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.
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.
Related Press Release@ AI In Media & Entertainment Market Report
AI In Media & Entertainment
Market Report Highlights
- 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
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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