The AI In Media And Entertainment Global Market Report 2023 by The Business Research Company, provides AI in media and entertainment market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s AI In Media And Entertainment Global Market Report 2023, the market size is expected to grow from $10.74 billion in 2022 to $13.72 billion in 2023 at a compound annual growth rate (CAGR) of 27.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the AI in media & entertainment market is expected to grow to $34.86 billion in 2027 at a CAGR of 26.3%.
The spike in popularity of OTT platforms and growth in online game streaming are expected to propel AI in media and entertainment market. The presence of subscribers on over-the-top (OTT) platforms is growing due to improved networks, more robust internet connectivity, and multimedia service-capable mobiles. Recently, the market has also shown growth in the online gaming industry due to an array of factors such as increased penetration of affordable internet, access to online games, and large-scale development in the gaming industry. This increasing demand for OTT platforms and online gaming has boosted the utilization of AI in gaming and OTT to deliver a realistic gaming and virtual experience for players and viewers on a virtual platform.
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The AI in media and entertainment market is segmented:
1) By Solution: Hardware/Equipment, Services
2) By Product: Simulation FX, Animation, Modelling, Matte Painting, Compositing
3) By Application: Gaming, Fake Story Detection, Plagiarism Detection, Personalization, Production Planning & Management, Sales and Marketing, Talent Identification, Content Capture, Sports Automatic Productions
Advancement in implementing cloud-based applications and services is a key trend gaining popularity in AI in the media and entertainment market. Major market players in the industry are implementing cloud-based applications and services to grow enhancements in the sector and gain a competitive edge in the market. For instance, in May 2021, Tata Consultancy Services (TCS), an India-based information technology company, launched an intelligent cloud-based subscription solution for media companies to improve the customer experience and increase revenue. TCS’ intelligent subscription solution uses SAP business technology by leveraging the cloud, artificial intelligence, and machine learning to personalize content duration and offer recommendations based on user profiles, preferences, and previous subscriptions.
Top Major Players
Amazon Web Services Inc.,
Veritone Inc.,
Gravity Media,
GrayMeta Inc.,
International Business Machines Corp
The AI in media and entertainment market report table of contents includes:
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List Of Tables :
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global AI In Media & Entertainment Market, Segmentation By Solution, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global AI In Media & Entertainment Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global AI In Media & Entertainment Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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Table 46: Amazon Web Services Inc. Financial Performance
Table 47: Veritone Inc. Financial Performance
Table 48: Gravity Media Financial Performance
Table 49: GrayMeta Inc. Financial Performance
Table 50: International Business Machines Corp. Financial Performance
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