PUBLISHER: The Business Research Company | PRODUCT CODE: 1499846
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499846
Generative AI within creative sectors involves employing artificial intelligence, particularly generative models, to facilitate or even lead creative endeavors across fields like art, music, literature, design, and beyond. This technology autonomously generates content resembling human-created work by analyzing patterns and styles gleaned from existing data.
Key categories of generative AI applications in creative industries encompass text-to-image generation, image-to-image generation, music generation, video generation, 3D modeling, and animation. Text-to-image generation, for instance, entails leveraging deep learning models to produce realistic images from textual descriptions. These technologies are deployed across various platforms, both on-premise and cloud-based, catering to diverse applications spanning gaming, film and television, advertising and marketing, as well as music and sound production, among others.
The generative AI in creative industries market research report is one of a series of new reports from The Business Research Company that provides generative AI in creative industries market statistics, including generative AI in creative industries industry global market size, regional shares, competitors with a generative AI in creative industries market share, detailed generative AI in creative industries market segments, market trends and opportunities, and any further data you may need to thrive in the generative AI in creative industries industry. This generative AI in creative industries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The generative AI in creative industries market size has grown exponentially in recent years. It will grow from $2.33 billion in 2023 to $3.08 billion in 2024 at a compound annual growth rate (CAGR) of 32.2%. This growth observed during the historical period can be attributed to factors such as the emergence of creative coding communities, heightened public awareness and interest in generative AI, and the proliferation of open-source frameworks.
The generative AI in creative industries market size is expected to see exponential growth in the next few years. It will grow to $9.51 billion in 2028 at a compound annual growth rate (CAGR) of 32.6%. The anticipated growth in the forecast period can be attributed to advancements in data efficiency and few-shot learning techniques, a focus on ethical and inclusive AI practices, and the exploration of cross-domain creative applications. Major trends expected during this period encompass AI-powered content generation and automation, the convergence of creativity across domains, the rise of interactive and immersive experiences, as well as the integration of AI-driven design and innovation processes.
The generative AI in creative industries market is poised for growth, driven by the increasing adoption of AI technology. AI technology, a field within computer science and engineering, focuses on developing systems and algorithms that emulate human-like intelligence or behavior. This adoption surge stems from advancements in AI research, the availability of big data, cost reductions, and efficiency improvements. Generative AI, a subset of AI, is extensively utilized in creative industries to enhance human creativity, automate repetitive tasks, and unlock new avenues for artistic expression and innovation. For example, in May 2022, the IBM Global AI Adoption Index 2022 report revealed that 35% of businesses surveyed reported using AI in their operations, a four-point increase from 2021. Additionally, 42-64% of businesses were exploring AI's potential, with 64% believing it will enhance business productivity and 42% expecting streamlined job processes. This year-on-year increase in AI adoption rates by organizations reflects the growing impact of AI on various sectors, including the creative industries.
Major companies are concentrating on developing advanced AI technologies like AI 3D workflows to optimize creative processes and streamline production pipelines. AI 3D workflows involve integrating AI technologies into the creation, manipulation, and optimization of 3D assets and environments. For instance, Adobe Inc., a prominent US-based software company, recently launched the integration of Firefly's generative AI capabilities with Substance 3D Sampler and Stager in March 2024. This integration aims to enhance 3D workflows for industrial designers, game developers, and VFX artists, enabling faster and more efficient creation of high-quality textures and environments. By automating iterative processes and generating multiple variations of textures, this innovative 3D design space within Adobe's Creative Cloud empowers users to navigate and design in 3D more effectively, fostering creativity and productivity.
in November 2022, Adobe Inc. solidified its position in the generative AI space by acquiring Rephrase.ai, an India-based generative AI-powered video creation platform. This strategic acquisition underscores Adobe's commitment to leveraging generative AI to enhance its video editing software, attracting new users and maintaining competitiveness in the dynamic content creation landscape. The integration of Rephrase.ai's capabilities with Adobe's existing suite of tools demonstrates the growing significance of generative AI in revolutionizing creative industries and enabling more efficient and innovative content creation processes.
Major companies operating in the generative AI in creative industries market are Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Sony Corporation, The Walt Disney Company, International Business Machines Corporation, Nvidia Corporation, Adobe Inc., Autodesk Inc., Unity Software Inc., Epic Games Inc., Wacom Co. Ltd., Pixar Animation Studios Inc., Moving Picture Company Inc., Lucasfilm Ltd., Framestore Limited, Double Negative LLC, Digital Domain Inc., Chaos Group, Foundry Inc., SideFX Inc., Industrial Light And Magic, Maxon Computer Inc.
North America was the largest region in the generative AI in creative industries market in 2023. The regions covered in the generative AI in creative industries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the generative AI in creative industries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The generative AI in creative industries market consists of sales of music composition assistance, image synthesis and manipulation, augmented reality art experiences, generative design in architecture, and character and creature generation. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Generative AI In Creative Industries Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on generative AI in creative industries market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for generative AI in creative industries? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The generative AI in creative industries market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.