Artificial Intelligence (AI) in Music Market - Forecasts from 2024 to 2029

Artificial Intelligence (AI) in Music Market - Forecasts from 2024 to 2029

Artificial intelligence (AI) in music market is expected to grow at a CAGR of 16.28%, reaching a market size of US$3.201 billion in 2029 from US$1.489 billion in 2024.

In music, AI implies that artificial intelligence software applications have been integrated with music to facilitate the process of composing, mixing, and personalizing tracks. The application of AI software in music production processes has enabled music producers and artists to create new sounds and tunes. Some of the major players in the AI music market include Landr, Amper Music, Izotope, and Brain.fm, Shazam, Splash, and Aiva Technologies. As a result, many musicians are adopting AI software to change their music composition style and individual listen playlists on streaming services where they produce or perform their songs. In this way, numerous music software applications have been developed to increase international music market consumption and the range of products offered by musicians.

The use of state-of-the-art music production tools and smart streaming services powered by artificial intelligence is driving the rapid expansion of the musical business into a new frontier. Organizations are investing in AI so that they can develop advanced algorithms capable of creating new songs, creating personalized soundtracks, or aiding music education. Additionally, another factor that adds to this growth is the expanded use of AI technology in gadgets like smart speakers and mobile phones, allowing many people to easily access AI-infused music apps.

Artificial Intelligence (AI) in Music Market Drivers:

Advancement in AI software and technology is anticipated to increase the demand

Properties of AI software are widely used in many industries, including the music industry, due to continuous evolution and development. These developments have opened new avenues for music composition in the context of AI software. One such technique is riffusion, which is creating music using AI computer vision rather than voice and sound recognition software. Riffusion is a technique that allows soundtracks to be created by utilizing the visual cues connected to different notes used in various musical genres. The expansion of AI in the music market is expected to be driven by major factors over the forecast period. These factors include increased research and development related to AI applications, leading to new music production methods, as well as the widespread increase in the consumption of music streaming services.

Artificial Intelligence (AI) in Music Market Geographical Outlook
Asia Pacific is witnessing exponential growth during the forecast period

Asia Pacific is experiencing significant growth in their media and entertainment industry and is witnessing high levels of music consumption across consumers and other media platforms. This has driven the demand for more efficient and effective AI solutions for the music industry. This, in turn, has spurred investment in various AI applications that can be employed across various activities in the music industry. For instance, an AI-assisted music technology software, Beatoven.ai, is provided in India, which helps generate original music scores for various YouTube channels, wedding videography firms, and marketing agencies. In addition to this, the music industries of South Korea, Japan, China, and India are expanding rapidly.

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

By Application

Personalization
Music Composition
Audio Mixing

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