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AI Text Generator Global Market Report 2024 Global Market Analysis, Trends, Growth, Research And Forecast 2033
AI Text Generator Global Market
As per the report, the AI text generator market size has grown exponentially in recent years. It will grow from $0.51 billion in 2023 to $0.61 billion in 2024 at a compound annual growth rate (CAGR) of 20.7%. The AI text generator market size is expected to see exponential growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 21.0%.
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Impact Of Cloud-Based Platforms On The Growth Of The AI Text Generator Market
The increasing adoption of cloud-based platforms is expected to propel the growth of the AI text generator market going forward. Cloud-based platforms refer to services delivered over the Internet instead of hosted on local servers or personal computers. The adoption of cloud-based platforms is due to digital transformation, cost-effectiveness, security and compliance, integration and interoperability, and disaster recovery. AI text generators play a crucial role in enhancing cloud-based platforms' functionality, efficiency, and user experience by automating content creation, improving support services, accelerating data preparation, enhancing NLP capabilities, facilitating documentation, and enabling automated reporting and insights. For instance, in December 2023, according to the European Union, a Netherlands-based international organization, the percentage of European Union businesses that bought cloud computing services increased by 4.2 percentage points in 2023 compared to 2021. Therefore, the increasing adoption of cloud-based platforms is driving the growth of the AI text generator market.
OpenAI Unveils Sora, A Groundbreaking AI Text-to-Video Generator For Seamless Content Creation
Major companies operating in the AI text generator market focus on developing innovative technologies, such as text-to-video AI content generators, to offer more advanced and tailored solutions for various industries and applications. A text-to-video AI content generator is a software application or system powered by artificial intelligence (AI) algorithms that automatically converts text-based content into video format. This technology allows users to input written text, such as scripts, articles, or descriptions, and generate corresponding video content without manual video production or editing. For instance, in February 2024, OpenAI Inc., a US-based AI research and deployment company, launched Sora, an AI Text-to-Video Generator. It offers advanced algorithms to ensure smooth transitions between scenes and synchronizes visual elements with the narrative, resulting in professional-quality videos with minimal effort. Sora provides diverse customization options, allowing users to tailor video styles, themes, and visual effects to suit their specific needs. This user-friendly interface empowers individuals and businesses to create engaging video content efficiently, driving innovation and creativity in the digital landscape.
The AI text generator market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Application: Text To Text, Speech And Voice To Text, Image And Video To Text
3) By End-Use: Media And Entertainment, Healthcare, Education, Information Technology (IT) and Telecommunication, E-commerce, Social Media and Networking
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Major companies operating in the AI text generator market are Google LLC, Microsoft Corporation, Meta Platforms, Huawei Technologies Co. Ltd., International Business Machines Corporation, System Analysis Program, Salesforce.com Inc., Adobe Systems Incorporated, OpenAI Inc., Palantir Technologies Inc., AI Writer Technologies FZ-LLC, Frase Inc., LONGSHOT AI INC., Orpheus Technology Ltd., Course Hero Inc., Jasper AI INC., OthersideAI Inc., CopyAI Inc., AISense Inc., Writesonic Inc., Scalenut Technologies Pvt. Ltd., Pepper Content Pvt. Ltd., INK Content Inc., Hypotenuse Technologies Pte. Ltd., Sassbook AI Pte. Ltd
Contents of the report:
1. Executive Summary
2. AI Text Generator Market Report Structure
3. AI Text Generator Market Trends And Strategies
4. AI Text Generator Market - Macro Economic Scenario
5. AI Text Generator Market Size And Growth
…..
27. AI Text Generator Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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