Chicago, May 01, 2023 (GLOBE NEWSWIRE) -- The global Text-to-video AI Market size to grow from USD 0.1 billion in 2022 to USD 0.9 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 37.1% during the forecast period, according to a new report by MarketsandMarkets™. Realistic AI avatars adding social components to videos and making them dynamic is driving the growth of the Text-to-video AI Market.
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309 - Tables
40 - Figures
251 - Pages
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Scope of the Report
| Report Metrics | Details |
| Market size available for years | 2018–2027 |
| Base year considered | 2021 |
| Forecast period | 2022–2027 |
| Forecast units | Value (USD Million/Billion) |
| Segments covered | By component, deployment mode, organization size, end user, vertical and region |
| Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Companies covered | GliaCloud (Taiwan), Designs.ai (Singapore), Pictory (US), Raw Shorts (US), Wochit (US), Vimeo (US), Vedia (US), Lumen5 (Canada), Synthesia (UK), Steve AI (US), InVideo (US), Meta (US), Hour One (Israel), Google (US), Elai.io (US), Peech (Israel), Wave.video (US), DeepBrain AI (South Korea), D-ID (Israel), Yepic AI (UK), Movio (US), KLleon (South Korea), Synthesys (UK), VEED (UK), and Ezoic (US) |
The scope of this report covers the Text-to-video AI Market by component, deployment mode, organization size, end user, vertical and region.
By component, the software segment is estimated to account for the largest market share. The text-to-video AI software tools are AI-powered solutions designed to convert raw input texts or even audio into animated character-centric video content. These solutions provide many features with options to select from various AI avatars, multiple languages, different voices, intended music, built-in video templates, transition effects and up-to-date editing options to generate high-quality videos.
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By deployment mode, the cloud segment is estimated to account for the highest CAGR during the forecast period. Cloud-based deployment offers several benefits to organizations, such as scalability, flexibility in capacity, enhanced collaboration, less maintenance cost, and 24/7 data accessibility of devices anytime, anywhere. Infrastructure-intensive users prefer cloud-deployed solutions, as it offers scalability and agility and provides more functions than on-premises solutions at an affordable cost.
North America is projected to account for the largest market share among other regions in the Text-to-video AI Market, and the trend is projected to continue until 2027. The US and Canada are the leading countries in the region. These countries have sustainable and well-established economic growth, empowering them to increasingly invest in R&D activities, thereby contributing to developing the Text-to-video AI Market.
Market Players
The major vendors covered in the Text-to-video AI Market include GliaCloud (Taiwan), Designs.ai (Singapore), Pictory (US), Raw Shorts (US), Wochit (US), Vimeo (US), Vedia (US), Lumen5 (Canada), Synthesia (UK), Steve AI (US), InVideo (US), Meta (US), Hour One (Israel), Google (US), Elai.io (US), Peech (Israel), Wave.video (US), DeepBrain AI (South Korea), D-ID (Israel), Yepic AI (UK), Movio (US), KLleon (South Korea), Synthesys (UK), VEED (UK), and Ezoic (US).
Frequently Asked Questions (FAQ)
What is text-to-video AI?
Text-to-video AI is an AI technology that takes text as input and produces video as output. The technique is inspired by text-to-image models. According to Raw Shorts, text-to-video is an automated platform that uses AI to scan the main idea of the provided text. Then, it searches for related media assets to create a video timeline and generate voice narration.
Who are the key vendors in the Text-to-video AI Market?
The key vendors operating in the Text-to-video AI Market include GliaCloud (Taiwan), Designs.ai (Singapore), Pictory (US), Raw Shorts (US), Wochit (US), Vimeo (US), Vedia (US), Lumen5 (Canada), Synthesia (UK), Steve AI (US), InVideo (US), Meta (US), Hour One (Israel), Google (US), Elai.io (US), Peech (Israel), Wave.video (US), DeepBrain AI (South Korea), D-ID (Israel), Yepic AI (UK), Movio (US), KLleon (South Korea), Synthesys (UK), VEED (UK), and Ezoic (US).
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