Market Introduction
Last updated
Last updated
Artificial Intelligence seeks to simulate human cognition, learning and mimics. Can Art be created without human intervention? AI researchers are currently investigating this question. AI Art got a significant level of traction in the past few years and is set to benefit from the boom of NFTs and the Metaverse, where immersive digital experiences will be dominant. Sizing the AI Art market may be a challenge, but the computational creativity (CC) market could be used as a proxy. CC was a c. $450M market in 2021 and is expected to grow at c.27% CAGR in the next four years, making it an attractive opportunity for investors. This trend can be seen looking at Figure 1.
The Metaverse is a $31 billion market in 2021 growing at a c.42%CAGR in the next 10 years and is poised to be the environment where AI-based creativity will thrive. The Metaverse market size can be seen looking at Figure 2.
The estimates of CC’s market size do not consider the “Metaverse Effect”, i.e., the opportunities created by the Metaverse for AI-based Creativity. By including the “Metaverse Effect”, the CC market would be projected to reach c.$55 billions by 2025, growing at c. 69% CAGR. This estimation can be seen looking at Figure 3, assuming incremental CAGR equal to Metaverse market CAGR.
