Press release
AI In Media And Entertainment Market Size, Growth, In-depth Analysis, Research Report Forecast up to 2028: GrayMeta and IBM Corporation are Key Players.
The prime factors propelling AI in media and entertainment market growth are the surge in the usage of AI technology in various subsectors of the media and entertainment industry and advancements in the video game and animation sectors.As per the report, the AI in Media and Entertainment market is expected to grow at a steady pace.
AI-powered software is used to improve and diversify web content, and AI tools are becoming increasingly capable of sorting and categorizing online content. The number of influencers and content producers on social media and video-streaming platforms like Tiktok, Instagram, Facebook, and YouTube is increasing daily. In 2022, according to Wallaroo Media, more than 83% of Tiktok users have uploaded videos to the platform. In 2022, Vogue and Snapchat recently collaborated on an augmented reality feature that lets users record videos and photos of people wearing certain outfits. Growing consumption of animated products and gaming has encouraged AI-powered tools in these sectors to make animated characters more realistic by synchronizing lip movements with voice-overs, displaying accurate facial expressions, and capturing detailed body movements. According to a gaming report by Lumikai State of India in 2022, the number of mobile game downloads in India went up from 10 billion in 2021 to 15 billion in 2022. In March 2023, a new online action video game called Abyss World was released by Mysten Labs Company in partnership with Metagame Industries. This gaming company uses AI and other technology. In January 2023, a new gaming development firm, Scenario, was established to provide unique art style effects and materials that independent game artists and developers can use.
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https://www.knowledge-sourcing.com/report/ai-in-media-and-entertainment-market
AI in Media and Entertainment market has been segmented into application and geography.
Based on the application, the market has been segmented into gaming, video production, plagiarism detection, personalization, production management, and others.
By region, Asia Pacific is expected to retain a considerable market share due to increased video and music streaming activities. According to Netflix, in 2022, revenues from the Asia-Pacific region rose to $ 3.57 billion, 9% up from 2021. According to the South Korean Film Council Annual Report, in 2019, OTT movie platforms generated US$58.1 million in revenue. The growing media and entertainment industry opens up new market opportunities for the broader application of AI to meet customer demands and boost customer satisfaction.
One of the main ways the pandemic has negatively affected AI in the media and entertainment market is by disrupting the data pipeline that feeds AI algorithms. The cancellation of live events and the shutdown of physical venues led to a decrease in the availability of data for training AI models. In addition, the economic impact of the pandemic has forced many media companies to cut costs, which may have led to a reduction in investment in AI technologies.
The major players covered in the AI in Media and Entertainment market are Amazon Web Services Inc, Gravity Media, GrayMeta, IBM Corporation, Microsoft Corporation, Production Resource Group LLC, Synthesia Ltd, Valossa Labs Ltd, PlaySight Interactive, and Move.ai.
This AI in Media and Entertainment market has been analyzed into the following segments:
• By Application
o Gaming
o Video production
o Plagiarism Detection
o Personalization
o Production Management
o Others
• By Geography
o North America
• United States
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• United Kingdom
• Germany
• France
• Spain
• Others
o Middle East and Africa
• UAE
• Israel
• Saudi Arabia
• Others
o Asia Pacific
• Japan
• China
• India
• South Korea
• Thailand
• Taiwan
• Indonesia
• Others
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Ai For Video Production Market: https://www.knowledge-sourcing.com/report/ai-for-video-production-market
Ai Chatbot Market: https://www.knowledge-sourcing.com/report/ai-chatbot-market
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Knowledge Sourcing Intelligence
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing market research studies across ten industry verticals. KSI has a team of experienced and young professionals who focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports annually centering on the niche and latest technologies. In addition, we engage with key decision-makers and stakeholders across the value chain to provide clients with a detailed analysis and bird's-eye view of the market with complete market dynamics, statistical forecasts, competitive analysis, key trends, market drivers, and challenges, and strategic recommendations for making informed decisions. Our success lies in our analysts' efforts to meet client expectations by delivering quality work within the stipulated deadlines.
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