Artificial Intelligence (AI) text generators use algorithms to calculate billions of words on the internet and create complete articles from a few words, phrases, and paragraphs. Moreover, AI text generator is one of the tools used to quickly and easily create blog entries by simply entering a few keywords. People and corporations have been inspired to do the absurd by the astonishing growth of artificial intelligence and robots based on AI text generators. Furthermore, AI is a necessary component of modern life, helping people in various circumstances, often without their knowledge. Moreover, technological advancements are Increasing the software's use in downstream applications, propelling the market's expansion. AI generators provide one of the best ways to create highly engaging content. As the demand for this software Increases, developers are trying to produce different options for users to generate content on any topic. Several content writers use AI text generators to improve their writing skills.
Additionally, AI text generators helps to collect data, and proofread. In addition, AI text generators may write an article, which is almost impossible for any human to differentiate from human-written material. For instance, recently, GPT-3 was used in AI Dungeon to generate text-based adventure games. Moreover, the chatbot also could pass graduate-level examinations in several fields. With the use of AI technology in various fields, companies from other fields is capable to accumulate by means of AI in their applications. Furthermore, AI text generators require much less time to create content than humans. Usually, it is in seconds as compared to the hours humans take. This is a crucial factor in boosting the growth of the global AI text generator market.
Growing trend of Natural Language Processing (NLP) technology and rising demand for cost effective and quality content generator tools propels growth of the global AI text generator market. In addition, Increasing demand for personal assistants and chatbots fuel growth of the market. However, ethical and legal concerns and data privacy and security issues is expected to impede the market growth. Furthermore, data privacy and security issues is expected to provide lucrative opportunities for the market during the forecast period.
The AI text generator market is segmented on the basis of by offering, deployment mode, application, industry vertical, and region. On the basis of offering, the market is categorized into solution and service. On the basis of deployment mode, the market is fragmented into on-premise and cloud. On the basis of application, the market is divided into text-to-text, speech/voice to text, and image/video to text. By end-user, it is classified into media & entertainment, healthcare, education, telecommunication, social media & networking, E-commerce, and others. By region, the AI text generator market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the AI text generator market Include OpenAI AI Writer, CopyAI, Inc., Writesonic, Inc., Pepper Content Inc., Frase, Inc., HyperWrite (Otherside AI), Hypotenuse AI, INK Inc., and Jasper AI, Inc. These players have adopted various strategies to Increase their market penetration and strengthen their position in the industry.
Additionally, AI text generators helps to collect data, and proofread. In addition, AI text generators may write an article, which is almost impossible for any human to differentiate from human-written material. For instance, recently, GPT-3 was used in AI Dungeon to generate text-based adventure games. Moreover, the chatbot also could pass graduate-level examinations in several fields. With the use of AI technology in various fields, companies from other fields is capable to accumulate by means of AI in their applications. Furthermore, AI text generators require much less time to create content than humans. Usually, it is in seconds as compared to the hours humans take. This is a crucial factor in boosting the growth of the global AI text generator market.
Growing trend of Natural Language Processing (NLP) technology and rising demand for cost effective and quality content generator tools propels growth of the global AI text generator market. In addition, Increasing demand for personal assistants and chatbots fuel growth of the market. However, ethical and legal concerns and data privacy and security issues is expected to impede the market growth. Furthermore, data privacy and security issues is expected to provide lucrative opportunities for the market during the forecast period.
The AI text generator market is segmented on the basis of by offering, deployment mode, application, industry vertical, and region. On the basis of offering, the market is categorized into solution and service. On the basis of deployment mode, the market is fragmented into on-premise and cloud. On the basis of application, the market is divided into text-to-text, speech/voice to text, and image/video to text. By end-user, it is classified into media & entertainment, healthcare, education, telecommunication, social media & networking, E-commerce, and others. By region, the AI text generator market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the AI text generator market Include OpenAI AI Writer, CopyAI, Inc., Writesonic, Inc., Pepper Content Inc., Frase, Inc., HyperWrite (Otherside AI), Hypotenuse AI, INK Inc., and Jasper AI, Inc. These players have adopted various strategies to Increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global AI text generator market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global AI text generator market trend is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2023 to 2032 is provided to determine the market potential.
Key Market Segments
By Offering
- Solution
- Services
By Deployment Mode
- On-Premises
- Cloud
By Application
- Text to Text
- Speech/Voice to Text
- Image/Video to Text
By End User
- Media and Entertainment
- Healthcare
- Education
- Telecommunication
- Social Media and Networking
- eCommerce
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- INK Inc.
- Hypotenuse AI
- OpenAI
- Frase, Inc.
- CopyAI, Inc.
- Pepper Content Inc.
- Writesonic, Inc.
- HyperWrite (Otherside AI)
- Jasper AI, Inc.
- AI Writer
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AI TEXT GENERATOR MARKET, BY OFFERING
CHAPTER 5: AI TEXT GENERATOR MARKET, BY DEPLOYMENT MODE
CHAPTER 6: AI TEXT GENERATOR MARKET, BY APPLICATION
CHAPTER 7: AI TEXT GENERATOR MARKET, BY END USER
CHAPTER 8: AI TEXT GENERATOR MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'AI Text Generator Market,' The AI text generator market was valued at $423.84 million in 2022, and is estimated to reach $2.2 billion by 2032, growing at a CAGR of 18.2% from 2023 to 2032.AI text generators produce texts from organized big data; they may identify patterns and trends based on previous human writing and offer fresh ideas to produce more, and occasionally even better, messages. In order to achieve this, the AI gathers plenty of data from already existing stuff, including websites, search engines, and even online movies.
Key factors driving the growth of the AI text generator market include the growing trend of Natural Language Processing (NLP) technology, rising demand for cost-effective and quality content generator tools, and increasing demand for personal assistants and chatbots. The increasing demand for cost-effective and quality content generator tools is impacting the market growth. One of the main factors influencing the adoption of the AI text generator market is its affordability. These technologies provide a more economical alternative to conventional content development techniques, by eliminating the requirement for substantial personnel and related expenses. Businesses may significantly reduce costs while preserving quality by automating the process of content development. Several regional governments are making strategic investments in expanding text generation operations, owing to a large number of countries committing to reduce stress added to text generator techniques by higher costs. Further, public and private businesses are undertaking increased initiatives to embrace advanced technology, with plans for integrating a new text generator technique to modernize the aging system. For instance, in January 2023, Microsoft Corporation raised $10 billion in funding for OpenAI to renew the partnership, accelerate AI advancements, and support both businesses' future deployment of innovative technology. This investment strategy enhances supercomputing at scale and creates new AI-powered experiences. Therefore, the AI text generator market gained wider traction among end-users, taking advantage of such advanced technologies to create effective content.
The market also offers growth opportunities to the key players in the market. Increasing adoption of multimodal text generation with other media types such as images, audio, or video has proliferated the demand for AI text generators. This is expected to enable the creation of content that combines textual information with other media types, resulting in more engaging and comprehensive content experiences. Leveraging the multiple modalities and use of smart data in text generation could enhance user engagement and interaction. In addition, the combination of text with visual or auditory elements may capture the user’s attention, increase comprehension, and provide a more immersive content consumption experience. Thus, the technological breakthrough in the development of text generators led to a surge in demand for multimodal text generators to improve optimization. These factors are expected to propel market growth. Further, the implementation of multimodal text generators leverages information from different modalities to enhance the understanding of the content context. It also widens the scope of applications for AI text generators across various domains, such as multimedia content creation, video summarization, automated image or video captioning, and content localization. Hence, several companies and government authorities are leveraging these technologies to improve customer experiences. For instance, in January 2023, Alethea.AI unveiled CharacterGPT, a multimodal AI system that creates interactive characters from a description in natural language. This innovation will deliver new customer experiences coupled with modernized technology infrastructure in the text generation. These technical developments in improved AI text generators will significantly pave the way for numerous opportunities for market growth.
The AI text generator market is segmented into offering, deployment mode, application, end-user, and region. On the basis of offering, the market is categorized into solutions and service. As per deployment mode, the market is fragmented into on-premise and cloud. According to application, the market is divided into text-to-text, speech/voice-to-text, and image/video-to-text. By end-user, it is classified into media & entertainment, healthcare, education, telecommunication, social media & networking, e-commerce, and others. Region wise, it is analyzed across North America (the U.S., Canada), Europe (the UK, Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The key players profiled in the study include OpenAI, AI Writer, CopyAI, Inc., Writesonic, Inc., Pepper Content Inc., Frase, Inc., HyperWrite (Otherside AI), Hypotenuse AI, INK Inc., and Jasper AI, Inc. The players in the market have been actively engaged in the adoption of various strategies such as acquisition, and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in February 2021, Pepper Content launched an AI-enabled content generator called Peppertype.ai tool. This tool helps creators in creating professional-level content within seconds. Additionally, the tool assists businesses to produce quality content including blog ideas, social media captions, tweets, product descriptions, newsletters, podcasts, marketing ideas, and others. This tool leverages machine learning (ML) and artificial intelligence (AI).
Key Market Insights
- By offering, the solution segment was the highest revenue contributor to the market and is estimated to reach $13,717.85 million by 2032, with a CAGR of 17.2%. However, the services segment is estimated to be the fastest-growing segment with a CAGR of 19.9% during the forecast period.
- By application, the speech/voice to text segment dominated the global market and is estimated to reach $841.71 million by 2032, with a CAGR of 20.4%. However, the same segment is expected to be the fastest growing segment with a CAGR of 20.4% during the AI text generator Market Forecast.
- Based on region, North America was the highest revenue contributor, accounting for $168.14 million in 2021, and is estimated to reach $733.41 million by 2031, with a CAGR of 16.1%.
Companies Mentioned
- INK Inc.
- Hypotenuse AI
- OpenAI
- Frase, Inc.
- CopyAI, Inc.
- Pepper Content Inc.
- Writesonic, Inc.
- HyperWrite (Otherside AI)
- Jasper AI, Inc.
- AI Writer
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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