Overview and Scope
Generative AI in content creation refers to the application of artificial intelligence technology to automatically produce and leverage machine learning techniques, particularly deep learning, to understand and mimic various patterns, styles, or formats found in large datasets, enabling them to produce new, original content that resembles human-created works. Generative AI in content creation utilizes artificial intelligence algorithms to analyze and learn from existing data patterns.
Sizing and Forecast
The generative AI in content creation market size has grown exponentially in recent years. It will grow from $12.11 billion in 2023 to $16.17 billion in 2024 at a compound annual growth rate (CAGR) of 33.5%. The growth in the historic period can be attributed to advancements in machine learning, increased computing power, expansion of natural language processing, rise of generative adversarial networks, and emergence of creative applications.
The generative AI in content creation market size is expected to see exponential growth in the next few years. It will grow to $51.79 billion in 2028 at a compound annual growth rate (CAGR) of 33.8%. The growth in the forecast period can be attributed to evolution of generative ai algorithms, adoption by small and medium-sized enterprises, innovation in creative industries, integration of multimodal capabilities and democratization of content creation tools. Major trends in the forecast period include automation of routine tasks, integration with existing workflows, ethical considerations, democratization of content creation, and expansion into new domains.
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The generative ai in content creation market covered in this report is segmented –
1) By Component: Software, Services
2) By Application: Text Generation, Image Generation, Video Generation, Audio Generation, Other Applications
3) By Industry Vertical: Entertainment And Media, E-Commerce, Healthcare, Marketing And Advertising, Other Industry Verticals
North America was the largest region in the generative AI in content creation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in content creation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The surge in demand for internet usage is expected to propel the growth of generative AI in the content creation market going forward. The rise in demand for internet usage is due to improved infrastructure, expansion of broadband networks, and the proliferation of mobile devices such as smartphones and tablets. Generative AI’s ability to produce diverse content across various formats, styles, and topics ensures internet content remains dynamic, captivating, and pertinent, meeting the varied preferences of users. For instance, in November 2022, according to a report published by the International Telecommunication Union, a Switzerland-based specialized agency, approximately 5.3 billion individuals, constituting 66% of the world’s population, were using the Internet in 2022. This demonstrates a growth rate of 6.1% compared to the previous year. Therefore, the surge in demand for internet usage is driving the growth of generative AI in the content creation market.
Key Industry Players
Major companies operating in the generative AI in content creation market report are Amazon Inc.; Google LLC; Microsoft Corporation; International Business Machines Corporation ; Oracle Corporation; NVIDIA Corporation; Adobe Inc.; Pepper Content Pvt. Ltd.; Midjourney Technologies Inc.; Rent the Runway Inc.; Contentful GmbH; Jasper AI Inc.; Braintrust Inc.; Anyword Inc.; OpenAI; AI21 Labs Ltd.; Ryte GmbH; Synthesia Technologies Ltd.; Magical Tome Inc.; Brain Technologies AI Ltd.; AX Semantics GmbH ; Amper Music Inc.; Writesonic Inc.; Hypotenuse AI Inc.; Pictory.AI Inc.
The generative ai in content creation market report table of contents includes:
1. Executive Summary
2. Generative AI in Content Creation Characteristics
3. Generative AI in Content Creation Trends And Strategies
4. Generative AI in Content Creation – Macro Economic Scenario
5. Global Generative AI in Content Creation Size and Growth
…..
32. Global Generative AI in Content Creation Competitive Benchmarking
33. Global Generative AI in Content Creation Competitive Dashboard
34. Key Mergers And Acquisitions In The Generative AI in Content Creation
35. Generative AI in Content Creation Future Outlook and Potential Analysis
36. Appendix
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