AI Music Generator Market Trends and Forecast
The future of the global AI music generator market looks promising with opportunities in the personal use and commercial markets. The global AI music generator market is expected to grow with a CAGR of 26.7% from 2024 to 2030. The major drivers for this market are advancements in machine learning algorithms, growing demand for personalized music experiences worldwide, and rise in AI-powered music recommendation systems.
• Lucintel forecasts that cloud based is expected to witness higher growth over the forecast period.
• Within this market, commercial is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Music Generator Market
• United States: Google announced new AI music composition tools aimed at enhancing user creativity and integration with streaming platforms.
• China: Tencent Music partnered with AI startups to develop personalized music recommendations, aligning with government goals to boost AI innovation.
• United Kingdom: Sony launched AI-driven music production software, supporting UK government initiatives to foster technology in creative industries.
• Germany: Fraunhofer Institute expanded research on AI music algorithms, backed by government funding to advance AI applications in cultural sectors.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Music Generator Market by Segment
The study includes a forecast for the global AI music generator market by type, application, and region.
AI Music Generator Market by Type [Value from 2018 to 2030]:
• Cloud Based
• On-Premise
AI Music Generator Market by Application [Value from 2018 to 2030]:
• Personal Use
• Commercial
AI Music Generator Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Music Generator Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI music generator companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI music generator companies profiled in this report include-
• Boomy
• Amper Music
• AIVA
• Ecrett Music
• OpenAI
• Amadeus Code
• Loudly
Recent Development in the AI Music Generator Market
• OpenAI: OpenAI launched a new version of its AI music generation model, enhancing its capability to create diverse musical compositions across genres.
• Sony CSL: Sony CSL introduced FlowMachines, an AI-driven music creation platform that allows musicians to collaborate with AI systems to produce original compositions.
• Google DeepMind: Google DeepMind developed a neural network model called "Magenta", designed to generate music and art through machine learning algorithms.
• IBM Watson: IBM Watson expanded its AI-powered tools into the music industry, offering composers and artists innovative ways to create and personalize music using AI algorithms.
• AIVA Technologies: AIVA Technologies introduced updates to its AI music composition software, enabling users to generate customized music tracks tailored for various applications, including films and video games.
Features of the Global AI Music Generator Market
Market Size Estimates: Ai music generator market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Ai music generator market size by type, application, and region in terms of value ($B).
Regional Analysis: Ai music generator market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI music generator market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI music generator market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AI music generator market?
Answer: The global AI music generator market is expected to grow with a CAGR of 26.7% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AI music generator market?
Answer: The major drivers for this market are advancements in machine learning algorithms, growing demand for personalized music experiences worldwide, and rise in AI-powered music recommendation systems.
Q3. What are the major segments for AI music generator market?
Answer: The future of the global AI music generator market looks promising with opportunities in the personal use and commercial markets.
Q4. Who are the key AI music generator market companies?
Answer: Some of the key AI music generator companies are as follows:
• Boomy
• Amper Music
• AIVA
• Ecrett Music
• OpenAI
• Amadeus Code
• Loudly
Q5. Which AI music generator market segment will be the largest in future?
Answer: Lucintel forecasts that cloud based is expected to witness higher growth over the forecast period.
Q6. In AI music generator market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI music generator market by type (cloud based and on-premise), application (personal use and commercial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to AI Music Generator Market Market, AI Music Generator Market Market Size, AI Music Generator Market Market Growth, AI Music Generator Market Market Analysis, AI Music Generator Market Market Report, AI Music Generator Market Market Share, AI Music Generator Market Market Trends, AI Music Generator Market Market Forecast, AI Music Generator Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.