The global AI in Media & Entertainment market is expected to show a remarkable growth in the forecast period owing to the increasing popularity of OTT platforms and enhanced online gaming experience
NEWARK, Del: From 2022 to 2032, it is anticipated that the AI in media & entertainment market will increase at a compound annual growth rate (CAGR) of 26%, reaching US$ 132.16 billion. The market is anticipated to reach US$ 13.1 billion in 2022, an increase of 26% year over year from 2021. The global adoption of AI in the media and entertainment industry is being fueled by applications in gaming, fake story detection, plagiarism detection, production planning and management, personalization, sales and marketing, talent scouting, and other areas.
The primary driver of the market is the growing acceptance of virtual creation in the media and entertainment industries, as well as its capacity to produce real-time virtual worlds and high-definition images.
The AI in Media & Entertainment market refers to the use of artificial intelligence (AI) technologies such as machine learning, natural language processing, computer vision, and robotics to enhance and automate various processes within the media and entertainment industry. This industry encompasses a wide range of sectors, including film and television, music, gaming, advertising, and publishing.
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The market for AI in Media & Entertainment is growing rapidly due to advancements in AI technologies and their increasing adoption by media and entertainment companies. Some of the major drivers of this market include the need for personalized content, the increasing demand for high-quality visual effects, the need for automated content production, and the growing popularity of streaming services.
One of the main applications of AI in Media & Entertainment is in content creation and curation. AI algorithms can analyze large amounts of data to identify patterns and trends, which can help content creators make more informed decisions about what type of content to produce and what topics to cover. AI can also be used to automate certain aspects of content production, such as video editing and post-production.
Key Takeaways from the Market Study
- By solution, AI in media & entertainment services to capture 59.2% revenue in 2022
- By application, sales & marketing segment to accumulate a revenue share of 21.7%
- The North American market is expected to secure US$ 65 Billion while expanding at a CAGR of 24.2%
- Asia Pacific to record a CAGR of 26.8% during the forecast period ranging from 2022-2032
- Global AI in media & entertainment market worth to expand 10x from 2022 to 2032
“The global AI in Media & Entertainment market is expected to show a remarkable growth in the forecast period owing to the increasing popularity of OTT platforms and enhanced online gaming experience,” says an FMI analyst.
Key players in the global AI in Media & Entertainment market include Amazon Web Services, Inc., EMG, Gearhouse South Africa Pty. Ltd., Gravity Media, GrayMeta, International Business Machines Corp., LMG, LLC, Matchroom Sport Ltd., Production Resource Group, L.L.C., Synthesia Ltd., TAIT, Valossa Labs Ltd., Veritone, Inc., Pixellot, PlaySight Interactive Ltd., AISportsWatch GmbH, Spiideo, Sport way AB, EVS Broadcast Equipment S.A., Hudl, Move.ai, AutomaticTV, among others. Some of the recent developments among the players are:
- In May 2022, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company, announced the general availability of Amazon Elastic Compute Cloud (Amazon EC2) C7g instances, the next generation of compute-optimized instances powered by AWS-designed Graviton3 processors.
- In May 2022, Taboola, a global leader in powering recommendations for the open web, helping people discover things they may like, today announced it has entered into a definitive agreement to acquire Gravity R&D, a leading personalization technology company founded in data science.
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Key Segments Covered in the AI in Media & Entertainment Industry Survey
AI in Media & Entertainment Market by Solution:
- AI in Media & Entertainment Hardware/Equipment
- AI in Media & Entertainment AI in Media & Entertainment Services
AI in Media & Entertainment Market by Application:
- AI in Media & Entertainment in Fake Story Detection
- AI in Media & Entertainment in Plagiarism Detection
- AI in Media & Entertainment in Personalization
- AI in Media & Entertainment in Production Planning & Management
- AI in Media & Entertainment in Sales & Marketing
- AI in Media & Entertainment in Talent Identification
- AI in Media & Entertainment in Content Capture
- AI in Media & Entertainment in Sports Automatic Productions
- Video Production
- Broadcasting & Live Streaming
AI in Media & Entertainment Market by Region:
- North America AI in Media & Entertainment Market
- Latin America AI in Media & Entertainment Market
- Europe AI in Media & Entertainment Market
- Asia Pacific AI in Media & Entertainment Market
- Middle East & Africa AI in Media & Entertainment Market
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
3.1. Market Dynamics
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