MARKET HIGHLIGHTS

The global computational creativity market has been segmented based on technology, components, application, and region. 

Based on technology, the global computational creativity market has been segmented into natural language processing (NLP), machine learning and deep learning (ML and DL), and computer vision.

Based on component, the global computational creativity market has been divided into solution and services. The solution segment is further sub-segmented into software tools and platform. The service segment is also sub-segmented into professional services and managed services. 

Based on application, the global computational creativity market has been segmented into marketing and web designing, product designing, music composition, photography and videography, high-end video gaming development, automated story generation, and others. The others segment is further divided into training simulation and R&D.

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Regional Analysis:

The global computational creativity market is likely to expand at a 25.42% CAGR during the forecast period, to reach 1.14 billion by 2026. The geographic analysis of the computational creativity market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

In 2019, North America held the dominant share, owing to numerous organizations in this region investing in AI-based and ML-based firms. The regional market growth can be attributed to favorable government initiatives to encourage the adoption of AI across various industries. The presence of numerous vendors in the region, such as IBM, Google, Microsoft, Adobe, AWS, and Autodesk, and the higher propensity to adopt new technologies are expected to help these regions strengthen their market positions. The market has been divided into the US, Canada, and Mexico. The US is expected to hold the largest market share during the forecast period, while Canada is expected to witness the highest growth rate.

Europe is expected to account for the second-largest market share, owing to the high adoption of AI techniques and ML techniques in countries such as the UK, Germany, France, Italy, and Spain. European countries have become a hub for technological development, attracting billions of dollars in investment across the globe. Countries such as Germany and the UK are contributing to the high growth rate in this region. The increasing investments in developing the IT infrastructure by the governments of various developed and developing nations are also contributing to the regional market growth.

Asia-Pacific is likely to be the fastest-growing region in the Computational Creativity Market during the forecast period. The increase in the adoption of computational software for marketing & web designing and product designing in APAC has positively impacted the regional market growth in recent years. The rising digitization rate in this region is boosting the adoption of AI to improve operational efficiency and enable process automation.

The Middle East & Africa and South America have started adopting these services recently. The region has the highest adoption owing to the presence of the small, medium, and large enterprises in the region.

KEY PLAYERS

The key players operating in the global computational creativity market are IBM (US), Google (US), Microsoft (US), Adobe (US), AWS (US), Autodesk (US), Jukedeck (UK), Humtap (US), Amper Music (US), Automated Creative  (UK), ScriptBook (Belgium), B12 (US), The Grid (US), Canva (Australia), Hello Games (UK), Aiva (Luxembourg), Object AI (Hong Kong), Firedrop  (UK), OBVIOUS (France), Prisma Labs (US), Cyanapse (UK), Lumen5 (Canada), Skylum (UK), Logojoy (Canada), and Runway (US).

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Computational Creativity Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030

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