AI In Music Market size worth US$3.201 billion by 2029

artificial intelligence in music market

Artificial intelligence (AI) in music market is expected to grow at a CAGR of 16.28%, reaching a market size of US$3.201 billion in 2029 from US$1.489 billion in 2024.

Artificial intelligence is among the latest technology, which uses computer and machine learning tools to mimic the intelligence of humans. In the music sector, artificial intelligence is set to play a critical role, from the production process of the music to the delivery platform to the users. In music production, artificial intelligence can offer key applications, like its advanced algorithms have the capabilities to generate new and unique music, lyrics, and beats. The Al algorithms can also analyze a higher volume of data set and can generate the music as per the command. Similarly, in the streaming platform of music, the AI can track, monitor, and understand the preferences of the users, and can suggest new songs based on the user’s taste.

  • Growth Drivers in the Artificial Intelligence In Music Market

With the increasing innovation, and growing investment in the global AI technology is set to increase the demand for AI in music market globally. With the increasing innovation and investments, various companies and organizations will introduce various AI-based models, which can boost the music creation and user experience across the globe. For instance, in September 2024, YouTube, a global music and video streaming platform announced the launch of its responsible AI tool, which is aimed to protect the interest of artists. Similarly, in October 2024, Universal Music Group, a global music composing company announced that the company entered into a strategic deal with Ethical AI Music Company, for a commercial ethical model of AI, for generation music, with the collaboration of artists and the music industry.

  • Segmentation of the Artificial Intelligence In Music Market

The artificial intelligence (AI) in the music market, under the application segment, is personalization, music composition, and audio mixing. Under the application segment of the global artificial intelligence in the music market, the music composition category is forecasted to attain a greater market share. The music composition process includes integrating key components of music, like melodies, sounds, harmonies, and rhythms together. In music composition, artificial intelligence tools offer key applications, such as the capability to integrate and edit different components of music together, to create unique music. The generative AI tools also offer the capability to generate new and personalized lyrics, which can speed up the music composition process. Similarly, in music composition, AI tools can also help in translating and composing one song, in many different international languages, which can increase the reach of the music composed.

Based on geography, the North American region is forecasted to witness the maximum share of global artificial intelligence (AI) in the music market. The North American region is among the largest developers of new technologies, like AI. The region is home to some of the biggest technological developers, like Meta, Google, Open AI, and Intel. The USA and Canada are also among the biggest adopters of AI-based technologies across multiple industries, like media & entertainment, manufacturing, healthcare, and automotive among many other industries. The region also offers some of the leading music streaming platforms, and industry leaders, like Amazon Music, Apple Music, and YouTube Music among others. This platform offers innovative streaming services across the globe. These companies also integrate new technologies, like AI into their platforms, which enables greater user experiences. For instance, in June 2024, Apple Inc., a global technological leader introduced its AI tool, Apple Intelligence, which offers improved capabilities to the music streaming platform of the company. The AI tool integrated with the Apple Music offers uses the user data memory, to understand the taste of the user and personalizes the song suggestion based on the past songs.

  • Key Players in the Artificial Intelligence In Music Market

The research includes several key players from the AI in music market, such as iZotope, Aiva Technologies, Amper Music (Shutterstock Inc), BRAINFM Inc, LANDR, Boomy Corporation, Magenta (Google Inc), SOUNDRAW Inc, Amadeus Code, and Klangio GmbH.

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The Artificial Intelligence (AI) in music market is segmented and analyzed as follows: