Global Generative AI in Music Market By Component (Software and Services), By Type (GANs, AR-CNNs, Transformer-based Models), By Application (Composition of Music, Music Mastering, Streaming Music, Making of New Sounds, Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: May 2024
- Report ID: 98916
- Number of Pages: 248
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Report Overview
The Global Generative AI in the Music Market size is expected to be worth around USD 2,660 Million by 2032, from USD 294 Million in 2023, growing at a CAGR of 28.6% during the forecast period from 2024 to 2033.
Generative AI has revolutionized the music industry by enabling the creation of original compositions and enhancing the creative process for musicians. Generative AI in music refers to the use of artificial intelligence algorithms to generate melodies, harmonies, rhythms, and even entire songs autonomously. It provides musicians with a powerful tool to explore new musical ideas, break creative blocks, and discover unique combinations of sounds.
The market for generative AI in music is rapidly expanding. This growth can be attributed to the increasing demand for personalized content and the need for more efficient production processes in the music industry. As AI technology becomes more sophisticated, its adoption in music creation and production is expected to increase, offering significant opportunities for innovation and market expansion. This technology not only supports artists in expressing their creativity but also helps music companies in developing unique content quickly and efficiently.
In the music market, generative AI has opened up opportunities for both established artists and emerging talents. It serves as a valuable source of inspiration, offering endless possibilities for experimentation and innovation. Musicians can input specific parameters or styles into the AI system and receive compositions that align with their desired musical direction. This technology allows artists to quickly generate a wide range of musical content, saving time and effort in the creative process.
However, it is important to note that while generative AI in music offers numerous advantages, it does not replace human creativity and expertise. It serves as a tool to enhance and augment the artistic process, providing new possibilities and ideas. Musicians and composers still play a vital role in shaping and refining the generated content, infusing it with their unique artistic vision and emotional depth.
According to survey, The Global Generative AI Market is projected to experience a substantial growth, with its valuation anticipated to reach approximately USD 255.8 Billion by 2033, up from USD 13.5 Billion in 2023. This represents a robust Compound Annual Growth Rate (CAGR) of 34.2% over the forecast period from 2024 to 2033.
A report by Goldmedia highlights significant challenges within the “AI and music” sector. It forecasts a potential decline of 27% in music creators’ revenues by 2028, should no compensation mechanism for human-generated inputs be established. This could result in a substantial revenue shortfall in the music industry.
Specifically, in France and Germany, the anticipated revenue gap is estimated to be approximately EUR €950.1 million (~USD $1.03 billion) in 2028 alone, with a cumulative gap of around €2.7 billion ($2.93 billion) from today until 2028. Mubert, an AI Music Platform, reported the generation of over 100,000,000 songs in the first half of 2023, indicating significant activity and engagement in this sector.
The use of AI in music production shows considerable variation across different genres. Electronic music sees the highest integration with 54% of creators utilizing AI, closely followed by hip-hop at 53%, and advertising music at 52%. Other genres such as background and stock music, and the audiovisual industry, have also seen notable AI adoption at 47% and 46%, respectively.
Conversely, genres such as pop music (40%), rock and metal (38%), and symphonic/contemporary and electroacoustic music (36%) demonstrate lower engagement with AI technologies. This trend extends to jazz/blues/improv (33%) and traditional and world music (30%), where AI use remains less common.
Generative AI in Music Statistics
- The generative AI music market size is expected to reach USD 2,660 Million by 2033, projected at a CAGR of 28.6% during forecast period.
- In 2022, the Software segment held a dominant position in the generative AI music market, capturing more than a 55% share.
- In 2022, the Generative Adversarial Networks (GANs) segment held a dominant market position within the generative AI in the music industry, capturing more than a 41% share.
- In 2022, the Music Mastering segment held a dominant market position within the generative AI in the music industry, capturing more than a 30% share.
- In 2022, North America held a dominant market position in the generative AI music market, capturing more than a 35% share.
- Usage in Music Creation: Approximately 60% of musicians are already utilizing AI tools to assist in music production. This widespread adoption highlights the growing importance of AI in enhancing creative processes in the music industry.
- Application in Mastering: Of those using AI, 30.6% employ AI technologies specifically for mastering music. This indicates a significant reliance on AI to refine the final sound quality of music tracks.
- AI in Visual Art: Around 38% of musicians use AI to create album artwork. This shows the expansion of AI use beyond audio, assisting artists in visual aspects of music presentation.
- Producers’ Adoption: About 36.8% of music producers incorporate AI into their production workflows. This statistic underscores AI’s role in streamlining music production and fostering innovative practices.
- Desire for Improvement: Nearly half, or 49%, of creators express a desire for improvements in the quality of music generated by AI. This suggests that while AI is widely used, there is significant room for enhancement in how it handles creative tasks.
- Copyright Issues: 21% of creators have experienced multiple copyright strikes after using AI-generated content. This points to ongoing challenges in the intersection of AI, creativity, and copyright law, emphasizing the need for clearer guidelines and better AI training to respect existing copyrights.
Component Analysis
In 2022, the Software segment held a dominant position in the generative AI music market, capturing more than a 55% share. This leadership is primarily driven by the widespread adoption of AI software tools that facilitate music composition, editing, and production. The ease of integration of these software solutions into existing music production environments has significantly contributed to their market dominance.
Additionally, the software enables musicians and producers to experiment with complex compositions and sound manipulations, which are often challenging and time-consuming when done manually. The appeal of the Software segment is also enhanced by continuous advancements in AI algorithms that improve the quality and diversity of music generation.
Developers are constantly introducing innovative features, such as mood-based composition tools and automated mastering processes, which further entice music creators. The scalability of software solutions allows for broad application across various levels of the music industry, from independent artists to large studios, ensuring a wide-reaching impact on the market.
Moreover, the cost-effectiveness of software compared to hiring composers or purchasing traditional music production hardware has made it an attractive option for many in the industry. As AI technology progresses, the software is expected to become even more sophisticated, offering more nuanced and creative outputs that could rival human compositions in complexity and appeal. This ongoing evolution positions the Software segment for sustained growth and continued market leadership in the coming years.
Type Analysis
In 2022, the Generative Adversarial Networks (GANs) segment held a dominant market position within the generative AI in the music industry, capturing more than a 41% share. This predominance is largely due to the unique capability of GANs to generate high-quality, innovative musical content that mimics human creativity.
GANs work by employing two neural networks that challenge each other to improve the output continuously, leading to more refined and complex musical compositions. This method’s effectiveness in producing diverse and creative outputs has made GANs particularly popular among music producers seeking fresh and original content.
The strength of the GANs segment is also bolstered by its versatility in applications ranging from creating entirely new musical pieces to enhancing existing compositions with novel elements. This flexibility has encouraged widespread adoption across various music genres and production scales, from amateur creators to professional studios. The ability of GANs to learn and adapt to different musical styles and complexities contributes to their broad appeal and utility in the music production field.
Furthermore, the ongoing development in the technology powering GANs promises even greater capabilities and efficiencies, which could expand their use in the music industry. Innovations in AI training methods and the increasing availability of music data for training AI models are likely to further enhance the performance and accessibility of GANs, ensuring their continued leadership in the market. This ongoing advancement is expected to drive further growth in the GANs segment, maintaining its position at the forefront of AI-generated music innovation.
Application Analysis
In 2022, the Music Mastering segment held a dominant market position within the generative AI in the music industry, capturing more than a 30% share. This leading role is largely attributed to the critical importance of mastering in the music production process, combined with the efficiencies introduced by AI technologies.
Generative AI significantly enhances the mastering process by automating several labor-intensive tasks, such as adjusting levels, fine-tuning compression, and ensuring consistency across tracks. This automation not only speeds up the process but also maintains a high level of precision, leading to superior sound quality that meets professional standards.
The appeal of the Music Mastering segment is further strengthened by the accessibility and cost-effectiveness of AI tools. These tools allow independent artists and smaller studios to achieve studio-quality sound without the need for expensive professional services. As a result, the democratization of music mastering through AI technologies has expanded the market, enabling a wider range of artists to produce polished, release-ready music.
Moreover, the continuous advancements in AI-driven audio processing algorithms are expanding the capabilities of mastering software, making it even more precise and versatile. These improvements help in accommodating a broader spectrum of music styles and production qualities, which is crucial as music genres continue to evolve and merge.
Impact Of Generative AI On Music
- Music Creation: Generative AI aids musicians by providing tools that overcome creative challenges, like overcoming writer’s block or generating complex musical components without manual input. Platforms like AudioCraft offer high-quality, realistic audio generation from text, enabling musicians to explore new compositions without playing an instrument, thereby expanding creative possibilities without replacing human creativity. Additionally, generative AI has democratized music production, allowing anyone with access to these technologies to create music, potentially lowering barriers for entry into the music industry.
- Music Distribution: The influence of generative AI extends to music distribution by promoting a shift towards decentralization. Traditional distribution channels controlled by major labels are being challenged by AI-driven platforms that enable artists to distribute their music directly to streaming services. This shift not only facilitates broader distribution but also allows artists to retain more royalties, effectively bypassing the conventional label-artist-distribution model. This is particularly beneficial for niche and local artists who may find it difficult to penetrate the mainstream market dominated by major labels.
- Music Consumption: Streaming platforms have incorporated AI from their inception, affecting how music is accessed and consumed. Generative AI enhances user experiences on these platforms by personalizing music recommendations, thus transforming listening habits. Listeners now have unprecedented access to a diverse array of music tailored to their preferences, delivered through sophisticated AI algorithms.
Key Market Segments
By Component
- Software
- Services
By Type
- GANs
- AR-CNNs
- Transformer-based Models
By Application
- Composition of Music
- Music Mastering
- Streaming Music
- Making of New Sounds
- Other Applications
Driver
Increased Demand for Personalized Content
The generative AI music market is significantly driven by the rising demand for personalized music content. As consumers seek more customized and unique listening experiences, artists and producers are turning to AI to create tailored compositions and sounds. This trend is particularly evident in streaming services, where AI algorithms analyze listener preferences to deliver personalized playlists and recommendations. The ability to automate and scale personalized content creation with AI not only enhances user engagement but also offers a competitive edge to music providers, driving further adoption of generative AI technologies across the music industry.
Restraint
Concerns Over Authenticity and Copyright
A major restraint in the generative AI music market is the ongoing concern regarding the authenticity and copyright implications of AI-generated music. As AI systems become more capable of producing complex and original compositions, questions arise about the ownership of these creations and the ethical implications of using AI in artistic processes. These concerns can hinder the adoption of generative AI technologies, as artists and companies may face legal challenges or backlash from purists who value human creativity over artificial production, impacting the market’s growth potential.
Opportunity
Expansion into Emerging Markets
Generative AI in music presents a significant opportunity for expansion into emerging markets, where there is a growing interest in innovative technologies. These regions often have burgeoning music scenes that are ripe for disruption through advanced technologies. By introducing AI-powered music composition and production tools, companies can tap into new demographics, offering cost-effective, efficient, and scalable solutions that cater to a diverse array of musical tastes and preferences. This expansion not only broadens the market reach but also drives innovation and adaptation of AI technologies in different cultural contexts.
Challenge
Technological Complexity and User Adoption
A key challenge facing the generative AI music market is the technological complexity associated with AI tools, which can impede widespread adoption, especially among traditional musicians and smaller studios unfamiliar with AI. The need for technical expertise to operate advanced AI systems can be a barrier for many potential users.
Additionally, there is often resistance to change from industry professionals who may be skeptical about replacing traditional methods with AI-driven processes. Overcoming these hurdles requires significant efforts in education and user-friendly design to make AI tools more accessible and accepted within the broader music community.
Growth Factors
- Advancements in AI Technology: Continuous improvements in AI algorithms and processing power allow for more sophisticated and creative musical outputs, enhancing the appeal of generative AI in music production.
- Rise in Content Customization Needs: There is a growing demand for personalized music experiences, which generative AI can provide by tailoring music to individual tastes and preferences, driving broader adoption across consumer segments.
- Cost Reduction and Efficiency: AI technologies can significantly reduce the costs and time involved in music production, making high-quality music creation accessible to a wider range of producers and artists.
- Integration with Streaming Platforms: As streaming services seek to enhance user experience, the integration of generative AI to create dynamic and personalized playlists is becoming a key growth driver.
- Global Expansion Opportunities: The globalization of music consumption and production is facilitating the adoption of generative AI tools in diverse markets, including those in developing regions seeking innovative production technologies.
Emerging Trends
- AI Collaborations with Human Artists: Increasingly, AI is being used as a collaborative tool that assists artists in composing and producing music, rather than replacing human creativity, fostering a new genre of AI-enhanced music.
- Ethical AI Development: There is a rising focus on developing ethical guidelines and frameworks to address issues of copyright, authenticity, and creative ownership in AI-generated music.
- AI in Live Performances: The use of AI to enhance live performances with real-time music generation and sound manipulation is becoming more prevalent, offering audiences novel and interactive experiences.
- Cross-Industry Applications: Beyond music production, generative AI is being used in gaming, film, and virtual reality to create adaptive and immersive audio environments, expanding its market reach.
- Enhanced Learning Tools: Generative AI is increasingly being utilized in educational contexts to provide students and aspiring musicians with advanced tools for learning and experimentation, democratizing music education.
Regional Analysis
In 2022, North America held a dominant market position in the generative AI music market, capturing more than a 35% share. This leadership can be attributed to several pivotal factors. Primarily, the region’s robust technological infrastructure and the presence of major technology firms that are pioneers in AI developments have significantly propelled the market forward.
Additionally, North America benefits from a strong cultural inclination towards innovation and technology adoption, which is deeply embedded in the region’s approach to music production and consumption. The high concentration of key market players in the U.S., such as OpenAI, Google, and IBM, who are continually investing in and promoting AI technologies, also underpins the growth.
These entities not only develop AI tools but also foster partnerships and collaborations that integrate AI into various creative sectors, including music. For instance, initiatives aimed at incorporating AI in music composition, editing, and mixing have seen increased investment and interest, pushing the boundaries of what AI can achieve in this field.
Moreover, the region’s regulatory framework and policies are supportive of AI advancements. Government initiatives, like funding for AI research and the promotion of intellectual property development in technology, provide a conducive environment for growth and innovation in AI applications in music. This combination of factors ensures that North America not only maintains but also expands its market share by staying at the forefront of technological integration in the music industry.
Note: Actual Numbers Might Vary In The Final Report
Key Regions and Countries Covered in this Report:
- North America
- The US
- Canada
- Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia
- Netherland
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia
- New Zealand
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Key Players Analysis
Several key companies in generative AI in the music market focus on technological advancements in AI tools to provide better services. Also, companies are adopting marketing strategies such as merging and acquisition to stay competitive in the market.
Market Key Player
- Shutterstock Inc.
- Aiva Technologies SARL.
- Soundful
- Ecrett music
- Boomy Corporation
- OpenAI
- Amadeus Code
- Other Key Players
Recent Developments
- On February 7, 2023, Microsoft announced that it is building AI technology based on the same foundation as ChatGPT into Microsoft Bing.
- In June 2023, Soundful updated its platform, emphasizing user-friendly music customization options. It provides over 50 templates across various genres, enabling users to adjust basic musical parameters to their preference
- On July 11, 2023, Shutterstock expanded its partnership with OpenAI, signing a new six-year agreement to enhance capabilities for AI-driven content creation, including potential applications in AI-generated music through associated multimedia integrations
Report Scope
Report Features Description Market Value (2023) USD 294 Mn Forecast Revenue (2032) USD 2,660 Mn CAGR (2023-2032) 28.6% Base Year for Estimation 2023 Historic Period 2019-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Component- Software and Services; By Type- GANs, AR-CNNs, Transformer-based Models; By Application- Composition of Music, Music Mastering, Streaming Music, Making of New Sounds, and Other Applications. Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Shutterstock Inc., Aiva Technologies SARL., Soundful, Ecrett music, Boomy Corporation, OpenAI, Amadeus Code, and Other Key Players. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the estimated CAGR for the Global Generative AI in the Music Market between 2023 and 2032?The estimated CAGR for the Global Generative AI in the Music Market between 2023 and 2032 is 28.6%.
What is the estimated value of the Global Generative AI in the Music Market in 2032?The estimated value of the Global Generative AI in the Music Market in 2032 is USD 2,660 million.
What is the main driving factor behind the growth of the Global Generative AI in the Music Market?The main driving factor behind the growth of the Global Generative AI in the Music Market is the increasing adoption of smartphones, generative AI tools, and technological advancements.
What is the dominant segment in the Global Generative AI in the Music Market based on components?The dominant segment in the Global Generative AI in the Music Market based on components is the software segment.
What is the role of technological advancements in the growth of the Global Generative AI in the Music Market?Technological advancements, such as the Internet of Things (IoT), deep learning, and machine learning, are fueling the growth of the Global Generative AI in the Music Market.
What are the key market segments of generative AI music?The key market segments of generative AI music include component (software and services), type (GANs, AR-CNNs, and Transformer-based Models), and application (composition of music, music mastering, streaming music, making of new sounds, and other applications).
What are some key players in the generative AI music market?Some key players in the generative AI music market include Shutterstock Inc., Aiva Technologies SARL, Soundful, Ecrett music, Boomy Corporation, OpenAI, and Amadeus Code.
Generative AI in Music MarketPublished date: May 2024add_shopping_cartBuy Now get_appDownload Sample - Shutterstock Inc.
- Aiva Technologies SARL.
- Soundful
- Ecrett music
- Boomy Corporation
- OpenAI
- Amadeus Code
- Other Key Players
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