Press release
Deepfake AI: Shaping the Digital Frontier in 2024
According to The Business Research Company's, the deepfake AI market size has grown exponentially in recent years. It will grow from $0.65 billion in 2023 to $0.82 billion in 2024 at a compound annual growth rate (CAGR) of 25.9%. the growth in the historic period can be attributed to the influence on consumer electronics, expansion of digital content creation, growth in virtual reality (VR) and augmented reality (AR), rising demand for entertainment and media content, and increasing accessibility of data and computing power.the deepfake AI market size is expected to see exponential growth in the next few years. It will grow to $2.06 billion in 2028 at a compound annual growth rate (CAGR) of 26.0%. the growth in the forecast period can be attributed to the impact on advertising effectiveness, applications in sports analytics, demand for realistic virtual assistants, demand for synthetic data generation, and applications in cybersecurity and fraud detection. Major trends in the forecast period include advancements in computational photography, integration with smart city initiatives, personalized gaming experiences, technological convergence with other AI technologies, and advancements in voice cloning.
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Market Drivers and Trends:
The rise of manipulated media is expected to propel the growth of deepfake AI going forward. Manipulated media refers to digital content such as images, videos, or audio that has been altered or fabricated using various techniques, often with the intent to deceive or mislead. The rise of manipulated media is due to several factors, such as advancements in artificial intelligence and machine learning technologies, increased accessibility to powerful digital tools, and the proliferation of social media platforms that facilitate the rapid spread of altered content. Deepfake AI is used in manipulated media to create highly realistic but fabricated videos, images, or audio recordings that misrepresent reality. For instance, in December 2022, according to the NATO Strategic Communications Centre Of Excellence, a Latvia-based multi-nationally constituted and NATO-accredited international military organization, inauthentic activity remained on platforms such as Instagram was 96% in 2021, and 100% in 2022 while on TikTok, it was 85% in 2021 and 97% in 2022. Therefore, the rise of manipulated media is driving the growth of the deepfake AI market.
Major companies operating in the deepfake AI market are focusing on developing advanced solutions, such as real-time analysis, to gain a competitive edge in the market. Real-time analysis refers to the process of examining data and providing insights or responses almost instantaneously as the data is generated or received. For instance, in March 2024, BioID GmbH, a Germany-based face detection company that offers proprietary liveness detection and facial recognition, launched a new version of its deepfake detection software to secure biometric authentication and digital identity verification against manipulated images and videos. The software prevents identity spoofing by detecting deepfakes and content generated or manipulated by AI, with real-time analysis and feedback on both photos and videos.
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Major Key Players of the Market:
Google LLC, Microsoft Corporation, Amazon Web Services Inc, Intel Corporation, Kairos Technologies, Veritone Inc, Cogito Tech, MyHeritage, Pindrop Security, iProov, D-ID, Gradiant, Paravision, Validsoft, Truepic, HyperVerge, BioID GmbH, DuckDuckGoose AI, Idenfy, Deepware Scanner, Sensity AI, Quantum Integrity
Deepfake AI Market 2024 Key Insights:
• The deepfake ai market size is expected to grow to$2.06 billion in 2028 at a compound annual growth rate (CAGR) of 26.0%.
• Rise Of Manipulated Media Propelling The Growth Of Deepfake AI Market
• McAfee Corp. And Intel Partner To Enhance AI-Powered Deepfake Detection Technology
• North America was the largest region in the deepfake ai market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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