New York, United States , Sept. 03, 2024 (GLOBE NEWSWIRE) -- The Global AI Video Generator Market Size is to Grow from USD 551.7 Million in 2023 to USD 2980 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 18.37% during the projected period.
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An AI video generator is a tool that uses various generative artificial intelligence (AI) technology to generate or edit video content using text input from users. Some AI video generators are also able to generate video from other inputs like images, and videos. It can create avatars, generate voices, and animate content without manually editing a video, making the process of video creation a lot faster, more efficient, and with less effort. The global AI video generator market is experiencing rapid advancements and adoption across multiple industries and is revolutionizing video production. The factors driving the market include advancements in artificial intelligence (AI), machine learning (ML), and deep learning (DL) technologies, paired with the rising demand for video content, due to the boom in social media, online marketing, and digital platforms. AI video generators provide advantages such as cost and time savings, with personalized and high-quality video content. However, the market could also face growth restraining factors like high capital investment requirements and concerns over data privacy and security.
Browse key industry insights spread across 191 pages with 110 Market data tables and figures & charts from the report on the "Global AI Video Generator Market Size, Share, and COVID-19 Impact Analysis, By Component (Solution, Services), By Application (Marketing, Education, Social Media, and Others), By Industry (Media & Entertainment, Healthcare & Life Sciences, Retail & Ecommerce, Manufacturing, and Others), By Source (Text-To-Video, PowerPoint-To-Video, And Spreadsheet-To-Video), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The solution segment is anticipated to hold the greatest share of the global AI video generator market during the projected timeframe.
Based on component, the global AI video generator market is divided into solutions and services. Among these, the solution segment is anticipated to hold the greatest share of the global AI video generator market during the projected timeframe. This is because of the capabilities offered by AI video generator solutions. It includes tools and applications that automate video creation, editing, and publishing, based on prompts from users. These are game-changers due to their ability to significantly reduce production time and costs while enhancing the quality and personalization of video content.
The marketing segment is anticipated to hold the greatest share of the global AI video generator market during the projected timeframe.
Based on application, the global AI video generator market is divided into marketing, education, social media, and others. The marketing segment is anticipated to hold the greatest share of the global AI video generator market during the projected timeframe. The marketing segment is witnessing increasing dependence on video content for digital marketing strategies. Businesses are adopting AI video generators for producing a large number of trending content quickly, increasing brand visibility, reach, and engagement.
The media & entertainment segment is anticipated to grow at the fastest pace in the global AI video generator market during the projected timeframe.
Based on industry, the global AI video generator market is divided into media & entertainment, healthcare & life sciences, retail & e-commerce, manufacturing, and others. The media & entertainment segment is anticipated to grow at the fastest pace in the global AI video generator market during the projected timeframe. There is increasing demand for innovative and engaging video content in this industry. These AI video-generating tools accelerate the video creation process, producing high-quality videos inexpensively. Also, the customized content produced according to audience preferences enhances engagement and satisfaction.
The text-to-video segment is anticipated to hold the greatest share of the global AI video generator market during the projected timeframe.
Based on the source, the global AI video generator market is divided into text-to-video, PowerPoint-to-video, and spreadsheet-to-video. Among these, the text-to-video segment is anticipated to hold the greatest share of the global AI video generator market during the projected timeframe. This is mainly because technologies other than text-to-video are not much developed and adopted yet. Also, there are many market players operating in text-to-video, increasing competition and boosting market growth.
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North America is anticipated to hold the largest share of the global AI video generator market over the forecast period.
North America is anticipated to hold the largest share of the global AI video generator market over the forecast period. This region’s market and is driven by the presence of leading market players, and strong tech infrastructure supporting AI apps. High investments and early adoption of these technologies are supporting the region’s dominance. Also, a strong economy and competent tech professionals are boosting the region’s growth.
Europe is expected to grow at the fastest pace in the global AI video generator market during the forecast period. This is because of the growing focus on digital transformation and innovation across Europe. Companies are heavily investing in AI startups. The rising adoption of AI video generators in various industries is accelerating the demand for personalized and engaging content.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global AI Video Generator Market include Lumen5, Pictory, Designs.Ai, Muse.ai, InVideo, FlexClip, Rephrase.ai, Canva, HubSpot's Clip Creator, Elai.io, Synthesia.io, Veed.io, Simplified, HeyGen, Movavi Video Editor, Deepbrain AI, Synthesys, Colossyan, and others.
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Recent Developments
- In February 2024, OpenAI launched an A.I. that instantly generates eye-popping videos. The start-up shared the new technology, called Sora, with a small group of early testers as it tries to understand the potential dangers.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global AI Video Generator Market based on the below-mentioned segments:
Global AI Video Generator Market, By Component
- Solution
- Services
Global AI Video Generator Market, By Application
- Marketing
- Education
- Social Media
- Others
Global AI Video Generator Market, By Industry
- Media & Entertainment
- Healthcare & Life Sciences
- Retail & Ecommerce
- Manufacturing
- Others
Global AI Video Generator Market, By Source
- Text-to-video
- PowerPoint-to-video
- Spreadsheet-to-video
Global AI Video Generator Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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