The Global Text-to-Video AI Market size is expected to reach $961.9 Million by 2028, rising at a market growth of 36.3% CAGR during the forecast period.
Text-to-video Ai is an AI system that converts text instructions into brief, high-quality video segments. The algorithm learns the environment based on paired text-image data and how it moves based on video footage with no related text. Artificial intelligence (AI) is rapidly becoming a game-changer for video makers. AI is revolutionizing the production and consumption of video content by automating menial activities and boosting the creative process.
By utilizing AI text-to-video generators, a business can assist customers in gaining a deeper understanding of its products. When consumers comprehend the product's purpose and benefits, they are more likely to purchase it. The data indicates that more than half of buyers learn about a product or service through video content, and many internet users seek product-related videos before visiting a store.
Consumers would like to be as informed as possible about the product. AI text-to-video converters can properly articulate how the product functions, what it can be used for, how it appears, and how it achieves its purpose. The videos can be informative and demonstrate how the product meets the audience's demands.
To attract the attention of prospective buyers on social media platforms, AI-generated short movies might be utilized. Traditional video production may necessitate a competent camera operator, good audio quality, a high-definition film, and even travel. All of these can be costly or impossible for a young firm. Yet text-to-video generators can let companies quickly create high-quality content without spending a lot of money on equipment
Governments and commercial companies worldwide have learned to employ AI for various applications, which is anticipated to drive the text-to-video AI market during the pandemic. Because of the necessary WFH (work-from-home) policy imposed by the pandemic, it is anticipated that the COVID-19 outbreak will drive the overall growth of next-generation technology areas, such as artificial intelligence-based products. Likewise, digital companies are broadening their product offerings & services to increase their global availability. With the advancement of technology, it is anticipated that new services and capabilities will be added to text-to-video AI, accelerating market expansion during and after the pandemic.
In domains such as sales, customer service, contact centers, and company management, avatars can perform corporate training and mentorship. Based on their neural networks, AI avatars can readily converse with humans & make predictions according to prior interactions, which can be useful in situations such as delivering presentations and answering questions during training. These benefits of AI avatars leading to their wide acceptance are further predicted to support the growth of the text-to-video AI market.
English is a universal language frequently used when marketing to a global audience, speaking to potential customers in their home tongue may be even more beneficial; normally, translating and re-narrating a film would be expensive and time-consuming. Still, this process may take only a few minutes with the correct AI video generator tools. Certain platforms will quickly become multilingual due to the auto-translation function and numerous available voices. This benefit provided by some of the text-to-video AI platforms is estimated to support market expansion.
AI text-to-video producers are frequently limited by various pre-established templates, styles, and animations. This could lead to a generic appearance lacking the special touches that a person could add. Each AI text-to-video generator software offers various pre-made, editable templates. Because one doesn't have to start from scratch, this saves time throughout the creative process. To fit particular branding requirements and styles, however, customization possibilities might need to be improved. These issues with text-to-video AI may restrict its adoption, hampering the market expansion during the forecast period.
Based on component, the text-to-video AI market is segmented into software and services. In 2021, the software segment held the highest revenue share in the text-to-video AI market. The text-to-video AI tools are AI-powered solutions that transform raw input words or even audio into character-centric animated video output. These systems offer a variety of capabilities, including the ability to choose from various AI avatars, several languages, different voices, selected music, built-in video themes, transition effects, and up-to-date editing tools to create high-quality movies.
On the basis of deployment, the text-to-video AI market is divided into on-premises and cloud. In 2021, the cloud segment witnessed the largest revenue share in the text-to-video AI market. Cloud-based deployment of text-to-video AI provides multiple benefits to the user, including scalability, flexibility in capacity, improved cooperation, reduced maintenance costs, and 24/7 data accessibility of devices at any time. As a result, cloud-deployed solutions are preferred by infrastructure-intensive customers because they offer scalability, agility, and more features than on-premises alternatives.
By organization size, the text-to-video AI market is classified into large enterprises and small- & medium-sized enterprises. The SMEs segment acquired a substantial revenue share in the text-to-video AI market in 2021. By providing innovative & advanced solutions, small and medium-sized enterprises (SMEs) worldwide focus on carving out a position in the market. The demand for text-to-video AI solutions & services is rising among small and medium-sized businesses (SMBs) in the business sector to captivate customers with high-performance video tools.
Based on the end-user, the text-to-video AI market is bifurcated into marketers, social media managers, educators & course creators, content creators, corporate professionals and other end users. The social media managers segment acquired a substantial revenue share in the text-to-video AI market in 2021. AI video generator that employs sophisticated natural language processing (NLP) & machine learning (ML) algorithms to generate high-quality videos from the text in several languages without the need for actors, cameras, or microphones. It is ideal for small businesses that require additional material but cannot afford to hire specialists and for individuals who want to create videos for personal use.
On the basis of vertical, the text-to-video AI market is classified into education, food & beverages, media & entertainment, fashion & beauty, retail & ecommerce, health & wellness, travel & hospitality, real estate and other verticals. The media & entertainment segment recorded a remarkable revenue share in the text-to-video AI market in 2021. The making of videos is now a simple process because to AI. Now, with the assistance of text-to-video AI, marketers, and content creators may create films using only text or from previously published articles and blogs. Without a large budget, editors, or a filmmaking crew, this is possible.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 113 Million |
| Market size forecast in 2028 | USD 961.9 Million |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 36.3% from 2022 to 2028 |
| Number of Pages | 323 |
| Number of Table | 580 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, End User, Deployment Type, Organization Size, Vertical, 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 text-to-video AI market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2021, the North America region led the text-to-video AI market by generating the maximum revenue share. North America is home to developed economies like the US and Canada, with sound infrastructures. Major participants in the AI video-generating space have made product releases in North America, including Meta and Google. Due to the region's technical advancements, North America will see the strongest growth rate. The rising use of AI tools in the nations is also anticipated to fuel the market's expansion.
Free Valuable Insights: Global Text-to-Video AI Market size to reach USD 961.9 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Vimeo.com, Inc., Meta Platforms, Inc., De-Identification Ltd., Google LLC (Alphabet, Inc.), Synthesia Limited, Veed Limited, Movio, Yepic AI Limited, Animatron, Inc. (Wave.video), and Ezoic, Inc.
By Component
By End User
By Vertical
By Deployment Type
By Organization Size
By Geography
The global Text-to-Video AI Market size is expected to reach $961.9 Million by 2028.
Applications in a number of languages that help save voiceover budgets are driving the market in coming years, however, Issue with personalization and voiceover restraints the growth of the market.
Vimeo.com, Inc., Meta Platforms, Inc., De-Identification Ltd., Google LLC (Alphabet, Inc.), Synthesia Limited, Veed Limited, Movio, Yepic AI Limited, Animatron, Inc. (Wave.video), and Ezoic, Inc.
The Marketers segment acquired maximum revenue share in the Global Text-to-Video AI Market by End User 2021 thereby, achieving a market value of $264.6 Million by 2028.
The Education segment is leading the Global Text-to-Video AI Market by Vertical 2021 thereby, achieving a market value of $241.9 Million by 2028.
The North America market dominated the Global Text-to-Video AI Market by Region 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $367.1 Million by 2028.
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