Artificial Intelligence (AI) Text Generator Market Size, Share, Opportunities, And Trends By Type (Text To Text, Speech To Text), By Application (Education, Smart Electronics, Media And Entertainment, Enterprises, Others), And By Geography - Forecasts From 2024 To 2029

The Artificial Intelligence (AI) text generator market is expected to grow at a CAGR of 16.54%, reaching a market size of US$1,409.706 million in 2029 from US$655.725 million in 2024.

AI text generator is an artificial intelligence application tool that can create text paragraphs and written content. These tools assist in generating various content, from formal text content to be included in emails to casual content to be posted on social media and blogs.

Text generators incorporating artificial intelligence (AI) technology make reviewing and evaluating content from numerous online sources, including blogs, posts, webpages, search engines, and unstructured data like videos easier. This allows for the creation of text conversions in both text-to-text and speech-to-text formats. The combination of deep learning algorithms and natural language processing models utilized in AI text generators has proven effective. Hence, this model is being widely applied in media and entertainment, education, media electronics, marketing, and other enterprise-related fields.

The deployment of AI text generators is lowering the amount of time and resources a company spends on content creation procedures, which is stimulating the market's development. Hence, considering the various factors promoting its growth, the AI text generator market can be anticipated to expand over the forecast period.

Artificial Intelligence (AI) text generator Market Drivers:

• Increasing demand in content creation is anticipated to boost the market growth

AI text generators are increasingly gaining popularity by offering a remarkable way to make greatly engaging content. The rising demand for such software has also made the authors develop more user-friendly alternatives, enabling them to be used in texts about almost any topic. As they allow computers to learn from previous information and generate texts in human language, NLG (Natural Language Generation) and ML (Machine Learning) are two examples of tools for creating textual content using AI.

ML approaches enable decision-making, performance improvement, and outcome forecasting. To teach itself through machine learning, an electronic device requires information and the ability to interpret this information. After being exposed to enough data, the machine learns to do the job unsupervised.

• Increasing demand for SEO tools is anticipated to drive market growth

The digitalization of various industries is resulting in stiff competition between different companies to establish their market presence through marketing and promotional strategies such as SEO. When SEO tools are integrated into AI text-generating applications, a company's website receives higher-quality and more visible web traffic.

Most AI-based text-generating programs, like Frase AI, WriterSonic, Scalenut, and Article Forge, have search engine optimization components built in to guarantee that the content appears in search results and give users information about search volume, keyword density, and other metrics. Hence, the AI text generator market is being driven by the expanding content creator economy and the integration of SEO tools.

• Increasing use of text-to-speech is propelling the market growth

It is possible to fluidly translate between languages, summarize lengthy texts, and even create original content thanks to these complex algorithms that can convert one type of textual data into another at a high speed. Many industries heavily rely upon such text-to-text functions, including academic research, multilingual communication platforms, and content creation. Businesses would save time by automating such processes while ensuring that generated content is accurate and consistent.

Moreover, integrating AI text generators into speech-to-text applications has transformed human interaction with technology. Therefore, these systems enhance documentation and communication since they can convert spoken words into written texts accurately through elaborate algorithms. This includes generating editable and searchable forms out of voice records, interviews, or speeches.

• High demand from the e-commerce industry is boosting the market growth

E-commerce, a major component of the digital economy, depends significantly on enticing and convincing content to draw in customers. AI text generators are essential in this field because they automate the creation of product descriptions, marketing copy, and customer reviews. Thanks to these technologies, e-commerce platforms can now attractively present products, which improves customer experience and increases sales.

AI text generators support targeted marketing campaigns by producing content that offers customers personalized promotions and recommendations based on their purchase history and preferences. In the e-commerce industry, this degree of customization raises customer retention rates and enhances customer satisfaction, resulting in the development of enduring relationships between companies and customers.

Artificial Intelligence (AI) Text Generator Market Restraints:

• Lack of emotional depth is anticipated to impede market growth

The text and content developed by AI text generators are inspired by already existing ones. Presently, AI text generators powered by artificial intelligence cannot create genuine, unique content that conveys intricate emotions and feelings. Despite the enhanced quality and performance of AI text generators to resemble human writing styles, they cannot imitate creativity and individualistic artistry associated with a specific person. As such, this may restrict the growth of AI text generators to marketing firms and artists who mainly employ emotive appeal to convince their clients.

Artificial Intelligence (AI) text generator Market Geographical Outlook

• North America is witnessing exponential growth during the forecast period

The strong regional AI technology market and its rapid software advancements are stimulating the application of AI text generators. These generators create reports based on data, prepare annual accounts, generate product and location descriptions, and produce marketing content to target different market segments in multiple languages across North America.

The emergence of new AI text generator startups like Jasper, Quillbot, Hypotenuse AI, and Copysmith, along with the production of AI text-generating software by well-known IT companies like Google, IBM, and Microsoft, are creating opportunities for the AI text generator market in North America. For example, Jasper AI has supplied top US firms like IBM, Hubspot, Airbnb, and HarperCollins with its AI text-generating software. As a result, North America's share in the global AI text generator market during the forecast period is anticipated to increase.

Artificial Intelligence (AI) Text Generator Market Key Launches

• In March 2023, the open-source generative AI enterprise Stability AI acquired Init ML, which is responsible for developing the Clipdrop image tool. This acquisition seems to bolster Stability AI’s commitment to building software solutions by using its dependable open-source generative intelligence models. It also provides significant computing power and state-of-the-art AI technology to Clipdrop's development team, accelerating the development of its next-generation imaging tools.
• In February 2023, Wix Ltd. introduced a new AI-based text generator feature to its Wix Editor platform. This feature can generate customized taglines, titles, and paragraph texts to enhance users' content creation experience by integrating OpenAI's GPT-3 technology.

The Artificial Intelligence (AI) text generator market is segmented and analyzed as follows:

• By Type
  • Text to Text
  • Speech to Text
• By Application
  • Education
  • Smart Electronics
  • Media and Entertainment
  • Enterprises
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits to the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. CXO Perspective

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. ARTIFICIAL INTELLIGENCE (AI) TEXT GENERATOR MARKET BY TYPE

5.1. Introduction

5.2. Text to Text

5.3. Speech to Text

6. ARTIFICIAL INTELLIGENCE (AI) TEXT GENERATOR MARKET BY APPLICATION

6.1. Introduction

6.2. Education

6.3. Smart Electronics

6.4. Media and Entertainment

6.5. Enterprises

6.6. Others

7. ARTIFICIAL INTELLIGENCE (AI) TEXT GENERATOR MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Type

7.2.2. By Application

7.2.3. By Country

7.2.3.1. USA

7.2.3.2. Canada

7.2.3.3. Mexico

7.3. South America

7.3.1. By Type

7.3.2. By Application

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.2. Argentina

7.3.3.3. Others

7.4. Europe

7.4.1. By Type

7.4.2. By Application

7.4.3. By Country

7.4.3.1. United Kingdom

7.4.3.2. Germany

7.4.3.3. France

7.4.3.4. Italy

7.4.3.5. Spain

7.4.3.6. Others

7.5. Middle East and Africa

7.5.1. By Type

7.5.2. By Application

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.2. UAE

7.5.3.3. Others

7.6. Asia Pacific

7.6.1. By Type

7.6.2. By Application

7.6.3. By Country

7.6.3.1. China

7.6.3.2. Japan

7.6.3.3. India

7.6.3.4. South Korea

7.6.3.5. Australia

7.6.3.6. Singapore

7.6.3.7. Indonesia

7.6.3.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Microsoft Bing ChatGPT

9.2. Jasper AI Inc.

9.3. You.com

9.4. Writesonic Inc.

9.5. Google LLC

9.6. SpinBot

9.7. Anlatan

9.8. AI-Writer

9.9. SYSOTEL Technologies Pvt. Ltd.

9.10. Frase Inc.

Microsoft Bing ChatGPT

Jasper AI Inc.

You.com

Writesonic Inc.

Google LLC

SpinBot

Anlatan

AI-Writer

SYSOTEL Technologies Pvt. Ltd.

Frase Inc.