AI-generated video market value projected to hit nearly $10 billion in ten years

Initial, often problematic, stumbling blocks notwithstanding, Allied Market Research asserts that AI-generated video is about to become a "lucrative" source of potential profit worldwide.

The sector was valued at about $600 million in 2023 according to the group's findings, yet could grow to become a ~$9.3 billion industry by 2033, growing by an impressive compound annual rate of30.7% over those years.

That growth is thought to be influenced by the intersection of the all-pervading demand for video content and the rise ofAI, facilitated by all thosePCsandlaptopswith supposedly dedicated platforms such asRyzen AI.

The steady influx of "AIsmartphones" could also thought to play a role in this trend - although theiPhone 16series might, of course, come to be seen as the more major turning point for the industry very soon.

Accordingly, theAI videomarket could benefit from easy targets and applications such as social media, marketing and education.

Allied Market Research also projects that enterprise-grade applications will also drive growth in the market. They include the evolution of videos generatedfrom textto those based on spreadsheets and even PowerPoint presentations in the near future.

Then again, video generatorsstill have their issues as a source of opportunity, the expense and resources currently involved included. Accordingly, the technology will have to get much more cost- and energy-efficient in the near future in order to realize its apparent potential.

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