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Generative AI In Media And Entertainment Market Poised to Hit $6.73 Billion by 2029 with Accelerating Growth Trends
Generative AI In Media And Entertainment Market
Generative AI In Media And Entertainment Market Size Growth Forecast: What to Expect by 2025?
The market size for generative AI within the media and entertainment sector has experienced exponential growth lately. Predicted to escalate from $1.97 billion in 2024 to $2.53 billion in 2025, this growth represents a compound annual growth rate (CAGR) of 28.1%. Factors behind this significant growth during the historic period include enhanced computing capabilities, innovative experimentation, improved data accessibility and quality, personalized content and the influence of big data.
How Will the Generative AI In Media And Entertainment Market Size Evolve and Grow by 2029?
Expectations are high for substantial expansion in the generative AI for media and entertainment market in the coming years, surging to a size of $6.73 billion by 2029, with a compound annual growth rate (CAGR) of 27.8%. This projected growth could be attributed to the integration of AI with creative tools and workflows, considerations for ethics and regulations, cost-effectiveness, and scalability, as well as the rise of AI-assisted content discovery. Future trends predicted to drive growth are improvements in deep learning methodologies, opportunities for monetization, creation of content in real-time and ultra-realistic content generation.
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What Drivers Are Propelling the Growth of Generative AI In Media And Entertainment Market Forward?
The escalating engagement with video games is predicted to spur the expansion of the generative AI media and entertainment market. Video games, being platforms where players interact with a computer game using an interface that produces visual feedback on a screen, have gained popularity due to their accessibility, a range of content, societal connectivity, cultural impact, and continuous innovation in the sector. Generative AI is gaining momentum in numerous facets of video game development, boosting creativity, productivity, and player engagement, and yielding more captivating and customized game experiences. For example, according to GamesIndustry.biz, a significant UK-based publication known for global video game industry updates, approximately 75% of European gamers are adults with an average age of 31.4 years. In 2022, the workforce in the European video game industry surged by 6.7%, amounting to roughly 115,000 employees along with an industry income increment of 5%, attaining €25.7 billion (USD 28.7 billion). Thus, the flourishing engagement in video games is steering the expansion of the generative AI media and entertainment market.
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Which Emerging Trends Are Transforming the Generative AI In Media And Entertainment Market in 2025?
Key players in the generative AI media and entertainment market are channeling their efforts towards creating advanced AI technologies like media copilot. This is to maintain their market competitiveness and satisfy the ever-changing requirements of the industry. Media Copilot is a novel AI tool designed to help users scrutinize content performance across different distribution platforms and revenue structures in the media and entertainment sectors. In April 2024, for example, Symphony Innovation LLC, a software firm based in the U.S., debuted its AI-powered Media Copilot that is both generative and predictive. This tool utilizes generative and predictive AI to aid users in evaluating content performance across diverse distribution platforms and revenue structures. Moreover, it comes with SymphonyAI Media Copilot and revenue model optimization functions.
What Are the Key Segments in the Generative AI In Media And Entertainment Market?
The generative AI in media and entertainment market covered in this report is segmented -
1) By Type: Text-To-Image Generation, Image-to-Image Generation, Music Generation, Video Generation, 3 Dimensional Modeling And Animation
2) By Offerings: Solution, Services
3) By Deployment Mode: Cloud-Based, On-Premise
4) By Application: Gaming, Film And Television, Advertising And marketing, Music And Sound Production, Virtual Reality (VR) And Augmented Reality (AR), Other Applications
Subsegments:
1) By Text-To-Image Generation: AI-Powered Image Creation From Text Descriptions, Art And Design Generation, Photorealistic And Stylized Image Generation
2) By Image-To-Image Generation:Image Enhancement And Editing, Style Transfer And Customization, Image Restoration And Transformation
3) By Music Generation: AI-Composed Music For Films, Games, And Commercials, Music Arrangement And Composition Tools, Soundtrack And Audio Effects Generation
4) By Video Generation: AI-Driven Video Synthesis And Editing, Automated Video Content Creation, AI For Animation And Motion Graphics
5) By 3 Dimensional Modeling And Animation: AI-Based 3D Object Creation, 3D Animation Tools, AI-Enhanced Character Modeling And Movement
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Who Are the Key Players Shaping the Generative AI In Media And Entertainment Market's Competitive Landscape?
Major companies operating in the generative AI in media and entertainment market report are Amazon Inc.; Alphabet Inc.; Samsung Electronics Co. Ltd.; Microsoft Corporation; Meta Platforms Inc.; Tencent Holdings Ltd.; Tesla Inc.; Intel Corporation; International Business Machines Corporation; Oracle Corporation; Uber Technologies Inc.; Netflix Inc.; PayPal Holdings Inc.; NVIDIA Corporation; Salesforce Inc.; Baidu Inc.; Adobe Inc.; Snap Inc.; X Corp; Zoom Video Communications Inc; Sentient Technologies LLC; Gong Inc.; DeepMind Technologies Limited; Cohere Inc.; OpenAI Inc.
What Geographic Markets Are Powering Growth in the Generative AI In Media And Entertainment Market?
North America was the largest region in the generative AI in media and entertainment market in 2024. The regions covered in the generative AI in media and entertainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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