Overview and Scope
Computational creativity refers to the interdisciplinary field that explores the use of computational methods and techniques to simulate, enhance, or emulate human creativity. The goal of computational creativity is to build systems that can create artifacts that are original and innovative, similar to the creative process in humans.
Sizing and Forecast
The computational creativity market size has grown exponentially in recent years. It will grow from $0.82 billion in 2023 to $1.03 billion in 2024 at a compound annual growth rate (CAGR) of 26.5%. The growth in the historic period can be attributed to increasing complexity of medical coding, growing healthcare data volume, increasing demand for accuracy and compliance, rise of big data analytics, increasing need for faster billing cycles.
The computational creativity market size is expected to see exponential growth in the next few years. It will grow to $2.57 billion in 2028 at a compound annual growth rate (CAGR) of 25.7%. The growth in the forecast period can be attributed to increasing integration with electronic health records (ehrs), increased focus on data security, increasing expansion of telemedicine, rising healthcare costs, increasing patient-centric care initiatives. Major trends in the forecast period include expansion in global markets, user experience and customization, real-time auditing and feedback.
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Segmentation & Regional Insights
The computational creativity market covered in this report is segmented –
1) By Component: Solution, Service
2) By Deployment Mode: Cloud, On-premise
3) By Application: Product Designing, Marketing And Web Designing, Photography And Videography, Music Composition, Automated Story Generation, High-End Video Gaming Development, Other Applications
North America was the largest region in the computational creativity market in 2023. The regions covered in the computational creativity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in the adoption of computer-based creative solutions is expected to propel the growth of the computational creativity market going forward. Computer-based creative solutions refer to innovative applications and technologies that harness computer power, artificial intelligence, and algorithms to generate, enhance, or assist in various creative processes across diverse domains. Computer-based creative solutions play an important role in computational creativity by leveraging algorithms and data to generate innovative and artistic outputs, expanding the possibilities of human-machine collaboration in creative expression. For instance, in May 2022, according to The International Business Machines Corporation (IBM), a US-based technology company, 35% of businesses worldwide used artificial intelligence (AI) in 2022, which is an increase of 4% from 2021. Therefore, the increase in the adoption of computer-based creative solutions is driving the growth of the computational creativity market.
Key Industry Players
Major companies operating in the computational creativity market report are Google Inc., Microsoft Corporation, Sony Corporation, Amazon Web Services, Intel Corporation, IBM Corporation, NVIDIA Corporation, Adobe Inc., Autodesk Inc., Canva Inc., Unity Software Inc., OpenAI, Jukin Media, Prisma Labs, EyeEm, Pelican Imaging Corporation, Amper Music Inc., Refik Anadol Studio, DeepArt.io, ScriptBook, Automated Creative, A Hundred Years, Runway ML, Aiva, Artomatix, PaintsChainer, Lumen5
The computational creativity market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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