NEW YORK, Nov. 19, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global stock music market size is estimated to grow by USD 650.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.09% during the forecast period. Rising adoption of subscription model is driving market growth, with a trend towards expanding variety of stock music. However, lack of ownership of streamed music and issues associated with integration poses a challenge.Key market players include Addictive Tracks Ltd., Adobe Inc., Artlist Ltd., Audio Network Ltd., Bensound, Envato Pty Ltd., Epidemic Sound AB, Filmstro Ltd., Footage Firm Inc., HookSounds, Marmoset LLC, Music Vine Ltd., MusicRevolution LLC, NEO Sounds Ltd., Pixabay GmbH, Shutterstock Inc., Smartsound LLC, SoundCloud Global Ltd. And Co. KG, The License lab LLC, and Trad Ventures LLC.

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Key Market Trends Fueling Growth

The Stock Music Market is experiencing significant trends driven by millennials and technology. Social media and authenticity are key factors, with music libraries in high demand for content creators in TV, films, advertisements, video games, corporate production, and entertainment business. Brands like Coca-Cola and Budweiser use stock music for brand anthems and advertising material. Technology enables localization, reaching affluent consumers with original music and cultural change agents, from touring musicians to local musicians. Stock music producers offer licenses, attribution, and exploitable rights to market participants. Premiumbeat, Magazines, Newspapers, and streaming services are integral parts of this market. Editing tools and platforms cater to professionals in the gig economy, offering genres and styles for multimedia content, instore activations, and digital efforts. Globalization unifies approach and platform integration, with digital advertising, online marketing, podcasting, and broadcasting driving growth in the Prague-based industry. Media spending on radio, internet, TV, and stock content continues to rise, making it an exciting space for businesses and creators alike. 

The stock music market experiences significant demand due to its extensive usage as background music across various platforms. RF (Royalty-Free) music tracks are commonly employed in TV programs, corporate videos, on-hold productions, and websites. YouTube, a leading video streaming service, is a major consumer of RF music for user-generated content. Corporate clients utilize RF music for producing promotional videos and presentations, enhancing their marketing efforts by adding suitable background scores. 

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Market Challenges

In today’s business world, stock music market faces various challenges from millennials’ preferences, technology advancements, and social media trends. Authenticity is key as content creators in TV, films, advertisements, video games, corporate production, and entertainment businesses seek original music for their brand assets. Licenses, attribution, and exploitable rights are crucial for market participants like Premiumbeat, Coca-Cola, Budweiser, and others, who use music as branding material. Technology and social media have disrupted traditional music industries, with localization and user base expansion through streaming services and digital advertising. Cultural change agents like touring musicians and local musicians also impact the market. Platform integration, unified approach, and multimedia content creation are essential for businesses in the gig economy. Genres and styles continue to evolve, requiring editing tools and platforms for professionals. Globalization and media spending on radio, internet, TV, and streaming services further shape the stock music market.The digital music market, driven by the popularity of streaming services, is a significant sector in stock music publishing. Mobile apps, offering both free and paid subscriptions, dominate this market. With vast music libraries, these applications enable on-demand listening. However, the lack of ownership over downloaded music and the necessity for internet connectivity limit their appeal. Consequently, many consumers opt for downloading music instead. To effectively reach audiences, stock music platforms must integrate with mobile apps and social media.

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Segment Overview

This stock music market report extensively covers market segmentation by

License Model1.1 Royalty-free1.2 Rights managedEnd-user2.1 Television2.2 Film2.3 Radio2.4 Advertising2.5 OthersGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Royalty-free- Royalty-free (RF) music refers to the permission to use copyrighted materials without paying recurring royalties or license fees. RF music allows for one-time payment, regardless of usage frequency, number of copies sold, or timeframe. Traditionally, RF music was popular for TV productions due to its ease of use and elimination of complex licensing processes. With the rise of digital distribution, RF music adoption benefiting both composers and buyers. Numerous websites offer a vast selection of RF music across various genres, making it a convenient choice for producers. RF music’s affordability fuels the growth of the global stock music market, as it offers legal access to a wide range of musical content without the need for copyright infringement.

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Research Analysis

The Stock Music Market is a dynamic and evolving industry that caters to the diverse audio needs of various sectors, from Millennials to corporations. Technology and social media have revolutionized the way we consume and create music, making music libraries an essential resource for content creators in the entertainment business. From TV and films to advertisements, video games, and corporate production, the demand for authentic and high-quality music is at an all-time high. The gig economy has given rise to a new generation of multimedia artists, providing them with an opportunity to monetize their creations through stock music platforms. Genres and styles vary widely, catering to the unique needs of different industries and audiences. The user base of streaming services and digital advertising continues to grow, making online marketing and podcasting increasingly important channels for reaching consumers. The Stock Music Market is a thriving business that is here to stay.

Market Research Overview

The Stock Music Market is a dynamic and evolving industry that caters to the growing demand for authentic and high-quality music in various sectors. With millennials leading the charge, technology and social media have revolutionized the way music is consumed and shared. Music libraries have become essential resources for content creators in TV, films, advertisements, video games, corporate production, and the entertainment business. Stock music producers offer licenses, attribution, and exploitable rights to market participants, enabling a diverse range of businesses to access original music for their brand assets. Affluent consumers, cultural change agents, touring musicians, and local musicians all contribute to this vibrant ecosystem. Brands like Coca-Cola and Budweiser have embraced music as a powerful branding tool, creating iconic brand anthems and sponsoring music festivals. The digital element has transformed the industry, with streaming services, podcasting, and online marketing leading the charge. Editing tools and platforms have made it easier for professionals to integrate music into their multimedia content, from magazines and newspapers to instore activations and digital efforts. The market continues to grow, fueled by media spending and the unified approach to platform integration.

Table of Contents:

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

License ModelRoyalty-freeRights ManagedEnd-userTelevisionFilmRadioAdvertisingOthersGeographyNorth 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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SOURCE Technavio

NEW YORK, Nov. 19, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global humanoid robot market size is estimated to grow by USD 16.99 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  45.57% during the forecast period. Demand for enhanced visibility and flexibility in industrial operations is driving market growth, with a trend towards growing demand of humanoid robot owing to emergence of smart manufacturing. However, ethical issues with humanoid robots  poses a challenge.Key market players include Engineered Arts Ltd., EZRobot Inc., Figure AI Inc., HAHN Group GmbH, HANSON ROBOTICS Ltd., Hasbro Inc., Honda Motor Co. Ltd., Hyundai Motor Co., Invento Research Inc., Kawada Robotics Co. Ltd., Macco Robotics, PAL Robotics, Promobot LLC, ROBO GARAGE CO. LTD., Robosen Technologies Ltd, ROBOTIS Co. Ltd, Toyota Motor Corp., Trossen Robotics, UBTECH Robotics Inc., and United Robotics Group GmbH.

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Market Driver

The humanoid robot market is experiencing significant growth, driven by trends in AI for good, aerospace, and assisted living. Companies like Ameca in Jalisco are leading the charge with autonomous robots for elder care and exploration. In the aerospace industry, humanoid robots are being used for astronaut assistance and autonomous exploration. In the amusement park sector, humanoid robots offer customer engagement and satisfaction through interactive experiences. Investment in humanoid robot technology is on the rise, with startups and established companies alike seeking to capitalize on its potential. Ansys simulation software and cognitive science are key areas of focus for innovation. Behavioral sciences, consciousness, and neuroscience are also important fields of study for creating more human-like robots. The marketplace for humanoid robots is diverse, with applications in grocery stores, hospitality, and even isolation wards. Robots are used for customer engagement, medication dispensing, and even surveillance. In the future, humanoid robots may be used for language translation, learning, and even music performance. Strategic management and policy are crucial for the successful implementation of humanoid robots in various industries. Subsidies and investment opportunities are available for companies in this field. Humanoid robots are being used in various industries such as healthcare, education, and manufacturing for tasks ranging from ultraviolet disinfection to autonomous elevator operation. Invention and training are ongoing processes in the humanoid robot market. Robots are being used for research in mathematics, science, and even rock music. Autonomous robots are being used in the aerospace industry for exploration, while humanoid robots are being used in assisted living for elderly care and motivation. The humanoid robot market is constantly evolving, with new applications and innovations emerging all the time. From autonomous elevators to cognitive science research, the potential for humanoid robots is vast. Whether it’s in the aerospace industry, a grocery store, or an isolation ward, humanoid robots are making a difference. 

Smart manufacturing is a modern industrial approach that leverages advanced computing, analytics, and IoT-integrated technology to optimize production processes. Key objectives include flow optimization, customization, asset tracking, predictive maintenance, and real-time inventory management. The growth of automation, electrification, data integration, human-machine interaction, and connectivity have driven the adoption of smart manufacturing. In the automotive industry, sensors are used extensively in manufacturing, assembly lines, and warehouses to enable automation and improve efficiency. Industrial machines and robots are equipped with IoT-integrated microprocessors, microcontrollers, sensors, and switches to facilitate smart manufacturing. 

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 Market Challenges

The humanoid robot market is experiencing significant growth as these advanced machines find applications in various industries. AI for Good initiatives, aerospace, and Ameca Robotics in Jalisco lead the charge in exploration and autonomous robotics. In the entertainment sector, amusement parks use humanoids for customer engagement and satisfaction. Ansys simulation software and cognitive science help develop robots capable of cognition and consciousness. Assisted living, elderly care, and hospitals utilize humanoids for duty in isolation wards and patient care. The future of humanoids includes investment in startups, autonomy in grocery stores and elevators, and even autonomous payment kiosks. Challenges include policy-making, language barriers, and ensuring relevance in areas like mathematics, medicine, and neuroscience. Humanoids are also being used for motivation in areas like music and art, and for strategic management in client computing and investment. Invention in areas like autonomous elevator systems and ultraviolet disinfection robots continue to push the boundaries of this exciting market.The humanoid robot market faces significant challenges due to ethical concerns. Unemployment is a major issue as humanoid robots can perform tasks previously done by laborers, leading to potential job losses. Ethical dilemmas also include privacy concerns, inaccurate data usage, and control and liability issues. These challenges may hinder the growth of the global humanoid robot market during the forecast period. It is crucial for businesses to address these ethical concerns to ensure the responsible adoption and integration of humanoid robots into various industries.

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Segment Overview 

This humanoid robot market report extensively covers market segmentation by  

Application 1.1 Personal assistance and caregiving1.2 Research and space exploration1.3 Education and entertainment1.4 Search and rescue1.5 Public relationsComponent 2.1 Hardware2.2 SoftwareGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Personal assistance and caregiving-  The personal assistance and caregiving segment of the global humanoid robot market is experiencing notable growth due to the increasing demand for robots that can help people with daily living tasks and provide companionship and mental health support. Key players, such as HANSON ROBOTICS, Toyota, and PAL Robotics, are developing humanoid robots with diverse capabilities, from basic tasks to advanced functions like conversing and emotion recognition. The aging population, rising home care demands, and technological advancements fuel market expansion. Startups and smaller companies also contribute, offering specialized humanoid robots for specific applications, like autism therapy or mobility assistance. Overall, the personal assistance and caregiving segment’s growth will continue to drive the global humanoid robot market, as robots become increasingly capable and the need for caregiving services increases.

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Research Analysis

The Humanoid Robot Market is experiencing rapid growth as advancements in AI, autonomy, and cognitive science drive innovation in various industries. Robots are being integrated into sectors such as aerospace for exploration and astronaut assistance, amusement parks for customer engagement, and assisted living for elderly care. In the future, humanoid robots are expected to revolutionize industries like grocery stores and hospitality, providing improved customer satisfaction and efficiency. Applications in fields like art, consciousness, and behavioral sciences are also emerging, broadening the scope of humanoid robotics. Companies are leveraging Ansys for simulation and design, while autonomous robots are being used in duty roles like elevators and electric generators. Foreign language capabilities add to their versatility, making humanoid robots an essential part of our future.

Market Research Overview

The Humanoid Robot Market is experiencing rapid growth as AI technology advances and robots become increasingly integrated into various industries. From ‘AI for Good’ projects to aerospace and amusement parks, humanoid robots are making waves in exploration, assisted living, and customer engagement. In the realm of art and behavioral sciences, robots are pushing boundaries in cognitive science, consciousness, and neuroscience. The marketplace also includes applications in manufacturing, such as autonomous robots for assembly lines and electric generators. In the future, humanoid robots will be found in grocery stores, hospitals, and even isolation wards, providing essential services with motivation and relevance. The market is driven by investment and policy, with startups and subsidies playing a significant role in innovation. Robots are also being used for payment systems, language translation, and even music composition. The possibilities are endless, from simulation software for strategic management to robots that can learn and adapt to their environment. The humanoid robot market is shaping the future of various industries and our daily lives.

Table of Contents:

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

ApplicationPersonal Assistance And CaregivingResearch And Space ExplorationEducation And EntertainmentSearch And RescuePublic RelationsComponentHardwareSoftwareGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

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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SOURCE Technavio

HOUSTON, Nov. 19, 2024 /PRNewswire/ — Nauticus Robotics, Inc. (NASDAQ: KITT, “Nauticus”), a leading innovator in autonomous subsea robotics and software solutions, today announced a strategic collaboration with SeaTrepid International, LLC (“SeaTrepid”) to integrate and test its ToolKITT software on a Remotely Operated Vehicle (ROV) in SeaTrepid’s fleet.

Under this collaboration, Nauticus will install a perpetual license of its ToolKITT software onto an ROV, with SeaTrepid providing access to its facilities and workforce to support pool testing during the certification process. SeaTrepid will gain a competitive edge through enhanced ROV services, while Nauticus will benefit from recurring annual software maintenance revenues post-deployment.

The collaboration’s first focus is implementing ToolKITT’s automatic station-keeping capability. This feature will enable ROV pilots to stabilize the vehicle during subsea operations, reducing workload and improving precision. Following the successful deployment of this initial capability, additional advanced features of ToolKITT will be rolled out incrementally.

John Gibson, CEO and President of Nauticus Robotics, stated, “We are thrilled to work with Bob Christ and the team at SeaTrepid. Together, we aim to revolutionize subsea operations by advancing autonomous ROV capabilities. By equipping SeaTrepid’s ROVs with ToolKITT, we can deliver significant efficiency gains, including reduced CO2 emissions, faster mission completion times, and fewer operator-related delays. This collaboration represents an exciting entry point for ToolKITT into the broader ROV market, building on its recent success on the Aquanaut Mark 2 vehicle earlier this year.”

Bob Christ, CEO of SeaTrepid, added, “This collaboration with Nauticus allows us to integrate cutting-edge software into our fleet, paving the way for SeaTrepid to become the first autonomous ROV service provider. We’re excited about the opportunities this technology presents for transforming subsea operations and look forward to delivering enhanced capabilities to our clients.”

This collaboration underscores Nauticus’ and SeaTrepid’s shared commitment to advancing augmented autonomy in subsea robotics. By leveraging existing ROV infrastructure, the collaboration aims to accelerate market adoption of autonomous technologies while providing cross-training opportunities for their teams.

About Nauticus Robotics

Nauticus Robotics, Inc. develops autonomous robots for the ocean industries. Autonomy requires the extensive use of sensors, artificial intelligence, and effective algorithms for perception and decision allowing the robot to adapt to changing environments. The company’s business model includes using robotic systems for service, selling vehicles and components, and licensing of related software to both the commercial and defense business sectors. Nauticus has designed and is currently testing and certifying a new generation of vehicles to reduce operational cost and gather data to maintain and operate a wide variety of subsea infrastructure. Besides a standalone service offering and forward-facing products, Nauticus’ approach to ocean robotics has also resulted in the development of a range of technology products for retrofit/upgrading traditional ROV operations and other third-party vehicle platforms. Nauticus’ services provide customers with the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions, to improve offshore health, safety, and environmental exposure. 

About SeaTrepid International

SeaTrepid International, LLC is an applied robotic solutions provider offering support for commercial, public safety, municipal, military and scientific applications. They own and operate a variety of robotic equipment and sensor suites for both inland and offshore customers worldwide.

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Act”), and are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the Act as well as protections afforded by other federal securities laws. Such forward-looking statements include but are not limited to: the expected timing of product commercialization or new product releases; customer interest in Nauticus’ products; estimated operating results and use of cash; and Nauticus’ use of and needs for capital. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends,” or “continue” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that may cause actual events, results, or performance to differ materially from those indicated by such statements. These forward-looking statements are based on Nauticus’ management’s current expectations and beliefs, as well as a number of assumptions concerning future events. There can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Nauticus is not under any obligation and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports which Nauticus has filed or will file from time to time with the Securities and Exchange Commission (the “SEC”) for a more complete discussion of the risks and uncertainties facing the Company and that could cause actual outcomes to be materially different from those indicated in the forward-looking statements made by the Company, in particular the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents filed from time to time with the SEC, including Nauticus’ Annual Report on Form 10-K filed with the SEC on April 10, 2024. Should one or more of these risks, uncertainties, or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The documents filed by Nauticus with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov.

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SOURCE Nauticus Robotics, Inc.