The text-to-video ai market size has grown exponentially in recent years. It will grow from $0.24 billion in 2023 to $0.31 billion in 2024 at a compound annual growth rate (CAGR) of 30.7%. The growth observed in the historic period for text-to-video AI can be attributed to the heightened demand for visual content, the surge in social media usage, the integration of accessibility features, increased demand from the entertainment industry, and the focus on enhancing user engagement.
The text-to-video ai market size is expected to see exponential growth in the next few years. It will grow to $0.89 billion in 2028 at a compound annual growth rate (CAGR) of 30.3%. The anticipated growth in the forecast period for text-to-video AI can be attributed to the integration of multilingual capabilities, the expansion of online learning, real-time video generation, enhanced facial expression recognition, and improved visual realism and quality. Major trends expected in the forecast period include the integration with voice and speech synthesis, incorporation with content management systems, adherence to AI ethics and responsible AI practices, cross-platform compatibility, and collaboration with virtual reality (VR).
The anticipated surge in the usage of video content across various domains is poised to drive the expansion of the text-to-video AI market in the future. Video content, encompassing visual material presented in a video format, serves diverse purposes such as entertainment, education, marketing, communication, and information dissemination. Text-to-video AI technology plays a pivotal role in swiftly converting text-based content into video format. This technology stands as a valuable asset for content creators and businesses seeking to augment their video content strategy. Notably, as indicated by a survey conducted by Wyzowl, a UK-based video marketing agency and software company in February 2023, the adoption of video content marketing by businesses has surged to 91%, witnessing a notable increase from the 86% usage rate observed in 2022. Therefore, the escalating utilization of video content is anticipated to propel the growth of the text-to-video AI market.
The escalating utilization of social media platforms is expected to be a driving force behind the burgeoning growth of the text-to-video AI market. Social media platforms, serving as online digital arenas facilitating the creation, sharing, and interaction of user-generated content, have emerged as ideal mediums for sharing Text-to-Video AI-generated content. These platforms, including Facebook, Instagram, Twitter, LinkedIn, and TikTok, provide a direct avenue for content creators and businesses to reach a broad audience with their video content. For instance, data presented by the Search Engine Journal in July 2023 indicates a notable increase of 150 million more social media users between April 2022 and April 2023, marking a 3.2% year-over-year rise. Currently, there are 4.8 billion social media users globally, constituting 59.9% of the global population and encompassing 92.7% of all internet users. Thus, the escalating usage of social media platforms is expected to significantly drive the growth of the text-to-video market.
The ascent of ethical concerns poses a potential challenge that could impede the growth of the text-to-video AI market in the foreseeable future. Text-to-video AI systems have shown the capability to create realistic and compelling videos, which raises apprehensions about their potential misuse for disseminating misinformation or fabricating false content. The authenticity and credibility of generated videos come under scrutiny due to the ease with which these videos can be manipulated to present inaccurate information or deceive viewers. Notably, findings from the Institute of Electrical and Electronics Engineers in April 2023 highlight the potential misuse of AI content generators for malicious purposes, including spreading misinformation, producing offensive or harmful content, and creating deepfake videos for manipulation or blackmail. Consequently, ethical concerns surrounding these capabilities serve as a hindrance to the growth of the text-to-video AI market.
Prominent entities within the text-to-video AI market are actively developing innovative AI technologies, such as Make-A-Video, aimed at simplifying video creation and enhancing the accessibility of video content. Make-A-Video represents a novel AI system enabling users to transform text prompts into concise, high-quality video clips. For instance, Meta Platforms, Inc., a US-based technology company, introduced Make-A-Video in September 2022. This pioneering AI technology is based on generative AI research, utilizing paired text-image data and video footage to comprehend visual and motion aspects of the world. It empowers creators by translating brief text descriptions into vibrant and distinctive videos, encompassing vivid colors, characters, and scenes. Employing a fusion of natural language processing (NLP) and computer vision, Make-A-Video facilitates the generation of videos from textual descriptions, streamlining the video creation process for users.
In October 2021, Vistaprint, a Netherlands-based e-commerce company specializing in digital marketing products, successfully acquired Crello Ltd., a Cyprus-based online graphic design platform, for an undisclosed amount. This strategic acquisition positions Vistaprint to launch VistaCreate, a new creative design service or platform. VistaCreate is designed to offer a range of tools and features for designing and creating various types of visual content, including graphics, images, and multimedia elements. Crello Ltd., with its expertise in online graphic design and text-to-video software, contributes to Vistaprint's efforts to enhance and rebrand its services.
Major companies operating in the text-to-video ai market report are Google LLC, Alibaba Group Holding Limited, Meta Platforms Inc., International Business Machines Corporation (IBM), Baidu Inc., VistaCreate, Vimeo Inc., Animaker Inc., Vedia AI, Vyond Inc., Animoto Inc., Powtoon Ltd., Movio Ltd., Ezoic Inc., Creatopy, Synthesia, Renderforest, De-identification Ltd., Wideo Inc., Wavve, Videolicious Inc., Biteable, Wochit Inc., Raw Shorts, Clipchamp, DeepBrain AI, Moovly, Designs-ai.
North America was the largest region in the text-to-video AI market in 2023. The regions covered in the text-to-video ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the text-to-video ai market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The text-to-video AI market consists of revenues earned by entities by providing text-to-video AI services such automated video generation, content customization, voiceover integration, localization, script import, text-to-speech conversion services, and video marketing services. The market value includes the value of related goods sold by the service provider or included within the service offering. The text-to-video AI market also includes sales of video content creation tools such as lumen5, powtoon, and ani maker, which are used in providing text-to-video AI services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The key components of text-to-video AI encompass software and services. Software denotes a collection of computer programs, data, and instructions enabling a computer system to perform specific operations or functions. Text-to-video AI software plays a crucial role in automatically converting text-based content into video format, employing AI and visual elements to craft compelling multimedia presentations. These solutions are deployed in both cloud and on-premises modes, catering to the needs of large enterprises and small and medium-sized enterprises across various sectors, including education, food and beverage, media and entertainment, fashion and beauty, retail and e-commerce, healthcare, travel and hospitality, real estate, and more.
The text-to-video AI market research report is one of a series of new reports that provides text-to-video AI market statistics, including text-to-video AI industry global market size, regional shares, competitors with a text-to-video AI market share, detailed text-to-video AI market segments, market trends and opportunities, and any further data you may need to thrive in the text-to-video AI industry. This text-to-video AI market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The text-to-video ai market size is expected to see exponential growth in the next few years. It will grow to $0.89 billion in 2028 at a compound annual growth rate (CAGR) of 30.3%. The anticipated growth in the forecast period for text-to-video AI can be attributed to the integration of multilingual capabilities, the expansion of online learning, real-time video generation, enhanced facial expression recognition, and improved visual realism and quality. Major trends expected in the forecast period include the integration with voice and speech synthesis, incorporation with content management systems, adherence to AI ethics and responsible AI practices, cross-platform compatibility, and collaboration with virtual reality (VR).
The anticipated surge in the usage of video content across various domains is poised to drive the expansion of the text-to-video AI market in the future. Video content, encompassing visual material presented in a video format, serves diverse purposes such as entertainment, education, marketing, communication, and information dissemination. Text-to-video AI technology plays a pivotal role in swiftly converting text-based content into video format. This technology stands as a valuable asset for content creators and businesses seeking to augment their video content strategy. Notably, as indicated by a survey conducted by Wyzowl, a UK-based video marketing agency and software company in February 2023, the adoption of video content marketing by businesses has surged to 91%, witnessing a notable increase from the 86% usage rate observed in 2022. Therefore, the escalating utilization of video content is anticipated to propel the growth of the text-to-video AI market.
The escalating utilization of social media platforms is expected to be a driving force behind the burgeoning growth of the text-to-video AI market. Social media platforms, serving as online digital arenas facilitating the creation, sharing, and interaction of user-generated content, have emerged as ideal mediums for sharing Text-to-Video AI-generated content. These platforms, including Facebook, Instagram, Twitter, LinkedIn, and TikTok, provide a direct avenue for content creators and businesses to reach a broad audience with their video content. For instance, data presented by the Search Engine Journal in July 2023 indicates a notable increase of 150 million more social media users between April 2022 and April 2023, marking a 3.2% year-over-year rise. Currently, there are 4.8 billion social media users globally, constituting 59.9% of the global population and encompassing 92.7% of all internet users. Thus, the escalating usage of social media platforms is expected to significantly drive the growth of the text-to-video market.
The ascent of ethical concerns poses a potential challenge that could impede the growth of the text-to-video AI market in the foreseeable future. Text-to-video AI systems have shown the capability to create realistic and compelling videos, which raises apprehensions about their potential misuse for disseminating misinformation or fabricating false content. The authenticity and credibility of generated videos come under scrutiny due to the ease with which these videos can be manipulated to present inaccurate information or deceive viewers. Notably, findings from the Institute of Electrical and Electronics Engineers in April 2023 highlight the potential misuse of AI content generators for malicious purposes, including spreading misinformation, producing offensive or harmful content, and creating deepfake videos for manipulation or blackmail. Consequently, ethical concerns surrounding these capabilities serve as a hindrance to the growth of the text-to-video AI market.
Prominent entities within the text-to-video AI market are actively developing innovative AI technologies, such as Make-A-Video, aimed at simplifying video creation and enhancing the accessibility of video content. Make-A-Video represents a novel AI system enabling users to transform text prompts into concise, high-quality video clips. For instance, Meta Platforms, Inc., a US-based technology company, introduced Make-A-Video in September 2022. This pioneering AI technology is based on generative AI research, utilizing paired text-image data and video footage to comprehend visual and motion aspects of the world. It empowers creators by translating brief text descriptions into vibrant and distinctive videos, encompassing vivid colors, characters, and scenes. Employing a fusion of natural language processing (NLP) and computer vision, Make-A-Video facilitates the generation of videos from textual descriptions, streamlining the video creation process for users.
In October 2021, Vistaprint, a Netherlands-based e-commerce company specializing in digital marketing products, successfully acquired Crello Ltd., a Cyprus-based online graphic design platform, for an undisclosed amount. This strategic acquisition positions Vistaprint to launch VistaCreate, a new creative design service or platform. VistaCreate is designed to offer a range of tools and features for designing and creating various types of visual content, including graphics, images, and multimedia elements. Crello Ltd., with its expertise in online graphic design and text-to-video software, contributes to Vistaprint's efforts to enhance and rebrand its services.
Major companies operating in the text-to-video ai market report are Google LLC, Alibaba Group Holding Limited, Meta Platforms Inc., International Business Machines Corporation (IBM), Baidu Inc., VistaCreate, Vimeo Inc., Animaker Inc., Vedia AI, Vyond Inc., Animoto Inc., Powtoon Ltd., Movio Ltd., Ezoic Inc., Creatopy, Synthesia, Renderforest, De-identification Ltd., Wideo Inc., Wavve, Videolicious Inc., Biteable, Wochit Inc., Raw Shorts, Clipchamp, DeepBrain AI, Moovly, Designs-ai.
North America was the largest region in the text-to-video AI market in 2023. The regions covered in the text-to-video ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the text-to-video ai market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The text-to-video AI market consists of revenues earned by entities by providing text-to-video AI services such automated video generation, content customization, voiceover integration, localization, script import, text-to-speech conversion services, and video marketing services. The market value includes the value of related goods sold by the service provider or included within the service offering. The text-to-video AI market also includes sales of video content creation tools such as lumen5, powtoon, and ani maker, which are used in providing text-to-video AI services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The key components of text-to-video AI encompass software and services. Software denotes a collection of computer programs, data, and instructions enabling a computer system to perform specific operations or functions. Text-to-video AI software plays a crucial role in automatically converting text-based content into video format, employing AI and visual elements to craft compelling multimedia presentations. These solutions are deployed in both cloud and on-premises modes, catering to the needs of large enterprises and small and medium-sized enterprises across various sectors, including education, food and beverage, media and entertainment, fashion and beauty, retail and e-commerce, healthcare, travel and hospitality, real estate, and more.
The text-to-video AI market research report is one of a series of new reports that provides text-to-video AI market statistics, including text-to-video AI industry global market size, regional shares, competitors with a text-to-video AI market share, detailed text-to-video AI market segments, market trends and opportunities, and any further data you may need to thrive in the text-to-video AI industry. This text-to-video AI market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Text-To-Video AI Market Characteristics3. Text-To-Video AI Market Trends and Strategies32. Global Text-To-Video AI Market Competitive Benchmarking33. Global Text-To-Video AI Market Competitive Dashboard34. Key Mergers and Acquisitions in the Text-To-Video AI Market
4. Text-To-Video AI Market - Macro Economic Scenario
5. Global Text-To-Video AI Market Size and Growth
6. Text-To-Video AI Market Segmentation
7. Text-To-Video AI Market Regional and Country Analysis
8. Asia-Pacific Text-To-Video AI Market
9. China Text-To-Video AI Market
10. India Text-To-Video AI Market
11. Japan Text-To-Video AI Market
12. Australia Text-To-Video AI Market
13. Indonesia Text-To-Video AI Market
14. South Korea Text-To-Video AI Market
15. Western Europe Text-To-Video AI Market
16. UK Text-To-Video AI Market
17. Germany Text-To-Video AI Market
18. France Text-To-Video AI Market
19. Italy Text-To-Video AI Market
20. Spain Text-To-Video AI Market
21. Eastern Europe Text-To-Video AI Market
22. Russia Text-To-Video AI Market
23. North America Text-To-Video AI Market
24. USA Text-To-Video AI Market
25. Canada Text-To-Video AI Market
26. South America Text-To-Video AI Market
27. Brazil Text-To-Video AI Market
28. Middle East Text-To-Video AI Market
29. Africa Text-To-Video AI Market
30. Text-To-Video AI Market Competitive Landscape and Company Profiles
31. Text-To-Video AI Market Other Major and Innovative Companies
35. Text-To-Video AI Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Text-To-Video AI Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on text-to-video AI market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for text-to-video AI? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
Markets Covered:1) By Component: Software; Services
2) By Deployment: Cloud; On-Premises
3) By Organization Size: Large Enterprises; Small and Medium-Sized Enterprises
4) By Application: Education; Food and Beverage; Media and Entertainment; Fashion and Beauty; Retail and E-commerce; Healthcare; Travel and Hospitality; Real Estate; Other Applications
Key Companies Mentioned: Google LLC; Alibaba Group Holding Limited; Meta Platforms Inc.; International Business Machines Corporation (IBM); Baidu Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Methodology
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