Artificial Intelligence (AI) in Media and Entertainment Market - Forecasts from 2024 to 2029

Artificial Intelligence (AI) in Media and Entertainment Market - Forecasts from 2024 to 2029

Artificial Intelligence (AI) in the media and entertainment market is expected to grow at a CAGR of 27.54%, reaching a market size of US$38.739 billion in 2029 from US$11.479 billion in 2024.

The application of artificial intelligence (AI) technology and software products in the media and entertainment market encompasses a range of sub-sectors, such as gaming, video production, content production, and other related fields. The media and entertainment sector's evolution and diversification are driving the use of AI software and applications for several tasks. These include the production of subtitles, personalizing media content for consumers, and the development of innovative editing tools and filters. Since the media and entertainment sector is just now beginning to use AI, this market will grow significantly throughout the forecast period.

Artificial Intelligence (AI) in media and entertainment Market Drivers:

Advancements in the gaming and animation sector are anticipated to drive the market growth

Due to better resolution and graphics, gaming, animation, and visual effects have grown rapidly over the years, resulting in the growth of the gaming industry and other such sectors worldwide. Moreover, there are several reasons why the animation and cartooning sector has increased, such as its rising exposure on numerous platforms such as YouTube, Netflix, and other online video streaming sites.

Additionally, this advancement is driven by a growing demand for gaming and animated products. AI-controlled technologies benefit these industries by enhancing body movements, replicating facial expressions and actions, and matching voices to characters in games like Call of Duty. Because of this, the expansion of AI within the media and entertainment sectors will be driven by increased content in terms of quantity produced, together with subsequent innovations across various sub-fields constituting it.

Artificial Intelligence (AI) in media and entertainment Market Geographical Outlook
North America is witnessing exponential growth during the forecast period

In AI technologies, North America has been dominated by several technological giants, renowned research institutions, and avant-garde start-ups. R&D done by these organizations enhances AI applications in the media and entertainment sector. In addition, North America provides amenable conditions for adopting and utilizing AI solutions owing to its robust digital infrastructure and high internet penetration rates.

Digital content can be produced, shared, and consumed using this infrastructure, enabling AI technologies to flourish. For instance, TIME and OpenAI announced their partnership in June 2024 to merge TIME’s esteemed journalism into OpenAI products like ChatGPT. Through the partnership, OpenAI can improve its products and give proper credit to sources by accessing TIME's vast archives. In exchange, TIME will have access to OpenAI's technology to create new goods and improve how news is delivered. The collaboration seeks to increase access to reliable and accurate information on a global scale.

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Report Coverage:

Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The Artificial Intelligence (AI) in media and entertainment market is segmented and analyzed as follows:

By Application

Gaming
Video Production
Plagiarism Detection
Personalization
Production Management
Others

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Italy
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Singapore
Indonesia
Others