Global Text-to-Video AI Market Report 2023: Inclusion of Data-Driven Videos on Websites to Boost Conversion Rates Drives Growth

DUBLIN, May 30, 2023 /PRNewswire/ -- The "Global Text-to-Video AI Market by Component (Software, Services), Deployment Mode, Organization Size, End User (Corporate Professionals, Content Creators), Vertical (Education, Media & Entertainment, Retail & eCommerce) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global text-to-video AI market is projected 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. Higher adoption of AI video generation to increase revenue on OTT, DOOH, and CTV platforms is driving the text-to-video AI market growth.

Cloud segment is expected to account for a larger market share 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.

Support and Maintenance services segment is estimated to account for a higher CAGR during the forecast period

Support & maintenance are important to service in the applications and AI market. Text-to-video AI solution vendors offer support to enterprises to help them leverage the full capabilities of video-generating solutions. To use these tools effectively, the video and operation teams need to develop an understanding of how to use these tools for visualization and text input. Support services from text-to-video AI software vendors assist their customers in managing text sources to align with the software protocols.

Small- & Medium-Sized Enterprises segment to account for the largest market share during the forecast period

Organizations with an employee strength between 1 and 1,000 are categorized under the SMEs segment. SMEs across the globe are focusing on building a niche for themselves in the global market by offering innovative and advanced solutions. SMEs across the business industry are witnessing an increasing need for text-to-video AI solutions and services to capture customer attention using high-performance video tools. The rapid adoption of digital technology across the business has augmented profits for SMEs and greatly enhanced their business productivity.

Among regions, Asia Pacific recorded the highest CAGR during the forecast period

Asia Pacific consists of countries, such as Japan, Singapore, China, India, and New Zealand and Australia, which are expected to register high growth rates in the text-to-video AI market. The region consists of the world's most populous country such as China, followed by India. Larger population of these countries is one of the factors offering more opportunities for the text-to-video AI market. Next factor in driving force of the market is increasing initiatives of the governments in evolving technologies such as AI, ML and more. Generative AI is still evolving in the region; major players are expected to invest in text-to-video AI in the upcoming years.

Market Dynamics

Drivers

• Inclusion of Data-Driven Videos on Websites to Boost Conversion Rates
• Realistic Ai Avatars to Add Social Components to Videos and Make Them Dynamic
• Rise in Demand for Engaging Videos in Businesses

Restraints

• Ethical Implications
• Truthfulness and Accuracy

Opportunities

• Availability of Applications in Multiple Languages to Save on Voiceover Budgets
• Higher Adoption of Ai Video Generation to Increase Revenue on Ott, Dooh, and Ctv Platforms

Challenges

• High Computing Costs and Lack of Good Datasets

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Text-To-Video Ai Market, by Component
6.1 Introduction
6.2 Software
6.2.1 Automation to Assist Video Making Process Through Ai
6.3 Services
6.3.1 Consulting Services
6.3.1.1 Consulting to Help Deploy Right Solutions in Competitive Market
6.3.2 Integration Services
6.3.2.1 Integration to Provide Specialized Services with Tools, Services, and Knowledge
6.3.3 Support & Maintenance Services
6.3.3.1 Services to Fulfill Pre- and Post-Deployment Needs

7 Text-To-Video Ai Market, by Deployment Mode
7.1 Introduction
7.2 On-Premises
7.2.1 Advancements in It Infrastructure to Drive On-Premise Solutions
7.3 Cloud
7.3.1 Scalability and Flexibility Offered to Monitor Network Performance Remotely

8 Text-To-Video Ai Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: Text-To-Video Ai Market Drivers
8.2 Large Enterprises
8.2.1 Need to Upscale Employee Training Process to Drive Adoption
8.3 Small- & Medium-Sized Enterprises
8.3.1 Need to Capture Customer Attention Using High-Performance Video Tools

9 Text-To-Video Ai Market, by End-user
9.1 Introduction
9.2 Marketers
9.2.1 Demand for Professional-Looking Videos Created Instantly
9.3 Social Media Managers
9.3.1 Use of Ai Video Generator Software to Boost Engagement on Social Media
9.4 Educators & Course Creators
9.4.1 Increased Online Education Through Videos to Boost Market
9.5 Content Creators
9.5.1 Demand for Content Generation with Ai Video Creation Tools Without Compromising on Quality
9.6 Corporate Professionals
9.6.1 AI to Help Increase Enterprise Revenue and Build Customer Base
9.7 Other End-users

10 Text-To-Video Ai Market, by Vertical
10.1 Introduction
10.2 Education
10.2.1 Learning to be More Through Videos Than Texts
10.3 Food & Beverages
10.3.1 Ai Video Generators to Allow Visualizing Menu Cards
10.4 Media & Entertainment
10.4.1 Ai to Assist in Automating Video Content Generation Process
10.5 Fashion & Beauty
10.5.1 Short Videos to Review User Experience
10.6 Retail & Ecommerce
10.6.1 Text-To-Video Ai to Provide Personalized User Experience
10.7 Health & Wellness
10.7.1 Text-To-Video Ai to Provide Health Tips
10.8 Travel & Hospitality
10.8.1 Ai to Help Visualize Text Blogs of Travelers
10.9 Real Estate
10.9.1 Ai to Help Consumers Visualize Features of Properties
10.10 Other Verticals

11 Text-To-Video Ai Market, by Region

12 Competitive Landscape

13 Company Profiles

14 Adjacent/Related Markets

15 Appendix

Companies Mentioned

• Deepbrain Ai
• Designs.Ai
• D-Id
• Elai.Io
• Ezoic
• Gliacloud
• Google
• Hour One
• Invideo
• Klleon
• Lumen5
• Meta
• Movio
• Peech
• Pictory
• Raw Shorts
• Steve Ai
• Synthesia
• Synthesys
• Vedia
• Veed
• Vimeo
• Wave.Video
• Wochit
• Yepic Ai

For more information about this report visit https://www.researchandmarkets.com/r/7y3ioj

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