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- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global AI text generator market size was exhibited at USD 395.69 million in 2022 and is projected to hit around USD 2036.14 million by 2032, growing at a CAGR of 17.8% during the forecast period 2023 to 2032.

Key Pointers:

• The component, the services segment held a dominant share of 84.1% in 2022. 
• The text-to-text segment accounted for the largest revenue share of 44.9% in 2022.
• The e-commerce segment accounted for the largest revenue share of 25.7% in 2022. 
• North America accounted for the largest revenue share of 38.7% in 2022.
• Asia Pacific is anticipated to register the fastest CAGR of 19.8% 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) and machine 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.

North America accounted for the largest revenue share of 38.7% in 2022. 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, and deep learning in this region also propels market growth.

Asia Pacific is anticipated to register the fastest CAGR of 19.8% from 2023 to 2032. 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.

AI text generator Market Segmentation

AI text generator Market Key Players And Regions