The AI In Media & Entertainment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s AI In Media & Entertainment Global Market Report 2024, The AI in media & entertainment market size has grown exponentially in recent years. It will grow from $13.79 billion in 2023 to $17.65 billion in 2024 at a compound annual growth rate (CAGR) of 28.0%. The growth in the historic period can be attributed to initial AI-based copyright protection, content moderation tools, rise in content personalization, regional expansion and increased streaming activities, demand for game development.
The AI in media & entertainment market size is expected to see exponential growth in the next few years. It will grow to $44.08 billion in 2028 at a compound annual growth rate (CAGR) of 25.7%. The growth in the forecast period can be attributed to advanced content personalization, ai-generated content creation, expanded AR and VR applications, ai-enhanced user interaction, data-driven predictive analytics. Major trends in the forecast period include content copyright protection, initial chatbot and interaction systems, ai-enhanced editing, voice and language recognition, predictive analytics.
The spike in popularity of OTT platforms and growth in online game streaming are expected to propel AI in media and entertainment market. The presence of subscribers on over-the-top (OTT) platforms is growing due to improved networks, more robust internet connectivity, and multimedia service-capable mobiles. Recently, the market has also shown growth in the online gaming industry due to an array of factors such as increased penetration of affordable internet, access to online games, and large-scale development in the gaming industry. This increasing demand for OTT platforms and online gaming has boosted the utilization of AI in gaming and OTT to deliver a realistic gaming and virtual experience for players and viewers on a virtual platform. For instance, in July 2023, according to the Entertainment Software Association, a US-based video game trade association, US consumers spent $59.6 on video games in 2021, an increase of $56.1 from the previous year. Furthermore, in April 2023, according to a press release shared by Netflix Inc., a US-based streaming media company, Netflix had 223 million paying subscribers in the fourth quarter of 2022, and by the first three months of 2023, that number had risen to 231 million. Therefore, the spike in popularity of OTT platforms and growing online gaming streaming will drive AI in the media and entertainment market.
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The AI in media & entertainment market covered in this report is segmented –
1) By Solution: Hardware/Equipment, Services
2) By Product: Simulation FX, Animation, Modelling, Matte Painting, Compositing
3) By Application: Gaming, Fake Story Detection, Plagiarism Detection, Personalization, Production Planning & Management, Sales and Marketing, Talent Identification, Content Capture, Sports Automatic Productions
Major companies operating in the AI in media and entertainment market are focused on introducing advanced solutions, such as generative AI-powered recommendations, to gain a competitive edge in the market. Generative AI-powered recommendations is technology that uses advanced machine learning algorithms to create highly personalized and relevant content recommendations for users based on their preferences, purchase history, and browsing patterns. For instance, in November 2023, Google LLC, a US-based Technology company launched Vertex AI Search. Vertex AI Search is a set of capabilities that uses generative AI to provide advanced search and recommendation functionalities for various industries, such as media and entertainment, healthcare, and life sciences. It enables organizations to quickly ingest data, add customization, and build search engines or chatbots that can interact with customers and answer questions grounded in enterprise data.
The ai in media & entertainment market report table of contents includes:
1. Executive Summary
2. AI In Media & Entertainment Market Characteristics
3.AI In Media & Entertainment Market Trends And Strategies
4.AI In Media & Entertainment Market analysis
5.AI In Media & Entertainment Market Size And Growth
6.AI In Media & Entertainment Segmentation
7.AI In Media & Entertainment Regional And Country Analysis
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27.AI In Media & Entertainment Competitive Landscape And Company Profiles
28.AI In Media & Entertainment Key Mergers And Acquisitions
29. AI In Media & Entertainment Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Amazon.com Inc.
- Alphabet Inc.
- Microsoft Corporation
- Intel Corporation
- International Business Machines Corp.
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Global Entertainment & Media Market Research Report: Information By Type (Wired and Wireless), Application (Books & Magazine, Films & Theatrical, Social Media, Music, Animation, Video Games, Outdoor Advertising, Radio & Broadcasting, Amusement Park/Facilities, Sports, Toys and Arts) and Region (North America, Europe, Asia-Pacific and Rest of the World: Middle East & Africa and South America) - Forecast till 2030Market OverviewGlobal Entertainment and Media Market generated a revenue of USD 2,133.4 Billion in 2019 and is expected to reach a market value of USD 5,099.2 Billion by 2030, growing at an 8.6% CAGR.The increasing popularity of video games and e-sports and the increasing penetration of smartphones are major factors driving the market growth of media and entertainment.
However, piracy is the major restraining factor for the market.
On the other hand, the development of 5G technology is expected to create a lucrative growth opportunity for the players operating in the global market.Segmental AnalysisGlobal Entertainment and Media Market has been segmented based on Type, Application, and Region.By type, the global entertainment and media market has been segmented into books & magazines, films & theatrical, social media, music, animation, video games, outdoor advertising, radio & broadcasting, amusement park/facilities, sports, toys, and arts.
In 2019, the radio and broadcasting segment accounted for the largest market share; it is expected to register a 10.1% CAGR during the forecast period.Based on type, the global entertainment and media market is segmented into wired and wireless.
In 2019, the wired segment accounted for the larger market share; it is expected to register a 5.4% CAGR during the forecast period.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/7773Competitive AnalysisThe key players operating in the global entertainment and media market are News Corporation (US), Advance (US), iHeartMedia Inc. (US), Discovery Inc. (US), Warner Media LLC (US), Verizon (US), Alphabet (US), Disney (US), Baidu Inc. (China), Grupo Globo (Brazil), Comcast Corporation (US), Factbook Inc. (US), Bertelsmann SE & Co. KGaA (Germany), Viacom (US), Hasbro (US), and Mattel (US).Regional AnalysisThe geographic analysis of the Entertainment and Media Market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.North America is the major region in terms of market share in the entertainment and media market.
North America is expected to witness higher demand for video games, online video streaming services, and books and magazines in the coming years.
