AI Text Generator Market
AI Text Generator Market Size, Share & Trends Analysis Report by Component (Solutions, and Services), by Application (Text to Text, Speech/Voice to Text, and Image/Video to Text), and by End User (Media & Entertainment, Healthcare, Education, IT & Telecommunication, Social Media & Networking, E-commerce, and Others (Legal and Compliance)), Forecast Period (2024-2031)
AI text generator market is anticipated to grow at a CAGR of 18.2% during the forecast period (2024-2031). AI text generators have become increasingly popular in the global market owing to their ability to automate content creation and provide cost-effective solutions for businesses. These tools leverage advanced NLP technology and personalized data to generate tailored content that captures audience attention and enhances marketing campaigns. Additionally, they optimize resource allocation by eliminating the need for human writers and offering efficient content creation options.
Market Dynamics
Global Adoption of AI Services
The increasing usage of AI services globally, especially in retail, indicates the increasing dependence on AI solutions to handle business obstacles and maximize novel prospects. According to the National Center for Biotechnology Information, in September 2020, retailers are utilizing AI for chatbots, content generation, and customer insights, reaching the top 1.0% of customers worth 18 times more.
Growing Demand for Visual Content
By rapidly generating engaging films from written prompts, AI text generators satisfy the increasing demand for visual content. This satisfies the tastes of viewers who are consuming more and more visual content. For instance, in February 2024, OpenAI introduced Sora, a text-to-video model capable of generating realistic, complex videos for up to one minute. The model offers creative expression and is being developed with red-teaming exercises and stakeholder engagement for responsible use.
Market Segmentation
- Based on components, the market is segmented into solutions and services.
- Based on application, the market is segmented into text-to-text, speech/voice-to-text, and image/video-to-text.
- Based on end-user, the market is segmented into media & entertainment, healthcare, education, IT & telecommunication, social media & networking, e-commerce, and others (legal and compliance).
Text to Text is Projected to Emerge as the Largest Segment
Text-to-text segment is expected to hold the largest share of the market. The primary factors supporting the segment's growth include the size, growth patterns, and competitiveness of the global AI text generator market is projected to boost innovation and investment in content production solutions. For instance, in February 2024, Elastic Email introduced an AI text tool to its email designer, allowing users to create text or generate images faster. The tool, which integrates with a cutting-edge language model, allows users to type prompts and have the content delivered to them. The tool is available for paragraphs, headings, and lists, allowing users to adjust and revise the prompts as needed.
E-Commerce Segment to Hold a Considerable Market Share
The rapid expansion of e-commerce demands advanced devices and approaches for the establishment, supervision, and enhancement of stores, and generative AI systems provide inventive capabilities. For instance, in May 2023, Hype launched its generative AI e-commerce software-as-a-service (SaaS), aiming to revolutionize the creation, optimization, and management of online stores. The platform combines AI with intuitive design, removes barriers for new merchants, and offers advanced analytics.
Regional Outlook
The global AI text generator market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Demand for Automation In Asia-Pacific Region
AI text generators have been employed by businesses increasingly to boost productivity and efficiency while lowering expenses applicable to customer service and content generation. According to the INDIAai -the National AI Portal of the Government of India, in December 2023, the global AI market witnessed significant growth in 2022, valued at $136.5 billion, with estimates projecting a sustained increasing trend and a $15.7 trillion contribution by 2030.
Global AI Text Generator Market Growth by Region 2024-2031
North America Holds Major Market Share
The US has a significant demand for digital content owing to its high internet and social media consumption, and AI text generators help to produce superior content rapidly. According to the US States of America, in February 2023, the US had a total of 311.3 million internet users, which accounted for 91.8% of the population. In January 2023, there were 246.0 million social media users in the US, representing 72.5% of the total population.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the global AI text generator market include Amazon Web Services, Inc., Adobe, IBM Corp., Salesforce, Inc., and OpenAI, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market. For instance, in November 2023, TechSmith Corporation introduced generative AI scripting and voiceover features in Audiate, an audio recorder, and text-based editing solution. These features allow creators to produce near-instant audio projects without a writer or voice actor, offering faster transcription and multi-voice audio generation in 14 languages.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global AI text generator market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Adobe Services & Software
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. OpenAI
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Salesforce, Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global AI Text Generator Market by Component
4.1.1. Solutions
4.1.2. Services
4.2. Global AI Text Generator Market by Application
4.2.1. Text to Text
4.2.2. Speech/Voice to Text
4.2.3. Image/Video to Text
4.3. Global AI Text Generator Market by End-user
4.3.1. Media & Entertainment
4.3.2. Healthcare
4.3.3. Education
4.3.4. IT & Telecommunication
4.3.5. Social Media & Networking
4.3.6. E-commerce
4.3.7. Others (Legal and Compliance)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. Algolia, Inc.
6.2. Amazon Web Services, Inc.
6.3. Cognilytica
6.4. ContentBot.ai’
6.5. CopyAI, Inc.
6.6. TextlyDeepAI, Inc.
6.7. Frase, Inc.
6.8. Hypotenuse Technologies Pte. Ltd.Retina AI Inc.
6.9. IBM Corp.
6.10. Jasper AI, Inc.
6.11. Narrativa OÜ
6.12. NeuralText
6.13. OthersideAI Inc.
6.14. Pepper Content Inc.
6.15. Rytr LLC
6.16. Writesonic, Inc.
6.17. Yseop S.A.S
1. GLOBAL AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
2. GLOBAL AI TEXT GENERATOR SOLUTIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL AI TEXT GENERATOR SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION 2023-2031 ($ MILLION)
5. GLOBAL AI TEXT GENERATOR IN TEXT-TO-TEXT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL AI TEXT GENERATOR IN SPEECH/VOICE-TO-TEXT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBAL AI TEXT GENERATOR IN IMAGE/VIDEO TO TEXT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
8. GLOBAL AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
9. GLOBAL AI TEXT GENERATOR FOR MEDIA & ENTERTAINMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL AI TEXT GENERATOR FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
11. GLOBAL AI TEXT GENERATOR FOR EDUCATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. GLOBAL AI TEXT GENERATOR FOR IT & TELECOMMUNICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
13. GLOBAL AI TEXT GENERATOR FOR SOCIAL MEDIA & NETWORKING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
14. GLOBAL AI TEXT GENERATOR FOR E-COMMERCE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
15. GLOBAL AI TEXT GENERATOR FOR OTHER END-USER MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
16. GLOBAL AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
17. NORTH AMERICAN AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
18. NORTH AMERICAN AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
19. NORTH AMERICAN AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
20. EUROPEAN AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
21. EUROPEAN AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
22. EUROPEAN AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
23. ASIA-PACIFIC AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
24. ASIA-PACIFIC AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
25. ASIA-PACIFIC AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
26. REST OF THE WORLD AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
27. REST OF THE WORLD AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
28. REST OF THE WORLD AI TEXT GENERATOR MARKET RESEARCH AND ANALYSIS BY END-USER, 2023-2031 ($ MILLION)
1. GLOBAL AI TEXT GENERATOR MARKET SHARE BY COMPONENT, 2023 VS 2031 (%)
2. GLOBAL AI TEXT GENERATOR SOLUTIONS MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL AI TEXT GENERATOR SERVICES MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL AI TEXT GENERATOR MARKET SHARE BY APPLICATION, 2023 VS 2031 (%)
5. GLOBAL AI TEXT GENERATOR IN TEXT-TO-TEXT MARKET SHARE BY REGION, 2023 VS 2031 (%)
6. GLOBAL AI TEXT GENERATOR IN SPEECH/VOICE-TO-TEXT MARKET SHARE BY REGION, 2023 VS 2031 (%)
7. GLOBAL AI TEXT GENERATOR IN IMAGE/VIDEO TO TEXT MARKET SHARE BY REGION, 2023 VS 2031 (%)
8. GLOBAL AI TEXT GENERATOR MARKET SHARE BY END-USER, 2023 VS 2031 (%)
9. GLOBAL AI TEXT GENERATOR FOR MEDIA & ENTERTAINMENT MARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL AI TEXT GENERATOR FOR HEALTHCARE MARKET SHARE BY REGION, 2023 VS 2031 (%)
11. GLOBAL AI TEXT GENERATOR FOR EDUCATION MARKET SHARE BY REGION, 2023 VS 2031 (%)
12. GLOBAL AI TEXT GENERATOR FOR IT & TELECOMMUNICATION MARKET SHARE BY REGION, 2023 VS 2031 (%)
13. GLOBAL AI TEXT GENERATOR FOR SOCIAL MEDIA & NETWORKING MARKET SHARE BY REGION, 2023 VS 2031 (%)
14. GLOBAL AI TEXT GENERATOR E-COMMERCE MARKET SHARE BY REGION, 2023 VS 2031 (%)
15. GLOBAL AI TEXT GENERATOR FOR OTHER END-USER MARKET SHARE BY REGION, 2023 VS 2031 (%)
16. GLOBAL AI TEXT GENERATOR MARKET SHARE BY REGION, 2023 VS 2031 (%)
17. US AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
18. CANADA AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
19. UK AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
20. FRANCE AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
21. GERMANY AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
22. ITALY AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
23. SPAIN AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
24. REST OF EUROPE AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
25. INDIA AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
26. CHINA AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
27. JAPAN AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
28. SOUTH KOREA AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
29. REST OF ASIA-PACIFIC AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
30. LATIN AMERICA AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
31. MIDDLE EAST AND AFRICA AI TEXT GENERATOR MARKET SIZE, 2023-2031 ($ MILLION)
