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DUBLIN, May 29, 2023 (GLOBE NEWSWIRE) – The Artificial Intelligence (AI) Text Generators Market – Forecasts 2023 to 2028 report has been added to ResearchAndMarkets.com’s offering.
The AI text generator market was valued at US$430.925 million in 2021.
AI Text Generator is an artificial intelligence application tool with the ability to create text paragraphs and written content. These tools help generate a variety of content, ranging from formal text content for inclusion in emails to casual content for posting on social media and blogs.
The integration of AI technology into the AI Text Generator makes it easy to examine and analyze existing content from a wide range of sources, including blogs, posts, search engines, websites and unstructured data such as videos, to create text-to-text Speech conversions -to-text formats.
The efficiency of the integrated version of the natural language processing model with deep learning algorithms used in AI text generators leads to widespread application of AI text generators in media and entertainment, education, media electronics, marketing and other business-related sectors.
The use of AI text generators reduces the company’s time and resources spent on content creation, which stimulates the development of the market. Therefore, the AI Text Generator market can be expected to grow over the forecast period considering the various factors fueling its growth.
market leader
The rise of social media platforms and content generation
There are more than 207 million professional content creators worldwide. The massive development of content creators and influencers through blogs, social media posts and media streaming channels leads to higher demand for AI text generators. AI text generators help content creators create effective text content that can be used as headlines in their posts or blogs to increase viewer engagement with their content and profile. In addition, leading brands and companies sponsor content creators and influencers to market their products.
The story goes on
For example, a survey by Adobe Company found that European brands’ marketing spend on creator marketing strategies increased from €326 million in 2016 to €1.3 billion in 2020. Consequently, the demand for AI text generators is growing due to the need for creators and influencers to be able to develop effective copywriting content to reach their target audience.
Growing demand for SEO tools in marketing
The digitization of different industries leads to fierce competition between different companies who want to establish their market presence through marketing and advertising strategies such as SEO. Integrating SEO tools with AI text generation applications improves the visibility and quality of web traffic on a company’s website.
Most AI-based text generation software like Frase AI, WriterSonic, Scalenut, and Article Forge integrate with search engine optimization features to ensure content’s presence in search engines and provide details of keyword density, search volume, and other information to customers. Therefore, the growing economy of content creators and the integration of SEO tools are driving the demand for the AI text generator market.
The lack of emotional depth in the content generated by AI text generators could limit their scope.
The texts and content developed by AI text generators are inspired by existing content. Currently, text generators based on artificial intelligence are unable to produce original, unique content that expresses complex emotions and feelings. Although the quality and performance of AI text generators has been improved to resemble human writing, they cannot replicate the creativity and distinctive writing style of any given person. This could limit the expansion of AI text generators to marketing agencies and creators who primarily use emotional appeal to persuade their customers.
Market Developments:
In February 2023, Wix Ltd. Company introduced a new AI-powered text generator feature in its Wix editor platform that can generate custom slogans, titles, and paragraph text to offer its users an enhanced content creation experience by integrating OpenAI’s GPT-3 technology.
In December 2022, Canva Company introduced new features to its Canva Doc platform, including a Magic Write feature that helps with copyright processes and generates text content using AI technology.
North America holds a significant share of the AI text generator market and is expected to witness healthy growth over the forecast period.
The existence of a strong market for AI technology and the rapid advances of AI software are stimulating the use of AI text generators to create data-based reports, prepare financial statements, create product and location descriptions, and create marketing content for different market segments in multiple languages across North America.
The AI text generation software manufactured by established IT companies like Google, IBM and Microsoft along with the emergence of new AI text generator startups like Jasper, Quillbot, Hypotenuse AI and Copysmith present opportunities for the expansion of the AI text generator market in North America. For example, Jasper AI has supplied its AI text generation software to leading US companies such as IBM, Hubspot, Airbnb and HarperCollins. Hence, North America’s market share of the international AI text generator market is expected to increase during the forecast period.
Market segmentation:
By type
text to text
language to text
On application
Training
Intelligent electronics
media and entertainment
Pursue
Other
According to geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Other
Europe
Great Britain
Germany
France
Italy
Spain
Other
Middle East and Africa
Saudi Arabia
United Arab Emirates
Other
Asia Pacific
China
Japan
India
South Korea
Australia
Singapore
Indonesia
Other
Main topics covered:
1 INTRODUCTION
2. RESEARCH METHOD
3. SUMMARY
4. MARKET DYNAMICS
5. AI TEXT GENERATOR MARKET BY TYPE
6. AI TEXT GENERATOR MARKET BY APPLICATION
7. AI TEXT GENERATOR MARKET BY GEOGRAPHY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
Mentioned companies
For more information about this report, visit https://www.researchandmarkets.com/r/nwva71
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