The Global AI Video Generator Market size is expected to reach $1.5 billion by 2029, rising at a market growth of 20.0% CAGR during the forecast period.
AI video generators leverage Artificial Intelligence (AI) to produce videos using information from diverse sources such as text, images, and audio files. No specialized equipment, editing studio, or expensive video editing software is necessary for video creation. To produce AI videos, the customer may select an AI video generator. Input desired text, select an avatar, and make the AI video. The AI video generator offers the advantage of eliminating the need for video editing and the user's physical presence in the video.
The AI Video Generator market is experiencing growth due to factors such as the increasing consumption of online video content on video platforms, the rise of short videos, and the need for audio-video content in various industries. The increasing acceptance of visual environments in the business world has led to a rise in demand for video content. Video content is a major driver of online traffic, as people tend to favor visual media over text and images. The increasing demand for video generators can be attributed to factors such as the widespread availability of high-speed internet, the growing number of social media users, and the rising consumer preference for video content.
In today's business landscape, corporations have leveraged AI-powered solutions to facilitate the creation of videos using diverse sources such as text, PowerPoint, or spreadsheets through specialized software. These user-friendly tools have gained widespread acceptance due to their time-efficient features and reduced need for human labor.
Many companies offer an AI video generation platform that enables users to efficiently produce videos featuring Avatars in less time. The product boasts a diverse range of features, such as multiple language support, a screen recording tool, a media library, templates, and more, all designed to enhance the user's experience and increase engagement. The integration of artificial intelligence is causing significant changes in the operational processes of various industries.
The COVID-19 pandemic positively impacted the market, as it led to an increase in the adoption of AI technology in several sectors. The COVID-19 situation has provided valuable lessons to business leaders regarding the importance of digital transformation. The utilization of artificial intelligence and data analytics has the potential to benefit a business greatly. Governments and firms globally have successfully utilized AI technology to combat the virus. This includes using AI for public education, patient screening, contact tracing, and generating online content through AI video generation applications. As a result, the AI video generator market has experienced significant growth during the pandemic.
AI-powered video generation tools have the potential to provide significant advantages to diverse teams across multiple sectors. For example, AI video generators can assist various teams, including marketing and education teams, to produce compelling video content efficiently and effortlessly, regardless of their lack of experience in video production. AI video generator tools can provide several benefits to social media teams. First, videos can enhance user engagement and boost traffic toward social media profiles. The utilization of AI video generators by social media and e-commerce platforms for various reasons is expected to increase market growth.
Due to the growing demand for video content, numerous industry influencers are creating various videos to fulfill this increasing requirement. The rising interest in video content among brands is attributed to the greater attention it receives from people. Compared to other forms of content, there is a greater likelihood for consumers to overlook certain segments of audio and written material. The increasing demand for video creation tools is attributed to the growing popularity of video content. The utilization of AI video generators enables businesses to create top-notch videos in a timely and cost-effective manner, which is likely to drive market growth.
Subscription fees remain a hurdle for emerging influencers and users in the business. Many independent content providers operate without financial backing, working solo to produce their content. The AI video generators offer a premium subscription plan, available monthly or quarterly, to access all necessary features. Also, the high cost of implementing AI technologies is a significant obstacle for smaller companies looking to enter the AI video generator market. The lack of creativity, ethical issues, and the high subscription rate is expected to hinder the market growth.
Based on component, the AI video generator market is segmented into solution and services. The solution segment dominated the AI video generator market with maximum revenue share in 2022. This is because the solution segment encompasses the software or platforms leading vendors offer for AI video generation in the business industry. These solutions can be used 24/7, and the user-friendly interface is highly interactive. In addition, the business offers available in multiple languages, avatars, and templates to enhance user experience and cater to diverse needs.
On the basis of organization size, the AI video generator market is divided into large enterprises and SMEs. The SMEs segment procured a substantial revenue share in the AI video generator market in 2022. This is because video presentations are a crucial tool for businesses as they effectively convey information, particularly for educational and training purposes. Attendees will have the flexibility to access the video at their convenience and revisit the presentation for review purposes. Hence, there has been an increasing demand for effective video-creation tools in the market in recent years.
By source, the AI video generator market is classified into text to video, PowerPoint to video and spreadsheet to video. The PowerPoint to video segment garnered a prominent revenue share in the AI video generator market in 2022. This tool enables businesses and individuals to transform conventional PowerPoint training resources into captivating and innovative videos with voiceover. These sources offer training videos in multiple languages. This software automatically converts PowerPoint notes into AI voiceovers.
Based on the application, the AI video generator market is bifurcated into marketing, education, e-commerce, social media and others. The marketing segment registered the highest revenue share in the AI video generator market in 2022. This is because the AI video generator is a valuable tool for businesses looking to optimize their marketing content quality cost-effectively and efficiently. Traditional video production poses various challenges for businesses, such as high expenses for actors, film equipment, and studio rentals, as well as the need for a substantial budget, adaptability, time management, and oversight throughout the production process.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 423.3 Million |
| Market size forecast in 2029 | USD 1.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2029 |
| Revenue Growth Rate | CAGR of 20% from 2023 to 2029 |
| Number of Pages | 225 |
| Number of Table | 440 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Source, Organization size, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the AI video generator market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region led the AI video generator market by generating the maximum revenue share in 2022. This is due to the high utilization of AI tools credited for the growth of the Asia Pacific region. The emergence of 5G services in emerging economies drives the positive market growth. The market growth is being fueled by the presence of key players in the Asia Pacific region. Furthermore, the growing adoption of artificial intelligence in academic institutions and technology firms is contributing to the market growth in the Asia Pacific region.
Free Valuable Insights: Global AI Video Generator Market size to reach USD 1.5 Billion by 2029
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Meta Platforms, Inc. (Facebook), Lumen5 Technologies Ltd, Musai Inc., synths.video Limited, Raw Shorts, Inc., Pictory Corp., PearlMountain Limited (FlexClip), Inmagine Lab Pte. Ltd. (Designs.Ai), Synthesia Limited and Rephrase.ai
By Application
By Source
By Component
By Organization Size
By Geography
Companies Profiled
The Market size is projected to reach USD 1.5 billion by 2029.
The growing utilization of social media and e-commerce applications are driving the market in coming years, however, Lack of creativity and high subscription cost of AI video generator restraints the growth of the market.
Meta Platforms, Inc. (Facebook), Lumen5 Technologies Ltd, Musai Inc., synths.video Limited, Raw Shorts, Inc., Pictory Corp., PearlMountain Limited (FlexClip), Inmagine Lab Pte. Ltd. (Designs.Ai), Synthesia Limited and Rephrase.ai
The Text to Video segment acquired maximum revenue share in the Market by Source in 2022 thereby, achieving a market value of $623.2 million by 2029.
The Large Enterprises segment is leading the Global AI Video Generator Market by Organization Size in 2022 thereby, achieving a market value of $902.7 million by 2029.
The Asia Pacific market dominated the Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $530.2 million by 2029.
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