AI Video Creation Platform Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Component (Solution, and Services), By Deployment (Cloud-based, and On-premises), By Organization Size (SMEs, and Large Enterprises), By Application (Marketing, Education, E-commerce, Social Media, Gaming & Entertainment, Government, and Others) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global AI Video Creation Platform Market was valued at USD 678.3 Million in 2022 and is anticipated to reach a value of USD 2,670.0 Million by 2030 expanding at a CAGR of 18.7% between 2023 and 2030.

An AI video creation platform is a technology-based solution that leverage artificial intelligence to create videos using provided information from various sources such as text, images, and audio files. It is a tool that allow users to create a video from scratch using artificial intelligence technology. It enables users to create a videos from any written data, making it more prevalent among individuals. AI video creation platforms save time and costs by editing the video itself, which make it more popular among people. These platforms assist users in creating high-quality videos by automating complex tasks, reducing manual efforts, and saving time. AI video creation platforms have several benefits including affordability, faster, more efficient, versatile, and easy to use. The market is influenced by factors such as increasing need for video content, efficiency and cost-effectiveness, increasing application in social media, and growing use in it & telecom industries. AI video creation platforms cater to a diverse range of users, including businesses, educators, individuals, content creators, social media influencers, and corporate employers.

AI Video Creation Platform Market Major Driving Forces

Increasing Need for Video Content: Owing to the growing demand for video content, several industry influencers are creating various videos to meet this increasing requirements. The growing interest in video content among brands is contributed to the greater attention it receives from people.

Efficiency and Cost-Effectiveness: AI video creation platforms automate various tasks such as video editing, animation, and production process. This automation significantly reducing production time and costs required for video creation, making it more efficient and cost-effective for content creators.  

Increasing Application in Social Media: The market is significantly driven by the growing application in social media, influenced by the increasing use of smartphones and technological advancements. The rise of social media platforms and the growing influence of online influencers has further fueled the demand for video content.

Growing Use in IT & Telecom Industries: The growing adoption in IT and telecommunication industries is another significant driver of the global AI video creation platform market. AI video creation platforms are useful for converting data text form to video form, which is beneficial in employee training.  Due to this IT and telecom industries are rapidly adopting these platforms to save time and costs, which is impacting the market growth.

AI Video Creation Platform Market Key Opportunities

Technological Advancements: With the increasing digitalization, people are shifting towards video-based content owing to its ease of understanding. Integration of cutting-edge technologies such as augmented reality, virtual reality, and blockchain with AI video creation platforms to create interactive and immersive video experiences.

Educational and Organization Training: The increasing demand in educational and organizations training is anticipated to offer tremendous opportunities for market growth. AI video creation platforms play a significant role in the education and organizational training solutions.

E-commerce Applications: The growing utilization of e-commerce applications is expected to provide significant opportunity for market growth. AI video creation platforms have the potential to provide significant advantages to diverse teams across multiple industries. Integrating AI video creation platforms with e-commerce websites to enhance the product display and customer experience will further provide better opportunities for market expansion.

AI Video Creation Platform Market Key Trends

·         Major companies are focusing on providing cost-effective and high-quality services to meet high consumer demand

·         Educational and organizations are increasingly using AI video creation platforms for effective teaching is a major trend in market

·         IT and telecommunication companies are adopting AI video creation platforms for employee training and converting text data into video form

·         Increasing use of AI video creation platforms in retail sector for gathering and analyzing retail data and customer demands

·         The significant trend of producing video quickly is growing continuously in the media and entertainment sectors with increasing demand for video content

·         Automated editing workflows with personalization and customization are gaining prominence, with AI-driven platforms automating complex editing tasks

·         Ongoing advancements in AI, such as computer vision, machine learning, virtual reality, and natural language processing are improving the capabilities of AI video creation platforms  

·         Customized and personalization AI video creation platform becoming a trend, allowing consumers to tailor their videos to specific audiences

Region-wise Market Insights

Asia Pacific accounted for the largest market share at 36.8% in 2022 whereas, North America is expected to register the fastest growth, expanding at a CAGR of 20.2% between 2023 and 2030.

In Asia Pacific, the market is characterized by the rising user base for social media, increasing technological advancements, and rising number of internet users in the region contribute to the market growth. Additionally, the high utilization of AI platforms, growth of young population, presence of major players, and growing adoption of artificial intelligence in educational and organizations are some other factors contributing to the market growth in the Asia Pacific region. In North America, the demand is driven by increasing technological advancements, growing adoption of AI tools, and the increase in AI uses in educational organizations within region. Europe is a growing market with increasing demand for video content in marketing and advertising. The Middle East and Africa has been witnessing a growing demand with increasing internet penetration, and expanding digital presence. Each region underscore regulatory changes, with technological advancements, and shift in consumer preferences.

Market Competition Landscape

The global AI video creation platform market is rapidly evolving and becoming increasingly competitive. The global AI video creation platform market is characterized by intense competition among several key companies. These major players in the market are focusing on technological advancements in AI-powered platforms for providing better services. Also key players in the AI video creation platform market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, design differentiation, and the incorporation of innovative technologies to meet evolving consumer preferences. Furthermore, key companies are constantly innovating and adding new features to the platforms for enhanced customer experiences. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Key players in the global AI video creation platform market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         Adobe Inc.

·         Synthesia LLC.

·         Lumen5 Technologies Ltd.

·         Microsoft Corporation

·         Animoto

·         Magisto

·         HeyGen

·         Raw Shorts, Inc.

·         InVideo

·         Wibbitz

·         RunwayML

·         Pictory

·         Elai.io

·         Veed Limited.

·         Musai Inc.