Global computational creativity market expected to generate around USD 1,115 million by 2026, at a CAGR of around 26.6% between 2019 and 2026. Computational creativity comprises experimentation with the goal of finding innovative ideas and thoughts across different fields, such as art, literature, engineering, etc.

Sarasota, FL -- (SBWire) -- 02/20/2019 --Zion Market Research has published a new report titled "Computational Creativity Market by Deployment (On-Premises and Cloud-Based), by Operating System (Linux, macOS, and Microsoft Windows), and by Application (Marketing & Web Designing, Product Designing, Music Composition, Photography & Videography, and Automated Story Generation): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026". According to the report, global computational creativity market was approximately USD 205 million in 2018 and is expected to generate around USD 1,115 million by 2026, at a CAGR of around 26.6% between 2019 and 2026.

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Computational creativity comprises experimentation with the goal of finding innovative ideas and thoughts across different fields, such as art, literature, engineering, etc. It is usually applied to artificial intelligence (AI) for creating things that were once imagined impossible for computers, such as paintings, sculptures, and works of fiction. The rapid technological advancements in the field of artificial intelligence and computational creativity software utilize deep learning and machine learning algorithms for designing more personalized experiences for consumers. Over the last few years, various developments made related to AI and cloud computing has led to substantial developments in the computational creativity market. The increasing adoption of computer-based creative solutions is likely to drive the global computational creativity market in the future. New platforms and software have allowed more and more people to use computers for their creative pursuits. The computational creativity software is being majorly used for video making, creative writing, and photo and video editing. However, the slower adoption of AI-based technology across developing economies and stiff market competition may restrain the growth of the computational creativity market globally in the future. Currently, the liberty of working on a free platform at any point provides numerous growth opportunities in the computational creativity market in the years to come.

By deployment, the market for computational creativity is segmented into on-premises and cloud-based. The on-premises segment held the largest market share in 2018, owing to the one-time ownership for the licenses for the complete software control and less dependency on connectivity. The cloud-based software segment is expected to grow rapidly due to its affordability, scalability, and availability at desired access points.

By operating system, the market includes Linux, macOS, and Microsoft Windows. Marketing and web designing, product designing, music composition, photography and videography, and automated story generation comprise the application area of the computational creativity market.

By region, North America holds the maximum share of the computational creativity market globally and is anticipated to register a significant growth rate over the forecast time period. This can be attributed to the various technological advancements and increasing use of AI-based solutions for creative pursuits. North America is followed by Europe in terms of share in the computational creativity market globally. The Asia Pacific is expected to be another key region in the global computational creativity market in the future, owing to the growth of smartphone culture that allows new software to be updated for any creative pursuits at low costs or for free.

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Some major players of the global computational creativity market are IBM, Microsoft, Prisma Labs, Inc., Runway AI, Inc., WaveAI Inc., Adobe, Amazon, Inc., Autodesk, Inc., Canva, and Google LLC, among others.

This report segments the global computational creativity market into:

Global Computational Creativity Market: Deployment Analysis

On-Premises
Cloud-Based

Global Computational Creativity Market: Operating System Analysis

Linux
macOS
Microsoft Windows

Global Computational Creativity Market: Application Analysis

Marketing and Web Designing
Product Designing
Music Composition
Photography and Videography
Automated Story Generation

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Global Computational Creativity Market: Regional Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa