The global AI in media & entertainment market size is expected to reach USD 99.48 billion by 2030, registering a CAGR of 26% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing popularity of virtual creation in the media & entertainment business, and its ability to create high-definition graphics and real-time virtual worlds, are driving the market forward.
Artificial intelligence 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, 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/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 is implemented in the Media & Entertainment industry for trading or marketing, including design, advertisements, and film promotion. Smart AI frameworks can create extensive marketing and advertising solutions. Using Artificial Intelligence, predictive analytics can perform marketing procedures faster. Marketing software driven by AI helps create promotional approaches, address audience goals, and make effective customer solutions. For Instance, ‘Alibaba Luban’ is an AI-based graphic design software available. It is a marvel that produces visual designs a hundred times faster than humans, which means it will create 8000 banners in just a second.
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Based on solution, the services segment is expected to contribute a significant revenue share over the forecast period. 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
Based on application, the sales and marketing segment accounted for the leading revenue share in 2022. AI is used for trading or marketing aspects, including design, advertising, and promotions in the media & entertainment fields. Smart AI work-frames can develop creative marketing and advertising solutions
The North American region is projected to dominate the market and offers significant opportunities for industry expansion as substantial investments are being made in AI projects and related R&D activities
AI in Media & Entertainment Solution Outlook (Revenue, USD Million, 2017 - 2030)
AI in Media & Entertainment Application Outlook (Revenue, USD Million, 2017 - 2030)
Fake Story Detection
Production Planning and Management
Sales and Marketing
Sports Automatic Productions
Broadcasting & Live Streaming
AI in Media & Entertainment Regional Outlook (Revenue, USD Million, 2017 - 2030)
Middle East and Africa
List of Key companies in the AI in media & entertainment Market
Amazon Web Services, Inc.
Gearhouse South Africa PTY Limited
International Business Machines Corporation
Matchroom Sport Ltd
Production Resource Group, L.L.C.
Valossa Labs Ltd.
PlaySight Interactive LTD
EVS Broadcast Equipment S.A.
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