Global Text to Video AI Market By Component (Software and Services), By Deployment Mode (Cloud and On-Premise), By Organization Size (Large Enterprises and SME’s), By End-User, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Text to Video AI Market size is projected to surpass at USD 2,479.7 Million by 2032 from USD 323.7 Million in 2023 and it is growing at a CAGR of 26.2% from 2022 and 2032.

The text-to-video AI is a system that converts text orders into short, first-rate video sections. The algorithm studies the surroundings based on combined text-image data and how it changes based on video footage with no associated text. AI is vastly becoming a game changer for video makers. Artificial Intelligence is transforming the manufacture and utilization of video content by computerizing activities and propelling creative procedures. This technology uses AI technology to convert text descriptions into corresponding videos. It is able to automatically generate video content without human intervention.

Note: Actual Numbers Might Vary In The Final Report

Key Takeaways

• Market Growth Projection: The global Text-to-Video AI market is anticipated to grow from USD 256.5 million in 2022 to a projected USD 2,479.7 million by 2032, with an expected CAGR of 26.2% during the forecast period.
• AI Transformation in Video Production: Text-to-Video AI revolutionizes video production by automatically converting text orders into high-quality video segments, without human intervention.
• Driving Factors: Market growth is driven by the demand for accurate AI avatars enhancing social engagement, alongside the rising trend of online shopping and the adoption of video content tools by various industries.
• Challenges: High costs associated with Text-to-Video AI software and ethical concerns regarding AI-generated content pose significant challenges to market growth.
• Segmentation Analysis:
  • Software Segment: Accounted for 52.5% of the market share in 2022.
  • Cloud Deployment: Dominated the market, offering improved collaboration, scalability, and reduced maintenance costs.
  • Large Enterprises: Held the highest market revenue share due to the integration of Text-to-Video AI solutions in managing dispersed devices.
  • Education Sector: Dominated the end-user segment, leveraging Text-to-Video AI for creating educational content and enhancing the learning experience.
• Regional Analysis: North America leads the global Text-to-Video AI market, driven by advanced economies and strong infrastructures. The Asia-Pacific region is projected to witness significant growth due to the thriving e-commerce sector and increased internet penetration.
• Key Market Players: Key players in the Text-to-Video AI market include Google LLC, GliaCloud Co., Ltd, De-Identification Ltd., Synthesia Limited, Ezoic, Inc., Veed Limited, Meta Platforms, Inc., and Animatron, Inc.

By Component Analysis

Software Segment to Witness Significant Growth

The global text-to-video-AI market is divided into software and services. The software segment accounted for the highest market revenue share of 52.5% in 2022. The text-to-video AI tools are AI-power solutions that convert raw input arguments or audio character-centric animated video output. This system delivers a variety of abilities, including the capability to identify from numerous languages, different voices, transition effects, selected music, and up-to-date editing tools to produce high-quality pictures.

The services segment dominated in the historical period and is expected to hold the second-largest market share. Services aid a vast variability of stock pictures and free music, which benefits the quick and simple manufacture of beautiful videos.

By Deployment Mode Analysis

The Cloud Segment Dominates the Market Growth of the Text-to-Video AI Market

Based on the deployment mode, the global text-to-video AI market is classified into cloud and on-premise. The cloud segment accounted for the maximum market revenue share in 2022. This can be attributable to the benefits provided to the user, such as improved cooperation, scalability, decreased maintenance cost, and flexibility in the capacity of devices. Therefore, cloud deployment is chosen by infrastructure-intensive consumers. The on-premise segment is estimated to witness the fastest growth rate during the forecast period. Due to the quickness, scalability, and various features.

By Organization Size Analysis

The Large Enterprises Segment Hold the Highest Market Revenue Share During the Forecast Period

The global text-to-video AI market is classified into large enterprises and SMEs based on organization size. Among these, the large enterprise dominated the highest market revenue share of 65% in 2022. Due to the increasing integration of text-to-video AI solutions and services to manage their large numeral of dispersed devices. Along with investing greatly in technological competence and business to raise their market revenue.

The SME segment is expected for maximum revenue share during the forecast period. By providing innovative and advanced solutions, SMEs globally focus on carving out a position in the market. The need for text-to-video- AI solutions is increasing among SMEs in the companies sector to enter with high-performance video tools.

By End-User Analysis

The Education Segment Dominated the Text-to Video AI Market

Based on the end-user, the global text-to-video AI market is divided into healthcare, media & entertainment, marketers, and others.  Among these, the education segment registers the highest CAGR during the forecast period. The text-to-video AI benefits users to effectively make videos from some information and data. It aids in novel articles and making videos from tales.

Additionally, the proliferation of novel technologies, including wireless connectivity, has made learning no longer restricted to the classroom and helps students have the freedom to take the way they want to learn. The media & entertainment segment registers a significant revenue share in the text-to-video AI market. Due to the simplest methods of making videos by using AI.

Note: Actual Numbers Might Vary In The Final Report

Driving Factors

Accurate AI Avatars to Improve Social Constituents to Videos to Drive the AI–Text Video Generator Market Growth

The video has become a vital tool for rising consumer arrangement and preservation. Text-to-video-AI solution providers offer options to choose among multiple artificial intelligence avatars. This avatar can express the provided version in more than 120 languages and pronunciations. Increasing innovation in text-to-video AI software driving the market growth.

The rising adoption of video content tools by industries and organizations is anticipated to propel the market growth of the global text-video-AI market.  Governments and commercial corporations worldwide have learned to employ AI for several applications, which is expected to fuel market growth. The increasing inclination of individuals towards online shopping drives market growth.

Restraining Factors

High-Cost of Text-to-Video AI Software Hamper Market Growth

The main factor hindering the growth of the market is the high calculating costs of text-to-video AI software. The software requires a vast amount of computing power and has very high calculation expenses, which makes training very excessive. It became difficult to categorize AI-generated content from real media. Thus affectation serious moral consequences restrain the market growth.

AI text-to-video producers are commonly limited by several pre-established templates, styles, and animations. Each AI- text-to-video delivers several editable templates. For suitable branding, requirements, and styles Though, customization opportunities might need to be enhanced. This influences on text-to-video AI may hamper its approval and restrain market growth.

Key Market Segments

By Component

• Software
• Services

By Deployment Mode

• Cloud
• On-Premise

By Organization Size

• Large Enterprises
• SME’s

By End-User

• Healthcare
• Media & Entertainment
• Marketers
• Education
• Other End-Users

Growth Opportunity

Accessibility of Applications in Numerous Languages to Save on Voiceover Budgets

AI video aids users in making videos by applying the least strength and price, making it the greatest selection for the industry with tight finances. The group text-to-video is an artificial video generation form that use to convert printed input into digital animation. This software benefits in creating a video with high-quality content in many languages.  The software offers AI voices that are digital replicas of the voices of actual individuals is a lucrative opportunity for market growth.

Latest Trends

New Product Development is the Global Trend in the Market

Technological and new product development is the global trend in the text-to-video marker. AI-based text video enhances the overall consumer experience inside the market. AI allows consumers to create compelling video content with individuals like avatars by typing text. This tool is an increasing trend among individuals, owing to its capability to make videos from any printed document.

Regional Analysis

North America Dominates the Global Text-to-Video AI Market During the Forecast Period

North America accounted for a significant text-to-video AI market revenue share of 38.7%. Due to the copyright acts in North America and Canada to prevent the original work of the creators. The U.S. is home-based to advanced economies with sound infrastructures. Main participants in the AI video-generating space have made product releases in the U.S., including Google and Meta. Owing to the region’s technological developments. North America will see the strongest growth rate. The increasing usage of AI tools in the countries is also projected to propel the market enhancement of the North American region.

The Asia-Pacific market is anticipated to register a CAGR of 40% during the forecast period due to the enhanced e-commerce sector in this region, which has enlarged the competition in the retail markets and increased customer options. Additionally, the presence of strong internet permeation and rising inclination towards online shopping is propelling the e-commerce business in the region. Corporations effective in the market are utilizing high-class advertising strategies to raise their consumer base and are using text-to-video advertising.

Note: Actual Numbers Might Vary In The Final Report

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

The companies are focused on enhancing their market presence through strategic collaborations. The market players are implemented several strategies, such as partnerships and collaborations, novel product launches, business enhancement, and product upgrades. Recently the key players have been spending lots on R & D activities to develop innovative products. Some of the prominent key players in the text-to-video AI market include Google LLC, GliaCloud Co., Ltd, De-Identification, Synthesia Limited, Ezoic, Inc., Veed Limited, Meta Platforms, Inc., Animatron, Inc., and other key players.

Top Key Players in AI-Text Video Generator Market

• Google LLC
• GliaCloud Co., Ltd
• De-Identification Ltd.
• Synthesia Limited
• Ezoic, Inc.
• Veed Limited
• Meta Platforms, Inc.
• Animatron, Inc.
• Other Key Players

Recent Development

• March 2022-Vimeo achieved the communicating video platform Wirewax. With the achievement, Wirewax will aid more collaborating video functionality to Vimeo, generally with an effort and drop border and the addition of shoppable videos, which Wirewax commonly encouraged.
• January 2020- Wochit collaborates with Kaltura to deliver Wochit video creation abilities to Kaltura consumers.

Report Scope