PUBLISHER: Allied Market Research | PRODUCT CODE: 1344371
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344371
According to a new report published by Allied Market Research, titled, "AI Text Generator Market," The AI text generator market was valued at $423.84 million in 2022, and is estimated to reach $2.2 billion by 2032, growing at a CAGR of 18.2% from 2023 to 2032.
Additionally, AI text generators helps to collect data, and proofread. In addition, AI text generators may write an article, which is almost impossible for any human to differentiate from human-written material. For instance, recently, GPT-3 was used in AI Dungeon to generate text-based adventure games. Moreover, the chatbot also could pass graduate-level examinations in several fields. With the use of AI technology in various fields, companies from other fields is capable to accumulate by means of AI in their applications. Furthermore, AI text generators require much less time to create content than humans. Usually, it is in seconds as compared to the hours humans take. This is a crucial factor in boosting the growth of the global AI text generator market.
Growing trend of Natural Language Processing (NLP) technology and rising demand for cost effective and quality content generator tools propels growth of the global AI text generator market. In addition, increasing demand for personal assistants and chatbots fuel growth of the market. However, ethical and legal concerns and data privacy and security issues is expected to impede the market growth. Furthermore, data privacy and security issues is expected to provide lucrative opportunities for the market during the forecast period.
The AI text generator market is segmented on the basis of by offering, deployment mode, application, industry vertical, and region. On the basis of offering, the market is categorized into solution and service. On the basis of deployment mode, the market is fragmented into on-premise and cloud. On the basis of application, the market is divided into text-to-text, speech/voice to text, and image/video to text. By end-user, it is classified into media & entertainment, healthcare, education, telecommunication, social media & networking, E-commerce, and others. By region, the AI text generator market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the AI text generator market include OpenAI AI Writer, CopyAI, Inc., Writesonic, Inc., Pepper Content Inc., Frase, Inc., HyperWrite (Otherside AI), Hypotenuse AI, INK Inc., and Jasper AI, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.