Text-To-Video AI Market Players, Drivers, And Forecast 2024-2033

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The text-to-video ai global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Text-To-Video AI Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

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 in the historic period can be attributed to increased demand for visual content, rise of social media, accessibility features, entertainment industry demand, user engagement enhancement..

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 growth in the forecast period can be attributed to multilingual capabilities, expansion of online learning, real-time video generation, enhanced facial expression recognition, enhanced visual realism and quality.. Major trends in the forecast period include integration with voice and speech synthesis, integration with content management systems, ai ethics and responsible ai practices, cross-platform compatibility, collaboration with virtual reality (vr)..

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Scope Of Text-To-Video AI Market

The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Text-To-Video AI Market Overview

Market Drivers –

The rising usage of video content is expected to propel the growth of the text-to-video AI market going forward. Video content refers to visual material in a video format created, produced, and shared for various purposes, including entertainment, education, marketing, communication, and information dissemination. Text-to-video AI technology simplifies and expedites converting text-based content into video format. It is a valuable tool for content creators and businesses looking to enhance video content strategy. For instance, in February 2023, according to a survey conducted by Wyzowl, a UK-based video marketing agency and software company, in a survey of 528 unique respondents, the adoption of video content marketing by businesses increased to 91%, reflecting an increase from the 86% usage rate observed in 2022. Therefore, the rising usage of video content will drive the growth of the text-to-video AI market.

Market Trends –

Major companies operating in the text-to-video AI market are developing innovative AI technologies such as Make-A-Video to make it easier for people to create videos and improve the accessibility of video content. Make-A-Video is a new AI system that lets people turn text prompts into brief, high-quality video clips, allowing users to generate videos from text descriptions. For instance, in September 2022, Meta Platforms, Inc., a US-based technology company, introduced Make-A-Video, a novel AI system that transforms text prompts into high-quality video clips. Based on generative AI research, this innovative AI technology leverages paired text-image data and video footage to understand the world’s visual and motion aspects. It empowers creators to bring imaginative ideas to life with just a few words, producing unique videos with vibrant colors, characters, and scenes. It uses a combination of natural language processing (NLP) and computer vision to generate videos from text descriptions.

The text-to-video ai market covered in this report is segmented –

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

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Regional Insights –

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

Key Companies –

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

Table of Contents

1. Executive Summary

2. Text-To-Video AI Market Report Structure

3. Text-To-Video AI Market Trends And Strategies

4. Text-To-Video AI Market – Macro Economic Scenario

5. Text-To-Video AI Market Size And Growth

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27. Text-To-Video AI Market Competitor Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis

30. Appendix

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