Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global AI Text Generator Market size is expected to reach $1 billion by 2028, rising at a market growth of 17.8% CAGR during the forecast period.
The Text To Text segment acquired maximum revenue share in the Global AI Text Generator Market by Application in 2021 thereby, achieving a market value of $479.8 Million by 2028. Due to technology behemoths increasingly canceling conferences and events, which has led to the conducting of digital conferences. Solutions for speech/voice-to-text transcription are very accurate, inexpensive, and quick. These technologies are being used by numerous businesses to speed up operations.
The Services segment is generating highest revenue share in the Global AI Text Generator Market by Component in 2021 thereby, achieving a market value of $790.1 Million by 2028. It consists of a range of services offered to businesses that use text-generation AI systems. These services help companies adopt and use systems based on machine learning and natural language generation effectively, maximizing their ability to generate text. Over the next few years, demand is projected to rise due to the notable expansion of the use of AI test-generation technologies across a variety of industries.
The Media & Entertainment segment is showcasing a CAGR of 16.6% during (2022 - 2028). Material creators can transform insights from readily available data into worth publishing structured content by using data journalism. The publishers employ NLG software for data-driven journalism, sports scores, criminal blotters, stock table earnings, pollution monitoring, and election reporting, freeing up writers to work on more imaginative and interesting journalism content.
The North America market dominated the Global AI Text Generator Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $346.8 Million by 2028. The Europe market is exhibiting a CAGR of 17% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 18.8% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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