AI Text Generator Market Trends and Forecast
The future of the global AI text generator market looks promising with opportunities in the media & entertainment, healthcare, education, telecommunication, social media & networking, and ecommerce markets. The global AI text generator market is expected to reach an estimated $1.1 billion by 2030 with a CAGR of 16.3% from 2024 to 2030. The major drivers for this market are increase in demand for automated content creation across various industries, growth of natural language processing (NLP) technologies enabling advanced text generation capabilities, and highest adoption of AI text generators in marketing, customer service, and content generation for digital platforms.
• Lucintel forecasts that text to text is expected to witness higher growth over the forecast period.
• Within this market, media & entertainment is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Text Generator Market
• United States – OpenAI launches GPT-4, advancing AI text generation capabilities for applications in chatbots, content creation, and language translation.
• China – Baidu develops ERNIE (Enhanced Representation through Knowledge Integration), enhancing AI text generation for Chinese language understanding and applications.
• United Kingdom – UK government funds AI text generator research to enhance language processing technologies for legal and healthcare sectors.
• India – Indian startups develop AI text generators for regional languages, aiming to facilitate digital content creation and communication in diverse linguistic environments.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Text Generator Market by Segment
The study includes a forecast for the global AI text generator market by type, application, and region.
AI Text Generator Market by Type [Value from 2018 to 2030]:
• Text to Text
• Speech & Voice to Text
• Image & Video to Text
AI Text Generator Market by Application [Value from 2018 to 2030]:
• Media & Entertainment
• Healthcare
• Education
• Telecommunication
• Social Media & Networking
• Ecommerce
• Others
AI Text Generator Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Text Generator Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI text generator companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI text generator companies profiled in this report include-
• Pepper Content
• INK
• Writesonic
• AI Writer
• Hypotenuse AI
• OpenAI
• Hyperwrite
Recent Development in the AI Text Generator Market
• OpenAI: OpenAI releases GPT-3, an advanced AI text generator capable of natural language understanding and generating human-like text for various applications.
• Google: Google integrates BERT (Bidirectional Encoder Representations from Transformers) into search algorithms, improving AI text generation and understanding of user queries.
• Microsoft: Microsoft develops Turing-NLG, an AI text generator aimed at generating coherent and contextually accurate natural language text for diverse applications.
• IBM: IBM launches Project Debater, utilizing AI for generating persuasive arguments and engaging in meaningful debates with humans on complex topics.
Features of the Global AI Text Generator Market
Market Size Estimates: Ai text generator market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Ai text generator market size by type, application, and region in terms of value ($B).
Regional Analysis: Ai text generator market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI text generator market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI text generator market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the AI text generator market size?
Answer: The global AI text generator market is expected to reach an estimated $1.1 billion by 2030.
Q2. What is the growth forecast for AI text generator market?
Answer: The global AI text generator market is expected to grow with a CAGR of 16.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the AI text generator market?
Answer: The major drivers for this market are increase in demand for automated content creation across various industries, growth of natural language processing (NLP) technologies enabling advanced text generation capabilities, and highest adoption of AI text generators in marketing, customer service, and content generation for digital platforms.
Q4. What are the major segments for AI text generator market?
Answer: The future of the global AI text generator market looks promising with opportunities in the media & entertainment, healthcare, education, telecommunication, social media & networking, and ecommerce markets.
Q5. Who are the key AI text generator market companies?
Answer: Some of the key AI text generator companies are as follows:
• Pepper Content
• INK
• Writesonic
• AI Writer
• Hypotenuse AI
• OpenAI
• Hyperwrite
Q6. Which AI text generator market segment will be the largest in future?
Answer: Lucintel forecasts that text to text is expected to witness higher growth over the forecast period.
Q7. In AI text generator market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI text generator market by type (text to text, speech & voice to text, and image & video to text), application (media & entertainment, healthcare, education, telecommunication, social media & networking, ecommerce, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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