Top Emerging Trends Of AI In Media & Entertainment Market Progress Forecast 2030 |Grand View Research, Inc.

Posted by Mrudula Anil Karmarkar on July 24th, 2023

San Francisco, 24 July 2023: The ReportAI In Media & Entertainment Market Size, Share & Trends Analysis Report By Solution (Hardware/Equipment, Services), By Application (Gaming, Personalization), And Segment Forecasts, 2022 – 2030

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.

Also, favorable government initiatives are expected to impact industry growth positively. AI systems are used to recognize objects and behaviors in sporting events. It can also use drone footage to provide broadcasts that include engaging material and in-depth sports analysis. For example, in a football match, AI-generated live footage may capture the adrenaline-fueled action and the players' and fans' responses after each score. Visuals used in the live broadcast of a match should contribute to the construction of an engaging story. Companies use AI to create more tailored services for users by endorsing personalized content following their tastes when users browse a video site and robustness for users with varying Internet speeds and bandwidths.

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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

For instance, a prominent platform, Netflix has implemented AI technology aiming to create a superior personalized experience for its subscribed consumers. This AI-empowered system will automatically accomplish several machine learning pipelines that offer shows/movies/program recommendations. The media and entertainment business is witnessing unparalleled disruption. From rapid adoption of connected devices and sensitive expectations from customers to ongoing competition from internet video streaming providers and social media, several powerful forces are shapeshifting the media and entertainment industry landscape.

AI In Media & Entertainment Market Report Scope

List of Key Players in Artificial Intelligence (AI) In Media & Entertainment Market

• Amazon Web Services, Inc.
• EMG
• Gearhouse South Africa Pty. Ltd.
• Gravity Media
• GrayMeta
• International Business Machines Corp.
• LMG, LLC
• Matchroom Sport Ltd.
• Production Resource Group, L.L.C.
• Synthesia Ltd.
• TAIT
• Valossa Labs Ltd.
• Veritone, Inc.
• Pixellot
• PlaySight Interactive Ltd.

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