Text-to-Video AI Market: Global Market Growth by Component, Mode of Deployment, Organization Type, End User, Applications and Region Forecast (2023 – 2029) | MMR

Global Text-to-Video AI Market size is expected to hit USD 1089.33 Mn by 2029 from USD 144.9 Mn in 2022 at a CAGR of 33.4% during the forecast period.
Text-to-Video AI Market Overview
Text-to-video is the process that converts data from text format to video format with the help of artificial intelligence technology. The technology is expected to create an alternative or might replace traditional video production. Increasing use of video content technology in education, the healthcare sector and businesses are expected to drive the Text-to-Video AI Market. The Text-to-Video AI Key Players such as Microsoft, Google and Facebook invested a billion amount into artificial intelligence technology, which is expected to propel the growth of the market exponentially.


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Text-to-Video AI Market Dynamics
Market Drivers

Rise in demand for engaging videos in businesses: Businesses are increasingly using videos to engage with their customers and prospects. The Text-to-Video AI generative is used for the explanation of products in advertising, fashion and the healthcare industry. This is helping businesses to create a written concept in video format since the Text-to-Video AI Market is expected to grow significantly across the world. The text-to-video generator saves the cost of businesses since it eliminates the need for high-cost equipment required for video production. Content creation through videos has become a major part of the service and other industries. AI avatar is also created by the text-to-image or video generative, which is useful for those who do not want to reveal their identity. This has become helpful in the healthcare industry since this text-to-video AI generative allows early detection of disease or abnormal activities of cells for better precautions. These factors are expected to boost the Text-to-Video AI Market.

Text-to-Video AI Market Trends

Image, Video and 3D Creations through AI Generative Expected to Boost Market

Recently, Adobe Inc. announced the inclusion of AI technology in Photoshop for generating imagery with creators at the center. Adobe named it Adobe Firefly and launched a beta version of it aiming to create a tool for graphic design. This generative by Adobe become a discussion in the industry, which is expected to drive the growth of AI-generative. Video generation through AI is expected to be the hot market at the global level. With the minimum command, the text-to-video AI is able to create a short ten to fifteen-second video. This allows the creation of multiple imaginations, actions, objects and scenes in a single video with the prompt. These factors are expected to drive the Text-to-Video AI Market as major Text-to-Video AI Key Companies is investing and developing text-to-video AI generative to increase their Text-to-Video AI Market Share.

Emergence of Hyper-Personalization and Big Tech Interest in AI Driving the Text-to-Video AI Market

Hyper-personalization is an advanced way of marketing to a targeted audience with the help of data, analytics, AI and automation. Recently, Starbucks started using hyper-personalization, also it is widely used in the education and medical and real estate sector to target their customers and present the idea through a short video, which is generated by text input. The Text-to-Video AI Market Growth is supported by the advancements in generative AI that are produced by Text-to-Video AI Key Players such as Google Brain, DeepMind, Nvidia, Adobe, Meta and OpenAI. These big tech Text-to-Video AI Companies are collaborating with world-class universities and their PH.D. Scholars such as Stanford, UC Berkeley and MIT. This is expected to increase the authenticity of the information generated by AI.

Stable Diffusion in the Text-to-Video AI to Generate High-Resolution Videos Driving the Generative AI Market

Stable diffusion high quality and stable videos through an AI-powered editing technique. The stable diffusion enhances specific features in a video such as colors, textures and more. Recently, a major Text-to-Video AI Key Company Nvidia developed a generative AI model based on stable Diffusion. The team gave training to the video model to generate a few minutes of video at 512x1024 pixels resolution and that reached most benchmarks unexpectedly. These developments and product launches by Text-to-Video AI Key Players are expected to propel the growth of the Text-to-Video AI Market.

Text-to-Video AI Market Challenges

Computational challenges: Ensuring that frames in a video are spatially and temporally consistent requires models to learn long-term dependencies. This can be computationally expensive, making it difficult for most researchers to train these AI-generative models.

Lack of high-quality datasets: These datasets are sometimes biased due to a lack of information and training, which is expected to give biased and unfair results.

Vagueness around video captioning: The text-to-video AI generative requires specific and clear text for clarity in the video. The dullness in the written prompt is expected to change the results.

Unethical Use of AI-generative: It is possible that this text-to-video AI generative is utilized for illegal uses such as fraud and others. It is observed that managing the behavior of AI models, such as GANs is next to difficult. This is expected to create a challenge for Text-to-Video AI Market.
Text-to-Video AI Market Restraints
The Text-to-Video AI Market Data has been collected through primary and secondary research methods. Collected data were later analyzed by SWOT analysis and PORTER’s five force model, which provides detailed information regarding the growth hubs, opportunities, regional insights and constraints in the Text-to-Video AI Industry. Fake image and video creation, there are no regulations regarding the use of pictures and videos. These factors are expected to impede the growth of the Text-to-Video AI Market throughout the forecast period.
Text-to-Video AI Market Regional Insights
North America is expected to hold the largest share of the Text-to-Video AI Market throughout the forecast period (2023-2029). With time, different types of AI generative are unleashing apart from ChatGpt such as language models, text-to-speech, DALL-E and others. Text-to-Video AI is one of the AI generative, which is gaining popularity across the world. Recently, in September 2022, Meta introduced an AI-generative tool named Make-A-Video, which creates videos with inputs from just two or three lines without voice. Meta, Google and Runway have become major Text-to-Video AI Key Players in the world. Google introduced its Text-to-Video AI Generative called Imagen Video. The launch of the latest AI generative by major Text-to-Video AI Key Companies is expected to boost the Text-to-Video AI Industry in the region.

Asia Pacific is a developing economic region, which is expected to grow at the highest CAGR of 35.2 percent in the Global Text-to-Video AI Market. The increasing demand for creative videos in education, businesses and other sectors along with the presence of major Text-to-Video AI Key Players such as DeepBrain AI, Stable Diffusion Videos, Veed.io and Lumen5 in China is expected to drive the Text-to-Video AI Industry in the Market.

There are 130 AI-generative startups in Europe, which are the most. With 50 AI-generative companies, the United Kingdom tops in the region and Germany is in second place with 17 companies. The number of companies working on AI generative such as Text-to-Video AI are propelling the growth of the Europe Text-to-Video AI Market throughout the forecast period.
Text-to-Video AI Market Competitive Landscape
The Vedia, Lumen5, Synthesia, Steve AI and InVideo are some of the major Text-to-Video AI Key Players. Recently, on April 14, 2022, Vimeo acquired Wirewax, an interactive video platform. Wirewax is expected to bring more interactive video functionality to Vimeo, specifically with a drag-and-drop interface and the addition of “shoppable” videos, which Wirewax often promotes. This is an indication that interactive videos are entering the mainstream and the penetration of it is expected to be the highest and more specific with the help of Text-to-Video AI Software. This acquisition is expected to drive the Text-to-Video AI Market. The report provides a detailed analysis of the market through competitive benchmarking of the Text-to-Video AI Key Companies based on their Market Share, Market Size and Market Penetration in the major geographic regions.
Text-to-Video AI Market Segment Analysis
Based on Component

The growing popularity of Text-to-Video AI generative across the world in healthcare and consulting services, for the businesses of small, medium and large enterprises is expected to propel the growth of the Text-to-Video AI Software for the execution of the generative. The software segment growth is also supported by the demand for quick and simple Text-to-Video AI Software. This collectively drives the Text-to-Video AI Market.

Based on Application

The food and Beverage industry segment is expected to hold the largest revenue share of the Text-to-Video AI Market. The Food industry is growing significantly across the world and they are seeking ways to create video content for advertising. Text-to-Video AI-Software provides a solution for all these without requiring a much amount and expensive video production equipment.
Text-to-Video AI Market Scope: Inquire before buying



Text-to-Video AI Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
USD 144.9 Mn


Forecast Period 2023 to 2029 CAGR:
33.4%
Market Size in 2029:
USD 1089.33 Mn


 Segments Covered:
by Component
Software
Services
Consulting Services
Integration Services
Support and Maintenance Services


by Mode of Deployment
On-premise
Cloud


by Organization Type
Large Enterprises
Small and Medium-Sized Enterprises


by End User
Marketers
Social Media Managers
Educators & Course Creators
Content Creators
Corporate Professionals
Others


by Applications
Education
Food & Beverages
Media & Entertainment
Fashion & Beauty
Retail & E-commerce
Health & Wellness
Travel & Hospitality
Real Estate
Other



Text-to-Video AI Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Text-to-Video AI Key Players include:
1. GliaCloud
2. Designs.ai
3. Pictory
4. Raw Shorts
5. Wochit
6. Vimeo
7. Vedia
8. Lumen5
9. Synthesia
10. Steve AI
11. InVideo
12. Meta
13. Hour One
14. Google
15. Elai.io
16. Peech
17. Wave Video
18. DeepBrain AI
19. D-ID
20. Yepic AI
21. Movio
22. KLleon
23. Synthesys
24. VEED
25. Ezoic

Frequently Asked Questions:

1] What is the growth rate of the Text-to-Video AI Market?
Ans. The Text-to-Video AI Market is growing at a CAGR of 33.4% during the forecast period.

2] Which region is expected to dominate the Text-to-Video AI Market?
Ans. North America is expected to dominate the Text-to-Video AI Market during the forecast period from 2023 to 2029.

3] What is the expected Text-to-Video AI Market size by 2029?
Ans. The size of the Text-to-Video AI Market by 2029 is expected to reach USD 1089.33 Mn.

4] Who are the top players in the Text-to-Video AI Market?
Ans. The major key players in the Text-to-Video AI Market are GliaCloud, Designs.ai, Pictory, Raw Shorts and Wochit

5] Which factors contributed to the growth of the Text-to-Video AI Market in 2022?
Ans. The Text-to-Video AI Market is expected to grow due to the increasing demand for video content from all sectors of the industry.