Dublin, Feb. 21, 2025 (GLOBE NEWSWIRE) — The “Generative Artificial Intelligence (AI) in Music Market Opportunities and Strategies to 2034” report has been added to ResearchAndMarkets.com’s offering.
This report describes and explains the generative artificial intelligence (AI) in music market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global generative artificial intelligence (AI) in music market reached a value of nearly $419.85 million in 2024, having grown at a compound annual growth rate (CAGR) of 53.34% since 2019. The market is expected to grow from $419.85 million in 2024 to $4.3 billion in 2029 at a rate of 59.25%. The market is then expected to grow at a CAGR of 39.32% from 2029 and reach $22.57 billion in 2034.
The global generative artificial intelligence (AI) in music market is fairly fragmented, with a large number of small players in the market. The top ten competitors in the market made up to 24.17% of the total market in 2023. The market fragmentation can be attributed to the presence of small players in different geographies. Jukedeck was the largest competitor with a 5.57% share of the market, followed by T Suno with 2.97%, Aiva Technologies SARL with 2.30%, Boomy Corporation with 2.15%, Amper Music Inc. with 1.89%, Amadeus Code with 1.86%, Beatoven ai. with 1.86%, Hydra II by Rightsify with 1.86%, Vochlea Music with 1.86% and Udio AI with 1.86%.
Growth in the historic period resulted from the increasing adoption of smartphones and increasing disposable income. Factors that negatively affected growth in the historic period were data privacy concerns. Going forward, increasing government support, rising urbanization, rising social media influence, increasing internet penetration and expansion of music streaming services will drive the growth. Factor that could hinder the growth of the generative artificial intelligence (AI) in music market in the future include high operational costs.
The generative artificial intelligence (AI) in music market is segmented by type into song composition and creative process, music production, promotion and marketing and other types. The song composition and creative process market was the largest segment of the generative artificial intelligence (AI) in music market segmented by type, accounting for 39.36% or $165.25 million of the total in 2024. Going forward, the song composition and creative process segment is expected to be the fastest growing segment in the generative artificial intelligence (AI) in music market segmented by type, at a CAGR of 64.07% during 2024-2029.
The generative artificial intelligence (AI) in music market is segmented by software into on-premise and cloud-based solutions. The cloud-based solutions market was the largest segment of the generative artificial intelligence (AI) in music market segmented by software, accounting for 74.69% or $313.6 million of the total in 2024. Going forward, the cloud-based solutions segment is expected to be the fastest growing segment in the generative artificial intelligence (AI) in music market segmented by software, at a CAGR of 61.90% during 2024-2029.
The generative artificial intelligence (AI) in music market is segmented by operating system into Windows, Mac operating systems and other operating systems. The windows market was the largest segment of the generative artificial intelligence (AI) in music market segmented by operating system, accounting for 73.01% or $306.52 million of the total in 2024. Going forward, the Mac operating systems segment is expected to be the fastest growing segment in the generative artificial intelligence (AI) in music market segmented by operating system, at a CAGR of 62.44% during 2024-2029.
The generative artificial intelligence (AI) in music market is segmented by end-user into professionals or audio engineers and mixers, songwriters and production teams, electronic musicians, artists or performers, education institutes, music studios and other end-users. The professionals or audio engineers and mixers market was the largest segment of the generative artificial intelligence (AI) in music market segmented by end-user, accounting for 27.31% or $114.68 million of the total in 2024. Going forward, the electronic musicians segment is expected to be the fastest growing segment in the generative artificial intelligence (AI) in music market segmented by end-user, at a CAGR of 66.37% during 2024-2029.
North America was the largest region in the generative artificial intelligence (AI) in music market, accounting for 40.59% or $170.44 million of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the generative artificial intelligence (AI) in music market will be Asia Pacific and Western Europe where growth will be at CAGRs of 62.18% and 60.72% respectively. These will be followed by North America and South America where the markets are expected to grow at CAGRs of 58.66% and 57.05% respectively.
The top opportunities in the generative artificial intelligence (AI) in music market segmented by type will arise in the song composition and creative process segment, which will gain $1.79 billion of global annual sales by 2029. The top opportunities in the generative artificial intelligence (AI) in music market segmented by operating system will arise in the Windows segment, which will gain $2.79 billion of global annual sales by 2029. The top opportunities in the generative artificial intelligence (AI) in music market segmented by software will arise in the professionals or audio engineers and mixers segment, which will gain $988.31 million of global annual sales by 2029. The top opportunities in the generative artificial intelligence (AI) in music market segmented by end-user will arise in the cloud-based solutions segment, which will gain $3.17 billion of global annual sales by 2029. The generative artificial intelligence (AI) in music market size will gain the most in the USA at $1.35 billion.
To take advantage of the opportunities, the analyst recommends the generative artificial intelligence (AI) in music companies to focus on developing interactive digital platforms, focus on developing generative AI music creation tools, focus on text-prompt-based music creation tools, focus on the song composition and creative process market, focus on the mac operating system segment, focus on the cloud-based market segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, continue to use B2C promotions, participate in trade shows and events, focus on the electronic musicians market segment and focus on targeting urban consumers.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 476 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $419.9 Million |
| Forecasted Market Value (USD) by 2034 | $22570 Million |
| Compound Annual Growth Rate | 49.0% |
| Regions Covered | Global |
Some of the major companies featured in this Generative Artificial Intelligence (AI) in Music market report include:
- Jukedeck
- Suno
- Aiva Technologies SARL
- Boomy Corporation
- Amper Music Inc.
- Amadeus Code
- Beatoven ai.
- Hydra II by Rightsify
- Vochlea Music
- Udio AI
- Ecrett Music
- Soundraw
- Splash Music
- Tencent Holdings Ltd.
- Gaana Ltd.
- Sony Group Corporation
- Universal Audio Inc.
- Moises AI
- OpenAI (OpenAI’s MuseNet)
- Stability AI Ltd.
- SoundCloud Global Limited & Co KG
- SoundCloud
- Deezer SA
- Steinberg Media Technologies GmbH
- Magix Software GmbH
- Endel
- Mubert
- Syntheway
- Jen Music AI
- LUCID Inc.
- Amazon
- Meta Platforms Inc.
- Universal Music Group (UMG)
- KLAY Vision
- Nvidia Corp.
- Coca-Cola Company
- Soundful
- Apple Inc.
- Universal Audio
- Meta Platforms, Inc. (Meta’s AudioCraft)
- HoRNet SRL
- Rootstrap
- HatchWorks
- Sony Music Latin
- Universal Music Latin Entertainment
- Saudi Music Commission
- Anghami Inc.
- Stable Audio.AI
- Waves Audio Ltd.
- Google DeepMind
- YouTube
- Josplay
- AIVA
For more information about this report visit https://www.researchandmarkets.com/r/ocsfi3
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- Generative Artificial Intelligence (AI) in Music Market
