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The Global AI Text Generator Market size is expected to reach $1 billion by 2028, rising at a market growth of 17.8% CAGR during the forecast period
Large media organisations employ artificial intelligence (AI) text generators as adaptable tools for a variety of tasks like composing blog posts, webpage content, articles on particular subjects, and more.
New York, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global AI Text Generator Market Size, Share & Industry Trends Analysis Report By Application, By Component, By Industry, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412001/?utm_source=GNW
As AI text generators produce texts in just a few seconds, this tool’s time- and money-saving features are anticipated to accelerate the industry’s growth.
For example, TextCortex 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. Artificial intelligence is no more a sci-fi fantasy; it is a necessary component of modern life, helping people in various circumstances, often without their knowledge.
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 a tonne of data from already existing stuff, including websites, search engines, and even online movies.
A few words, phrases, and paragraphs can be used by artificial intelligence (AI) text generators to generate billions of words on the internet and whole articles. The expansion of the business is being boosted by rising technical advancements, which are expanding the application of software in downstream applications.
Developers have created a variety of alternatives for customers as a result of the rise in demand for such software tools, making it possible to create content for practically any topic using the program. The AI text generator tool includes a considerable amount of machine learning (ML) and natural language generation (NLG), which allow computers to learn from and improve on prior data as well as interact with human language.
COVID-19 Impact Analysis
With the COVID-19 pandemic outbreak, the growth of conversational AI-based technology, like conversational bots, has increased to a great extent. The pandemic would further positively impact the overall growth of the global AI Text Generator Market in the forecast period. Although, the initial phase of the pandemic has brought various obstacles in the business domain due to the low availability of a skilled workforce, imposition of lockdown restrictions, and travel ban. Conversely, the adoption of chatbot solutions within various verticals like retail & e-commerce, healthcare, and telecommunication industries has increased during the pandemic, which would propel the growth of the market throughout the forecast period.
Market Growth Factors
Efficient And Cost-Effective Solution
Modern technology like AI writing has the potential to directly affect content creation. AI writing generators are capable of creating content that is both interesting and SEO-friendly, and they can be used to supplement copywriters’ work or even take their place entirely. Time and money are the most important factors for the majority of project managers trying to profit from AI writers; thankfully, AI engines assist in boosting both profitability and productivity.
The Rise Of Sophisticated Speech-To-Text Programs For Students With Disabilities
The speech-to-text API technology enables a computer to convert video or audio-based content into text, enabling students who have trouble hearing or speaking to read correctly and finish their assignments on their own. A deaf-mute student, for instance, can communicate with classmates and professors with the use of speech-to-text software. As a result, this system serves as assistive technology, enabling people with disabilities to utilise ICT. Therefore, it is projected that these factors will accelerate the growth of the AI Text Generator market as a whole throughout the projection period.
Market Restraining Factors
Hindrance From The Transcription Of Audio From Numerous Channels
This technology has a huge challenge when transcribing audio from several sources since it becomes difficult to define many terms, leading to inaccurate transcriptions or captions. Additionally, background noise, poor microphone quality, reverb and echo, accent shifts, and background noise each have the potential to reduce the accuracy of the transcription. Hence, these factors are anticipated to slow down the growth of the overall AI Text Generator market.
Component Outlook
Based on component, the AI text generator market is classified into Solutions and Services. In 2021, the Solutions segment acquired a Substantial revenue share of the market. APIs and Software Development Kits (SDKs) in the software market enable existing software or applications to convert video-based material to text format. The suppliers also provide related solutions to help streamline processes and create seamless results.
Application Outlook
Based on application, the market is classified into Text to Text, Speech/Voice to Text, and Image/Video to Text. In 2021, the text-to-text segment generated the largest revenue share. Copywriters, SEO companies, and marketers have found AI text generators to be useful tools as their use has increased. Users can benefit from AI text generators by improving consistency in the material, concentrating on more macro-level details, and optimizing the content, among other things.
Industry Outlook
Based on the Industry, the AI Text Generator Market is segmented into Media & Entertainment, Healthcare, Education, IT & telecommunications, Social Media & Networking, Ecommerce, and Others. The IT & Telecom segment gained a significant revenue share of the market in 2021. Through speech recognition, analytics, and reporting, the IT and telecom industries appear to be adopting voice technology to automate and enhance customer experience. Moreover, a growing number of IT and telecom companies are utilizing these solutions to streamline their communication and other business operations.
Regional Outlook
Based on the region, the market is divided into North America, Europe, Asia Pacific, and LAMEA. In terms of revenue share in 2021, North America dominated the AI text generator market worldwide. Key advantages, including enhanced user experience, greater content creation, more ranking keywords, time savings for content development, and rising investments in developed nations for implementing AI text generator technology, are propelling the market growth.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AI Writer Technologies FZ-LLC, CopyAI, Inc., Frase, Inc. (Copysmith Artificial Intelligence, Inc.), HyperWrite (OthersideAI, Inc.), INK Content, Inc., Jasper, Inc., Humanity Plus Technologies Private Limited (LongShot.AI), OpenAI, L.L.C., Pepper Content Pvt. Ltd., and Writesonic, Inc.
Scope of the Study
Market Segments covered in the Report:
By Application
• Text To Text
• Speech/Voice To Text
• Image/Video To Text
By Component
• Services
• Solutions
By Industry
• E-commerce
• Media & Entertainment
• Social Media & Networking
• Healthcare
• IT & Telecommunication
• Education
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• AI Writer Technologies FZ-LLC
• CopyAI, Inc.
• Frase, Inc. (Copysmith Artificial Intelligence, Inc.)
• HyperWrite (OthersideAI, Inc.)
• INK Content, Inc.
• Jasper, Inc.
• Humanity Plus Technologies Private Limited (LongShot.AI)
• OpenAI, L.L.C.
• Pepper Content Pvt. Ltd.
• Writesonic, Inc.
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06412001/?utm_source=GNW
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