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AI Market in Media & Entertainment to Grow by USD 30.72 Billion (2024-2028) as Multimodal AI Adoption Rises; AI Impact on Market Trends Report – Technavio

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NEW YORK, Oct. 31, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global AI market in media and entertainment industry size is estimated to grow by USD 30.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  26.4% during the forecast period. Usage of multimodal AI in media and entertainment industry is driving market growth, with a trend towards utilization of blockchain. However, reliance on external sources of data to train ai models poses a challenge.Key market players include Agile Sports Technologies Inc., Amazon Web Services Inc., Autodesk Inc., AutomaticTV, EVS Broadcast Equipment S.A., Gravity Media, GrayMeta, Inc, International Business Machines Corp., LMG LLC, Move Ai Ltd, Pixellot, PlaySight Interactive Ltd., Production Resource Group LLC, Spiideo, Sportway AB, Synthesia Ltd., TAIT, valossa labs Oy, and Veritone Inc.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Technology (Machine learning, Computer vision, and Speech recognition), End-user (Media companies, Gaming industry, Advertising agencies, and Film production houses), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Agile Sports Technologies Inc., Amazon Web Services Inc., Autodesk Inc., AutomaticTV, EVS Broadcast Equipment S.A., Gravity Media, GrayMeta, Inc, International Business Machines Corp., LMG LLC, Move Ai Ltd, Pixellot, PlaySight Interactive Ltd., Production Resource Group LLC, Spiideo, Sportway AB, Synthesia Ltd., TAIT, valossa labs Oy, and Veritone Inc

Key Market Trends Fueling Growth

The integration of blockchain technology in the global AI market of media and entertainment industry is experiencing substantial growth. Driven by the necessity for heightened security and content authenticity, this sector is leveraging blockchain’s decentralized and immutable features. Notably, SHIB, an Ethereum-based digital asset family, collaborated in April 2024 to address content security and authenticity concerns using blockchain technology. This partnership aims to secure content from tampering and ensure its veracity. Blockchain technology also presents innovative distribution solutions. Its transparent and traceable transactions streamline the process, ensuring fair compensation for creators and secure content delivery. In an era plagued by digital piracy and unauthorized distribution, this is particularly significant. Moreover, blockchain facilitates new business models and revenue streams, such as content tokenization. This enables creators to issue digital tokens representing ownership or access rights, opening new monetization avenues. The media and entertainment industry’s collaboration with the digital asset ecosystem underscores its proactive approach to adopting blockchain technology. This adoption promises enhanced security, streamlined distribution, and innovative business opportunities, contributing to the industry’s growth and sustainability in the digital age. 

Artificial Intelligence (AI) is revolutionizing the Media and Entertainment Industry. In Film and Television, AI is used for script analysis, storyboarding, and budget management. AI-powered image recognition identifies objects and people in high-resolution camera footage for VFX and virtual creation. Social media platforms leverage AI for predictive analytics and talent discovery. In Music, AI assists with plagiarism detection and content creation. AI’s dialogue skills and speech recognition enhance voice recognition and game play. Sports broadcasts use AI for real-time virtual analysis and fan engagement. Unstructured data and machine learning enable AI to provide fake story recognition and production planning. AI’s natural language processing enhances on-demand streaming services and improves content creation workflows. Overall, AI’s impact on the Media and Entertainment Industry is significant, from content creation to fan engagement, and will continue to shape the future of this dynamic industry. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The global AI market in media and entertainment industry faces a significant challenge with the reliance on external data sources for training AI models. This issue came to light in November 2023 when a major American media organization filed a lawsuit against leading AI technology companies for unauthorized use of copyrighted content. The lawsuit highlights the growing tension over the exploitation of intellectual property without compensation or acknowledgement. The core challenge lies in the use of vast amounts of published material, such as articles and written works, to develop and refine AI models. These models, which power popular AI platforms, often utilize data scraped from various sources without explicit permission from content creators. This practice raises ethical and legal concerns, leading to an increase in copyright infringement claims. The implications of this reliance on external data sources are far-reaching. It poses a risk of substantial financial penalties and reputational damage for companies involved. Moreover, the accuracy and trustworthiness of AI-generated content can be compromised when models are trained on unauthorized or unverified data. In the media and entertainment industry, where authentic and reliable content is crucial, this issue is particularly problematic. To address this challenge, a balanced approach is necessary. Clear guidelines and ethical standards for data usage are essential to mitigate legal risks and ensure the integrity of AI-driven content. Respecting intellectual property rights while fostering innovation is crucial for the global AI market in media and entertainment industry.

Artificial Intelligence (AI) is revolutionizing the Media and Entertainment Industry with its ability to provide advanced solutions for various applications. Challenges such as Visual Recognition, Sentiment Analysis, Personality Insights, Tone Analysis, and Sports Analysis are being addressed by AI Algorithms. Hardware/Equipment for AI-Specific solutions are being developed for Live Broadcast, Gaming, and Sports Automatic Productions. AI is also transforming Video Production, Computer-Generated Graphics, and Visual Effects. Sales and Marketing teams use AI for Audience Insights, Voice Data, and Intelligent Home Assistants. OTT Platforms and Online Gaming Experience are enhanced with AI-Generated Live Footage and Hyper-Personalized Content. Pre-Production Assistance, Motion Capture, and Automated Sports Productions are other areas where AI technologies like ML are making a significant impact. Streaming Platforms, Connected Devices, and Real-Time Virtual Worlds are also being transformed by AI. AI is changing the game in Media and Entertainment, from content creation to consumption.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This ai market in media and entertainment industry report extensively covers market segmentation by

Technology 1.1 Machine learning1.2 Computer vision1.3 Speech recognitionEnd-user 2.1 Media companies2.2 Gaming industry2.3 Advertising agencies2.4 Film production housesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Machine learning-  The media and entertainment industry is leveraging artificial intelligence (AI) to enhance content creation, distribution, and consumer experience. AI-powered tools improve efficiency in video editing, special effects, and scriptwriting. Streaming platforms use AI algorithms for personalized content recommendations based on user preferences. AI chatbots provide customer support, reducing response time and improving user engagement. AI’s ability to analyze data and learn patterns benefits marketing strategies, audience targeting, and content monetization. Overall, AI is a valuable asset in the media and entertainment industry, driving innovation and growth.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

Artificial Intelligence (AI) and Machine Learning (ML) are revolutionizing the Media and Entertainment industry. In gaming, AI is used for gameplay, creating realistic opponents, and enhancing the user experience. Fake story recognition and plagiarism detection are essential for maintaining the integrity of content in the industry. AI and ML also play a significant role in production planning, optimizing workflows, and reducing costs. Talent discovery and scouting are now more efficient with AI-powered tools. Virtual creation allows for the production of high-definition graphics and real-time virtual worlds, enhancing the viewing experience. AI-generated live footage and sports analysis provide new opportunities for OTT platforms and online gaming experiences. Social media platforms use AI for content recommendation and natural language processing. The future of Media and Entertainment is AI-driven, offering endless possibilities for innovation.

Market Research Overview

Artificial Intelligence (AI) is revolutionizing the Media and Entertainment Industry with its advanced capabilities. AI technologies such as Machine Learning (ML), Natural Language Processing (NLP), and Deep Learning are being used in various applications. In the gaming industry, AI algorithms are used for gameplay, fake story recognition, plagiarism detection, and talent discovery. AI is also used in virtual creation, high-definition graphics, real-time virtual worlds, and sports analysis. OTT platforms and streaming services are utilizing AI for personalized content recommendations, audience insights, and voice data. AI-generated live footage, hyper-personalized content, and predictive analytics are transforming film and television production. In the music industry, AI is used for script analysis, storyboarding, and budget management. AI-specific hardware and computer-generated visuals are enhancing the online gaming experience. AI is also being used in sales and marketing, automated sports productions, and live streaming. The use of AI in the media and entertainment industry is expanding, from pre-production assistance to post-production, and from content creation to distribution.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyMachine LearningComputer VisionSpeech RecognitionEnd-userMedia CompaniesGaming IndustryAdvertising AgenciesFilm Production HousesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Universal Robots launches new service and repair center in India, elevating customer support

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BENGALURU, India, Nov. 25, 2024 /PRNewswire/ — Universal Robots, the Danish collaborative robot (cobot) company, has announced it will open a brand-new service and repair center exclusively for its India customers. Located in Unit No. 107, 1st Floor Brigade Senate 2, Hebbal – 560094, home to Universal Robots’ local headquarters, the center will officially open its doors on November 25.

This new facility is dedicatedly designed to address the rising demand for automation solutions across India. It aims to provide existing and new customers with faster response times and cost-effective service solutions, including refurbishments and repairs for the complete range of cobots in Universal Robots’ extensive portfolio.

India is a vital market for UR, and we see tremendous potential for cobot automation in Indian manufacturing, particularly with the automation market projected to double by 2029,” states Anurag Thakur, VP of Services at Universal Robots. He adds, “Our new service, repair, and training center represents a strategic investment, underscoring our commitment to the Indian market. This center will enable us to offer faster, localized support, helping our customers reduce downtime and boost productivity to fully leverage their cobots.”

The center in Bengaluru is only one part of the refined UR Care Service Plans which offers customers a complete suite of services, including 24/7 priority access to support, advanced fleet management through digital support platforms, certified training programs and proactive maintenance to keep cobots running smoothly with minimal downtime.

“We see great opportunities for cobot automation in India as part of automation within a wide spectrum of industries, and for research and use in education. Availability of the latest technologies, safety compliance standards, ease of deployment and ease of use makes the UR portfolio a perfect fit for the market,” says Virupakshappa Hovale, Regional Director for South Asia at Universal Robots. He adds, “Our new service, repair, and training center and associated infrastructure positions UR uniquely to enhance customer satisfaction with focus on local value-add.”

See images from  the new service and repair center in Bengaluru, India, here.

Read more about UR Care here.

About Universal Robots

Universal Robots is a global leader in collaborative robotics (cobots), used across a wide range of industries. Our mission is simple: Automation for anyone. Anywhere. With over 90,000 cobots sold worldwide, our user-friendly platform is supported by intuitive PolyScope software, award-winning training, comprehensive services, and the world’s largest cobot ecosystem, delivering innovation and choice to our customers.

Universal Robots is part of Teradyne Robotics, a division of Teradyne (NASDAQ: TER), a leading supplier of automatic test equipment and advanced robotics technology.

For more information, please visit www.universal-robots.com.

Logo – https://mma.prnewswire.com/media/2514373/Universal_Robots_Logo.jpg

 

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Analytic Partners Recognised as a Leader in Inaugural Gartner® Magic Quadrant™ for Marketing Mix Modelling Solutions

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Analytic Partners Placed Highest for Ability to Execute and Furthest for Completeness of Vision

MIAMI, Nov. 25, 2024 /PRNewswire/ — Analytic Partners, the Commercial Intelligence company for insights-driven brands, today announced it has been recognised as a Leader in the inaugural Gartner® Magic Quadrant™ for Marketing Mix Modelling (MMM) Solutions. Analytic Partners is positioned highest in Ability to Execute and furthest in Completeness of Vision.

“We believe our position as a Leader underscores our dedication to our customers and our ongoing commitment to innovation,” said Nancy Smith, President and CEO of Analytic Partners. “We appreciate the extensive research Gartner has done in guiding our industry forward. This recognition, we feel, highlights the critical role Commercial Analytics plays in delivering forward-looking decision-making for lasting, meaningful growth.”  

Elevating Insights Beyond MMM and MTA

Analytic Partners’ longstanding commitment to deliver insights and solutions extends well beyond Multi-Touch Attribution (MTA) and MMM. Analytic Partners’ Commercial Analytics solution integrates all factors driving performance outcomes – including finance, supply chain and other enterprise functions. This holistic, company-wide approach provides a forward-looking decision-making framework that brands rely on to measure both short-term and long-term impact, ensuring sustained growth.

GPS Enterprise: A Powerful Platform for Enabling Growth

Powered by the GPS Enterprise platform, Commercial Analytics combines data science and technology to deliver actionable insights that enable brands to make proactive, forward-looking commercial decisions. This end-to-end platform, informed by ROI Genome intelligence, ensures streamlined data management, application of advanced analytics and multi-objective optimisations to help brands meet their growth goals.

Recognition Extends to Gartner Critical Capabilities Report for MMM Solutions

The recognition also extends beyond the Magic Quadrant™. In the accompanying Critical Capabilities report for MMM Solutions, Analytic Partners received the highest scores across all eight Use Cases, including:

Highest score in Complex Marketing AnalyticsHighest score in Business Scenario PlanningHighest score in Data ManagementHighest score in Media Optimisation

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high, and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables businesses to get the most from market analysis in alignment with their unique business and technology needs.

To read the full Magic Quadrant™ report, access a complimentary copy here.  

Gartner, Magic Quadrant for Marketing Mix Modelling Solutions, Matt Wakeman, David Walters, Joseph Enever, Weicong Zhao, 19 November 2024

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s Research & Advisory organisation and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Analytic Partners  

Analytic Partners is the leader in Commercial Analytics, providing adaptive solutions for deeper business understanding, right-time planning and optimisation for marketing and beyond. We turn data into expertise so our customers can create powerful connections with their customers and achieve commercial success. For more information, visit analyticpartners.com.

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Travel Hacks to Unlock the Best Deals on Traveloka Black Friday

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Buy 1 Get 1 deals, and more during Traveloka Black Friday—stay tuned for more exciting campaigns this December and year-end!

SINGAPORE, Nov. 25, 2024 /PRNewswire/ — Traveloka, Southeast Asia’s leading travel platform, is thrilled to kick off its highly anticipated Black Friday campaign, running from November 25 to December 1.

Designed to meet the rising demand for festive season travel, the campaign features up to 30% discounts, Buy 1 Get 1 Free deals, and daily coupons worth up to 100 SGD, making holiday dreams more accessible than ever.

Make the most of Traveloka Black Friday with these simple tips:

Activate Price Alerts for the Best Deals

Traveloka’s Price Alerts tool tracks ticket and hotel price changes automatically, helping you grab the best deals without constant checking. To set it up, open the Traveloka app, navigate to the “Price Alerts” section, select your destination and dates, and input your preferred budget.

Choose Flexible Options

Traveloka offers flexibility with its Refundable filter, perfect for those who need adaptable plans, allowing easy cancellations. Enjoy features like easy reschedule, multiple payment methods, and other flexible options that ensure your holiday plans remain safe, comfortable, and stress-free.

Pick the Perfect Moment to Hunt for Deals

Timing is key! Here’s how to make the most of it:

Flash Hour Sale (November 25 to December 1): Twice daily, from 11:00 AM to 2:00 PM and 7:00 PM to 10:00 PM

Unlock Big Savings with Exclusive Coupon Codes on Traveloka Black Friday

Get ready to save like never before with Traveloka Black Friday! Use exclusive coupon codes to score unbeatable deals on flights, hotels, and more. Whether you’re planning a tropical escape to Bali, a cultural adventure in Vietnam or Bangkok, a vibrant city trip to Singapore or Hong Kong SAR, or even a getaway to Japan, Korea, Taiwan region, or Australia, the possibilities are endless. Enjoy discounts of up to SGD 100 on Singapore Airlines flights, this is your chance to explore the world without overspending.

Don’t wait—download the Traveloka app today, ensure it’s updated, and turn your dream holiday into reality! Visit the official Traveloka website or follow us on Instagram, Facebook, and X for more detailed information about Black Friday Sale.

About Traveloka

Traveloka is Southeast Asia’s leading travel platform, empowering consumers to explore, book, and enjoy a wide range of travel products. The platform offers extensive transportation options, including flights, buses, trains, car rentals, and airport transfers. Traveloka’s accommodation offerings are equally broad, encompassing hotels, apartments, guest houses, homestays, resorts, and villas. Additionally, the platform enhances the travel experience by offering cruise packages and access to various local attractions, such as theme parks, museums, day tours, and more.

Founded in Indonesia in 2012, Traveloka has expanded its operations to Thailand, Vietnam, Singapore, Malaysia, the Philippines, and Australia. The company is committed to providing exceptional customer service with 24/7 support available in local languages and acceptance of over 40 payment methods. With nearly 140 million app downloads and nearly 50 million monthly active users, Traveloka stands as one of the most popular travel apps in the region. For more information, please visit Traveloka.

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