Text-to-Video AI Market size to hit USD 1089.33 Mn by 2029 at a CAGR of 33.4 percent – Says Maximize Market Research

Pune, July 03, 2023 (GLOBE NEWSWIRE) — A global Information Technology & Telecommunication business-consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the “Text-to-Video AI Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the Text-to-Video AI Market from a local as well as a global point of view. Over the forecast period, Maximize Market Research expects, the market to grow from USD 144.9 Mn in 2022 to USD 1089.33 Mn in 2029 at a CAGR of 33.4 percent.

Text-to-Video AI Market Report Scope and Research Methodology

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The report is a thorough analysis of the Text-to-Video AI market provided with key findings including Pricing, investments, expansion plans, and physical presence in the Text-to-Video AI market. The bottom-up approach was used to understand the Text-to-Video AI market size estimation and growth rates in the report. The report provides information on the drivers, restraints, opportunities, and challenges of the Text-to-Video AI market. The financial standing, portfolio, technology adoption, merger and acquisition, joint ventures and strategic alliances are included in the competitive environment for the Text-to-Video AI market.

Regional analysis of the Text-to-Video AI market conducted at a local, regional and global level. For a segment-wise analysis of the Text-to-Video AI market, it is divided into Components, Mode of Deployment, Mode of Deployment, End-User and Applications. The report also provides information on the emerging regions that are expected to be major markets for the Text-to-Video AI market.

The report includes primary and secondary collection techniques with qualitative and quantitative approaches for the analysis of the Text-to-Video AI market. The primary method involves Surveys, questionnaires and telephonic interviews with market leaders, market experts and business owners. The secondary method includes financial reports, annual reports, press releases, white papers, etc. SWOT analysis is used to identify the threats and weaknesses of the market while PORTER is used to understand the competitive intensity of the industry in the Text-to-Video AI Market.

Text-to-Video AI Market Overview

The process of converting data from text to video format by using artificial intelligence technology is known as text-to-video. It is expected that the technology has been creating a new option or eventually replacing conventional video production. The Text-to-Video AI Key Players including Microsoft, Google and Facebook invested a large amount into artificial intelligence technology and this boosted the market expansion. The increasing demand for video content and rapid technological advancements are the driving factors for the Text-to-Video AI Market growth.

Text-to-Video AI Market Dynamics

Stable dispersion is excellent as well as stable recordings through a man-made intelligence-fuelled altering procedure. The steady dissemination upgrades explicit highlights in a video such as tones, and surfaces and that’s only the tip of the iceberg. As of late, a significant Text-to-Video man-made intelligence Key Organization Nvidia fostered a generative man-made intelligence model in light of stable Dissemination. As a result, the stable diffusion in the text-to-video AI to generate high-resolution videos drive the Text-to-Video AI Market growth.

The emergence of hyper-personalization and big tech interest in AI and image, video and 3d creations through AI generative enhanced user engagement, time and cost efficiency, rapid technological advancements, marketing and advertising applications and growth of the education and training sector are also the driving factors for the market growth. The Computational challenges, Lack of high-quality datasets and Vagueness around video captioning are the restraining factor of the regional market growth.

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Text-to-Video AI Market Regional Insights

North America is expected to dominate the Text-to-Video AI Market during the forecast period. There is a significant increase in the demand for video content across several industries in the region. Businesses, marketers and content creators are growingly using videos to engage with their audience. Text-to-Video AI solutions offer an efficient and automated way to convert text-based content into engaging videos. As a result, increasing demand for video content drives the regional market growth. The advancements in artificial intelligence (AI) and natural language processing (NLP), growing emphasis on personalized and interactive content, increasing demand for video marketing, rise in e-learning and online education and technological infrastructure and digital transformation are also the driving factors for the regional market growth.

Asia Pacific is expected to grow at the highest CAGR of 35.2 percent for the Text-to-Video AI Market. The increasing demand for creative videos in education, businesses and other sectors and the rising digital advertising industry, growth in the e-commerce industry, and adoption of artificial intelligence technologies are the boosting factors for the regional market growth.

Text-to-Video AI Market Segmentation

By Component

• Software
• Services
• Consulting Services
• Integration Services
• Support and Maintenance Services

On the basis of the Component, the market is categorized into Software, Services, Consulting Services, Integration Services, Support and Maintenance Services. Software component dominated the Text-to-Video AI Market in 2022 and is expected to continue their dominance over the forecast period.

The software component offers the necessary functionality and features for generating, editing, and customizing videos based on textual input. The software component of the Text-to-Video AI market empowers businesses and individuals to efficiently create engaging videos from textual content. It eliminates the requirement for manual video production processes, saving time and resources. By leveraging AI algorithms, the software has been generating videos with high-quality visuals, synchronized audio and relevant scene transitions.

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By Mode of Deployment

• On-premise
• Cloud

By Organization Type

• Large Enterprises
• Small and Medium-Sized Enterprises

By End User

• Marketers
• Social Media Managers
• Educators & Course Creators
• Content Creators
• Corporate Professionals
• Others

By Applications

• Education
• Food & Beverages
• Media & Entertainment
• Fashion & Beauty
• Retail & E-commerce
• Health & Wellness
• Travel & Hospitality
• Real Estate
• Other

Based on the Applications, the market is segmented into Education, Food & Beverages, Media & Entertainment, Fashion & Beauty, Retail & Ecommerce, Health & Wellness, Travel & Hospitality, Real Estate and Others. Media & Entertainment is expected to have a significant CAGR for the Text-to-Video AI Market during the forecast period. In the Media & Entertainment industry, Text-to-Video AI technology enables the automatic generation of video content from text-based sources including articles, blogs, and social media posts. This application of Text-to-Video AI provides various benefits to media companies, content creators and publishers.

Text-to-Video AI Key Competitors include:

• GliaCloud
• Designs.ai
• Pictory
• Raw Shorts
• Wochit
• Vimeo
• Vedia
• Lumen5
• Synthesia
• Steve AI
• InVideo
• Meta
• Hour One
• Google
• Elai.io
• Peech
• Wave Video
• DeepBrain AI
• D-ID
• Yepic AI
• Movio
• KLleon
• Synthesys
• VEED
• Ezoic

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Key questions answered in the Text-to-Video AI Market are:

• What is Text-to-Video AI?
• What is the CAGR of the Text-to-Video AI Market?
• What was the Text-to-Video AI Market size in 2022?
• What is the expected Text-to-Video AI Market size by the end of the forecast period?
• What are the global trends in the Text-to-Video AI Market?
• What are the major challenges that the Text-to-Video AI Market could face in the future?
• What growth strategies are the players considering to increase their presence in Text-to-Video AI?
• What are the upcoming industry applications and trends for the Text-to-Video AI Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for Text-to-Video AI Market?
• Who are the leading companies and what are their portfolios in Text-to-Video AI Market?
• Who dominates the largest market share in Text-to-Video AI Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2023−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by Component, Mode of Deployment, Mode of Deployment, Organization Type, End-User, Applications and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations

Maximize Market Research is leading Information Technology & Telecommunication research firm, has also published the following reports:

AI in Video Analytics Market – The market size is expected to reach USD 82.64 Bn by 2029 at a CAGR of 31.92 percent during the forecast period. The market is expected to be driven by the growing adoption of video surveillance in commercial buildings and the increasing use of high-speed internet connectivity.

Video Streaming Market – The market size is expected to reach USD 1427.95 Bn by 2029 at a CAGR of 18.31 percent during the forecast period. The market is expected to be driven by the increasing population adopting social media and rising internet connectivity and growing adoption of live-streaming platforms.

Cloud Media and Entertainment Content Management Market – The market size is expected to reach USD 26.28 Bn by 2029 at a CAGR of 10.56 percent during the forecast period. The market is expected to be driven by the increasing adoption of connected devices and technological developments in cloud-based solutions.

Video Surveillance Storage Market – The market size is expected to reach USD 12.91 Bn by 2029 at a CAGR of 6.1 percent during the forecast period. The market is expected to be driven by the increasing need for highly efficient and Al vision-based surveillance systems and growing government initiatives to improve public safety.

Digital Video Advertising Market – The market size is expected to reach USD 520.83 Bn by 2029 at a CAGR of 41.1 percent during the forecast period. The market is expected to be driven by the increasing usage of digital media and growing adoption from the E-commerce sector.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.