Computational Creativity Market: Current Analysis and Forecast (2023-2030)

Report Description

The Computational Creativity Market was valued at 0.51 billion in 2022 and is expected to grow at a steady rate of around 19.12% in the forecasted period (2023-2030) owing to the increasing adoption of AI technologies in various industries.  Computational Creativity (CC) utilizes machines capable of creating original content through complex processes like deep learning neural networks or genetic algorithms. These systems analyze vast amounts of data from diverse sources before generating new solutions tailored towards achieving specific objectives within fields like game development, architecture, fashion, etc. The goal is not only to replicate human ingenuity but also augment it by exploring unconventional combinations of existing knowledge and fostering hybridized forms of creativity never seen before. The increasing demand for innovation across multiple sectors, particularly tech and media, has fueled investment into computational creativity research initiatives seeking novel approaches to problem-solving. Additionally, the availability of large datasets alongside improved computing power means machines can now learn patterns and relationships within these datasets faster than ever before facilitating breakthroughs previously thought impossible.

Some of the major players operating in the market include Google LLC; Microsoft Corporation; International Business Machines (IBM) Corporation; Amazon Web Services (AWS); Meta AI; NVIDIA Corporation; Adobe Inc.; Intel Corporation; Baidu, Inc.; Samsung Electronics Co., Ltd.

Insights Presented in the Report

“Among component, the solution segment leads the market during forecast period.”

Based on component, the market is bifurcated into solutions and services. Among these, the solution segment is anticipated to lead the market due to the growing demand for automation of creative processes in various industries like media & entertainment, advertising, and education. However, the service segment, which provides consulting and training services related to computational creativity, is also expected to contribute significantly to the growth of the market.

“Amongst technology, ML & DL segment is holding the major share during the forecast period.”

Based on the technology, the market is bifurcated into NLP, ML & DL, and computer vision. Among these, the ML & DL segment holds the largest market share and is expected to continue its dominance throughout the forecast period mainly due to the increasing adoption of deep learning techniques in various applications such as image recognition, natural language processing, and predictive analytics.

“North America to hold a significant share in the market.”

North America is currently leading the computational creativity market. The US, Canada, and Mexico together account for more than half of the global market share due to early adoption of cutting-edge technologies, ample funding opportunities, and a strong presence of major industry players contributing to innovative developments within this space. Furthermore, favorable government policies encouraging R&D activities further boosted investor confidence resulting in an influx of venture capital for emerging startups operating here. Additionally, established brands such as IBM Watson, Microsoft Azure Machine Learning Studio, Google Cloud Platform etc., provide reliable solutions that cater not only to local businesses but also contribute significantly towards driving international standards worldwide.

Computational Creativity Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Computational Creativity market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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Frequently Asked Questions (FAQ)

Research Methodology

Research Methodology for the Computational Creativity Market Analysis

(2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Computational Creativity market were the three major steps undertaken to create and analyze the adoption of Computational Creativity market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Computational Creativity market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Computational Creativity market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Computational Creativity market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as component, technology, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Computational Creativity market. Further, we conducted factor analysis using dependent and independent variables such as various component, technology, and application Computational Creativity market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Computational Creativity market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Computational Creativity market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Computational Creativity market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Computational Creativity market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Computational Creativity market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of component, technology, and application in the global Computational Creativity market.

The main objective of the Global Computational Creativity Market Study

The current & future market trends of the global Computational Creativity market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Computational Creativity market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of component, technology, and application.
• Define and analysis of the regulatory framework for the Computational Creativity market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Computational Creativity market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profile of the Computational Creativity market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

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