Global Artificial Intelligence (AI) Video Generator Market Size Forecast 2024 - 2033
19 Dec, 2024
How Is The Global Artificial Intelligence (AI) Video Generator Market Defined?
An artificial intelligence (AI) video generator refers to software or system that utilizes artificial intelligence techniques, specifically deep learning and computer vision algorithms, to automatically generate videos from input data such as images, text, or audio. It can create videos from scratch or enhance existing videos by adding visual effects, altering scenes, or synthesizing new content.
Artificial Intelligence (AI) Video Generator Global Market Report 2024 provides data on the global artificial intelligence (ai) video generator market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Artificial Intelligence (AI) Video Generator market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Artificial Intelligence (AI) Video Generator Market Size Expected To Change, And What Are The Growth Rate Projections?
The AI video generator market size has experienced exponential growth, increasing from $0.57 billion in 2023 to $0.69 billion in 2024 with a compound annual growth rate (CAGR) of 22.4% in the historic period. This growth is driven by the rising demand for social media advertising, the need for high-quality video content, expanding internet user base, increased spending on digital marketing initiatives, and the popularity of short-form videos. Looking forward, the market is expected to continue its rapid expansion, reaching $1.57 billion by 2028 with a CAGR of 22.7%. Anticipated drivers of growth include the proliferation of social media users, demand for user-friendly video creation tools, increasing appetite for personalized and interactive content, the emergence of virtual and augmented reality applications, growing utilization of virtual events, and expanding e-commerce applications. Major trends anticipated in the forecast period include real-time video generation, cross-modal video generation, interactive and immersive video experiences driven by advancements in natural language processing (NLP), computer vision, speech recognition, Internet of Things (IoT), blockchain, and the development of AI-driven content creation platforms and tools.
Which Drivers Are Accelerating Growth In The Artificial Intelligence (AI) Video Generator Market?
The growing use of social media is anticipated to fuel the AI video generator market's expansion. Social media platforms enable users to create, share, and engage with content, driven by increased internet access and smartphone adoption. AI video generators enhance user engagement by automatically creating videos from images, text, and videos provided by users. For instance, as of February 2023, Instagram had 28.75 million users, and LinkedIn had 35 million subscribers. Additionally, Meta Platforms Inc. reported 2.96 billion users across social media platforms by December 2022. This growth in social media utilization supports the increasing demand for AI video generators, reflecting market expectations for 2023, 2024, and beyond.
Get Your Free Sample of the Global Artificial Intelligence (AI) Video Generator Market ReportWhat Are The Core Segments Of The Global Artificial Intelligence (AI) Video Generator Market?
The artificial intelligence (ai) video generator market covered in this report is segmented –
1) By Component: Solution, Services
2) By Source: Text To Video, PowerPoint To Video, Spreadsheet To Video
3) By Organization Size: Large Enterprises, Small And Midsize Enterprises (SMEs)
4) By End-User: Marketing, E-Commerce, Educational Institutions, Information Technology And Telecommunication, Healthcare, Other End-Users
Which Emerging Trends Are Reshaping The Artificial Intelligence (AI) Video Generator Market Size?
Major companies in the AI video generator market are developing innovative solutions, such as text-to-video models, to gain a competitive edge. Text-to-video models enable automated video production from textual descriptions, allowing users to create engaging visual content without manual video editing or production expertise. For instance, in February 2024, OpenAI, a US-based AI company, introduced Sora, a generative AI model that creates detailed videos from simple written prompts. This text-to-video model allows users to create photorealistic videos based on their written prompts, with the ability to generate complex scenes with multiple characters, specific types of motion, and accurate details of the subject and background. It uses a transformer architecture, similar to GPT models, and represents videos and images as collections of smaller data units called patches.
What Is The Largest Region In The Artificial Intelligence (AI) Video Generator Market?
Asia-Pacific was the largest region in the AI video generator market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) video generator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.