About Computational Creativity
Computational creativity deals with experimentation with the goal of finding innovative ideas and thoughts across different fields, such as art, literature, engineering, etc. It is applied to artificial intelligence (AI) for creating things that were once imagined impossible for computers, such as paintings, sculptures, and works of fiction. It is a tool that maximizes the creative potential of humans and simplifies the creative process. Moreover, the increasing investments and funding in Computational Creativity Startups are propelling the Global Computational Creativity Market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 27.4% |
The market is fragmented with numerous players. Growing adoption of computational creativity solutions for number applications in marketing and web designing, music composition, high-end video gaming development are contributing to the expansion of computational creativity market. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Computational Creativity market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), Google LLC (United States), Microsoft (United States), Prisma Labs, Inc.(India), Amazon, Inc.(United States), Autodesk, Inc.(United States), Canva (Australia) and Runway AI, Inc.(United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are WaveAI Inc. (United States) and Adobe Inc.(United States).
Segmentation Overview
AMA Research has segmented the market of Global Computational Creativity market by , Application (Marketing and Web Designing, Product Designing, Music Composition, Photography and Videography and Automated Story Generation) and Region.
On the basis of geography, the market of Computational Creativity has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Services, the sub-segment i.e. Professional Services will boost the Computational Creativity market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solutions, the sub-segment i.e. Software Tools will boost the Computational Creativity market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. On-Premises will boost the Computational Creativity market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Operating System, the sub-segment i.e. Linux will boost the Computational Creativity market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Usage of Computers Due To New Platforms and Software Allowing Consumers To Showcase Their Creative Pursuits
Market Growth Drivers:
Adoption of Computer-Based Creative Solutions, High Investments in Marketing by SMEs and Rapid Technological Advancements in AI (Artificial Intelligence)
Challenges:
The implication of Copyright Law
Restraints:
Slower Adoption of AI-Based Technology in Developing Economies
Opportunities:
Substantial Developments in the Computational Creativity Market and Increasing Demand for Automating Creative Tasks
Market Leaders and their expansionary development strategies
In October 2018, IBM Research team collaborated with Symirise, one of the world’s leading producers of fragrances and flavorings, to create an AI system called ‘Philyra’ that can create perfumes based on digital fragrance models.
May 2018, Jukedeck, a UK-based AI music startup and a key player of computational creativity market, used its musical AI to create the entire soundtrack for a new digital video series, ART + TECHNOLOGY launched in partnership with Bloomberg Media Group and Hyundai Motor Company.
Key Target Audience
Computational Creativity Manufacturers, Platform Providers, Potential Investors, Downstream Vendors and Government and Regulatory Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.