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Computational Creativity Market is expected to grow $685 million by 2023

08-25-2020 03:17 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets™

Computational Creativity Market is expected to grow $685

According to a research report "Computational Creativity Market by Component (Solutions and Services), Technology, Application (Marketing & Web Designing, Product Designing, Music Composition, Photography & Videography, Automated Story Generation), and Region - Global Forecast to 2023", The global computational creativity market size is expected to grow from USD 204 million in 2018 to USD 685 million by 2023, at a Compound Annual Growth Rate (CAGR) of 27.4% during the forecast period. Major factors fueling the market growth include automation of creative tasks to improve the creative process. Increasing adoption of computational creativity solutions in modern applications and increasing investments and funding in the computational creativity start-ups could provide growth opportunities for vendors in the market.

Browse 56 market data Tables and 44 Figures spread through 158 Pages and in-depth TOC on "Computational Creativity Market- Global Forecast to 2023"

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/computational-creativity-market-264873428.html

ML and deep learning segment to hold the largest market size during the forecast period

The increasing adoption of ML and deep learning algorithm for implementing various applications of computational creativity is contributing to the rapid growth of the segment in the computational creativity market. With the rapid technological advancements in the AI field, computational creativity solutions will utilize ML and deep learning algorithms to design more relevant and personalized experiences for end consumers.

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Marketing and web designing to hold a larger market size during the forecast period

Marketing and web designing application is gaining traction in computational creativity market owning to its ability to assist users easily and quickly build creative website with a few simple clicks. Computational creativity solutions are also being used for branding, advertising, and building effective marketing campaigns. These factors are expected to drive the adoption of computational creativity solutions for marketing and web designing applications in coming years.

North America to hold the largest market size during the forecast period

North America is the major revenue generating region in the global computational creativity market. The region is witnessing major developments in the computational creativity space. Most of the AI-based solution providers in North America are involved in product innovations and deployment of the AI-based solutions. They are adopting various growth strategies to strengthen their position in the computational creativity market.

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Major vendors in the global computational creativity market include IBM (US), Google (US), Microsoft (US), Adobe (US), Amazon Web Services (US), Autodesk (US), Jukedeck (UK), HUMTAP (US), Amper Music (US), ScriptBook (Belgium), B12 (US), The Grid (US), Canva (Australia), Hello Games (UK), IntegraPay (Australia), B12 (US), Lumen5 (Canada), Skylum (US), Logojoy (Canada), Runway (US), Avia (Luxembourg), Prisma Labs (US), Object AI (Hong Kong), Firedrop (UK), Obvious (France), Automated Creative (UK), and Cyanapse(UK).

Contact:
Mr. Aashish Mehra.
MarketsandMarkets™ INC.
630 Dundee Road, Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
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