Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- The "Global Text-to-Video AI Market Size, Share & Industry Trends Analysis Report by Component, End User, Vertical, Deployment Type, Organization Size, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
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.
Key Market Players
List of Companies Profiled in the Report:
- 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)
- Ezoic, Inc.
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
Market Growth Factors
Emergence of realistic AI avatars to dynamically add social elements to videos
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.
Applications in a number of languages that help save voiceover budgets
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.
Market Restraining Factors
Issue with personalization and voiceover
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.
Scope of the Study
By Component
- Software
- Services
By End-user
- Marketers
- Social Media Managers
- Educators & Course Creators
- Content Creators
- Corporate Professionals
- Others
By Vertical
- Education
- Travel & Hospitality
- Fashion & Beauty
- Media & Entertainment
- Retail & Ecommerce
- Food & Beverages
- Real Estate
- Others
By Deployment Type
- Cloud
- On-premise
By Organization Size
- Large Enterprises
- Small & Medium-Sized Enterprises
For more information about this report visit https://www.researchandmarkets.com/r/usger
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