Computational Creativity Market Growth Drivers, Trends, and Forecast by 2031

MARKET OVERVIEW

Computational creativity includes testing intending to find state-of-the-art ideas as well as thoughts across diverse areas, such as art, engineering, and literature, among others. This technology is generally applied to artificial intelligence to create things that were not previously possible with the help of computers, including sculptures, paintings, as well as works of fiction. The rapid advancements in technology in the area of artificial intelligence, as well as computational creativity software, uses machine learning algorithms and deep learning for designing more customized experiences for consumers. The software is mostly used for creative writing, video making, and photo and video editing.

MARKET SCOPE

The "Global Computational Creativity Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the computational creativity market with detailed market segmentation by deployment, technology, operating system, application, and geography. The report provides key statistics on the market status of the leading computational creativity market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on deployment, the global computational creativity market is segmented into on-premises and cloud.
  
•   On the basis of technology, the market is segmented into natural language processing, machine learning, deep learning, and others
  
•   Based on operating system, the market is segmented into linux, macos, and microsoft windows.
  
•   Based on application, the market is segmented into marketing and web designing, music composition, product designing, automated story generation, and photography and videography.
  

MARKET DYNAMICS

Drivers:

•   The rising implementation of computer-based creative solutions is the key factor bolstering the computational creativity market. The increasing need to implement automation to enhance the designing process is driving the computational creativity market growth. Also, significant investments in start-ups are offering a lucrative opportunity to the computational creativity market.
  

Restraints:

•   The slow rate of adoption of artificial intelligence, particularly, in developing economies along with high market competition, may restrict the computational creativity market growth.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The computational creativity market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the computational creativity market in these regions.

IMPACT OF COVID-19 ON COMPUTATIONAL CREATIVITY MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the computational creativity market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from computational creativity market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the computational creativity market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Adobe
  
•   Autodesk Inc.
  
•   Canva
  
•   Google LLC
  
•   Humtap Inc.
  
•   IBM
  
•   Lumen5
  
•   Microsoft
  
•   Prisma Labs, Inc.
  
•   Skylum
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Computational Creativity Report Scope