An artificial intelligence (AI) text generator is a computer program or system that uses artificial intelligence (AI) algorithms to generate human-like text based on input data or prompts. These systems are trained on large text datasets to learn patterns, language structures, and semantic relationships, allowing them to generate coherent and contextually relevant text in various styles and formats.
Sizing and Forecast
The AI text generator market size has grown exponentially in recent years. It will grow from $0.51 billion in 2023 to $0.61 billion in 2024 at a compound annual growth rate (CAGR) of 20.7%. The growth in the historic period can be attributed to increased adoption as businesses seek specialized, increasing demand for natural language generation, growing need for high-quality engaging content, and increasing reliance on online communication channels.
The AI text generator market size is expected to see exponential growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 21.0%. The growth in the forecast period can be attributed to the increasing adoption of AI technologies, growing demand for content production, growing interest in ethical AI and developing models, rising demand for personalized data, and increasing use of machine learning content. Major trends in the forecast period include technological advancements, advancements in AI Technology, advanced technological solutions, integrated content ecosystems, and integration of AI text generators.
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Segmentation & Regional Insights
The AI text generator market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Application: Text To Text, Speech And Voice To Text, Image And Video To Text
3) By End-Use: Media And Entertainment, Healthcare, Education, Information Technology (IT) and Telecommunication, E-commerce, Social Media and Networking
North America was the largest region in the AI text generator market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI text generator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing adoption of cloud-based platforms is expected to propel the growth of the AI text generator market going forward. Cloud-based platforms refer to services delivered over the Internet instead of hosted on local servers or personal computers. The adoption of cloud-based platforms is due to digital transformation, cost-effectiveness, security and compliance, integration and interoperability, and disaster recovery. AI text generators play a crucial role in enhancing cloud-based platforms’ functionality, efficiency, and user experience by automating content creation, improving support services, accelerating data preparation, enhancing NLP capabilities, facilitating documentation, and enabling automated reporting and insights. For instance, in December 2023, according to the European Union, a Netherlands-based international organization, the percentage of European Union businesses that bought cloud computing services increased by 4.2 percentage points in 2023 compared to 2021. Therefore, the increasing adoption of cloud-based platforms is driving the growth of the AI text generator market.
Key Industry Players
Major companies operating in the AI text generator market are Google LLC, Microsoft Corporation, Meta Platforms, Huawei Technologies Co. Ltd., International Business Machines Corporation, System Analysis Program, Salesforce.com Inc., Adobe Systems Incorporated, OpenAI Inc., Palantir Technologies Inc., AI Writer Technologies FZ-LLC, Frase Inc., LONGSHOT AI INC., Orpheus Technology Ltd., Course Hero Inc., Jasper AI INC., OthersideAI Inc., CopyAI Inc., AISense Inc., Writesonic Inc., Scalenut Technologies Pvt. Ltd., Pepper Content Pvt. Ltd., INK Content Inc., Hypotenuse Technologies Pte. Ltd., Sassbook AI Pte. Ltd
The ai text generator market report table of contents includes:
1. Executive Summary
2. AI Text Generator Market Characteristics
3. AI Text Generator Market Trends And Strategies
4. AI Text Generator Market – Macro Economic Scenario
5. Global AI Text Generator Market Size and Growth
…..
32. Global AI Text Generator Market Competitive Benchmarking
33. Global AI Text Generator Market Competitive Dashboard
34. Key Mergers And Acquisitions In The AI Text Generator Market
35. AI Text Generator Market Future Outlook and Potential Analysis
36. Appendix
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