Global Generative Artificial Intelligence AI In Music Market Research 2024, Forecast To 2033

The generative artificial intelligence (AI) in music market has experienced exponential growth, expanding from $0.27 billion in 2023 to $0.34 billion in 2024 with a compound annual growth rate (CAGR) of 28.4% in the historic period. This growth is driven by increased computing power enabling sophisticated AI algorithms, creative experimentation fostering new musical expressions, availability of vast datasets enhancing AI learning capabilities, personalized content creation tailored to individual preferences, and the utilization of big data for comprehensive music analysis. Looking ahead, the market is poised for continued exponential growth, projected to reach $0.95 billion by 2028 with a CAGR of 28.8%. Anticipated growth drivers include deeper integration of AI tools into creative workflows, adherence to ethical and regulatory standards in AI-driven content generation, scalability and cost-effectiveness in music production, and the emergence of AI-powered tools for content discovery. Major trends expected in the forecast period encompass advancements in deep learning techniques optimizing music composition, collaborative efforts blending AI capabilities with human creativity, new monetization models for AI-generated music, real-time AI algorithms facilitating dynamic music creation, and innovations enabling hyper-realistic musical experiences.