PUBLISHER: The Business Research Company | PRODUCT CODE: 1619629
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619629
Generative artificial intelligence (AI) in video creation involves using AI, particularly generative models, to create, edit, or enhance video content. This technology employs deep learning algorithms, such as generative adversarial networks (GANs) or transformer models, to automate and streamline various aspects of video production. It is transforming the media and entertainment industry by making video production more accessible, cost-effective, and innovative.
The primary deployment types for generative AI in video creation are on-premise and cloud. On-premise deployment entails installing software directly on a company's own servers and infrastructure, offering greater control and customization but requiring higher maintenance and initial costs. This technology is utilized across marketing, education, entertainment, social media, and other areas by various end-users including large enterprises, small and medium enterprises (SMEs), and individual content creators.
The generative AI in video creation market research report is one of a series of new reports from The Business Research Company that provides generative AI in video creation market statistics, including generative AI in video creation industry global market size, regional shares, competitors with a generative AI in video creation market share, detailed generative AI in video creation market segments, market trends and opportunities, and any further data you may need to thrive in the generative AI in video creation industry. This generative AI in video creation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The generative artificial intelligence (AI) in video creation market size has grown exponentially in recent years. It will grow from $0.27 billion in 2023 to $0.32 billion in 2024 at a compound annual growth rate (CAGR) of 20.3%. The growth observed in the historic period can be attributed to factors such as the expansion of influencer marketing, the need for rapid content production, increased mobile device usage, the rise of video-based advertising, and the growth of video games and interactive entertainment.
The generative artificial intelligence (AI) in video creation market size is expected to see exponential growth in the next few years. It will grow to $0.68 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The anticipated growth during the forecast period can be attributed to factors such as the increasing demand for personalized content, the expansion of social media platforms, the rise of remote work and virtual collaboration, higher engagement rates of video content, and the growth of e-learning and online education. Major trends expected in this period include advancements in AI technology, the need for cost-effective video production, the availability of cloud computing, the adoption of augmented reality (AR) and virtual reality (VR), and technological integration with other media formats.
The rise of social media and digital platforms is expected to drive growth in the generative artificial intelligence (AI) in video creation market. Social media and digital platforms offer online spaces for users to interact, share content, and engage through various digital tools. Their expansion is fueled by broader internet access, advancements in mobile technology, and increased user engagement. Generative AI enhances video creation for these platforms by producing high-quality, visually appealing content efficiently and cost-effectively, boosting user engagement. For example, a report from We Are Social in January 2024 highlighted a 5.6% increase in social media user identities, with 266 million new users joining in 2023 alone. This growth signifies an average of 8.4 new social media users per second globally, propelling the demand for generative AI in video creation.
Leading companies in the generative AI video creation market are developing advanced technologies like generative AI-enabled 3D workflows to improve efficiency and creativity. These workflows use AI to automate and enhance the creation, modeling, and rendering of 3D assets, making the design process more efficient and effective. For instance, in June 2024, WPP Plc, a UK-based creative transformation company, introduced an AI-powered Production Studio. This studio allows advertisers to produce more content for marketing campaigns by integrating generative AI. It facilitates 3D model creation, centralizes updates, and ensures high-quality, culturally relevant visuals. Key features include AI-driven multilingual copy generation, dynamic content customization, and the use of real-time data to enhance asset effectiveness and user experience.
In July 2024, Canva, an Australian graphic design company, acquired Leonardo AI for an undisclosed amount. Canva plans to integrate Leonardo's Phoenix foundation model and proprietary technology into its offerings. Leonardo AI will also continue to develop its web platform and capabilities independently. Leonardo AI, an Australia-based, provides generative AI solutions for video creation.
Major companies operating in the generative artificial intelligence (AI) in video creation market are Meta Platforms Inc., Vimeo Inc., NVIDIA Corporation, Adobe Inc., Kaltura Inc., OpenAI, Canva, Google DeepMind Technologies Limited, D-ID, Animoto Inc., Veed Ltd., Descript Inc., Synthesia Ltd., Magisto Ltd., Render, Synthesis AI Inc., Wibbitz Ltd., DeepBrain, Elai.io, Moovly, Pictory Corp., Rephrase AI, Runway AI Inc., Vidnami, Lumen5
North America was the largest region in the generative artificial intelligence (AI) in video creation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative artificial intelligence (AI) in video creation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the generative artificial intelligence (AI) in video creation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The generative artificial intelligence (AI) in video creation market consists of revenues earned by entities by providing services such as synthetic media creation, video summarization, virtual set and scene generation and content moderation and compliance. The market value includes the value of related goods sold by the service provider or included within the service offering. The generative artificial intelligence (AI) in video creation market also includes sales of ai video generators, automated editing software, ai-powered video enhancement tools and speech and lip-sync synthesis software. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Generative Artificial Intelligence (AI) In Video Creation Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on generative artificial intelligence (AI) in video creation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for generative artificial intelligence (AI) in video creation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The generative artificial intelligence (AI) in video creation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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