New York, March 16, 2023 (GLOBE NEWSWIRE) -- The global AI video generator market accounted for USD 415 million in 2022. It is predicted to reach a valuation of USD 2,172 million by 2032, growing at a CAGR of 18.5% between 2023 and 2032. AI video generator is a tool that allows users to create video from any written copy using artificial intelligence software. AI video generator saves time by editing videos, which is the main factor for the high demand for AI video generator tools in the market.
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Key Takeaway:
- By component, the solution segment generated the largest revenue share of 53% in 2022.
- By enterprise size, the large enterprise segment generated the largest revenue share of 64% in 2022.
- By source, the text/blog/article to video segment generated the largest revenue share of 36% in 2022.
- By End-User, the marketing segment generated the largest revenue share of 28% in 2022.
- In 2022, Asia Pacific dominated the market with the highest revenue share of 32%.
- North America is expected to grow at a significant CAGR from 2023-2032.
For example, Synthesis AI is an AI video generator that allows users to create engaging video content with human-like avatars by simply typing any text. Also, it enables users to create videos from any written document, and due to this, this AI video generator is more prevalent among individuals.
Furthermore, AI video generator saves time by editing the video itself, which is the main factor for the high demand for AI video generator tools in the market.
Factors affecting the growth of the AI video generator market
There are several factors that can affect the growth of the AI video generator market. Some of these factors include:
- Technological advancements: With increasing digitalization, technological advancements such as the Internet of Things(IoT) and cloud services are driving the demand for AI video generator tools in the global market.
- Increasing use in IT & Telecommunication Industries: AI video generator tools are useful for converting data from text form to video form, which is useful in employee training. Due to this, IT & Telecommunication industries are rapidly adopting these tools to save training costs and time, which is anticipated to impact market growth positively.
- Growing demand in small & medium enterprises: Small & medium enterprises are adopting AI video generator tools to increase business and stay competitive in the market. Also, increasing globalization and technological advancements in AI video generator tools are driving the need for AI video generator tools in such enterprises.
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Top Trends in Global AI Video Generator Market
Companies in IT and telecom are adopting AI video generators for employee training. They can convert their text data into video forms. Organizations are also creating AI video generator tools focused on providing high-quality, cost-effective services that meet high consumer demand. AI video generators are being used by educational organizations for teaching effectiveness. These trends are boosting the growth in the AI video generator market.
Market Growth
The increasing adoption of smartphones and technological advancements are the main driving factors for the growth of the global AI video generator market. The growth of the market is fueled by the increasing use of video content and the increasing demand for audio-video materials in various fields.
Over three billion people worldwide are spending more and more time watching video content, boosting the demand for AI video generators in the market. The increasing use of video content and demand for audio-video materials in various fields propels the market's growth.
Regional Analysis
The AI video generator market was dominated by Asia Pacific, which acquired the most significant revenue share of 32% in 2022. The growth of the region is attributed to the high use of AI tools in China and Singapore.
China is the world's leader in AI video generator tools. The internet is used by approximately 750 million people in China, creating a large amount of digital data. The market is also being driven by the rise of 5G services in emerging countries like India, Japan, and Singapore. Market growth is being fueled by the presence of key players like Cinnamon AI and Kellton Tech in the Asia Pacific region.
North America will experience the fastest growth rate due to technological advances in the region. The market's growth is also expected to be driven by the increasing adoption of AI tools in the US, UK, and other countries. Private investments were made by tech companies in the United Kingdom in AI technology.
Competitive Landscape
Companies are adopting marketing strategies such as merging and acquisition to stay competitive in the market. Several key companies in the AI video generator market are focusing on technological advancements in AI tools for providing better services.
Several major key players in the AI video generator market are Synthesia LLC., Lumen5 Technologies Ltd, Rephrase Corp, Synths.video, Muse.ai, Raw Shorts, Inc., Pronto, Designs Ai, Microsoft Corporation, Google LLC, IBM Corporation, Meta Platforms, Inc., etc.
Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 415 million |
| Market Size (2032) | USD 2,172 million |
| CAGR (from 2023 to 2032) | 18.5% |
| Asia Pacific Revenue Share | 32% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Technological advances such as the internet of things (IoT), and cloud-based AI video generator tools are driving the adoption of these tools within educational institutions and e-commerce sectors. The market for AI video generation is also being driven by the increased use of comedy memes, comedy gifs, and messaging apps.
The increasing use of visuals in marketing companies to fulfill consumer demand is also driving the need for AI video generator tools. Also, written paper copies, articles, and blogs are not easy to handle. Therefore, various companies are translating their data from text forms to video forms to overcome issues regarding written content. Also, the growing number of viewers of educational videos, tutorials, and sports clips is propelling market development.
Market Restraints
The subscription charges for using AI video generator tools are very high, which is a primary restraining factor for the AI video generator market. Also, sometimes AI software cannot detect entered data in text form, which negatively impacts market growth.
Market Opportunities
Consumers are increasingly shifting to video content due to digitization. They are easier to understand and more accessible. Market leaders are expected to focus on standard video content in order to provide accurate and detailed product information.
Due to growing demand from marketing and educational institutions, the market for AI video generators is booming. Profitable growth opportunities are expected to be created by the rapid adoption of smartphones as well as the introduction of the internet of things (IoT).
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Report Segmentation of the AI Video Generation Market
Component Insight
The market's largest market share was based on components. This market will continue to be dominated by the solution segment during the forecast period. The AI video generator market is focused on providing quick and accurate solutions for consumers as well as technical capabilities that solve more problems with AI video generator tools. This is the main growth driver of this market.
AI video generator solutions give companies unique opportunities in the market and help them gain a strategic advantage. Due to a greater focus on improving the services provided to AI video generator users, the Services segment will grow at the fastest rate of CAGR over the forecast period. The services market is the link between consumers and companies. This helps to increase the company's business and provides better services for users.
Enterprise Size Insight
On the basis of enterprise size, the large enterprise segment was dominant in the market, with the largest market share in 2022. Due to increasing consumer demand and increasing globalization, large enterprises are adopting AI video generator tools to meet high consumer demand. AI video generator tools help simplify monotonous tasks and reduce the time required to complete tasks in large enterprises.
Source Insight
On the basis of source, the text/blog/article to video segment was dominant in the market, with the largest market revenue share in 2022. The increasing need for video-based content in the media & entertainment industry propels the segment's growth. In addition, consumers prefer video content because video contents are easy to adopt and understand as compared to texts, blogs, or articles.
End-User Insight
On the basis of end-user, the marketing segment was dominant in the market, with the largest market revenue share in 2022. Demand for AI video generators in the marketing industry is high due to the increasing focus of marketing companies on video-based content. In addition, companies such as Facebook and Apple are using Adobe AI video-generating tools to advertise their products effectively.
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Market Segmentation
By Component
- Solutions
- Services
By Enterprise Size
- Small & Medium Enterprises
- Large enterprises
By Source
- Text/Blog/Article to Video
- PowerPoint to Video
- Spreadsheet to Video
By End-User
- Marketing
- E-Commerce
- Educational Institutions
- IT & Telecommunication
- Healthcare
- Other End-User
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Market Players
- Synthesia LLC.
- Lumen5 Technologies Ltd
- Rephrase Corp
- Raw Shorts, Inc.
- Pronto
- Designs Ai
- Microsoft Corporation
- Google LLC
- IBM Corporation
- Meta Platforms, Inc.
- Other Key Players
Recent Development of the AI Video Generator Market
- On 29 September 2022, Meta announced Make-A-Video, an AI-powered video generator that can create novel video content from text.
- In January 2022, Microsoft announced the acquisition of American video game developer and holding company Activision Blizzard.
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- Video Editing Software Market is estimated to be worth USD 3,408 Mn by 2032, with a CAGR of 5.8% between 2023 and 2032.
- AI Voice Generator Market was valued at USD 1,210 Mn in 2022, growing at a CAGR of 15.4% between 2023 and 2032.
- Artificial Intelligence Market is estimated to reach USD 2745 billion by 2032, growing at a CAGR of 36.8% between 2023 and 2032.
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