Audio/Visual Generative AI Market Size (2024 – 2030)

The Global Audio/Visual Generative AI Market was valued at $14.16 billion in 2023 and is projected to reach a market size of $132.59 billion by 2030. Over the forecast period of 2024-2030, market is projected to grow at a CAGR of 37.65%.

Visual and Audio Generative AI may be compared to a super-powered artist that creates whole new audio and visual content by studying previously created works. This kind of artificial intelligence looks for patterns in existing photos, movies, and music. It then utilises those patterns to create new sounds, write original songs, make original graphics, and even produce speech that sounds authentic. Although this technology is still in its infancy, it has the power to revolutionise a wide range of industries, including content development, gaming and film design, and accessibility solutions

Key Market Insights:

The global market for generative AI, which includes both audio and visual components, is expected to increase rapidly. Assuming a CAGR of 36.10%, estimates indicate a startling increase from $11.77 billion in 2023 to $256.72 billion by 2033.This suggests a market that is growing quickly and has a lot of possibilities for different competitors.
The media and entertainment sector dominates the generative AI market. It had a commanding share of more than 24.3% in 2023 and a strong CAGR of 36.4%. The industry's insatiable thirst for new material drives this domination, as generative AI enables artists to make realistic images, engaging characters, and immersive experiences while optimising procedures and increasing output.

North America's early embrace of this cutting-edge technology is seen in its present leadership position in the worldwide generative AI business. This implies that North American businesses may have a first-mover advantage in creating and implementing state-of-the-art audio/visual Generative AI systems.

Although the market for generative AI is expanding significantly, the picture creation area is growing at an exceptionally high rate. Experts forecast that picture creation would rise by around 148% annually in 2023, with a compound annual growth rate (CAGR) of 66% over the following five years. This quick increase reflects the enormous need for tools that can produce imaginative and realistic visuals on demand.

Global Audio/Visual Generative AI Market Drivers:

Content Personalisation is Being Revolutionised by Generative AI, Moving from Generic Ads to Highly Targeted Experiences

The era of universally applicable information and generic advertising is coming to an end. Customers of today need a personalised touch. Here, generative artificial intelligence (AI) becomes an effective tool for personalisation. Imagine using a music streaming service to create a playlist that isn't just based on songs you've listened to in the past but also on your mood, the outside temperature, or even forthcoming events. With the help of generative AI, which can analyse enormous volumes of user data, such as demographics, preferences, and historical behaviour, this degree of personalisation is possible. 73% of consumers anticipate that businesses will use their data to personalise their interactions. By leveraging that data to generate completely original audio and visual experiences that are personalised particularly for you, generative AI expands on this idea even further.

The market for audio/visual generative AI is being driven by widespread use across industries.

The market for audio/visual generative artificial intelligence is being significantly accelerated by an increase in industry-wide AI comfort. Forty percent of companies have either used AI solutions already or are actively preparing to do so. Tools for generative AI are well-positioned to benefit from this broad use of AI. Generative AI may be used in the media and entertainment industries to create customised movie trailers and music that appeals to audiences.AI may be used in marketing to create customised images and message for advertising campaigns that are based on the profiles of certain customers. Generative AI may be used by e-commerce platforms to generate unique product mock-ups or personalised product suggestions based on customer preferences. The market for audiovisual generative artificial intelligence is expanding significantly thanks to the combination of users' increasing familiarity with AI and generative tools' enormous potential.

Global Audio/Visual Generative AI Market Restraints and Challenges:

Although Audio/Visual Generative AI has promising opportunities, there are obstacles to overcome. Entry is hampered by the expensive prices and enormous volumes of data required to train these algorithms, particularly for smaller businesses. Due to the possibility of bias in training data producing discriminatory results, ethical issues are quite important. Uncertainty also surrounds copyright and ownership of work produced by AI. Because there is a lack of consistency among models, comparing and evaluating them is challenging, and it can be difficult to explain how they operate, which undermines confidence. The complexity is increased by technical constraints, the requirement for human monitoring to guarantee quality, and ethical considerations. It is imperative that Audio/Visual Generative AI overcome these obstacles by reducing bias, improving data efficiency, and creating standardised frameworks to realise its full potential.

Global Audio/Visual Generative AI Market Opportunities:

The potential for Audio/Visual Generative AI is abundant in the future. With the ability to generate personalised experiences for viewers and streamline workflows for content creation in areas like marketing and cinema, this technology has the potential to completely transform the way we produce and consume information. Additionally, it can help with accessibility, since technologies like improved text-to-speech and AI-powered picture captions may make a difference for those with impairments. However, nurturing completely new kinds of creative expression offers the most thrilling potential. Imagine working with AI to produce images that push the frontiers of art or compose music in a distinctive way. AI tutors may create personalised study programmes that are tailored to each student's needs, opening a world of possibilities for personalised learning and education.

AUDIO/VISUAL GENERATIVE AI MARKET REPORT COVERAGE:

Global Audio/Visual Generative AI Market Segmentation: By Application

• Content Creation

  • Audio and music generation

  • Video generation and editing

  • Virtual and augmented reality content

• Advertising and Marketing

  • Personalized advertisements

  • Video and audio advertisements

• Gaming

  • In-game content generation

  • Game environment and character design

• Film and Entertainment

  • Special effects

  • Script and dialogue generation

• Customer Service

  • AI-generated voices for virtual assistants

  • Chatbots with natural language processing capabilities

• Education and Training

  • Interactive learning modules

  • Virtual tutors and training simulations

• Others

Given its vast use and ongoing improvement, it is challenging to identify a single dominating application for generative AI; nonetheless, a few domains are seeing rapid growth. The creation of content, which includes anything from editing software to music production, is a key factor as it improves productivity and customises user experiences. The potential of generative AI to produce relevant adverts and interesting content is also being embraced by marketing and advertising. Beyond these well-known uses, there is a tonne of untapped potential in new fields like chatbots driven by AI for customer support and interactive teaching resources. This market sector promises a future full of creative applications in a variety of industries and thrives on ongoing study.

Global Audio/Visual Generative AI Market Segmentation: By End-User

• Individual Content Creators

• Media and Entertainment Companies

• Advertising Agencies

• Gaming Industry

• Corporate Sector

• Education Sector

• Others 

Media and entertainment corporations and individual content creators are in a close competition for the fastest-growing category in the global audio/visual generative AI market. Generative AI excels in three areas: efficiency improvements, personalisation tools, and novel approaches to content production, all of which the entertainment industry is eager to adopt. Media production and delivery are being revolutionised by this technology, which can be used for anything from creating soundtracks to customising trailers. Simultaneously, generative AI is becoming more accessible and cost-effective, enabling indie filmmakers and YouTubers to develop high-quality video without going over budget. The market is expanding significantly because to the democratisation of content generation, which puts it in the running for the top slot with more established media behemoths.

Global Audio/Visual Generative AI Market Segmentation: By Technology

• Natural Language Processing (NLP)

  • Text-to-speech

  • Speech recognition and generation

• Computer Vision

  • Image and video recognition

  • Video editing and enhancement

• Deep Learning and Machine Learning

  • Generative adversarial networks (GANs)

  • Recurrent neural networks (RNNs) for audio generation

Because of their interconnectedness and quick progress, it is difficult to identify a single leading technology in the global audio/visual generative artificial intelligence market; nonetheless, several sectors are witnessing notable growth. These models are trained using deep learning and machine learning, whereas Generative Adversarial Networks (GANs) are very skilled in producing realistic audiovisual material. Subsectors like text-to-speech and AI-powered video editing should also see significant developments. The interaction of different technologies, where advancement in one area spurs innovation in other areas, holds the key to this market's future.

Global Audio/Visual Generative AI Market Segmentation: By Deployment

• Cloud-based

• On-premises

In the global audio/visual generative AI market, cloud-based solutions are leading the way, outpacing on-premises deployments as the largest and fastest-growing sector. This change is a result of cloud platforms' scalability and affordability, which let users access the newest AI developments and modify resources without having to spend a lot of money on new gear. The future of generative AI is being shaped by the flexibility and accessibility of cloud-based solutions, even though on-premises deployment may be pertinent for certain data security requirements.

Global Audio/Visual Generative AI Market Segmentation: By Region

• North America 

• Asia-Pacific 

• Europe 

• South America 

• Middle East and Africa

North America leads the global market for audio/visual generative artificial intelligence (AI), using its strong AI foundation and concentration of large tech companies. Nonetheless, the Asia-Pacific area is anticipated to grow at the fastest rate because of its quickly expanding tech industry, rising internet penetration, and strong need for cutting-edge content production tools. Although they now represent smaller markets, Europe, South America, and the Middle East and Africa show potential for future growth as the use of generative AI continues to rise worldwide.

COVID-19 Impact Analysis on the Global Audio/Visual Generative AI Market:

The COVID-19 pandemic had a twofold effect on the audio/visual generative artificial intelligence market. On the one hand, lockdowns increased demand for remote content creation tools; generative AI for music, video editing, and image generation grew as creators looked for ways to work independently. The rise in screen time during lockdowns highlighted the need for engaging and personalised content, which increased the value of generative AI's user-tailored audio/visual experiences. Another factor was the growth of e-commerce, where generative AI was employed for dynamic ad creation and personalised product recommendations. On the other hand, the pandemic brought with it some difficulties.

Recent Trends and Developments in the Global Audio/Visual Generative AI Market:

There are plenty of innovative advancements in the audio/visual generative AI market. Written-to-video creation, in which AI models can produce videos from straightforward written descriptions, is one popular trend. Imagine using a limited word count to script a movie or create an instructional video. With AI producing audio explanations for pictures and videos and text-to-speech providing additional voice options, accessibility is also receiving greater attention. Major software firms are already incorporating generative AI into their already-existing creative tools, enabling designers and artists to utilise AI inside a recognisable workflow. Explainability is becoming more and more important as models become more complicated so that users can comprehend AI's operations and exercise greater creative control. The future lies in the combination of humans with AI, where AI helps with monotonous work and idea generation, freeing up human ingenuity for strategic decision making.

Key Players:

1. NVIDIA Corporation

2. Alphabet Inc.

3. Synthesia

4. Descript

5. Adobe

6. Pictory.ai

7. SAP

8. Meta

9. Runway AI, Inc.

10. Aiva Technologies