The AI video generator market is expected to grow from US$ 437.84 million in 2022 to US$ 1,763.57 million by 2030; it is estimated to grow at a CAGR of 19.0% from 2022 to 2030.
Analyst Perspective:
The AI video generator market has witnessed significant growth in recent years, driven by technological advancements, rising social media, and the increasing demand for video content. AI video generator is a software tool that is used by many market players to make explainer videos, increase organic traffic, e-learning, e-commerce, corporate communications, real estate, AI news generator, and many others. Thus, the wide use of AI video generators is one of the key factors driving the market.
The demand for video content is rising across several industries for marketing purposes, where the need for AI video generators as a software application is increasing to create videos from text using artificial intelligence to create videos from text. The AI video generator helps users to create high-quality videos without possessing any video editing skills.
The demand for video content is growing owing to the rising acceptance of visual environments across businesses. The majority of individuals prefer visual media over text, and more than 80% of the content on the internet is videos, which fuels the demand for video generators and fosters the market. In addition, the accessibility of high-speed internet, large audiences possessing access to social media platforms, and increasing consumer preference for video content have fueled the demand for tools and software linked with video generators, which has fostered market growth.
Market Overview:
An artificial intelligence (AI) video generator is a tool or software that allows users to create a video in minutes as per their requirements using AI. Majorly, a text-to-video process is used for AI video generators. It enables the user to write a text, and AI video generators generate the video. Content creators and marketers widely use this tool to create videos that can be used for social media, reels, websites, and other platforms to attract more customers and viewers. Some AI video creation platforms can make videos in several different languages, accents, and tones. The demand for AI video generators is on the rise owing to their ability to create realistic and engaging videos on any subject from just a few text, blog, or video prompts. It helps marketers and content creators to save time by using an AI video generator, which converts text into videos in just a few minutes, leading to its adoption and fostering market growth.
AI video generator is a type of machine learning (ML) technology that can generate a variety of different videos from a few human inputs in the format of texts. Once the tools are fed with a few text prompts and directions, they can create entirely new videos that depict realistic day-to-day scenes or imaginary sci-fi worlds. Some AI video generators need longer text, such as a video script, blog, or transcript, to generate videos, while others need only a short sentence. Some AI video generators may contain built-in editing tools for the user to enhance and edit the videos, and others may not. Some of the additional features of AI video generators are voice-over generators, visuals to video, ai-generated human avatars, and auto-captions. Such characteristics of AI video generators led to their adoption and fueled the market growth.
Strategic Insights
Market Driver:
Benefits of AI Video Generators to Drive Growth of AI Video Generator Market
AI video generators use natural language processing (NLP) and machine learning (ML) algorithms to generate new videos from scratch based on prompts. They are trained on the basis of large datasets, which helps the AI video generator to learn or analyze the data and create accurate videos required by the users. Therefore, it is a powerful tool for creating high-quality content faster, leading to its adoption by users and fostering the market size. One of the major benefits of an AI video generator is its ability to save content creators or marketer’s time. As the video generator is trained with a massive amount of data and videos, these AI video generators successfully mimic videos and generate entirely new videos in just a matter of minutes. These video generators save creators or marketers time by automatically directing, editing, filming, animation, and more. One of another benefit of AI video generator is that it helps to save money. The enterprises and organizations hire a third-party or in-house video production to create marketing material or videos to market their product and solutions. It costs them a very high cost. Therefore, with the help of an AI video generator, the enterprise can spend a very flat fee or monthly subscription fee, which is less than the total budget, to hire a third party or to pay for an in-house video production team. Thus, such cost-saving features in AI video generators fuel market growth. In addition, these video generators also help the user to create content on the niche market with their machine learning and artificial intelligence capabilities, which propels market size further.
Segmental Analysis:
Based on component, the AI video generator market is segmented into solutions and services. The solutions segment held the largest AI video generator market share in 2022 and is anticipated to register the highest CAGR in the AI video generator market during the forecast period. The solution segment includes software or platforms provided by the key players of the AI video generation market. Many organizations use AI video generation platforms for their marketing & business strategies. The component in the solution segment has a major cost share associated with this, leading to its largest market share. The advantages linked with AI video generation tools compared to conventional video creation include cost-effectiveness, web-based application, interactive interface, availability in multiple languages, and time and cost saving, propelling the AI video generation market growth.
Regional Analysis:
The Europe AI video generator market was valued at US$ XX million in 2022 and is projected to reach US$ XX million by 2030; it is expected to grow at a CAGR of XX% during the forecast period. Europe holds a significant market share in the AI video generator market. Several factors have contributed to Europe's strong position in this market. Factors such as the rise in demand for video content, adoption of AI technology, and accessibility to robust computing resources are the major factors driving the AI video generator market.
Moreover, the European AI strategy further aims to strengthen the use of this technology in various industries for various purposes, as AI is considered as human-centric and trustworthy. This factor has further propelled the use of AI technology for video creation and fostered the AI video generator market. The rising use of social media platforms, the gaining popularity of video making, and the demand for top-notch video content are some of the major driving factors for the AI video generator market in Europe. Advancements in AI technologies have helped developers to develop video creation platforms that produce more realistic and captivating videos. In addition, the large number of datasets and enhanced computing sources have empowered the generators to create accurate, high-quality, high-resolution videos for their users. Thus, advancement in AI technology further fuels the AI video generator market.
Furthermore, the Digital Education Action Plan (2021-2027), a renewed European Union (EU) policy initiative, was designed with the common vision of providing high-quality, inclusive, and accessible digital education in the region. This action plan was adopted in September 2020 with an aim to support the adaptation of the education and training systems with the help of digitalization. Under its action plan 6, ethical guidelines on the use of AI and data in teaching and learning for educators have been mentioned, which foster the development of a high-performing digital education ecosystem. Thus, such an educational action plan propels the use of this to better understand the students' learning concepts through high-quality visuals. Thus, digitalization in the education system fuels the AI video generator market in the region.
European companies have been at the forefront of developing and commercializing AI technologies, offering various tools to cater to diverse consumer preferences. Several organizations and enterprises invest in several marketing strategies to gain a competitive advantage over the other market players. Most individual prefer video content over text, which foster the AI video generator market. Additionally, the strong accessibility and ability of the region to adopt advanced technologies is fueling the AI video generator market size further.
Key Player Analysis:
The AI video generator market analysis consists of players such as Pictory, Synthesia Limited., HeyGen, Deepbrain AI, Lumen5, Raw shorts, VEED, Elai.io, Colossyan Inc., and FlexClip.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the AI video generator market. A few recent key market developments are listed below:
- In August 2023, a16z-backed AI video generator Irreverent Labs, secured a strategic investment from Samsung Next to bring its AI video generation technology to millions of Samsung device users worldwide. The highly advanced AI video models will help Samsung to create 3D animated videos from simple text prompts.
- In June 2023, Vimeo, one of the popular video hosting and software company, launched a suite of AI tools to transform professional video production. The company introduced a script generator, an on-camera teleprompter and an automated video editor that can eliminate the unwanted filler words and pauses instantly with the click of a button. Vimeo intends to lower the barrier to entry for video creation and communication, allowing more people to connect meaningfully through video.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
AI Video Generator Market Report Analysis
-
CAGR (2023 - 2031)19.00% -
Market Size 2023
US$ 521.03 Million -
Market Size 2031
US$ 2,095.26 Million
Report Coverage
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Industry landscape and competition analysis & recent developments
- Detailed company profiles
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Key Players
- Pictory
- Synthesia Limited.
- HeyGen
- Deepbrain AI, Lumen5
- Raw shorts
- VEED
- Elai.io
- Colossyan Inc.
- and FlexClip.
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
By Component
- Solution
- Services
By Organization Size
- Large Enterprise
- SMEs
By Application
- Marketing
- Education
- Social Media
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
AI Video Generator Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 521.03 Million |
| Market Size by 2031 | US$ 2,095.26 Million |
| Global CAGR (2023 - 2031) | 19.00% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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