Generative AI in Music Market Key Highlights:
- Market Size (2024): USD 575 Million
- Projected Market Size (2034): USD 8,295 Million
- CAGR (2023-2034): 30.6%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Generative AI in Music Market Definition
The generative AI in music market refers to the production, distribution, and use of this generative AI which is the process of employing artificial intelligence algorithms in an extensive collection of pre-existing music to analyze structures, styles, and patterns to allow them to generate, create, or alter music compositions independently. There is a high demand for these generative AI in music personalization & recommendation, sound synthesis & design, music style transfer & remixing, music arrangement, and automated music composition which driving the growth of the generative AI in music market.
- This generative AI uses machine learning models to analyze patterns in existing data sets and produce similar structures or styles.
The restraining factors of the market include the need to balance AI creativity with human input, listening and permission issues, copyright issues, and regulatory concerns which can hamper the growth of the market. The future scope of the market includes improving human creativity, increasing awareness, increasing adoption of AI in music production, expanding applications, and increasing demand for personalized music which will help the growth of generative AI in music market.
Generative AI in Music Market Segmentation:
By Type
- Transformers
- Variational Autoencoders (VAEs)
- Generative Adversarial Networks (GANs)
- Diffusion Models
- Others
By Application
- Music Production and Recording
- Film and Television
- Video Games and Interactive Entertainment
- Advertising and Marketing
- Music Education and Training
- Streaming Services and Music Platforms
- Others
Generative AI in Music Market Companies:
- Aiva Technologies SARL
- Boomy Corporation
- Ecrett Music
- Google LLC
- International Business Machines Corporation
- LANDR
- Meta
- Microsoft
- OpenAI
- Stability AI
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