Computational Creativity Market To Reach USD 1363.8 Million By 2026
Market Summary: Automation of creative tasks and the adoption of computational creativity solutions to improve the creative processes are propelling the market growth. Market Size – USD 201.6 Million in 2018, Market Growth - CAGR of 27.0%, Market Trends – Artificial intelligence with multi-disciplinary creative fields. The Global Computational Creativity market is forecast to reach USD 1363.8 Million by 2026, according to a new report by Reports and Data. Computational creativity refers to the usage of technologies which help to enhance human creativity across diverse areas, such as engineering, art, and literature, among others. Generally, the technology is applied to AI to create things that were not previously possible with the help of computers, including painting, sculptures, as well as works of fiction. Further key findings from the report suggest The service segment is forecasted to grow with a higher CAGR of 27.5% during the forecast period. The service segment includes professional and managed services. Services play a major role in the functioning of computational creativity solutions. North America held the largest market share of 37.9% in the year 2018. The presence of major vendors in the global computational creativity market such as IBM, Google, Microsoft, Adobe, Amazon Web Services, and Autodesk in the region is driving the growth of the regional market. www.reportsanddata.com
Key participants : IBM, Google, Microsoft, Adobe, Autodesk, Jukedeck, Humtap, Amper Music, AWS, and ScriptBook, among others. Segmentation: • Component Outlook (Revenue, USD Billion; 2016-2026), Solutions, Services • Technology Outlook (Revenue, USD Billion; 2016-2026), Natural Language Processing, Machine Learning and Deep Learning, Computer Vision • Deployment Channel Outlook (Revenue, USD Billion; 2016-2026), On-Premise, Cloud • Applications Outlook (Revenue, USD Billion; 2016-2026), Marketing and Web Designing, Product Designing, Music Composition, Photography and Videography, Others
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Regional Outlook for Computational Creativity Market analyzes the following geographies • North America (United States, Canada, and Mexico) • Europe (Germany, France, UK, Russia, and Italy) • Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) • South America (Brazil, Argentina, Colombia, etc.) • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa
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The report emphasizes the following key questions: • Q.1. What are the most lucrative and promising growth prospects for the market? • Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement? • Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes? • Q.4. Which factors are impacting the future of the market and what are the driving factors? • Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
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