Generative AI in Content Creation Global Market Report 2024

The generative AI in content creation market size has grown exponentially in recent years. It will grow from $12.11 billion in 2023 to $16.17 billion in 2024 at a compound annual growth rate (CAGR) of 33.5%. The expansion observed in the historical period can be attributed to several key factors, including advancements in machine learning techniques, the increased availability of computing power, the expansion of natural language processing capabilities, the rise of generative adversarial networks (GANs), and the emergence of creative applications leveraging these technologies.

The generative AI in content creation market size is expected to see exponential growth in the next few years. It will grow to $51.79 billion in 2028 at a compound annual growth rate (CAGR) of 33.8%. The projected growth in the upcoming period is expected to be driven by several factors, including the evolution of generative AI algorithms, increased adoption by small and medium-sized enterprises, innovation within creative industries leveraging AI capabilities, the integration of multimodal capabilities allowing for diverse content creation, and the democratization of content creation tools. Key trends anticipated in the forecast period encompass the automation of routine tasks through AI-powered content creation, seamless integration of AI tools with existing workflows, ethical considerations surrounding AI-generated content, the democratization of content creation processes enabling broader access to AI technologies, and the expansion of AI-generated content into new domains and industries.

The increasing demand for internet usage is poised to drive the growth of generative AI in the content creation market in the foreseeable future. This surge in demand is attributed to several factors, including improved infrastructure, the expansion of broadband networks, and the widespread adoption of mobile devices such as smartphones and tablets. Generative AI plays a crucial role in content creation by producing diverse content across various formats, styles, and topics, ensuring that internet content remains dynamic, captivating, and relevant to meet the diverse preferences of users. For instance, a report published by the International Telecommunication Union in November 2022 highlighted that approximately 5.3 billion individuals, constituting 66% of the world's population, were using the Internet in 2022, marking a growth rate of 6.1% compared to the previous year. This significant increase in internet users underscores the growing demand for online content consumption, creating opportunities for generative AI in content creation.

Leading companies in the generative AI content creation market are focused on developing technologically advanced products, such as generative AI tools, to drive revenues and meet the evolving needs of users. Generative AI tools leverage learned patterns to automatically generate new content, whether it's text, images, or videos, accelerating creativity and idea generation. For example, Amazon.com, Inc. launched its generative AI tool in September 2023 to simplify sellers' lives and streamline the product listing process. This tool utilizes large language models to create detailed product content from brief descriptions or keywords provided by sellers, saving time and enhancing listing quality and consistency, thereby improving the overall shopping experience.

In November 2023, Adobe Inc., a prominent US-based software company, completed the acquisition of Rephrase.ai for an undisclosed sum. This strategic move is in line with Adobe's objective of enriching its creative suite portfolio and strengthening its foothold in the rapidly growing Indian AI startup landscape. Leveraging Rephrase.ai's expertise and innovative technologies, Adobe aims to enhance its offerings in content creation, editing, and personalization, thereby providing users with more advanced solutions. Rephrase.ai, headquartered in India, specializes in generative AI for content creation.

Major companies operating in the generative AI in content creation market are Amazon Inc., Google LLC, Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, NVIDIA Corporation, Adobe Inc., Pepper Content Pvt. Ltd., Midjourney Technologies Inc., Rent the Runway Inc., Contentful GmbH, Jasper AI inc., Braintrust Inc., Anyword Inc., OpenAI, AI21 Labs Ltd., Ryte GmbH, Synthesia Technologies Ltd., Magical Tome Inc., Brain Technologies AI Ltd., AX Semantics GmbH, Amper Music Inc., Writesonic Inc., Hypotenuse AI inc., Pictory.AI inc.

North America was the largest region in the generative AI in content creation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in content creation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the generative AI in content creation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Generative AI in content creation involves the application of artificial intelligence technology to automatically generate new and original content by leveraging machine learning techniques, particularly deep learning. This enables the AI systems to understand and mimic various patterns, styles, or formats found in large datasets, producing content that closely resembles human-created works. Generative AI in content creation utilizes algorithms to analyze and learn from existing data patterns.

The primary component types of generative AI in content creation include software and services. Software refers to the programs, applications, or systems utilized for creating content using generative AI technology. These applications are employed for text generation, image generation, video generation, audio generation, and other forms of content creation across various industry verticals such as entertainment and media, e-commerce, healthcare, marketing and advertising, among others.

The generative AI in content creation market research report is one of a series of new reports that provides generative AI in content creation market statistics, including generative AI in content creation industry global market size, regional shares, competitors with a generative AI in content creation market share, detailed generative AI in content creation market segments, market trends, and opportunities, and any further data you may need to thrive in the generative AI in content creation industry. This generative AI in content creation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The generative AI in content creation market consists of revenues earned by entities providing services such as code generation and documentation, personalized marketing, and audit reporting automation. The market value includes the value of related goods sold by the service provider or included within the service offering. The generative AI in content creation market also includes sales of chatbots, virtual assistants, and coding tools. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.