AI Text Generator Market Size, Share & Trends Analysis Report By Component (Solution, Service), By Application (Text To Text, Speech/Voice To Text, Image/Video To Text), By End-use, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global AI text generator market size was valued at USD 335.1 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.3% from 2022 to 2030. 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. Rising technological advancements are augmenting the industry’s growth by increasing the use of software in downstream applications. This software is used currently in industries like media & entertainment, healthcare, education, manufacturing, e-commerce, automotive, and others. AI text generators are gaining significant prominence as they provide a great way for highly engaging content creation. With the increase in demand for these software tools, developers have also invented various options for users, making the software available for almost any topic for content generation.natural language generation(NLG) andmachine learning(ML) are a significant part of the AI text generator tool, as they enable computers to learn and improve past data and help computers interact with human language.

The ML techniques enable decision-making, performance improvement, and outcome prediction. A computer system needs data and the ability to evaluate that data to learn via machine learning. The computer system progressively learns how to carry out a task on its own after being exposed to enough data.

NLG is the process of creating content from scratch. This can be done by a computer program or algorithm and is used in a variety of applications, which include text recognition, chatbots, AI writing, and machine translation. Increasing migration towards voice-enabled applications is leveraging machine learning,augmented reality, and natural language generation to automate conversations.

For instance, Jasper AI is an AI-powered text generator tool that helps to write web copy and other materials in minutes just by working with a few keywords about the needed content, and Jasper AI generates a full piece of content in under 60 seconds. Other software like Anyword, RytrGrowthBar, Writecream, etc., are also designed to perform similar tasks. The rising eminence of these tools is subsequently augmenting the AI text generation market growth.

Component Insights

Based on the component, the services segment held a dominant share of 83.1% in 2021. It includes a variety of services provided to enterprises that employ AI text-generation tools. These services assist businesses in the deployment and utilization of machine learning and natural language generation-based tools efficiently and make use of the entire potential for text generation. The significant increase in the deployment of AI test-generation tools across a range of industries is likely to ascend the growth in demand over the coming years.

Key players provide service-based AI text generators; for instance, Open AI's APIs have been used in tens of thousands of applications to accomplish everything, from addressing challenging categorization issues to assisting users in learning new languages. API enables developers to evaluate apps before they go live, continuously improve safety tools, scale over time, and better understand the effects of their technology.

Application Insights

The text-to-text segment accounted for the largest revenue share of 43.4% in 2021. The rising prominence of AI text generators has proven to be a convenient tool for copywriters, SEO agencies, and brands. AI text generators offer users advantages such as ensuring improved consistency in the content, focusing on more macro-level details and optimizing the content, etc.

Text-to-text models are trained to understand how two texts map to one another, for instance, translation from one language to another. Text-to-text models may do various tasks, such as summarizing, translating, and classifying texts, because they are trained to be multitasking machines. For instance, QuillBot (Course Hero), LLC has the software, QuillBot that is used for text-to-text content generation within a few seconds.

演讲/ voice-to-text segment is expected to expand with a significant growth rate over the forecast period, owing to the rising cancellation of conferences and events by technology behemoths, which has resulted in the holding of digital conferences. Speech/voice-to-text solutions offer high accuracy, low costs, and faster transcription. Multiple enterprises are adopting these solutions to speed up processes.

Speech/voice-to-text technologies are used on various devices, including smartphones, tablets, and laptops, and the government is promoting these technologies in education. For instance, in May 2022, Northern Illinois University professors launched a software that uses speech-to-text API technology to help students learn the Nemeth code (a Braille code for mathematics).

End-use Insights

Thee-commercesegment accounted for the largest revenue share of 24.6% in 2021. The e-commerce industry segment's rise can be attributed to various key factors, including speed & quality, low cost for creating quality & catchy content, and engagement campaigns. Various companies have tools or software that generates text through AI, including Rytr, Jasper, Copysmith, Word AI, and many more.

For instance, with the AX Semantics e-commerce product description generating software, e-commerce businesses can automate the creation of search engine-optimized product descriptions for thousands of products across different channels.

The media and entertainment sector is anticipated to witness significant growth over the forecast period. Data journalism allows content producers to turn insights from available data into publishable structured content. The publishers use NLG software for election reporting or data-driven journalism, pollution monitoring, stock table earnings, sports scores, and crime blotters, freeing journalists to work on more creative and engaging journalism material.

Sports reporting automation enables publications to cover a broader range of sports and audiences, including amateur leagues. Publishing hyper-localized information gives media organizations an advantage by keeping them more relevant and up-to-date than competitors.

Regional Insights

North America accounted for the largest revenue share of 37.7% in 2021. Key benefits, such as improved user experience, increased content output, more ranked keywords, saving time for content production, and increasing investments in developed countries such as the U.S. and Canada for deploying AI text generator technology, are driving market expansion.

Furthermore, growing content industries in these countries have fueled the growth of AI text generators in this region. Rising usage of technologies such as artificial intelligence (AI),computer vision, machine learning, anddeep learningin this region also propels market growth.

Asia Pacific is anticipated to register the fastest CAGR of 19.2% from 2022 to 2030.This growth can be attributed to the region's rapid adoption of AI and increased penetration of digital content services. The rapid expansion of domestic firms like Pepper Content Pvt. Ltd provides content writing and language translation services to industries like logistics, automotive, IT and software, travel, legal, and many more.

For instance, in February 2021, Pepper Content Pvt. Ltd launched an AI-enabled text generator. The assistive tool is based on GPT3, a language algorithm that produces quick ideas. This content generator includes blog ideas, tweets, social media captions, marketing ideas, and product descriptions.

Key Companies &Market Share Insights

The ever-increasing rivalry in the text generation industry, the demand for time-saving, increasing the output of the content, and receiving more traffic impedes the expansion of AI in text generation business. These traits explain the performance risk in a competitive business environment and the demand for AI Text Generator solutions. Market participants have recently engaged in acquisitions and collaborations to achieve a prominent position.

For instance, in October 2022, Copysmith acquired Frase and Rytr and introduced Copyrytr, a collection of AI-powered content marketing tools and SEO service providers. This new strategic brand alliance will enable products to continue providing industry-leading solutions to consumers while accelerating collaboration and innovation in the AI text-generating field. The Copyrytr collaboration will enable quicker product development and the creation of an AI tool offering to serve various sectors, including freelancers, individuals, teams, agencies, and large organizations. Some prominent players in the global AI text generator market include:

• AI Writer

• CopyAI, Inc.

• Frase, Inc

• Hyperwrite

• INK

• 贾斯帕公司

• Long Shot

• OpenAI

• Pepper Content Pvt. Ltd.

• Rytr LLC

• StoryAI

• Writesonic, Inc.

AI Text Generator Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 392.0 million
Revenue forecast in 2030	USD 1.40 billion
Growth Rate	CAGR of 17.3% from 2022 to 2030
Base year for estimation	2021
Historical data	2017 - 2020
Forecast period	2022 - 2030
Quantitative units	Revenue in USD million/billion and CAGR from 2022 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Components, application, end-use, region
Regional scope	North America; Europe; Asia Pacific; South America; MEA
Country scope	U.S.; Canada; Mexico; U.K.; Germany; France; China; Japan; India; Brazil
Key companies profiled	AI Writer; CopyAI, Inc.; Frase, Inc.; Hyperwrite; INK; Jasper, INC.; Long Shot; OpenAI; Pepper Content Pvt. Ltd.; Rytr; StoryAI; Writesonic, Inc.
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

GlobalAI Text Generator MarketSegmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global AI text generator market report based on components, application, end-use, and region:

• Component Outlook (Revenue, USD Million, 2017 - 2030)

  • Solutions

  • Services

• ApplicationOutlook(Revenue, USD Million, 2017 - 2030)

  • Text To Text

  • Speech/Voice To Text

  • Image/Video To Text

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Media & Entertainment

  • Healthcare

  • Education

  • IT & Telecommunication

  • Social Media & Networking

  • E-commerce

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • 德国

    • France

  • Asia Pacific

    • China

    • Japan

    • India

  • 南美

    • Brazil

  • Middle East and Africa (MEA)