Global AI in Media & Entertainment Market to Reach US$ 107.1 Billion by 2032, Stimulated by Increasing Digitalization of Media and Entertainment Sector

According to the latest report by IMARC Group, titled “AI In Media & Entertainment Market Report by Solution (Hardware/Equipment, Services), Application (Gaming, Fake Story Detection, Plagiarism Detection, Personalization, Production Planning and Management, Sales and Marketing, Talent Identification, Content Capture, Sports Automatic Productions), and Region 2024-2032,” the global AI in media & entertainment market size reached US$ 16.0 Billion in 2023. Artificial Intelligence (AI) in media and entertainment refers to the integration of advanced AI technologies in the creation, curation, distribution, and consumption of media content. AI systems in this domain employ machine learning (ML), natural language processing (NLP), and data analytics to automate and elevate numerous processes. These processes encompass content personalization, audience targeting, predictive analytics for viewer preferences, automated content creation, and optimized advertising strategies. AI has transformed how content is produced, making it more efficient and tailored to individual preferences. It plays a critical role in the analysis of consumer data, helping media companies to understand and predict audience behavior accurately. Moreover, AI in media and entertainment helps improve the quality of visual and audio content, offering sophisticated editing capabilities, and enabling the creation of realistic visual effects and animations.

Global AI in Media & Entertainment Market Trends:

The surging use of AI algorithms by media companies to analyze vast datasets and deliver highly customized content that resonates with individual preferences is primarily driving the market growth. In line with this, the growing demand for automating content creation and distribution processes to enhance efficiency, reduce operational costs, and allow for rapid scaling of content production is strengthening the market growth. Moreover, the expanding product utilization to provide valuable insights into consumer behavior and preferences, allowing media companies to create targeted marketing strategies and optimize content, is creating a favorable outlook for market expansion. At the same time, the rising integration of AI in advertising, streamlining ad placements, and maximizing revenue through targeted and effective campaigns is boosting the market growth. Concurrently, the rise in over-the-top (OTT) platforms and streaming services has further fueled the need for AI in managing large content libraries and offering personalized viewing experiences, aiding in market expansion. In addition to this, ongoing technological advancements in AI and ML, leading to innovative content creation and distribution methods are bolstering market growth. Furthermore, the convergence of AI with emerging technologies like virtual reality (VR) and augmented reality (AR) to create new immersive experiences is fostering market expansion. Looking forward, the market value is projected to reach US$ 107.1 Billion by 2032, expanding at a CAGR of 23.5% during 2024-2032.

Market Summary:

• Based on the solution, the market has been bifurcated into hardware/equipment and services. Between these, services dominate the market, holding the largest share.
• On the basis of the application, the market has been categorized as gaming, fake story detection, plagiarism detection, personalization, production planning and management, sales and marketing, talent identification, content capture, and sports automatic productions. At present, sales and marketing represents the biggest market segment.
• On a regional basis, the market has been segmented into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Currently, North America enjoys the leading position in the market.
• The competitive landscape of the market has also been examined, with some of the key players being Amazon Web Services Inc. (Amazon.com Inc.), EVS Broadcast Equipment SA, Gravity Media, GrayMeta Inc., Hudl, International Business Machines Corporation, LMG LLC (Entertainment Technology Partners), Move.ai Ltd., Pixellot, PlaySight Interactive Ltd., Spiideo AB, Veritone Inc., etc.

Report Coverage:

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