The global AI writing assistant software market was valued at USD 359.8 million in 2020 and is projected to reach USD 1,022.3 million by 2028, expanding at a CAGR of 14.2% during the forecast period. The growth in the AI writing assistant market is associated with the high usage in various applications such as educational & training institutions, government sectors, and publishers. AI writing assistant software is a program that uses AI technology to perform tasks such as writing creative content, checking for spelling mistakes and plagiarism, and improving writing skill. Global AI writing assistant software market is segmented into types, end-users, and regions.
Increasing number of strategies such as mergers & acquisitions, agreements, partnerships, and product launches among companies to establish themselves as providers of AI writing assistant software are anticipated to create lucrative opportunities in the market in the near future. Rising adoption of various strategies by market players to increase their presence and share in the market is expected to create growth opportunities in the market.
AI Writing Assistant Software Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
By Types (On-premise and Cloud-based), By End-users (Individual, Commercial, Others), and By Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered
Grammarly Inc, Ginger Software, Textio, AI Writer, Frase, Inc, Jasper.ai, Anyword (Keywee Inc.), ProWritingAid (Orpheus Technology), Semrush, and Pepper Content Pvt. Ltd.
Technological advancement in AI involves speech recognition, machine learning, deep learning platforms, and natural language generation. These tools and technologies are mostly adopted by content writing industries to get their work done in short time and accurately. The development of technology and use of AI writers to obtain efficient quantity and quality for high performance are boosting the market.
COVID-19 has reflected a positive impact on the AI writing assistant software market, due to its growing demand in various applications such as email, chatbots, and/or other types of messaging applications (such as, Slack). The AI writing assistant software is increasingly being used among small- and medium-sized enterprises. Increasing investments by manufacturers toward the development of AI is driving the market. Growing demand for automation in various sectors such as educational and training institutions, to reduce manual typing is expected to increase the demand for AI writing assistant software at a rapid pace during the forecast period.
Artificial intelligence (AI) writing improves and makes the content flow better. It can be used for changing the words and to fix grammatical mistakes. It makes content brief and easy to read. AI increases productivity by generating quick content, it saves time as AI-created content takes minutes to form. Rising demand for AI writing across the globe is anticipated to fuel the market.
AI writing assistant makes use of machine learning to help and support users through multiple steps of writing process that includes research, tone checking, and algorithms. These tools help in analyzing the content. Suspicious activities and viruses such as malware, ransomware, and trojan can be detect by AI using its structured program and algorithm. AI writing assistant has the ability to process large amount of data with high speed, which in turn, helps security analyst to protect their organization by cyberattacks. Thus, rising adoption of AI writing assistant in cyber security is projected to fuel the market during the forecast period.
The use of AI writing assistant is increasing in the writing industry. However, this technology cannot be adopted by all organization owing to its high cost and maintenance. Thus, the demand for AI writing assistants can be equal to limit consumers in the market and is projected to hamper the market during the forecast period. AI software requires frequent upgrades.; therefore, it could serve the requirements of the developing environment as these machines need to become smart by the day, and this requires high cost and could hinders the market growth.
Rising investments by major market players to make fast pace decisions, optimizing results, and to reduce the operational costs is boosting the adoption of AI. This, in turn, is projected to fuel the AI writing assistant software market. AI has the ability to change everything in the organization and refines people’s way of working, it is important to gain control over the micro and macro levels of an organization or business. Growing usage of AI by many organizations and rising demand for AI writing assistant software are projected to create opportunities in the market.
In terms of types, the market is segmented into on-premise and cloud-based. The cloud-based segment is expected to hold a substantial market share during the forecast, due to the growing investment in cloud-based projects in various countries such as US, UK, China, India, etc. The cloud-based AI assistant software keeps messages professional and free from errors by ensuring consistency across the team network. The cloud-based AI writing assistant software helps in saving the capital expenses of users by incurring costs based on customer’s usage. Moreover, the cloud-based AI writing assistant software updates data backup regularly and services improve continuously.
Based on end-users, the market is segregated into individual, commercial, and others. The commercial segment is expected to hold a substantial market share during the forecast, attributed to the growing adoption of AI writing assistant software by small, medium, and large enterprises. Small, medium, and large organizations use AI writing assistant software for research and marketing purposes to promote their business. High growth in the commercial segment is attributed to the technological upgradation that allows error-free and professional writing experience to the users.
On the basis of regions, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe expected to hold a substantial market share during the forecast period, owing to the growing strategic investment in AI technology by the European countries. Increasing demand for AI writing assistant software among consumers and favorable policies imposed by government for promoting AI technology is boosting the market in Europe.
Key Segments Covered
Key Segments Covered
Some frequently asked quetions about this report!
Additional company profiles can be provided on request
According to this Growth Market Reports report, the global AI writing assistant software market was valued at USD 359.8 million in 2020 and is projected to reach USD 1,022.3 million by 2028, expanding at a CAGR of 14.2% during the forecast period.
In addition to market size (in US$ Million), Company Market Share (in % for base year 2020), impact of key regulations and technological landscape.
Growing demand for AI technology in writing, rising digitalization across intelligence technology in writing, rising adoption of AI writing assistant in cyber security, growing investments to leverage the AI technology are the factors expected to drive the market growth during forecast period.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to increase in 2019 and 2020 owing to the COVID 19 pandemic is positively impact on the global AI Writing Assistant Software market.
Individuals, commercials, and others sectors are the major end-users of the AI Writing Assistant Software.
The base year considered for the global AI Writing Assistant Software market report is 2020. The complete analysis period is 2018 to 2028, wherein, 2018, and 2019 are the historic years, and the forecast is provided from 2021 to 2028.
Factors such as impact on labor, GDP, technological innovations, digitalization, government regulations, and investments are analyzed in the final report.
Major players include, Grammarly Inc, Ginger Software, Textio, AI Writer, Frase, Inc, Jasper.ai, Anyword (Keywee Inc.), ProWritingAid (Orpheus Technology), Semrush, Pepper Content Pvt. Ltd, and others.
Some other reports from this category!