Market Overview/Outlook (2022 to 2032)



The global market for Generative AI in Music is expected to grow between 2023 and 2032 due to factors like creativity and innovation, automated composition, personalization and customization, and collaboration with human artists.



The Global Generative AI in Music Market was valued at USD 0.30 Billion in 2022 and is projected to reach USD 2.70 Billion by 2032, registering a CAGR of 28.6% for the forecast period 2023-2032.



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Global Generative AI in Music Market Drivers



Automated Composition: Generative AI is a technology that can automatically compose music, providing musicians and composers with a quick way to generate musical ideas and motifs. This not only saves time during the initial stages of music creation but also allows artists to concentrate on refining and expanding upon the generated content. Automated composition is a powerful tool for generating inspiration and new musical ideas. AI algorithms can produce compositions with unique patterns, harmonies, and structures, encouraging human composers to explore creative directions they may not have considered before.



Global Generative AI in Music Market – Merger and Acquisitions



Voicemod acquires music tech and AI outfit Voctro Labs (2021)


Voicemod, a Valencia-headquartered AI voice augmentation company, announced yesterday it had bought its Barcelona-based audio tech peer Voctro Labs. Voctro Labs' four-person team will join the Voicemod operation with immediate effect, taking charge of the latter's R&D department. The merger will integrate the two products, which both use machine learning to automatically modulate live mic streams, targeting content creators, livestreamers and video platforms.



Challenges Impacting the Global Generative AI in Music Market



Quality and Authenticity Concerns: There are concerns that generative AI may not be able to replicate the emotional depth and nuanced artistic expression that is intrinsic to human-created music. The subjective and complex nature of artistic expression could prove challenging for AI models to capture authentically. Critics argue that AI-generated music might not be truly creative, instead just mimicking existing patterns from training data. This raise concerns that AI-generated compositions may lack the originality and innovative thinking that are associated with human creativity.



List of Prominent Players:

Shutterstock Inc.
Aiva Technologies SARL.
Soundful
Ecrett music
Boomy Corporation
OpenAI
Amadeus Code
Others


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Segmentation of Global Generative AI in Music Market:



By Component:

Software
Services


By Type:

GANs
AR-CNNs
Transformer-based Models


By Application:

Post-Music Mastering
Composition of Music
Streaming Music
Making of New Sound
Others


By Region:

North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia Pacific (China, Japan, India, Southeast Asia, Rest of APAC)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa (GCC Countries, UAE, Rest of MEA)


Regional Analysis:



North America:



United States: The United States is a global center for technological innovation, particularly in Silicon Valley and other tech-centric regions, where many AI research institutions, startups, and technology companies are located. This innovation ecosystem contributes to the development of generative AI technologies. The US is home to some of the world's leading research institutions and universities specializing in artificial intelligence, which drive cutting-edge research in AI, including its applications in the music industry.



Read More @ https://www.linkedin.com/pulse/generative-ai-music-market-projected-reach-usd-270-bn-pooja-dayal-tn88f/



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