AI in Media & Entertainment Market will register a CAGR of 26% over the period 2022-2032
AI in the media and entertainment market
AI in Media and Entertainment Market 2022 Research, Segmentation, Major Players Analysis and Forecast to 2032
NEWARK, NEWARK, UNITED STATES, June 22, 2022 /EINPresswire.com/ — The global market for AI in media and entertainment is valued at US$10.4 billion in 2021 and is projected to reach 13.6 by 2022 raise billions of dollars. The market is expected to bring in USD 132.16 billion by 2032, registering a CAGR of 26% over the forecast period of 2022-2032. The expansion of the market is attributed to the increasing viewership of online content and increasing Internet penetration in various developing countries.
Additionally, growing applications in the sales and marketing industry is another prominent factor enriching the industry. Additionally, the utility of AI in media and entertainment for personalization and sports automation productions is expected to provide significant opportunities for expansion in the industry over the forecast period.
On the contrary, due to the numerous advantages and increasing trends, this industry also brings some shortcomings that inhibit the market growth. These aspects include the risk of customer privacy and a shortage of skilled professionals in the AI industry. In addition, the maintenance costs and the complicity of the process act as outstanding growth-inhibiting factors.
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Important insights from the market study
– By solution, AI in media and entertainment services is expected to account for 59.2% of revenue in 2022
– By application, sales and marketing segment to achieve 21.7% revenue share
– The North American market is expected to secure $65 billion while growing at a CAGR of 24.2%.
– Asia Pacific is projected to register a CAGR of 26.8% during the forecast period of 2022 to 2032
– The global AI market in media and entertainment is projected to expand 10x from 2022 to 2032
Major players in the global AI in Media & Entertainment market include 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, LLC, Synthesia Ltd., TAIT, Valossa Labs Ltd., Veritone, Inc., Pixellot, PlaySight Interactive Ltd ., AISportsWatch GmbH, Spiideo, Sport Way AB, EVS Broadcast Equipment SA, Hudl, Move.ai, AutomaticTV, among others. Some recent player developments include:
In May 2022, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company, announced the general availability of Amazon Elastic Compute Cloud (Amazon EC2) C7g instances, the next generation of compute-optimized instances powered by AWS – developed Graviton3 processors.
In May 2022, Taboola, a global leader in recommendations for the open web that helps people discover things they might like, today announced it has entered into a definitive agreement to acquire Gravity R&D, a leader in personalization technology, the was founded in data science.
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More valuable insights available
FMI presents in its new offering an unbiased analysis of the global AI in media and entertainment market, presenting historical market data (2017-2021) and forecast statistics for the period 2022-2032.
Key segments covered in the AI in Media & Entertainment survey
AI in Media & Entertainment Market by Solution:
AI in media and entertainment hardware/equipment
AI in media and entertainment AI in media and entertainment services
AI in Media & Entertainment Market by Application:
AI in media and entertainment in detecting fake stories
AI in media and entertainment for plagiarism detection
AI in media & entertainment in personalization
AI in Media & Entertainment in Production Planning & Management
AI in Media & Entertainment in Sales & Marketing
AI in media and entertainment in talent identification
AI in media and entertainment in content capture
AI in media and entertainment in automatic sports productions
AI in Media & Entertainment Market by Region:
North America AI in the media and entertainment market
Latin American AI in the media and entertainment market
Europe AI in the media and entertainment market
AI in Asia Pacific in the media and entertainment market
AI in the Middle East and Africa in the media and entertainment market
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