Computational Creativity Market Is Projected To Reach USD 28,147 Million By 2027 With A CAGR Of 7.3%.
SUMMERY:
Market Research Future published a research report on “Computational
Creativity Market Research Report- Global Forecast 2027” – Market Analysis,
Scope, Stake, Progress, Trends and Forecast to 2027.
Market
Highlights:
Global
Computational Creativity Market is expected to reach USD 1.1497 Billion by
2026, registering a CAGR of 25.42% during the forecast period. In this report,
Market Research Future (MRFR) includes the segmentation and dynamics of the
global computational creativity market to offer a better glimpse of the coming
years.
Global
Computational Creativity Market has been segmented based on Technology,
Components, and Application.
Based on the
technology, the global computational
creativity market has been segmented into natural language processing
(NLP), machine learning and deep learning (ML and DL), and computer vision. The
machine learning and deep learning segment dominated the market in 2019.
Furthermore, the segment is anticipated to emerge as the fastest-growing
segment over the forecast period owing to the increasing adoption of machine
learning & deep learning algorithm for implementing various applications of
computational creativity. The growing demand for the improvement of the
creative process and efficiency of creative professionals contributes to the
rapid growth of the segment in the computational creativity market. The natural
language processing segment is a subfield of artificial intelligence that deals
with the interaction between computers and humans using natural language. The computer vision segment is a branch of
artificial intelligence that instruct computers to interpret and understand the
visual world.
Based on
components, the global computational creativity market has been segmented into
solutions and services. The service segment dominated the global computational
creativity market in 2019. Its higher growth rate can be attributed to the high
demand for services, particularly for consulting, support, and maintenance
services. The service segment is further sub-segmented into professional
services and managed services. The solution segment is also further divided
into software tools and platform.
Based on
application, the global computational creativity market has been segmented into
marketing and web designing, product designing, music composition, photography
and videography, high-end video gaming development, automated story generation,
and others. The others segment is further divided into training simulation and
R&D. The marketing and web designing segment dominated the market in 2019
due to the ability of computational creativity solutions to assist users to
build a creative website easily and quickly with a few simple clicks.
Additionally, the growing trends for branding, advertising, and building
effective marketing campaigns can be attributed to the use of computational
creativity solutions for marketing and web designing applications. The product designing
segment is expected to register the highest CAGR during the forecast period.
Product designing is the process of imagining, creating, and iterating products
that address the consumers' needs.
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COMPETITIVE
ANALYSIS
The Key Players in
the Global Computational Creativity Market are IBM (US), Google (US), Microsoft
(US), Adobe (US), AWS (US), Autodesk (US), The Grid (US), Canva (Australia), Jukedeck
(UK), Humtap (US), Amper Music (US), Automated Creative (UK), ScriptBook (Belgium), B12 (US), Hello
Games (UK), Aiva (Luxembourg), Object AI (Hong Kong), Firedrop (UK), OBVIOUS (France), Prisma Labs (US),
Cyanapse (UK), Lumen5 (Canada), Skylum (UK), Logojoy (Canada), and Runway (US).
REGIONAL
ANALYSIS
The regional
analysis for the computational creativity market has been done for North
America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
In 2019, North America held the largest market share. It is expected to witness
strong growth during the study period owing to increasing investments in
computational creativity technologies. The market in Asia-Pacific is expected
to account for the highest CAGR during the study period, primarily due to the
rising use of AI technology for developing creative content.
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Report Details @ https://www.marketresearchfuture.com/reports/computational-creativity-market-10404
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