Global AI Video Generator Market Size, Share & Industry Trends Analysis Report By Application, By Source, By Component (Solution and Services), By Organization Size (Large Enterprises and SMEs), By Regional Outlook and Forecast, 2023 - 2029

Global AI Video Generator Market Size, Share & Industry Trends Analysis Report By Application, By Source, By Component (Solution and Services), By Organization Size (Large Enterprises and SMEs), By Regional Outlook and Forecast, 2023 - 2029

The Global AI Video Generator Market size is expected to reach $1.5 billion by 2029, rising at a market growth of 20.0% CAGR during the forecast period.

AI video generators leverage Artificial Intelligence (AI) to produce videos using information from diverse sources such as text, images, and audio files. No specialized equipment, editing studio, or expensive video editing software is necessary for video creation. To produce AI videos, the customer may select an AI video generator. Input desired text, select an avatar, and make the AI video. The AI video generator offers the advantage of eliminating the need for video editing and the user's physical presence in the video.

The AI Video Generator market is experiencing growth due to factors such as the increasing consumption of online video content on video platforms, the rise of short videos, and the need for audio-video content in various industries. The increasing acceptance of visual environments in the business world has led to a rise in demand for video content. Video content is a major driver of online traffic, as people tend to favor visual media over text and images. The increasing demand for video generators can be attributed to factors such as the widespread availability of high-speed internet, the growing number of social media users, and the rising consumer preference for video content.

In today's business landscape, corporations have leveraged AI-powered solutions to facilitate the creation of videos using diverse sources such as text, PowerPoint, or spreadsheets through specialized software. These user-friendly tools have gained widespread acceptance due to their time-efficient features and reduced need for human labor.

Many companies offer an AI video generation platform that enables users to efficiently produce videos featuring Avatars in less time. The product boasts a diverse range of features, such as multiple language support, a screen recording tool, a media library, templates, and more, all designed to enhance the user's experience and increase engagement. The integration of artificial intelligence is causing significant changes in the operational processes of various industries.

COVID-19 Impact Analysis

The COVID-19 pandemic positively impacted the market, as it led to an increase in the adoption of AI technology in several sectors. The COVID-19 situation has provided valuable lessons to business leaders regarding the importance of digital transformation. The utilization of artificial intelligence and data analytics has the potential to benefit a business greatly. Governments and firms globally have successfully utilized AI technology to combat the virus. This includes using AI for public education, patient screening, contact tracing, and generating online content through AI video generation applications. As a result, the AI video generator market has experienced significant growth during the pandemic.

Market Growth Factors

The growing utilization of social media and e-commerce applications

AI-powered video generation tools have the potential to provide significant advantages to diverse teams across multiple sectors. For example, AI video generators can assist various teams, including marketing and education teams, produce compelling video content efficiently and effortlessly, regardless of their lack of experience in video production. AI video generator tools can provide several benefits to social media teams. First, videos can enhance user engagement and boost traffic toward social media profiles. The utilization of AI video generators by social media and e-commerce platforms for various reasons is expected to increase market growth.

Increasing need for video content

Due to the growing demand for video content, numerous industry influencers are creating various videos to fulfill this increasing requirement. The rising interest in video content among brands is attributed to the greater attention it receives from people. Compared to other forms of content, there is a greater likelihood for consumers to overlook certain segments of audio and written material. The increasing demand for video creation tools is attributed to the growing popularity of video content. The utilization of AI video generators enables businesses to create top-notch videos in a timely and cost-effective manner, which is likely to drive market growth.

Market Restraining Factors

Lack of creativity and high subscription cost of AI video generator

Subscription fees remain a hurdle for emerging influencers and users in the business. Many independent content providers operate without financial backing, working solo to produce their content. The AI video generators offer a premium subscription plan, available monthly or quarterly, to access all necessary features. Also, the high cost of implementing AI technologies is a significant obstacle for smaller companies looking to enter the AI video generator market. The lack of creativity, ethical issues, and the high subscription rate is expected to hinder the market growth.

Component Outlook

Based on component, the AI video generator market is segmented into solution and services. The solution segment dominated the AI video generator market with maximum revenue share in 2022. This is because the solution segment encompasses the software or platforms leading vendors offer for AI video generation in the business industry. These solutions can be used 24/7, and the user-friendly interface is highly interactive. In addition, the business offers available in multiple languages, avatars, and templates to enhance user experience and cater to diverse needs.

Organization Size Outlook

On the basis of organization size, the AI video generator market is divided into large enterprises and SMEs. The SMEs segment procured a substantial revenue share in the AI video generator market in 2022. This is because video presentations are a crucial tool for businesses as they effectively convey information, particularly for educational and training purposes. Attendees will have the flexibility to access the video at their convenience and revisit the presentation for review purposes. Hence, there has been an increasing demand for effective video-creation tools in the market in recent years.

Source Outlook

By source, the AI video generator market is classified into text to video, PowerPoint to video and spreadsheet to video. The PowerPoint to video segment garnered a prominent revenue share in the AI video generator market in 2022. This tool enables businesses and individuals to transform conventional PowerPoint training resources into captivating and innovative videos with voiceover. These sources offer training videos in multiple languages. This software automatically converts PowerPoint notes into AI voiceovers.

Application Outlook

Based on the application, the AI video generator market is bifurcated into marketing, education, e-commerce, social media and others. The marketing segment registered the highest revenue share in the AI video generator market in 2022. This is because the AI video generator is a valuable tool for businesses looking to optimize their marketing content quality cost-effectively and efficiently. Traditional video production poses various challenges for businesses, such as high expenses for actors, film equipment, and studio rentals, as well as the need for a substantial budget, adaptability, time management, and oversight throughout the production process.

Regional Outlook

Region-wise, the AI video generator market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region led the AI video generator market by generating the maximum revenue share in 2022. This is due to the high utilization of AI tools credited for the growth of the Asia Pacific region. The emergence of 5G services in emerging economies drives the positive market growth. The market growth is being fueled by the presence of key players in the Asia Pacific region. Furthermore, the growing adoption of artificial intelligence in academic institutions and technology firms is contributing to the market growth in the Asia Pacific region.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Meta Platforms, Inc. (Facebook), Lumen5 Technologies Ltd, Musai Inc., synths.video Limited, Raw Shorts, Inc., Pictory Corp., PearlMountain Limited (FlexClip), Inmagine Lab Pte. Ltd. (Designs.Ai), Synthesia Limited and Rephrase.ai

Scope of the Study

Market Segments covered in the Report:

By Application

Marketing
Education
E-commerce
Social Media
Others
By Source

Text to Video
PowerPoint to Video
Spreadsheet to Video
By Component

Solution
Services
By Organization Size

Large Enterprises
SMEs
By Geography

North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Russia
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA
Companies Profiled

Meta Platforms, Inc. (Facebook)
Lumen5 Technologies Ltd
Musai Inc.
synths.video Limited
Raw Shorts, Inc.
Pictory Corp.
PearlMountain Limited (FlexClip)
Inmagine Lab Pte. Ltd. (Designs.Ai)
Synthesia Limited
Rephrase.ai
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