Generative AI in Music Market: How Key Players Are Enhancing Music AI Tech

The global generative AI in music market size was estimated at USD 440.0 million in 2023 and is anticipated to reach USD 2,794.7 million by 2030, growing at a CAGR of 30.4% from 2024 to 2030. The market growth is primarily driven by technological advancements that have made artificial intelligence (AI) more accessible, efficient, and capable of producing high-quality music.

The rise of on-demand music platforms and customized content is another key factor driving the market. AI is increasingly being used to curate personalized playlists and generate music tailored to individual user preferences, enhancing engagement and platform loyalty. Furthermore, AI-generated music is widely adopted for background scores in films, video games, and advertisements, where demand for custom, adaptable soundtracks is growing. The scalability and speed of AI-generated music allow content creators and distributors to produce vast amounts of unique music efficiently, making generative AI an integral part of digital music production and consumption.

The expansion of generative AI applications across education, marketing, and interactive entertainment is further boosting demand. In music education, AI tools assist students in learning composition and music theory through interactive platforms. In marketing, AI-generated music helps craft memorable and engaging advertisements, while the gaming industry leverages AI to produce dynamic soundtracks that respond to player actions, enhancing immersion. As more industries recognize the potential of AI in music creation and utilization, investment, innovation, and adoption in this market are accelerating rapidly.

Key Market Trends & Insights

• North America dominated the generative AI in music market, accounting for 38.6% share in 2023.
• The U.S. market is projected to grow significantly over the forecast period.
• By component, the software segment led the market, accounting for 65.25% of global revenue in 2023.
• By technology, the transformers segment held the largest market revenue share in 2023.
• By application, the automated music composition segment accounted for the largest market revenue share in 2023.

Download a free sample PDF of the Generative AI in Music Market Intelligence Study, published by Grand View Research.

Market Performance

• 2023 Market Size: USD 440.0 Million
• 2030 Projected Market Size: USD 2,794.7 Million
• CAGR (2024–2030): 30.4%
• North America: Largest market in 2023
• Asia Pacific: Fastest growing market

Competitive Landscape

Key players in the market have employed strategies including product launches, partnerships, expansions, mergers and acquisitions, and collaborations to strengthen their market positions. Companies are leveraging AI-driven innovations to enhance market penetration, improve product capabilities, and address diverse user needs.

For example, in September 2024, Stability AI, a UK-based generative AI company, launched Stable Audio, an AI-driven music and sound generation tool. The platform allows users to create audio tracks from descriptive text prompts, offering a free version for 45-second tracks and a ‘Pro’ subscription for 90-second tracks, using models trained on music and metadata from AudioSparx.

Key Companies

• Aiva Technologies SARL
• Boomy Corporation
• Ecrett Music
• Google LLC
• International Business Machines Corporation (IBM)
• LANDR
• Meta
• Microsoft
• OpenAI
• Stability AI

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Conclusion

The generative AI in music market is experiencing exponential growth, driven by the convergence of technological innovation, personalized content demands, and diverse industry applications. North America leads the market, while Asia Pacific is emerging as the fastest-growing region due to rising adoption of AI technologies. With the increasing use of AI in music composition, education, marketing, and interactive entertainment, companies are investing in software development, cloud-based solutions, and AI-driven creative tools to capture market opportunities. As AI continues to revolutionize music creation and consumption, the market is expected to witness sustained expansion, offering significant growth potential for content creators, platform providers, and technology innovators globally.