Surge in demand for video content and rise in adoption of AI technology in video editing software is expected to drive the global artificial intelligence (AI) video generator/editor market growth.
NEW CASTLE, Del., Sept. 2, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “AI Video Generator/Editor Market by Component (Software and Services), Deployment (On-Premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium Enterprises), Platform (Desktop and Mobile), Source (Text to Video, PowerPoint to Video, and Spreed sheet to Video), and Application (Marketing, Education, E-commerce Marketing, Social Media, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the “Ai Video Generator/Editor Market” was valued at $0.6 billion in 2023, and is estimated to reach $9.3 billion by 2033, growing at a CAGR of 30.70% from 2024 to 2033.
Prime Determinants of Growth
Surge in demand for video content and rise in adoption of AI technology in video editing software are the factors expected to propel the growth of the global artificial intelligence (AI) video generator/editor market. However, the high implementation cost of AI in video generator/editor is anticipated to hamper the growth of global market. On the contrary, advancements in AI technology are further likely to create lucrative opportunities for the growth of the global market.
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Report Coverage & Details:
Report Coverage
Details
Forecast Period
2024–2033
Base Year
2023
Market Size in 2023
$0.6 Billion
Market Size in 2033
$9.3 Billion
CAGR
30.70 %
Segments covered
Component, Deployment, Enterprise Size, Platform, Source, Application, and Region
Drivers
Surge in demand for video content
Rise in adoption of AI technology in video editing software
Opportunity
Advancements in AI technology
Restraint
High implementation cost of AI in video generator/editor
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Segment Highlights –
The software segment held the highest market share in 2023
By component, the software segment held the highest market share in 2023, accounting for more than three-fourths of the artificial intelligence (AI) video generator/editor market revenue and is estimated to maintain its leadership status during the forecast period. This is attributed to continuous innovation in AI-driven editing tools, user-friendly interfaces, and increased adoption of automated video generation software across diverse industries for efficient content creation, which propel the overall market growth. However, the in-services segment is expected to attain the largest CAGR of 33.4% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to increasing demand for AI-powered video editing solutions, personalized customer support, managed services, and the growing need for specialized expertise in implementing advanced AI technologies, which is drives the segment growth in the artificial intelligence (AI) video generator/editor market.
The on-premise segment held the highest market share in 2023
By deployment, the on-premise segment accounted for the largest share in 2023, contributing for more than half of the artificial intelligence (AI) video generator/editor market revenue. This is attributed to its enhanced data security, customization capabilities, and preference among enterprises for full control over video production infrastructure, which is further expected to propel the overall market growth. However, the cloud segment is expected to attain the largest CAGR of 32.8% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to its scalability, lower operational costs, seamless remote access, and growing adoption of cloud-based AI video editing solutions by businesses for flexible workflows. Thereby, driving the growth of this segment in the global artificial intelligence (AI) video generator/editor market.
The large enterprises segment held the highest market share in 2023
By enterprise size, the large enterprises segment accounted for the largest share in 2023, owing to their substantial investment capacity, need for advanced AI-driven video solutions, and demand for scalable, high-performance tools to handle complex video production and large-scale content creation, which propels overall market growth. However, the small medium size enterprises segment is expected to attain the largest CAGR of 33.1% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to increasing affordability of AI video tools, ease of use, and growing demand for efficient content creation solutions among smaller businesses. Thereby, driving the growth of this segment in the global artificial intelligence (AI) video generator/editor market.
The desktop segment held the highest market share in 2023
By platform, the desktop segment accounted for the largest share in 2023, contributing for more than two-thirds of the artificial intelligence (AI) video generator/editor market revenue. This is attributed to its superior processing power, advanced video generating/editing features, and preference among professionals for high-quality and complex video production tasks, which is further expected to propel the overall market growth. However, the mobile segment is expected to attain the largest CAGR of 34.3% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to the increasing adoption of smartphones, enhanced mobile processing capabilities, and the growing demand for on-the-go video editing solutions among users and content creators. Thereby, driving the growth of this segment in the global artificial intelligence (AI) video generator/editor market.
The text to video segment held the highest market share in 2023
By source, the text to video segment accounted for the largest share in 2023, contributing for more than three-fourths of the artificial intelligence (AI) video generator/editor market revenue. This is attributed to its ability to rapidly convert text content into engaging video formats, enhancing content creation efficiency and accessibility for various applications, which is further expected to propel the overall market growth. However, the PowerPoint to video segment is expected to attain the largest CAGR of 33.9% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to the increasing need for converting static presentations into dynamic videos, enhancing audience engagement, and streamlining content creation for business and educational purposes. Thereby, driving the growth of this segment in the global artificial intelligence (AI) video generator/editor market.
The marketing segment held the highest market share in 2023
By application, the marketing segment accounted for the largest share in 2023, contributing for more than one-third of the artificial intelligence (AI) video generator/editor market revenue. This is attributed to the high demand for engaging video content in digital marketing, advertising campaigns, and social media strategies to boost brand visibility and customer engagement, which is further expected to propel the overall market growth. However, the social media segment is expected to attain the largest CAGR of 33.3% from 2023 to 2033 and is projected to maintain its lead position during the forecast period, owing to the growing emphasis on video content for social media engagement, the need for frequent and dynamic content updates, and the rise of video-centric platforms such as YouTube and Instagram. Thereby, driving the growth of this segment in the global artificial intelligence (AI) video generator/editor market.
North America region held the highest market share in 2023
By region, the North America segment held the highest market share in terms of revenue in 2023, owing to o its advanced technological infrastructure, high adoption rate of AI-driven video solutions, substantial investments in digital marketing, and a strong presence of major tech companies driving innovation in the video generator/editor market. However, the Asia-Pacific segment is projected to attain the highest CAGR of 34.4% from 2023 to 2033, owing the increasing adoption of AI-powered video creation tools, the rise of content creation platforms, and the growing demand for personalized video content in the region.
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Leading Market Players: –
Synthesia Limited.Lumen5GliaStudioMuse.aiRAWSHORTS, INC.Pictory.aiDESIGNS.AIADOBE INC.Wondershare Technology Group Co., Ltd.InVideoVeed LimitedKineMaster CorporationDescriptVimeo.com, Inc.PearlMountainTechSmith CorporationHeyGen Technology Inc.CapCut
The report provides a detailed analysis of these key players in the artificial intelligence (AI) video generator/editor market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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