AI powers up media,entertainment: Market to explode by 2028

The latest report published by IMARC Group, titled “AI In Media & Entertainment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on AI In Media & Entertainment Market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global AI in media & entertainment market size reached US$ 12.64 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 53.32 Billion by 2028, exhibiting a growth rate (CAGR) of 26.71% during 2023-2028.

AI in Media and Entertainment refers to the integration of Artificial Intelligence technologies within the industry to enhance content creation, distribution, and audience engagement. It encompasses various applications such as content recommendation algorithms, predictive analytics for audience preferences, and automated content creation tools. AI enables personalized content experiences, optimizing user engagement on streaming platforms and social media. In video production, AI is utilized for video editing, image recognition, and animation. Natural Language Processing (NLP) facilitates chatbots and voice-activated interfaces for improved viewer interaction. Overall, AI transforms the Media and Entertainment sector by automating processes, analyzing vast datasets for insights, and delivering tailored content experiences to meet the evolving demands of audiences.

Market Trends:
The global market is primarily driven by the increasing digital content consumption and the need for personalized experiences. Furthermore, the rise of data analytics and machine learning in audience insights enables content creators and distributors to understand viewer preferences, optimizing content creation and distribution strategies. AI-driven predictive analytics contribute to more informed decision-making in content development and marketing. Moreover, the integration of AI in content creation is a significant driver. Automated editing tools, image and speech recognition, and natural language processing enhance the efficiency of production processes, reducing manual labor and costs while improving the quality of output. The growth of virtual assistants and chatbots utilizing AI-driven Natural Language Processing (NLP) is transforming audience engagement. Media and entertainment platforms deploy chatbots for customer support, interactive storytelling, and personalized interactions, enhancing user experiences and increasing brand loyalty. Besides, AI’s role in enhancing virtual and augmented reality experiences is a driving factor. AI algorithms contribute to realistic simulations, personalized AR experiences, and improved visual effects in gaming and immersive media. The global expansion of streaming services and the need for content localization further amplify the demand for AI applications. Automated language translation, voice dubbing, and content adaptation are facilitated by AI, catering to diverse audiences and markets.

Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• 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.

AI In Media & Entertainment Market Segmentation:

Our report has categorized the market based on region, solution and application.

Breakup by Application:

• Gaming
• Fake Story Detection
• Plagiarism Detection
• Personalization
• Production Planning and Management
• Sales and Marketing
• Talent Identification
• Content Capture
• Sports Automatic Productions

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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