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.
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.
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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..
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
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