AI Video Generator Market Scope and Size by 2031
The AI video generator market size is projected to reach US$ 1986.34 million by 2031 from US$ 496.83 million in 2023. The market is expected to register a CAGR of 18.9% in 2023–2031. The growing demand for video content and growing social media are likely to remain key to AI video generator market trends.
AI Video Generator Market Analysis
The AI video generator market has experienced significant growth in recent years, owing to factors such as technological advancements, mounting social media, and the cumulative demand for video content. The demand for video content is increasing due to the rising acceptance of visual environments across businesses. Many market players use AI video generators as software solution to make e-learning videos, AI news generators, and many others. The ability of AI video generators to create realistic and engaging videos based on any subject from a few texts, blogs, or video prompts fuels its adoption among the users.
AI Video Generator Market Overview
An artificial intelligence (AI) video generator is a software tool that allows users to generate video in minutes as per their requirements using AI technology. Usually, a text-to-video process is used for the AI video generators. It allows the user to write a text, and with the help of an AI video generator, the video is generated. Content creators and marketers widely use AI video generators to create videos that can be used for social media, websites, reels, and other platforms to attract more viewers, followers, and customers.
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AI Video Generator Market: Strategic Insights
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We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
AI Video Generator Market: Strategic Insights
Naveen
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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AI Video Generator Market Drivers and Opportunities
Features of AI Video Generatorsto Favor Market
AI video generators use natural language processing (NLP) and machine learning (ML) algorithms to create new videos from scratch based on user input. They are trained on large datasets, which allows the Al video generator to learn or analyze data and produce the accurate videos that users require. As a result, it is an effective tool for producing high-quality content quickly, leading to user adoption and fueling the Al video generator market size. Al video generators offer significant time savings for content creators and marketers, which further leads to its demand.
Soaring investment for AI video generators
Al video generator is a technology that produces high-quality video content using text, blogs, and large datasets. Al video generators are becoming increasingly popular due to their cost-effectiveness compared to traditional video creators. The Al video generator can create personalized videos based on user data. Constant advancements in Al and machine learning algorithms have resulted in high-quality, realistic, and high-resolution videos. These video generators save time for marketers and video creators by automating tasks such as video editing, captioning, and animation. It also allows them to save money on third-party sources hired specifically for video production. Thus, due to such features of AI video generator is leading to its adoption. The market players are making investments in AI video generator technology to flourish its the market more. For example, in November 2023, Pika, a company creating an AI-powered platform, announced that it raised US$ 55 million in a funding round led by Lightspeed Venture Partners with participation from Homebrew, Conviction Capital, SV Angel, Ben’s Bites and notable angel investors including Quora founder Adam D’Angelo, ex-GitHub CEO Nat Friedman and Giphy co-founder Alex Chung.
AI Video Generator Market Report Segmentation Analysis
Key segments that contributed to the derivation of the AI video generator market analysis are component, organization size, and application.
- By component, the market is segmented into solution and services. The solution segment held the largest market share in 2023.
- Based on the organization size, the market is segmented into large enterprise and SMEs. The SMEs segment is expected to grow with the highest CAGR.
- By application, the market is segmented into marketing, education, social media, and others. The social media segment is expected to grow with the highest CAGR.
AI Video Generator Market Share Analysis by Geography
The geographic scope of the AI video generator market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific region is expected to grow with the highest CAGR. Social media is growing at an exponential rate in the region. In addition, the region has influencers with a large follower. Thus, to keep growing their followers, the influencers upload regular videos, which generates the demand for advanced technological solutions that can help them to generate the videos faster, further driving the AI video generator market growth in Asia Pacific. The factors such as growth in demand for video content and adoption of AI technology are the major factors driving the Asia Pacific AI video generator market.
AI Video Generator Market Report Scope
AI Video Generator Market News and Recent Developments
The AI Video Generator Marketis evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- In February 2024, artificial intelligence (AI) company OpenAI launched new AI tool that can generate highly realistic 60-second videos based off a simple text prompt, a jump forward in quality for AI videos and “deepfakes” that have already been used to deceive voters. The new tool, called Sora, is initially available to a small group of artists and filmmakers as well as “red teamers,” or researchers who try to find ways that an AI tool can be used for malicious purposes,. (Source: The Washington Post, Press Release, 2024)
- In January 2024, Google introduced Lumiere, a text-to-video diffusion model designed for synthesizing videos that portray realistic, diverse, and coherent motion. To end the pivotal challenge in video synthesis, they introduced a Space-Time U-Net architecture that generates the entire temporal duration of the video at once through a single pass in the model. This is in contrast to existing video models which synthesize distant keyframes followed by temporal super-resolution -- an approach that inherently makes global temporal consistency difficult to achieve. (Source: Lumiere, Press Release, 2024)
AI Video Generator Market Report Coverage and Deliverables
The “AI Video Generator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
The incremental growth expected to be recorded for the global AI video generator market during the forecast period is US$ 1489.51 million.
The global AI video generator market is expected to reach US$ 1986.34 million by 2031.
The key players holding majority shares in the global AI video generator market are Pictory, Synthesia Limited., HeyGen, Deepbrain AI, and OpenAI.
Government focus on flourishing AI technology is anticipated to play a significant role in the global AI video generator market in the coming years.
The growing demand for video content and growing social media are the major factors that propel the global AI video generator market.
The global AI video generator market was estimated to be US$ 496.83 million in 2023 and is expected to grow at a CAGR of 18.9% during the forecast period 2023 - 2031.
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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