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Text-to-video AI Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2027

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Text-to-video AI Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2027

March 06
19:57 2023
Text-to-video AI Market Size, Share with Focus on Emerging Technologies, Top Countries Data, Top Key Players Update, and Forecast 2027
GliaCloud (Taiwan), Designs.ai (Singapore), Pictory (US), Raw Shorts (US), Wochit (US), Vimeo (US), Vedia (US), Lumen5 (Canada), Synthesia (UK), Steve AI (US), InVideo (US), Meta (US), Hour One (Israel), Google (US), Elai.io (US), Peech (Israel), Wave.video (US), DeepBrain AI (South Korea), D-ID (Israel), Yepic AI (UK), Movio (US), KLleon (South Korea), and Ezoic (US).
Text-to-Video AI Market by Component (Software, Services), Deployment Mode, Organization Size, End User (Corporate Professionals, Content Creators), Vertical (Education, Media & Entertainment, Retail & eCommerce) and Region – Global Forecast to 2027

The text-to-video AI market size is projected to grow from USD 0.1 billion in 2022 to USD 0.9 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 37.1% during the forecast period. The inclusion of data-driven videos on websites to boost conversion rates is driving the growth of the text-to-video AI market.

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Consulting Services segment is estimated to lead the text-to-video AI market in 2022

Consulting services offer unique services that help businesses to realize how many opportunities come from implementing any AI solution into their business. Consulting services deal with complex inquiries and have numerous clients that demand constant changes in product and service offerings. The demand for consulting services is increasing globally due to the rising pressure on organizations to stay competitive in their respective markets.

Large Enterprises segment is expected to have a higher growth rate during the forecast period

Organizations with more than 1,000 employees are categorized under large enterprises. Large enterprises are witnessing an increased need to deploy text-to-video AI solutions and services to efficiently manage their large number of devices spread across geographies. Large enterprises spend significant amounts on becoming technologically proficient. Large enterprises spend significantly on their devices in the business industry to enhance their business operations to remain competitive in the global market.

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The major vendors covered in the text-to-video AI market are GliaCloud (Taiwan), Designs.ai (Singapore), Pictory (US), Raw Shorts (US), Wochit (US), Vimeo (US), Vedia (US), Lumen5 (Canada), Synthesia (UK), Steve AI (US), InVideo (US), Meta (US), Hour One (Israel), Google (US), Elai.io (US), Peech (Israel), Wave.video (US), DeepBrain AI (South Korea), D-ID (Israel), Yepic AI (UK), Movio (US), KLleon (South Korea), Synthesys (UK), VEED (UK), and Ezoic (US). These players have adopted various growth strategies, such as partnerships, business expansions, agreements, and collaborations, new product launches, to expand their presence in the text-to-video AI market.

Vimeo is a leading all-in-one video software solution that provides the full breadth of video tools through a software-as-a-service (“SaaS”) model. The company provides a single turnkey solution to create, collaborate and communicate with video to solve the challenges of businesses as they face significant barriers to using video, consisting of time, cost, lack of technical expertise and the need to pay for and manage multiple software vendors. Vimeo’s cloud-based software eliminates these barriers and solves essential video needs such as creation, collaboration, distribution, hosting, marketing, monetization, and analytics. The company serves a growing community of over 260 million registered users in over 190 countries. Vimeo users include creative professionals, small businesses, marketers, agencies, schools, non-profits and large organizations.

InVideo aims to re-invent video creation and make it available globally. The company believes that the future of video creation is in the browser, collaborative and easy across devices. InVideo offers more than five thousand unique designer templates and more than nine million premium media also, including iStock, a large audio library for every mood or genre and various customizable features. InVideo has a flexible timeline, and its drag-and-drop editor further improves the user experience of making professional videos instantly on the browser. The company has specialties such as text-to-video, video editing, content creation, media stitching, natural language processing, customized workflows, editorial videos, video making, video production, AI, entertainment, video content, SaaS, and video editing..

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