The latest report published by IMARC Group, titled “AI In Media & Entertainment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on AI In Media & Entertainment Market Report. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global AI in media & entertainment market size reached US$ 16.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 107.1 Billion by 2032, exhibiting a growth rate (CAGR) of 23.5% during 2024-2032.
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Factors Affecting the Growth of the AI In Media & Entertainment Industry:
- Enhanced User Experience and Personalization:
AI algorithms are capable of analyzing vast amounts of user data, including viewing habits, preferences, and feedback, to provide tailored content recommendations. This personalization improves the user experience and increases viewer engagement and loyalty. Streaming services, including Netflix and Spotify use AI to recommend movies, shows, and music based on individual user preferences, leading to more time spent on their platforms. The customization extends beyond content recommendations to personalized advertising, where AI targets ads based on user behavior, increasing the effectiveness of marketing campaigns.
- Efficiency in Content Creation and Management:
AI significantly contributes to the efficiency of content creation and management in the media and entertainment sector. The technology aids in automating repetitive tasks such as editing, sorting, and categorizing content, freeing up human resources for more creative tasks. AI-driven tools can quickly analyze scripts to predict audience reception, assist in visual effects creation, and even generate news articles or music compositions. This automation leads to a reduction in production times and costs while maintaining high-quality standards. Additionally, AI can manage vast content libraries, making it easier to retrieve and repurpose existing content.
- Advancements in AI Technology:
Continuous advancements in AI technology itself are a significant driver of its adoption in the media and entertainment industry. Improvements in machine learning algorithms, natural language processing, and computer vision enable more sophisticated applications of AI. AI can now generate realistic deepfake videos or automate the process of colorizing black and white films, tasks that were previously impossible or highly labor-intensive. These technological advancements create new possibilities for content creation and distribution and help in tackling challenges such as piracy and copyright infringement through advanced detection methods.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Amazon Web Services Inc. (Amazon.com Inc.)
- EVS Broadcast Equipment SA
- Gravity Media
- GrayMeta Inc.
- Hudl
- International Business Machines Corporation
- LMG LLC (Entertainment Technology Partners)
- ai Ltd.
- Pixellot
- PlaySight Interactive Ltd.
- Spiideo AB
- Veritone Inc.
AI In Media & Entertainment Market Report Segmentation:
By Solution:
- Hardware/Equipment
- Services
Services represented the largest segment by solution in the AI in Media & Entertainment market due to the increasing demand for AI-powered solutions that require specialized support and maintenance.
By Application:
- Gaming
- Fake Story Detection
- Plagiarism Detection
- Personalization
- Production Planning and Management
- Sales and Marketing
- Talent Identification
- Content Capture
- Sports Automatic Productions
Sales and marketing represented the largest segment in the AI in media & entertainment market, driven by the growing need for personalized marketing strategies and customer insights using AI technologies.
Regional Insights:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
North America represented the largest segment by region in the AI in Media & Entertainment market, attributed to the high adoption of advanced technologies and the presence of key market players in this region.
AI In Media & Entertainment Market Trends:
AI is instrumental in the fight against digital piracy and in protecting intellectual property rights within the media and entertainment sector. AI systems can monitor the internet for unauthorized content distribution and take swift action. AI can also aid in digital rights management by ensuring that content is accessed only by authorized users and under the right conditions. This helps in safeguarding revenue streams and ensures that creators and rights holders are fairly compensated for their work. The enhanced security provided by AI is crucial in maintaining the integrity of the industry and encouraging investment in new content creation.
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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