Richmond, Jan. 03, 2024 (GLOBE NEWSWIRE) -- According to a research report "Text-to-Video AI Market”, by Component (Software, Services), Deployment (On-premise, Cloud), Organization Type (Large Enterprises, Small & Medium Sized Enterprises,), Application (Education, F & B, Fashion & Beauty, Media & Entertainment, Retail & E-Commerce, Health & Wellness, Travel & Hospitality, Real Estate, Others) and Region - Global Forecast to 2030.
Global Text-to-Video AI Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 0.14 Billion |
| Market size value in 2030 | USD 1.3 Billion |
| CAGR (2023-2030) | 32.5% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Deployment, Component, Organization Type, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Text-to-Video AI Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global Text-to-Video AI market has emerged as a key factor in revolutionizing various industries by offering innovative solutions to long-standing challenges. Text-to-video AI is a transformative technology that seamlessly converts written content into engaging visual presentations. In the continuous growing and transforming world where digital communication is increasingly visual, this AI innovation opens up new possibilities for content creators, marketers, and educators.
Fundamentally, text-to-video uses artificial intelligence that converts written text such as blog entries, screenplays, or articles dynamically into a video format. The AI system analyzes the text, finds the important aspects, and converts those elements into related graphic elements. This can involve creating graphics, adding animations, and even adding voiceovers that sound natural.
Major Vendors in the Global Text-To-Video AI Market:
- Meta Platforms, Inc.
- De-Identification Ltd.
- Google LLC
- Synthesia Limited
- Veed Limited
- Movio
- Yepic AI Limited
- Animatron, Inc.
- Ezoic, Inc.
- GliaCloud Co., Ltd
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Technological Advancements in Text to Video AI
One crucial driving factor behind the widespread adoption of text-to-video AI is the growing demand for dynamic and engaging content in the digital landscape. As online platforms continue to dominate communication, businesses, content creators, and educators recognize the necessity of presenting information in visually compelling formats.
The positive impact of this demand on the market is evident in several key aspects. Firstly, text-to-video AI addresses the challenge of catering to diverse audience preferences. With the majority of internet users leaning towards visual content, this technology enables the seamless transformation of textual information into videos, offering a more captivating and accessible experience.
Additionally, the market gains from improved accessibility. This technology allows text to be converted into videos, so it can reach a wider audience, including people who need or prefer to receive information in visual or audio formats. This inclusivity presents text-to-video AI as a technique that improves overall user engagement and is consistent with changing communication trends.
Furthermore, technology helps to make things more affordable. Businesses would be able to cut costs associated with hiring specialist video production personnel by automating portions of the video producing process. The democratization of video content creation promotes innovation and diversity in the market by putting smaller businesses and independent content creators on an even playing field.
Market Dynamics
Drivers:
- Rising demand for visual content.
- The video creation process streamlines workflows and reduces manual effort.
- Increasing dominance of online platforms necessitating diverse content presentation.
- Fast and easy creation of videos without the lengthy production processes of traditional methods.
Opportunities:
- Automated Video SEO which can assist the growing demand for AI-driven solutions that optimize video content for search engines.
- Opportunities to develop text-to-video AI solutions which leverages edge computing for faster processing and reduced latency.
- Increasing demand for text-to-video AI systems which seamlessly support multiple languages, enabling global market penetration.
- Potential opportunities to develop solutions that seamlessly integrate with various digital platforms, enhancing accessibility and usability.
- Possibility of cross platform integrations which can help in integration with different digital platforms that can enhance the accessibility and the usability
Rising Demand for Text-to-Video AIs in Small & Medium Sized Enterprises Applications
The increasing adoption of Text-to-Video AIs in Small & Medium Sized Enterprises applications is a significant driver for the market's growth. Industries such as agriculture, infrastructure inspection, surveying, and logistics are leveraging Text-to-Video AIs to enhance operational efficiency and reduce costs. In agriculture, for instance, Text-to-Video AIs equipped with specialized sensors can monitor crop health, assess field conditions, and optimize resource allocation. Similarly, in infrastructure inspection, Text-to-Video AIs can navigate complex structures, capturing high-resolution images and identifying potential issues, thus reducing the need for manual inspection and minimizing risks. The demand for efficient and cost-effective solutions in these sectors is fueling the deployment of Text-to-Video AIs, driving market growth.
North America dominates the market for Text-to-Video AI.
North America dominates the global text to video AI market specifically United States, emerging as the dominating region in the global Text-to-Video AI market. The region's dominance can be attributed to the presence of key market players, robust research and development activities, and favorable regulatory frameworks that encourage the testing and deployment of Text-to-Video AI technologies. Moreover U.S. being home to the several home grown players along with the established infrastructure has led towards the growth and development in the region. Also The U.S., with the established infrastructure, supportive policies and conducive environment for technological innovation, leads in the adoption of Text-to-Video AI solutions across diverse sectors.
Asia-Pacific, exhibits high growth potential in the Text-to-Video AI market due to the improved e-commerce industry in this area, which has raised customer options and increased competition in the retail markets during the forecast period. The e-commerce industry in the area is also being driven by the widespread internet penetration and a huge consumer base along with the growing trend of online purchasing. Businesses those are successful in the market use text-to-video advertising in conjunction with sophisticated advertising techniques to increase their customer base.
The Software Segment is anticipated to hold the Largest Market Share during the Forecast Period
In the global Text to Video AI in, the Component segment is categorized into: Software, Services,. Among these, the Software segment dominates the market due to the improved e-commerce industry in this area, which has raised customer options and increased competition in the retail markets during the forecast period. The e-commerce industry in the area is also being driven by the widespread internet penetration and growing trend of online purchasing. Businesses that are successful in the market use text-to-video advertising in conjunction with sophisticated advertising techniques to increase their customer base.
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