The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

The generative AI in movies market has witnessed remarkable growth recently, showing no signs of slowing down. This technology revolutionizes the filmmaking process, bringing creativity and efficiency to new heights.

 

Market Size and Growth

Historic and Forecast Growth

• 2023 to 2024: The market size is expected to grow from $0.26 billion in 2023 to $0.32 billion in 2024, at a compound annual growth rate (CAGR) of 24%.
• 2028 Forecast: Looking further ahead, the market is projected to reach $0.77 billion by 2028, with a CAGR of 24.1%.

Factors Driving Growth

Historic Period Drivers

• Decreased Labor Costs: Automation reduces the need for extensive manual labor.
• Increased Efficiency: Streamlined processes enhance production speed.
• Improved Creativity: AI tools facilitate innovative storytelling.
• Enhanced Visual Effects: Superior VFX elevate the movie-watching experience.
• Creative Exploration: AI enables filmmakers to experiment with new ideas and techniques.

Forecast Period Drivers

• Interdisciplinary Influence: Collaboration across fields boosts AI’s effectiveness.
• Audience Acceptance: Growing familiarity with AI-generated content.
• Ethical Considerations: Addressing ethical issues enhances market trust.
• Algorithmic Improvements: Advancements in AI algorithms improve outcomes.
• Computational Power: Better hardware supports more complex AI tasks.
• Data Availability and Quality: Access to high-quality data refines AI models.

 

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Major Trends in the Forecast Period

• Real-Time Script Adaptation: AI adjusts scripts on-the-fly to improve storytelling.
• Virtual Actor Creation: Digital actors created by AI offer new possibilities.
• AI-Enhanced Visual Effects: Advanced VFX tools driven by AI.
• Predictive Analytics for Box Office Success: AI forecasts box office outcomes.
• AI-Driven Film Restoration and Remastering: Reviving old films with AI.
• Emotionally Intelligent AI Characters: Characters that react more naturally to plot developments.

Role of Consumer Entertainment Spending

Increased Spending Drives Growth

• Consumer Entertainment Spending: Higher expenditure on entertainment fuels demand for AI in movies.
• Automation Benefits: AI tools automate repetitive tasks, speeding up production.
• Box Office and Ticket Sales: A rise in ticket sales and box office collections exemplifies increased spending.

Key Players in the Market

Leading Companies

• Sony Corporation
• NVIDIA Corporation
• Adobe Inc.
• Autodesk Inc.
• Midjourney Inc.
• WETA FX LIMITED
• Stability AI
• Hugging Face Inc.
• Synthesia Limited
• Runway AI Inc.
• AI21 Labs
• Luma AI Inc.
• OpenAI Inc.
• ScriptBook
• ElevenLabs

Advancements in AI Technology

Text-To-Video AI Technology

• Innovative Tools: Companies are developing tools like text-to-video AI.
• Runway AI’s Gen-1 and Gen-2: Tools for generating videos from text and existing footage.

Notable Acquisitions

VideoVerse Acquires Reely.ai

• Enhancing Capabilities: Acquisition aimed at boosting AI-driven content creation for gaming and esports.

Market Segmentation

By Type

• Content Generation
• Visual Effects
• Postproduction and Editing
• Budget Optimization
• Audience Engagement
• Creative Inspiration

By Deployment

• Cloud-Based
• Hybrid

By Application

• Filmmaking and Production
• Virtual Reality (VR) and Augmented Reality (AR)
• Marketing and Promotion
• Movie Recommendation

Regional Insights

Largest and Fastest-Growing Regions

• North America: The largest market in 2023.
• Asia-Pacific: Expected to be the fastest-growing region in the forecast period.

The generative AI in movies market is on a robust growth trajectory, driven by technological advancements and increased consumer spending. This market is set to transform the filmmaking landscape, offering unprecedented creative opportunities and efficiencies.

 

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The Generative AI In Movies Global Market Report 2024  provides an overview of the generative AI in movies market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The generative AI in movies market forecast analyzes generative AI in movies market size, generative AI in movies market share, leading competitor and their market positions.

 

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