According to Market Statsville Group (MSG), the global AI writing assistance software market was valued at USD 389.1 Million in 2021 and is projected to reach USD 1,444.3 Million by 2030, with growth at a CAGR of 18.4% over the forecast period (2022-2030).
The growth of the AI writing assistants market is associated with high usage in various applications such as education and 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 misspellings and plagiarism, and improving writing skills. Unlike other software, it’s fully integrated with Microsoft Word so you can use your familiar writing tools. And unlike an editor built into your word processor, this tool uses its own AI algorithm to generate higher quality content than a human could achieve.
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The increasing adoption of various strategies such as mergers and acquisitions, agreements, partnerships, and product launches among market players to establish themselves as AI writing assistant software vendors are expected to create opportunities lucrative in the AI writing assistant software market. The growing adoption of various strategies by market players to increase their presence and market share is also expected to create growth opportunities in the global AI writing assistant software market.
Global AI Writing Assistant Software Market Dynamics
Drivers: growing demand for AI technology in writing
The demand for artificial intelligence technology in writing is increasing worldwide. It can be used to write short, easy-to-read content. AI increases productivity by generating content quickly. This saves time as AI-created content takes minutes to form. Businesses use AI writing to ensure quality content, which keeps their audience engaged. These programs make it easier for professionals to write blog posts because they can easily change words and correct grammatical errors. It helps generate quick content that takes minutes to create and saves time.
Drivers: Growing Adoption of AI Writer Assistant in Cybersecurity
AI Writing Assistant uses machine learning to help and support users through multiple stages of writing, including research, tone checking, and algorithms. These tools help analyze the content. AI can detect suspicious activities and viruses such as malware, ransomware and Trojans through its structured program and algorithm. An AI writing assistant can quickly process large amounts of data, enabling security analysts to protect their organization against cyberattacks. Thus, the growing adoption of AI writing assistants in cybersecurity is expected to fuel the market over the forecast period.
Constraints: High cost of AI writer assistant software subscription
The use of AI writing assistants is increasing in the writing industry. However, this technology cannot be adopted by all organizations due to its high cost and maintenance. Thus, the demand for AI writing assistants can be equal to the number of consumers in the market and is expected to hamper the market over the forecast period. AI software requires frequent updates, so it meets the needs of a developing environment. This is because these machines are getting smarter day by day which is expensive and could hinder the growth of the market.
Opportunities: Growing investments to improve software performance
Rising investment by major market players to make quick decisions, optimize results, and reduce operational costs is driving the adoption of AI. Whereas, this is expected to drive the AI writing assistant software market. AI can change everything in the organization and refine the way people work. Therefore, it is imperative to take control of the micro and macro levels of an organization or business. The growing use of AI by many organizations and growing demand for AI writing support software is expected to create opportunities in the market.
Impact of COVID-19 on the Global AI Writing Assistant Software Market
COVID-19 has had a positive impact on the AI writing software market due to its growing demand in various applications such as email, chatbots and/or other messaging applications. AI writing assistant software is increasingly used by small and medium-sized businesses. Growing investments by manufacturers in the development of AI are driving the market.
Scope of the global AI writing assistant software market
The AI writing support software market is segmented into on-premises and cloud-based. The market is expected to generate substantial revenue from data extraction, transformation, and loading (ETL) software and bespoke artificial intelligence (AI) agents. The on-premises AI writer assistant software allows users to access knowledge more securely and less expensively than their counterparts in the cloud-based segment. Additionally, this software provides enhanced security features providing a secure platform for all data input and output. AI writing assistant software helps businesses of all sizes improve productivity by automating tedious tasks such as typing, generating reports, or delivering a slew of emails by linking them to digital assistants. The study categorizes the AI Writing Assistance Software market based on type and end-users regionally and globally.
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By Outlook Type (Sales, USD Million, 2017-2030)
On the site
By End-User Insights (Sales, USD Million, 2017-2030)
Outlook by Region (Sales, USD Million, 2017-2030)
The rest of Europe
Australia and New Zealand
Rest of Asia-Pacific
Rest of South America
The Middle East and Africa
United Arab Emirates
Rest of MEA
Semi-solid formulations segment accounts for largest market share by product
Based on end users, the global market is bifurcated into personal, commercial, and others. During the forecast period, the commercial segment is expected to hold a substantial market share owing 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 to promote their business for research and marketing purposes. The strong growth in the commercial segment is attributed to technological advancements that provide a professional and error-free writing experience.
North America accounted for the largest market share by region
On the basis of regions, the market is divided into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. Europe is expected to hold a substantial market share over the forecast period owing to the increasing investment of European countries in AI technology. Rising demand for AI writing support software among consumers and favorable government policies to promote AI technology are driving the European market.
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Key Market Players in Global AI Writing Assistant Software Market
The global AI writing assistance software market is highly competitive with major industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most of the companies in the market are focused on expanding operations in all regions, increasing their capabilities, and building strong partnership relationships.
Key Players of Global AI Writing Assistant Software Market are:
Anyword (Keywee Inc.)
ProWritingAid (Orpheus technology)
Pepper Content Pvt. ltd
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Market Statsville Group (MSG) partners with businesses and society to confront their critical risks and challenges in order to seize the enormous opportunities that lie before them. MSG began its work in 2017, and since then the brand has evolved to become a pioneer in business consulting and market research services.
This press release was published on openPR.