AI Video Generator Market Key Players Analysis, and Growth Forecast by 2031

The AI video generator market size is projected to reach US$ 1986.34 million by 2031 from US$ 496.83 million in 2023. The market is expected to register a CAGR of 18.9% in 2023–2031. The growing demand for video content and growing social media are likely to remain key to AI video generator market trends.

AI Video Generator Market Analysis

The AI video generator market has experienced significant growth in recent years, owing to factors such as technological advancements, mounting social media, and the cumulative demand for video content. The demand for video content is increasing due to the rising acceptance of visual environments across businesses.  Many market players use AI video generators as software solution to make e-learning videos, AI news generators, and many others. The ability of AI video generators to create realistic and engaging videos based on any subject from a few texts, blogs, or video prompts fuels its adoption among the users.

AI Video Generator Market Overview

An artificial intelligence (AI) video generator is a software tool that allows users to generate video in minutes as per their requirements using AI technology. Usually, a text-to-video process is used for the AI video generators. It allows the user to write a text, and with the help of an AI video generator, the video is generated. Content creators and marketers widely use AI video generators to create videos that can be used for social media, websites,  reels, and other platforms to attract more viewers, followers, and customers.

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AI Video Generator Market: Strategic Insights

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AI Video Generator Market Drivers and Opportunities

Features of AI Video Generatorsto Favor Market

AI video generators use natural language processing (NLP) and machine learning (ML) algorithms to create new videos from scratch based on user input. They are trained on large datasets, which allows the Al video generator to learn or analyze data and produce the accurate videos that users require. As a result, it is an effective tool for producing high-quality content quickly, leading to user adoption and fueling the Al video generator market size. Al video generators offer significant time savings for content creators and marketers, which further leads to its demand.

Soaring investment for AI video generators

Al video generator is a technology that produces high-quality video content using text, blogs, and large datasets. Al video generators are becoming increasingly popular due to their cost-effectiveness compared to traditional video creators. The Al video generator can create personalized videos based on user data. Constant advancements in Al and machine learning algorithms have resulted in high-quality, realistic, and high-resolution videos. These video generators save time for marketers and video creators by automating tasks such as video editing, captioning, and animation. It also allows them to save money on third-party sources hired specifically for video production. Thus, due to such features of AI video generator is leading to its adoption. The market players are making investments in AI video generator technology to flourish its the market more. For example, in November 2023, Pika, a company creating an AI-powered platform, announced that it raised US$ 55 million in a funding round led by Lightspeed Venture Partners with participation from Homebrew, Conviction Capital, SV Angel, Ben’s Bites and notable angel investors including Quora founder Adam D’Angelo, ex-GitHub CEO Nat Friedman and Giphy co-founder Alex Chung.

AI Video Generator Market Report Segmentation Analysis

Key segments that contributed to the derivation of the AI video generator market analysis are component, organization size, and application.

• By component, the market is segmented into solution and services. The solution segment held the largest market share in 2023.
• Based on the organization size, the market is segmented into large enterprise and SMEs. The SMEs segment is expected to grow with the highest CAGR.
• By application, the market is segmented into marketing, education, social media, and others. The social media segment is expected to grow with the highest CAGR.

AI Video Generator Market Share Analysis by Geography

The geographic scope of the AI video generator market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

Asia Pacific region is expected to grow with the highest CAGR. Social media is growing at an exponential rate in the region. In addition, the region has influencers with a large follower. Thus, to keep growing their followers, the influencers upload regular videos, which generates the demand for advanced technological solutions that can help them to generate the videos faster, further driving the AI video generator market growth in Asia Pacific. The factors such as growth in demand for video content and adoption of AI technology are the major factors driving the Asia Pacific AI video generator market.

AI Video Generator Market Regional Insights

The regional trends and factors influencing the AI Video Generator Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses AI Video Generator Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

AI Video Generator Market Report Scope

AI Video Generator Market Players Density: Understanding Its Impact on Business Dynamics

The AI Video Generator Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the AI Video Generator Market are:

1. Pictory
2. Synthesia Limited.
3. HeyGen
4. Deepbrain AI
5. OpenAI
6. Invideo

Disclaimer: The companies listed above are not ranked in any particular order.

AI Video Generator Market News and Recent Developments

The AI Video Generator Marketis evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

• In February 2024, artificial intelligence (AI) company OpenAI launched new AI tool that can generate highly realistic 60-second videos based off a simple text prompt, a jump forward in quality for AI videos and “deepfakes” that have already been used to deceive voters. The new tool, called Sora, is initially available to a small group of artists and filmmakers as well as “red teamers,” or researchers who try to find ways that an AI tool can be used for malicious purposes,. (Source: The Washington Post, Press Release, 2024)
• In January 2024, Google introduced Lumiere, a text-to-video diffusion model designed for synthesizing videos that portray realistic, diverse, and coherent motion. To end the pivotal challenge in video synthesis, they introduced a Space-Time U-Net architecture that generates the entire temporal duration of the video at once through a single pass in the model. This is in contrast to existing video models which synthesize distant keyframes followed by temporal super-resolution -- an approach that inherently makes global temporal consistency difficult to achieve.  (Source: Lumiere, Press Release, 2024)

AI Video Generator Market Report Coverage and Deliverables

The “AI Video Generator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles