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Generative AI in Content Creation Market CAGR of 33.8%.
Generative AI in Content Creation Market
As per the report, 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 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%.
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Internet Usage Surge Fuels Generative AI In Content Creation 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.
Introduction Of Advanced Generative AI Tools For Content Creation
Major companies operating in the generative AI content creation market are developing technologically advanced products, such as generative AI tools, to generate listing content to drive revenues in the market. A generative AI tool is software that uses learned patterns to make new content, such as text, images, or videos. It speeds up creativity by creating new ideas automatically. For instance, in September 2023, Amazon.com, Inc., a US-based e-commerce company, launched its generative AI tool to generate listing content, which aims to simplify sellers' lives and streamline the product listing process. This unique tool uses large language models to create detailed product content from brief descriptions or keywords provided by sellers. It saves time and enhances listing quality and consistency, improving the shopping experience.
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
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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.
Contents of the report:
1. Executive Summary
2. Generative AI in Content Creation Market Report Structure
3. Generative AI in Content Creation Market Trends And Strategies
4. Generative AI in Content Creation Market - Macro Economic Scenario
5. Generative AI in Content Creation Market Size And Growth
…..
27. Generative AI in Content Creation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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