Text to Video AI Market Size - By Component (Software, Services), By Deployment (Cloud, On-premise), By Organization Size (Large Enterprises, SMEs), Application, End User & Global Forecast, 2023 - 2032

Text to Video AI Market Size - By Component (Software, Services), By Deployment (Cloud, On-premise), By Organization Size (Large Enterprises, SMEs), Application, End User & Global Forecast, 2023 - 2032

Global Text-to-Video AI Market size will expand considerably through 2032. Growing consumer inclination towards online shopping is creating lucrative opportunities for market growth. As per IBEF, the e-commerce industry in India could reach USD 200 billion by 2026. E-commerce companies leverage text-to-video AI solutions to generate product videos. By transforming product descriptions and specifications into engaging videos, businesses can showcase their products from different angles, highlight key features, and provide a more immersive visual experience. This helps companies gain access to a broader consumer base, thus, favoring market growth.
The overall text-to-video AI market is categorized based on component, deployment, organization size, application, end-user, and region.
Based on component, the software segment of the text-to-video AI market will expand exponentially through 2032. The time and cost efficiency of text-to-video AI software favors its adoption. It also offers scalability and multilingual capabilities to cater to a huge audience. The software can generate videos at scale without compromising quality or consistency. It can produce volumes of videos based on the provided text input, ensuring uniformity across the generated content, leading to a high acceptance rate.
Based on deployment, the text-to-video AI market share from the cloud segment will be worth over USD 1 billion by 2032. Cloud-based solutions can be accessed from anywhere with an internet connection, making them highly accessible to users. They eliminate the need for complex software installations or hardware requirements, as the processing and storage are handled in the cloud. This accessibility and ease of use enable a wider range of users to leverage text-to-video AI capabilities without significant technical expertise, further contributing to segment growth.
With respect to application, text-to-video AI industry value from the fashion & beauty segment will register significant growth through 2032. With the increasing need for visually engaging content, more and more fashion and beauty brands are turning to AI solutions to streamline their video production process and stay ahead of the competition. The integration of text-to-video AI solutions in this sector has brought ample benefits, including reduced production costs, enhanced user engagement, and improved brand visibility, driving product demand.
Regionally, Europe text-to-video AI market share will grow at a significant CAGR from 2023 to 2032. Growing digital content consumption attributed to the expanding media & entertainment sector has increased the demand for text-to-video AI solutions in the region. Moreover, a rapid surge in the e-learning sector has further fostered the adoption of these solutions, contributing to regional growth. In fact, Europe has a robust presence of leading market players focusing on innovations, creating a robust growth outlook for the regional industry.