The North America AI Video Generator Market would witness market growth of 19.7% CAGR during the forecast period (2023-2029).
The trend among businesses is to rely more on data, allowing AI companies to expand their range of products and services. In addition, businesses are utilizing modern tools and services to enhance their brand promotion and effectively target their desired audience. While traditional content creation methods remain popular among certain businesses, the utilization of AI video generators is gaining considerable traction. It is anticipated that these tools will become the leading force in the content creation industry globally in the years to come.
The current market is in its early stages and is projected to experience substantial expansion in the upcoming years. The shift in organizational strategy towards utilizing video and social media platforms to connect with customers has significantly contributed to the growth of AI video generator software. In addition, the rise in internet usage has resulted in a surge of individuals utilizing social media platforms.
The Internet is a crucial platform for Canadian consumers to make purchases. Over the past few years, online consumer sales have surpassed traditional retail sales. Canadian retail companies have implemented internet-based systems and wireless technologies to enhance business-to-business and business-to-consumer interactions. Manufacturing companies and government agencies increasingly use the Internet for procurement, particularly small and regular orders. The growing e-commerce will increase the wider utilization of AI video generators to create video advertisements of the products in the most cost-effective way, thus propelling the market growth in the region.
The US market dominated the North America AI Video Generator Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $317.5 million by 2029. The Canada market is poised to grow at a CAGR of 22.5% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 21.4% during (2023 - 2029).
Based on Application, the market is segmented into Marketing, Education, E-commerce, Social Media and Others. Based on Source, the market is segmented into Text to Video, PowerPoint to Video, and Spreadsheet to Video. Based on Component, the market is segmented into Solution and Services. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide AI Video Generator Market is Projected to reach USD 1.5 Billion by 2029, at a CAGR of 20%
The market research report covers the analysis of key stake holders 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
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Companies Profiled
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