North America AI Text Generator Market Size, Share & Industry Trends Analysis Report By Application (Text To Text, Speech/Voice To Text and Image/Video To Text), By Component (Services and Solutions), By Industry, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America AI Text Generator Market would witness market growth of 16.4% CAGR during the forecast period (2022-2028).
Decision-making, performance enhancement, and result prediction are made possible by ML approaches. For a computer system to learn through machine learning, it requires data and the capacity to assess that data. After sufficient data exposure, the computer system gradually learns how to perform a task on its own.
The process of NLG entails building content from scratch. Text recognition, AI writing, chatbots, and machine translation are just a few examples of applications that utilize this technique, which can be carried out by a computer program or algorithm. Automating conversations is made possible by the growing migration to voice-enabled applications and the use of machine learning, natural language, and augmented reality creation.
For example, the AI-powered text generator tool Jasper AI makes it possible to develop online copy and other materials quickly by using a few keywords to describe the desired content. Jasper AI can produce a whole piece of content within just 60 seconds. Many other pieces of software, such as Anyword, Writecream, RytrGrowthBar, etc., are made to carry out similar functions.
The National Institute of Standards and Technology states that as artificial technologies spread throughout society, people will have to deal with both their many advantages and drawbacks. Natural Language Generation (NLG), particularly in the field of Natural Language Processing (NLP), has made significant strides in producing well-written texts. While this subject has been around for a while, GPT-1's introduction, which made use of the Transformer Neural Network framework, paved the way for more advanced text-generators like GPT-2, Grover, Turing-NLG, GPT-3, and the current Google Switch.
The US market dominated the North America AI Text Generator Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $250.2 Million by 2028. The Canada market is poised to grow at a CAGR of 19% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 18% during (2022 - 2028).
Based on Application, the market is segmented into Text To Text, Speech/Voice To Text and Image/Video To Text. Based on Component, the market is segmented into Services and Solutions. Based on Industry, the market is segmented into E-commerce, Media & Entertainment, Social Media & Networking, Healthcare, IT & Telecommunication, Education and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global AI Text Generator Market is Estimated to reach $1 Billion by 2028, at a CAGR of 17.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AI Writer Technologies FZ-LLC, CopyAI, Inc., Frase, Inc. (Copysmith Artificial Intelligence, Inc.), HyperWrite (OthersideAI, Inc.), INK Content, Inc., Jasper, Inc., Humanity Plus Technologies Private Limited (LongShot.AI), OpenAI, L.L.C., Pepper Content Pvt. Ltd., and Writesonic, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Text To Text
- Speech/Voice To Text
- Image/Video To Text
- Media & Entertainment
- Social Media & Networking
- IT & Telecommunication
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- AI Writer Technologies FZ-LLC
- CopyAI, Inc.
- Frase, Inc. (Copysmith Artificial Intelligence, Inc.)
- HyperWrite (OthersideAI, Inc.)
- INK Content, Inc.
- Jasper, Inc.
- Humanity Plus Technologies Private Limited (LongShot.AI)
- OpenAI, L.L.C.
- Pepper Content Pvt. Ltd.
- Writesonic, Inc.
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