AI In Media & Entertainment Market Worth $99.48 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, June 28, 2022 /PRNewswire/ -- The global AI in media & entertainment market size is expected to reach USD 99.48 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 26.9% from 2022 to 2030. The increasing popularity of virtual creation in the media and entertainment business, and its ability to create high-definition graphics and real-time virtual worlds, are driving the market forward. Artificial intelligence(AI) is helping media companies to leverage these benefits by enhancing content management across various phases in the workflow of content processes, including smart content analysis and categorization, automatic image tagging, scalable personalization and predictions, time-saving content creation assistance, and text intelligence and analysis, and voice-controlled platforms.

Key Industry Insights & Findings from the report:

• In terms of solutions, the services segment accounted for the maximum revenue share in 2021 and will expand further at a steady CAGR from 2022 to 2030.
• This growth is attributed to the lack of trained professionals in virtual production and VFX technology; film studios or moviemakers often hire qualified agencies and their services to implement VFX in their video productions.
• The sales and marketing segment accounted for the largest share of the global market revenue in 2021.
• AI is used for trading or marketing aspects, including design, advertising, and promotions in the entertainment & media fields.
• North America is projected to dominate the market throughout the forecast period as the region offers significant growth opportunities for industry expansion due to substantial investments in AI projects and related R&D activities.

Read 100-page market research report for more Industry Insights, "AI In Media & Entertainment Market Size, Share & Trends Analysis Report By Solution (Hardware/Equipment, Services), By Application (Gaming, Personalization), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

AI In Media & Entertainment Market Growth & Trends

AI technology providers work with broadcast companies to incorporate AI to optimize programming timetables. For instance, the BBC has started many efforts to apply AI/Machine Learning (ML) to optimize and automate content management. These activities have been implemented in a live telecast and deliberated further in later segments. These projects precisely target workflow enhancements aiming at time and cost savings in creation and distribution. The growing use of AI-based virtual production infrastructure in movie studios and TV shows is anticipated to upsurge the demand for motion capture workstations, virtual cameras, simulation cameras, and other virtual production hardware in the coming years.

The rising popularity of realistic virtual elements and three-dimensional designs for movies and video games is expected to drive the demand for computer graphics cards. Artificial intelligence in the media & entertainment industry is implemented for trading or marketing, including design, advertisements, and film promotion. Smart AI frameworks can create extensive marketing and advertising solutions. Using AI, predictive analytics can perform marketing procedures faster. AI-driven marketing software helps create promotional approaches, address audience goals, and make effective customer solutions. For instance, 'Alibaba Luban', an AI-based graphic design software produces visual designs a hundred times faster than humans, which means it will create 8000 banners in just a second.

AI In Media & Entertainment Market Segmentation

Grand View Research has segmented the global AI in media & entertainment market on the basis of solution, application, and region:

AI In Media & Entertainment Market - Solution Outlook (Revenue, USD Million, 2017 - 2030)

• Hardware/Equipment
• Services

AI In Media & Entertainment Market - Application Outlook (Revenue, USD Million, 2017 - 2030)

• Gaming
• Fake Story Detection
• Plagiarism Detection
• Personalization
• Production Planning & Management
• Sales & Marketing
• Talent Identification
• Content Capture
• Sports Automatic Productions
• Video Production
• Broadcasting & Live Streaming
• Analytics

AI In Media & Entertainment Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Germany
• France
• Norway
• Sweden
• Finland
• Denmark
• The Netherlands
• Spain
• Ireland
• Italy
• Switzerland
• Belgium
• Asia Pacific
• China
• Japan
• India
• Singapore
• Australia & New Zealand
• South America
• Brazil
• Middle East & Africa 
• UAE
• Saudi Arabia
• Qatar

List of Key Players in Artificial Intelligence (AI) In Media & Entertainment Market

• 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
• Sportway AB
• EVS Broadcast Equipment S.A.
• Hudl
• Move.ai
• AutomaticTV

 Check out more related studies published by Grand View Research:

• Artificial Intelligence For IT Operations Platform Market The global artificial intelligence for IT operations platform market size is expected to reach USD 33.82 billion by 2030, registering a CAGR of 17.7%, according to a new report by Grand View Research, Inc. Rapid digital transformations in global business organizations have brought about increasingly complex datasets. Businesses spend a significant amount of time, cost, and effort on processing large volumes of data. IT operations are also on the edge of this transformation, wherein IT teams are required to manage complex datasets to sustain their business. Besides, there has been a considerable increase in data loads over the last few years due to the distributed architecture and dynamic nature of business applications and services.
• Artificial Intelligence Market The global artificial intelligence market size is expected to reach USD 1,811.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 38.1% from 2022 to 2030. Artificial Intelligence (AI) denotes the concept and development of computing systems capable of performing tasks customarily requiring human assistance, such as decision-making, speech recognition, visual perception, and language translation. AI uses algorithms to understand human speech, visually recognize objects, and process information. These algorithms are used for data processing, calculation, and automated reasoning.
• Voice And Speech Recognition Market - The global voice and speech recognition market size is anticipated to reach USD 53.66 billion by 2030, registering a CAGR of 15.3% over the forecast period, according to a new report by Grand View Research, Inc. The market is anticipated to witness an upsurge in the adoption of voice-activated systems, voice-enabled devices, and voice-enabled virtual assistant systems owing to the rising applications in the banking and automobile sectors. The escalating need to counter fraudulent activities and enhance security in the banking sector is boosting the adoption of voice biometrics for the authentication of users. The automobile sector is expected to gain momentum owing to advances in technology & emergence of innovative concepts, such as autonomous and connected cars.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg  

SOURCE Grand View Research, Inc.