Global Computational Creativity Market

Computational Creativity Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment Mode Sub-SegmentsOn-premise, and Cloud-based(Natural Language Processing (NLP), Machine Learning (ML), and Computer Vision), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45B2118 | Region: Global | Published Date: April, 2024
Pages: 196 | Tables: 62 | Figures: 75

Computational Creativity Market News

  • August 2023: In a surprising pass, IBM has received StreamSets and webMethods, Software AG's "exceptional iPaaS" (integration platform-as-a-provider) services, for $2.13 billion. This contradicts Software AG's current strategic cognizance on this generation, potentially impacting its destiny course. However, the deal blessings principal shareholder Silver Lake, which obtained a controlling stake in Software AG just months previous, valuing the complete company slightly better than the present-day sale fee.
  • In March 2022, the U.S.-based technology firm known as Microsoft acquired Nuance Communications for $19.7 billion. The acquisition is expected to help Microsoft accelerate its enterprise cloud strategy for healthcare and deliver new cloud AI capabilities across verticals, including healthcare, financial services, retail and telecommunications, according to Nuance Communications, a US-based software company, specializing in artificial intelligence (AI) and speech recognition.
  • In February 2021, Google Cloud announced a partnership with 20th Century Fox called Marilyn, ML. Marilyn can recognize objects and patterns in trailers to understand movie scenes.
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Computational Creativity Market size was valued at USD 977.78 million in 2022 and is poised to grow from USD 1056.49 million in 2023 to USD 1816.52 million by 2031, growing at a CAGR of 8.52% in the forecast period (2024-2032).

The aggressive environment of the Non-medical Information System market is marked by means of the presence of key players at the vanguard of innovation and technological improvements. Additionally, smaller, area of interest players and startups make contributions to marketplace diversity, driving innovation in precise programs. The aggressive dynamics contain continuous research and improvement, strategic partnerships, and acquisitions to decorate product portfolios and live ahead in a rapidly evolving marketplace.     'IBM Corporation', 'Adobe Inc.', 'Google LLC', 'Microsoft Corporation', 'NVIDIA Corporation', 'Autodesk Inc.', 'Jukin Media', 'Prisma Labs, Inc.', 'Runway ML', 'Amper Music', 'Aiva', 'Lumen5', 'Salesforce.com, Inc.', 'ScriptBook', 'Canva', 'DALL-E (OpenAI)', 'Artbreeder (DeepArt.io)', 'Refik Anadol Studio', 'AICAN (Art and AI)', 'Google's Magenta Studio'

The surge in demand for modern answers on the intersection of artificial intelligence and creative techniques. Advancements in machine learning and natural language processing stand out as number one catalysts, empowering computer systems to generate original and inventive content across various domain names. The growing want for creative solutions in industries together with advertising, layout, and enjoyment further fuels the market's boom. 

Rising Use of Artificial Intelligence:  The   evolving panorama on the intersection of synthetic intelligence and creative strategies. One distinguished fashion involves the growing integration of computational creativity in various industries past conventional sectors, which includes marketing and layout. The expansion of programs into fields like healthcare, training, and enjoyment indicates the versatility of AI-driven innovative solutions. Another fashion is the emphasis on explainable AI and moral concerns, addressing issues associated with transparency, bias, and accountability in AI-generated content.  

North America is likely to dominate the marketplace, frequently because of its early and substantial adoption of superior technology, presence of fundamental tech hubs, and strong funding in synthetic intelligence. The vicinity's revolutionary ecosystem and a high attention of tech-driven industries make contributions to its dominance in computational creativity. Additionally, a sizable wide variety of key market players and research institutions are primarily based in North America.

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Global Computational Creativity Market

Report ID: SQMIG45B2118

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