Global AI Writing Assistant Software Market Size By Type (On-Premise and Cloud based), By End Users (Individual, Commercial), By Geographic Scope And Forecast
Published on: 2024-08-06 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global AI Writing Assistant Software Market Size By Type (On-Premise and Cloud based), By End Users (Individual, Commercial), By Geographic Scope And Forecast
AI Writing Assistant Software Market Size And Forecast
AI Writing Assistant Software Market size was valued at USD 421.41 Million in 2024 and is projected to reach USD 2420.32 Million by 2031, growing at a CAGR of 26.94% from 2024 to 2031.
The factors that drive the growth of the AI Writing Assistant Software market are ease of use, time-saving, and less human effort. The Global AI Writing Assistant Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global AI Writing Assistant Software Market Definition
Artificial intelligence (AI) has transformed how humans interact with technology. As a writing assistant, AI is one of the most beneficial applications. The AI Writing Assistant programme is an artificial intelligence-enabled tool that can produce text and distribute it on multiple social media networks automatically. The AI Writing Assistant programme is intended to help with writing duties. They may be integrated into a variety of applications, including email, chatbots, and/or other sorts of messaging apps (e.g., slack). Some AI-powered solutions include grammar checkers that fix spelling errors or propose better phrasing; others follow a user’s writing progress and make ideas as they go.
AI writing Assistance Software makes use of artificial intelligence to help in writing. AI writing assistants are available with a wide range of features and are commonly used in research, grammar, tone checking, and localization. Some are bots that make advice or correct grammar in the submitted article, while others are writing platforms where users may compose the full piece. Natural language processing (NLP) is used by the programme to analyse the text and deliver real-time suggestions.
Global AI Writing Assistant Software Market Overview
The nuances in the overall ai writing assistant software market have driven it to a wide extent. Also, increasing divisional tools in ai writing and accelerating ai maximalists and ai curators have driven the market. However, corresponding issues with ai writing assistant software have created significant restraints in the overall market. Moreover, Focused advancements in precise areas have shown new lines of opportunities to the ai writing assistant software market. Additionally, the growing use of ai writing tools has shown pathways in the augmentation of ai/human integration has shown opportunities in the market.
Avoid the problem of writer’s blockWriter’s block is one of the most common problems that all writers have to deal with. It can be extremely frustrating and can destroy productivity and slow down the entire work. If someone suffers from writer’s block, then it might be a good idea to use the AI writing tool. These tools are really good for writing. And they can help one overcome their writer’s block issues. So they don’t have to worry about writer’s block anymore.
Just enter the details of what exactly one needs to write about and the tone of voice and the AI Writer will take care of the rest.
Get Quality Content FasterIf one is a busy blogger, then one would probably be looking for ways to save time. AI writing assistant tools can help one create quality content very quickly and make the writing process easier to save time. It used to take writers more than 5-6 days to complete a 4000+ word blog post, but now it can be created in just 3-4 hours using.
Global AI Writing Assistant Software MarketSegmentation Analysis
AI Writing Assistant Software Market is segmented based on Type, End Users, and Geography.
AI Writing Assistant Software Market, By Type
• On-premise• Cloud-based
Cloud accounted for the largest market share of 78.79% in 2022, with a market value of USD 780.99 Million and is projected to grow at the highest CAGR of 29.08% during the forecast period. On-premise was the second-largest market in 2022, valued at USD 210.27 Million in 2022; it is projected to grow at a CAGR of 14.97%.
AI Writing Assistant Software Market, By End User
• Individual• Commercial• Others
Based on end-users, the market is segmented into individual, commercial, and others. The commercial segment is expected to grow at a significant pace during the forecast period, owing to the increasing use of AI writing assistant software by small, medium-sized, and large businesses for market research and business promotion.
AI Writing Assistant Software Market, By Geography
• North America• Europe• Asia Pacific• Rest of the world
North America accounted for the largest market share of 34.30% in 2022, with a market value of USD 333.99 Million and is projected to grow at a CAGR of 27.11% during the forecast period. Europe was the second-largest market in 2022, valued at USD 296.76 Million in 2022; it is projected to grow at the highest CAGR of 26.18%.
Key Players
The Global AI Writing Assistant Software Market is highly fragmented with the presence of a major number of players in the market. Some of the major companies include Grammarly Inc., Ginger Software, AI Writer, Frase Inc, Jasper AI INC., Keywee Inc. (Anyword), ProWritingAid (Orpheus Technology), Smodin LLC, Semrush, WordAi, Rytr, QuillBot (Course Hero), LLC., and InstaText.
Key Developments
• In October 2022, Grammarly, a leader in AI-powered communication assistance, introduced the industry’s first technology that identifies and rewrites sentences to achieve a desired tone—all with the click of a button.
• In November 2021, Grammarly, the popular writing auto-editing tool, raised USD 200 million in funding at a USD 13 billion valuation from new investors including Baillie Gifford and BlackRock funds and accounts, among others. The investment will be used to accelerate product innovation and team growth.
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
STUDY PERIOD | 2021-2031 |
BASE YEAR | 2024 |
FORECAST PERIOD | 2024-2031 |
HISTORICAL PERIOD | 2021-2023 |
UNIT | Value (USD Million) |
KEY COMPANIES PROFILED | Grammarly Inc., Ginger Software, AI Writer, Frase Inc, Jasper AI INC., Keywee Inc. (Anyword), ProWritingAid (Orpheus Technology), Smodin LLC, Semrush, & Others |
SEGMENTS COVERED | By Type, By End Users, and By Geography. |
CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the industry/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/Industry launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, Industry benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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