Computational Creativity Market overview

Computational creativity is a field of study that focuses on using computers to model and simulate human creativity, with the goal of achieving human-level creativity, better understanding human creativity, and designing programs that can enhance human creativity. The field is located at the intersection of artificial intelligence, cognitive psychology, philosophy, and the arts. Theoretical and practical issues in the study of creativity are addressed, with one strand of work informing the other. The applied form of computational creativity is known as media synthesis. The field involves the use of machine learning methods to enable creative capacities within computer programs. Key concepts from the literature include important categories of creativity, such as "P-creativity" and "H-creativity," exploratory and transformational creativity, and conceptual blending. There is also a focus on combinatorial creativity and linguistic creativity, including the generation of novel sentences, phrasings, puns, neologisms, rhymes, allusions, sarcasm, irony, similes, metaphors, analogies, witticisms, and jokes. Story generation, metaphor and simile, and analogy are also areas of focus within computational creativity.

The experimentation of finding innovative thoughts and ideas across various fields such as literature, art, engineering, and others is known as art computational creativity. It is the computer application of technologies to match, study, and improve human creativity. It is used in artificial intelligence for completing creative tasks on computers such as sculptures, painting, and work fiction. The fast growth of technology in computational creativity and artificial intelligence software uses deep and machine learning algorithms to design more customized experiences for customers. It includes experimentation to develop innovative ideas and thought processes in various platforms such as engineering, architecture, art, music, literature and cuisine. Global Computational Creativity Market is expected to expand at a 19.12% CAGR during the predicted period, to reach USD 0.65 Billion by 2030.

The rise in the adoption of computer-based creative solutions mainly operates the growth of the computational creativity market. The automation of creative tasks boosts market growth. The slower adoption rate of AI-based technology in developing economies affects the computational creativity market growth. The increase in the investment in computational creativity by the adoption of computational creativity in modern applications and startups are predicted to provide main opportunities in the computational creativity market.

The current scenario where covid-19 is spreading in several countries globally has unpleasantly affected various industries. The worldwide pandemic situation has significantly affected the computational creativity market. This market has been impacted positively since the covid-19 outbreak in this pandemic. The computational creativity demand has increased in importance in recent months due to the global lockdowns. The rise in sales of information and technology & telecommunications products is estimated to affect the computational creativity market over the estimated time period. The rise in internet penetration and growing sales of smartphones globally are expected to drive market growth. There is a high possibility that the outbreak of novel coronavirus will have a long-term effect on consumer behavior and lifestyle, which has resulted in the rising adoption of information and communications products and services.

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Market segmentation

By Component

 Solution

• Service

By Deployment Mode

Cloud

On-premise

By Application

Product Designing

Marketing and Web Designing

Photography and Videography

Music Composition

Automated Story Generation

High-End Video Gaming Development

By Industry Vertical

BFSI

IT and telecom

Automotive

Technology

Education

Retail and agriculture

Healthcare

By Region

North America

The U.S.

Canada

Mexico

Europe

UK

Germany

France

Russia

Rest of Europe

Asia-Pacific

China

India

Japan

Australia

Rest of Asia-Pacific

LAMEA

Latin America

Middle East

Africa

Regional analysis

North America was the most growing and leading market, considering the highest share in 2019. The converging of computational creativity with A.I. and the Internet of Things has affected various verticals in the U.S.

The Asia-Pacific regional computational creativity market will record the highest CAGR during the predicted period.

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Industrial development

In 2020, Shutterstock acquired an AI-driven music platform Amper Music to create and customize original music by leveraging over one million individual audio samples recorded by musicians on thousands of unique instruments.

COMPETITIVE ANALYSIS

The Key Players in the Global Computational Creativity Market are IBM (US), Google (US), Microsoft (US), Adobe (US), AWS (US), Autodesk (US), The Grid (US), Canva (Australia), Jukedeck (UK), Humtap (US), Amper Music (US), Automated Creative  (UK), ScriptBook (Belgium), B12 (US), Hello Games (UK), Aiva (Luxembourg), Object AI (Hong Kong), Firedrop  (UK), OBVIOUS (France), Prisma Labs (US), Cyanapse (UK), Lumen5 (Canada), Skylum (UK), Logojoy (Canada), and Runway (US).

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