Market Size –
The generative AI in media market size has grown exponentially in recent years. It will grow from $2 billion in 2023 to $2.6 billion in 2024 at a compound annual growth rate (CAGR) of 30% The growth in the historic period can be attributed to real-time content generation, streamlined workflows, increased computational power, rise of deep learning, industry demand, and open-source communities.
The generative AI in media market size is expected to see exponential growth in the next few years. It will grow to $7.48 billion in 2028 at a compound annual growth rate (CAGR) of 30.2%. The growth in the forecast period can be attributed to data availability and quality, edge computing and on-device AI, user-generated content and Co-creation, content personalization and recommendation, and ethical and responsible AI practices. Major trends in the forecast period include AI-powered content curation, hyper-realistic content generation, cross-platform integration, and AI-generated music and sound design.
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Scope Of Generative AI In Media Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Generative AI In Media Market Overview
Market Drivers –
The growing acceptance of visual media is expected to propel the growth of the generative artificial intelligence in media market going forward. Visual media refers to any form of communication that utilizes visual elements to convey information or tell a story. Generative AI in media are used in visual media to allow AI generators to produce more realistic and visually appealing content such as in the field of image and video generation, AI algorithms trained on diverse visual datasets can create lifelike scenes, characters, or animations. For instance, in September 2023, according to HubSpot, a US-based software company, over 50% of marketers used visuals in over 91% of their content, with original graphics being the most used type of visual content by marketers at 36%, followed by stock photos at nearly 34%. Therefore, the growing acceptance of visual media is driving the growth of the generatIve artificial intelligence in media market.
Market Trends –
Major companies operating in the generative AI in media market are focused on developing generative AI ad creation tools to enhance advertising content and user engagement. Generative AI ad creation tools are software applications or platforms that utilize generative artificial intelligence (AI) algorithms to automatically generate advertising content for marketing campaigns, such as images, videos, and copy. For instance, in January 2024, Microsoft Corporation, a US-based technology company, launched Retail Media Creative Studio, an advanced generative AI ad creation tool. This tool enables retailers and advertisers to create banner ads with ease, improving banner ads’ participation, performance, and, ultimately, revenue. The AI-powered tools automatically align with each retailer’s style guide, while users can customize ads through further prompts and modify all ad elements. This tool is designed for retail media’s specific needs and challenges, aiming to unlock robust generative AI offerings to transform retail business across personalization, efficiency, and monetization.
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
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Regional Insights –
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.
Key Companies –
Major companies operating in the generative AI in media market report are Amazon Inc.; Apple Inc.; Alphabet Inc.; Microsoft Corporation; Comcast Corporation; Meta Inc.; Huawei Technologies Co. Ltd.; The Walt Disney Company; Tencent Holdings Limited; Sony Corporation; Intel Corporation; International Business Machines Corporation (IBM); Netflix Inc.; Nvidia Corporation; Salesforce Inc.; Baidu Inc.; Adobe Inc.; Autodesk Inc.; OpenAI; Unity Software Inc.; The Foundry Visionmongers Limited; Primer Technologies Inc.; Ziva Dynamics Inc.; DeepMotion Inc.; Moonshot CVE Limited
Table of Contents
1. Executive Summary
2. Generative AI In Media Market Characteristics
3. Generative AI In Media Market Trends And Strategies
4. Generative AI In Media Market – Macro Economic Scenario
5. Global Generative AI In Media Market Size and Growth
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31. Generative AI In Media Market Other Major And Innovative Companies
32. Global Generative AI In Media Market Competitive Benchmarking
33. Global Generative AI In Media Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Generative AI In Media Market
35. Generative AI In Media Market Future Outlook and Potential Analysis
36.Appendix
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