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Text to Video AI Market Size - By Component (Software, Services), By Deployment (Cloud, On-premise), By Organization Size (Large Enterprises, SMEs), Application, End User & Global Forecast, 2023 – 2032

  • Report ID: GMI5776
  • Published Date: May 2023
  • Report Format: PDF

Text to Video AI Market Size

Text to Video AI Market size was valued at USD 122.5 million in 2022 and is anticipated to witness over 35% CAGR between 2023 and 2032, attributed to the growing adoption of video content tools by businesses and institutions for marketing purposes.attributed to the growing adoption of video content tools by businesses and institutions for marketing purposes.
 

Text to Video AI Market

Video content helps in increasing website traffic, enhance search engine rankings and increase the conversion rates. Businesses are incorporating videos into their marketing strategy to stay ahead of competition and cater to the ever-changing demands of their audience. Businesses are using video content majorly for explaining their products on their websites.

The major factor restraining the growth of the market is the high computing costs of text-to-video AI software. The software needs a huge amount of computing power and has very high computation costs which makes training very unaffordable. The software uses a large amount of data to train, and only large enterprises can build this type of software.
 

Text to Video AI Market Analysis

Text-to-Video AI Market Revenue, By Component,

The services segment accounted for 35% of text-to-video AI market share in 2022. The text-to-video service offers a wide variety of stock films and free music which helps in the quick and simple creation of attractive videos. The services save time of artists with the use of human faces and voiceovers and the AI-powered video generator can easily identify stock videos that can fit with the content.
 

The text-to-video AI market from large enterprises segment held over 65% revenue share in 2022 and achieved a market value of over USD 50 million. Large enterprises are increasingly integrating text-to-video AI solutions & services to manage their large number of dispersed devices. Also, large enterprises are investing heavily in technological competence and business instruments to increase their market share and revenue.
 

Text-to-Video AI Market Share, By Application,

The text-to-video AI market from education segment was reached USD 20 million in 2022 and will cross USD 350 million by 2032. The text-to-video AI solutions help users to efficiently make videos from any data and information. The AI text-to-video tools help in making videos from tales, new articles, lessons, and articles. Also, the proliferation of new technologies including AR, VR, wireless connectivity has made learning no longer limited to the classroom and offer learners the freedom to take way they want to learn.
 

Asia Pacific Text-To-Video AI Market Revenue,

The Asia Pacific text-to-video AI market size is poised to observe around 40% CAGR during the forecast period, owing to the expanding e-commerce sector in the region which has enhanced the competition in the retail markets and increased customer options. Also, the presence of strong internet penetration and increasing inclination towards online shopping in driving the e-commerce business in the region. Companies operating in the market are using exclusive advertising strategies to increase their customer base and are using text-to-video advertising.
 

Text to Video AI Market Share

The major companies operating in the text-to-video AI market include

  • Vimeo
  • Wochit
  • Synthesia
  • pictory.ai
  • GliaCloud
  • InVideo
  • Wave video

Companies operating in the market are forming strategic partnerships and collaborations to develop innovative text-to-video AI solutions to increase their revenue share. The companies are also focused on expanding their market presence through strategic partnerships.
 

This text-to-video AI market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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Market, By Component

  • Software
  • Services

Market, By Deployment

  • Cloud
  • On-premises

Market, By Organization size

  • Large enterprises
  • SMEs

Market, By Application

  • Education
  • Food-beverage
  • Media & entertainment
  • Fashion & beauty
  • Retail & e-commerce
  • Healthcare
  • Travel & hospitality
  • Real estate
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of text to video AI was worth USD 122.5 million in 2022 and will witness more than 35% CAGR from 2023 to 2032, due to the rising usage of video content tools by businesses and institutions for marketing purposes.

The services component segment recorded more than 35% of the market share in 2022 owing to the demand for quick and simple creation of attractive videos.

Asia Pacific market size is poised to record over 40% CAGR during 2023 to 2032, due to the expanding e-commerce sector in the region.

Vimeo, Wochit, Synthesia, pictory.ai, GliaCloud, InVideo and Wave video are some of the prominent text to video AI firms.

Text to Video AI Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 373
  • Countries covered: 17
  • Pages: 200
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