adversarial Networks (GANs), Auto Encoders, Recurrent Neural Networks (RNNs), Transformative Models, Natural Language Processing (NLP), Other Technologies
4) By End User: Banking, Financial Services And Insurance (BFSI), Telecommunications, Government, Healthcare, Legal, Media And Entertainment, Retail And Ecommerce, Other End Users
By Geography:The regions covered in the deepfake ai market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the deepfake AI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Deepfake AI Global Market Report 2024 furnishes information about the global deepfake ai market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
