People remember 20% of what they read, 50% of what they hear, and 80% of what they see. So, why communicate with the target audience via messages or boring texts when you can create a video at no cost and with no time for your content? Artificial intelligence is doing wonders now and then with its new applications in different niches. We were leveraging the features of Chat GPT by getting the information in no time. It has been a short time since we used those creative tools, and now we have another AI miracle in the form of video-generating platforms like Synthesia.
Millions of users are using these types of AI Video Generator applications for informative, entertainment, and learning purposes. So, the users and owners of these AI Video applications also leverage different types of monetary bases.
In this blog, we will learn all about how to build an AI app like Synthesia for video generation, the benefits of developing such an AI Video Generator application, how these apps can make money, and how much it will cost for you to develop a similar application.
AI Video Generator Market Size and Statistics
Large enterprises worldwide accounted for the largest market share of 64% in using the AI video generator app category. China is the leading country in AI tool usage, and Asia has been registered as the most dominant region in the global AI video generator market.
In a very short period, the market of AI video generator apps has grown significantly. According to Grand View Research, the AI video generator market was valued at $472.9 million in 2022, which is all set to show a CAGR of 19.7% between 2023-2030. The market will achieve a valuation of $2,172 million by the end of 2032, as stated by Market.us.
What is Synthesia App?
Synthesia is an Artificial Intelligence mobile application that allows users to create videos using the content and imparting the fictional characters and avatars in the video. Using machine learning capabilities, apps like Synthesia can make a creative video within minutes without any video editing knowledge or coding skills.
Synthesia even carries a lot of pre-AI templates that help to make your video even more attractive and informative to the users. All a user has to do is put the content in the script box of the app, choose the right template, and take a rest. Synthesia will give out the video that you need. This tool can make informative, promotional, educational, entertainment, and communicative video files.
Why AI Video Generator Apps like Synthesia are so popular?
There are many reasons for these quick video generator apps like Synthesia being so popular. Let’s have a glance over the core competencies of these mobile apps to understand the reasons behind their popularity-
- The efficiency of these applications is the foremost reason which makes them so popular among the audience. It takes just a few minutes for the users to get a live video of their content without additional effort or knowledge.
- Apps like Synthesia are very cost-effective and demand little or no financial charges to produce creative and distinguished videos for the users.
- Videos have a higher engagement rate than written content when it comes to sharing a piece of information with the target audience. So, businesses or any user can get better customer responses using the videos.
- The customization option in the themes, script, voice, background, face, and more helps the users to create intuitive videos according to the nature and taste of its target audience.
- The hassle of narration, video editing, background, and studio is eliminated with apps like Synthesia, making it significantly easier for people to enter the new landscape.
Factors Affecting the Growth of the AI Video Generator Industry
Just like every other industry and niche, some factors determine the growth of the AI video generator industry. Some of the main factors that contribute to the success and growth of the AI video generator industry are-
- Increase in the demand for video content.
With the emergence of video-sharing platforms like YouTube, TikTok, Instagram, Facebook, and more, the demand for video content has also increased significantly. Businesses and individuals are looking for platforms where they can create video content to connect to their users using those platforms.
- Advancements in AI technology
The continuous betterment in artificial technology and machine learning, along with the easy access of these technologies to people, has also contributed toward the growth of these video-generating platforms. People have smartphones that can support these technologies to give favorable outcomes.
- Growing availability of training data
Training data is the fuel to artificial intelligence applications as it requires a huge amount of data to show accuracy and enhance performance. The digital media platforms that carry the information of billions of internet users have given a sharp boost to video-generating apps like Synthesia.
- Customization and personalization
As we interpreted in the above section, AI video-generating apps can create customized videos designed for specific target audiences and individual preferences. The customization and personalization option given in these applications assist the brand and users to engage with their target audience more effectively.
- Cost saving
These AI-based video-generating mobile apps are free or require minimal charges. When compared to its usability and benefits, these charges are negligible. Being the cost-effective solution, the users can save a lot of investment by not buying video editing tools, a studio, and a narrator.
Why Investing in AI Video Generator App Development is Beneficial?
Investment is something that brings your money back in its multiple. Whether you build an AI app like Synthesia for your brand or create an app like Synthesia for the users, both models will provide a good return on investment. We have witnessed in the above section that the AI video-generating mobile application market will only shed an upward curve in the upcoming decade. Different factors are going to contribute to the growth of these platforms. The increasing number of users and use cases of such applications will undoubtedly benefit those who invest in this concept at the right time. To develop Ai video generator you can check the best OTT app development companies.
First, talk about the app model where you can invite users worldwide to use your app and make videos for your content. As long as your application provides good features and functionalities that users can leverage to make their content more appealing and creative, your application can attract a user base of millions. Having attracted many users to your platform, you can integrate a range of monetization models into your app, which will bring significant earnings to your pocket, most of which will not require any effort from your side.
Similarly, talking about another model in which you build an app like Synthesia dedicatedly for your existing brand or business. In today’s era, where competition surpasses everything, strong customer relationships can deliver competitive advantages like nothing else. So, you can use this application to connect to your target audience and respective stakeholders. Via these AI-generated videos, you can share your growth and insights about your products or services, make new announcements, convey the terms and conditions, communicate with your customers, and much more. By enhancing the user experience with video content, you can experience a sharp spike in the growth of your brand as compared to your competitors.
Top Competitors for Ai Video Generator App Synthesia
AI video-generating market is very broad; thus, Synthesia and many other names are ruling the market. Here are the top competitors of Synthesia and other leading apps in the AI video-generating app market-
- Video Maker
It doesn’t matter if you know about editing; when using Video Maker, it becomes very easy for you to produce high-quality videos. All you need to do is provide the short script and text to the application; its machine-learning algorithm will bring out the best video output for your script. Converting the blog into a video takes just a few clicks.
- Platforms- Android, iOS
- Downloads- 50M+
- Ratings- 4.8/5
- Filmora
Incepted and popularized as a video editing tool, Filmora has synced its steps with technology to provide AI video-generating features to its users. This application can make the whole video using artificial intelligence by taking the text inputs as commands. Unlike other apps in this category, Filmora is a great tool with features like video editing, an extensive media library, and many video templates.
- Platforms- Android, iOS
- Downloads- 50M+
- Ratings- 4.6/5
- HeyGen
HeyGen is a well-known name in the AI-video-generating app market that can convert your texts or scripts into a live video in just a few minutes. Moreover, the core competency of this application is that you choose from 300+ different choices and 40+ different languages. At the same time, you can even create or customize the avatar you want to show in your video.
- Platforms- Android, iOS
- Downloads- 100K+
- Ratings- 3.0/5
Also Read – Top Artificial Intelligence Development Companies
- Renderforest
Renderforest is another similar app to Synthesis that allows users to convert text into video and speech. Renderforest is used for the business or private user where the purpose is to spread the information or announce anything. The application assists in making a creative presentation, encourages video editing, and enables content creation.
- Platforms- Android, iOS
- Downloads- 1M+
- Ratings- 4.2/5
- Yepic AI
While this software is slightly more expensive than the other option, it is a great tool if you are looking for a platform to turn text into voice or videos. The platform helps to elevate sales, training, and marketing by crafting personalized videos in over 110 languages. The top features of Yepic AI include photo animation, lifelike avatars, 480+ videos, and the ability to customize avatars.
- Platforms- Android, iOS
- Downloads- 50M+
- Ratings- 4.8/5
How Ai Video Generator App Makes Money?
Like any other software or application, various monetization models can be integrated into video-generating apps like Synthesia. While the way of bringing the earnings in all these models differs, the ultimate goal of getting a return on investment can be achieved via all of these. Here are the most used and popular monetization models that are integrated into these kinds of platforms-
| Monetization Model | Description |
| Subscription plan | As the name suggests, this monetization model charges a certain fee whenever a user wants to make a video. This flexible price structure also affects the video quality, duration, and features. A diverse user base can benefit from this model. |
| Transactional or pay-per-use model | When the video owner invites third-party businesses and brands to showcase the advertisement of their products or services on the app, it is called an advertisement model. The app owner can make a good earning with a model if the application is home to a good and frequent user base. |
| Enterprise plan | If a person wants to use the app most frequently for business needs, the enterprise plan pricing model helps them to create the video in bulk by paying the charges in one go. Other features like white labeling, team collaboration tools, dedicated customer services, etc. are also provided in this plan. |
| In-app purchase | This monetization strategy makes the basic features of video making and choosing avatars available for everyone while charging certain fees for premium features. For example, access to video templates, effects, music, customized options, higher video quality, and faster processing can be offered at particular prices. |
| Advertisement model | When the video owner invites third-party businesses and brands to showcase the advertisement of their products or services on the app, it is called an advertisement model. The app owner can make a good earning with a model as long as the application is home to a good and frequent user base. |
How do you develop a video generator app like Synthesia?
Here are the core steps to build an AI app like Synthesia-
- Conceptualizing the Application Idea
The first and foremost need is to understand your idea clearly. As we have interpreted in the above section, various AI video-generating apps have their respective functionalities and features. So, you need to have a clear vision of the application, the problem it will solve, the target audience, and much more. At the same time, you should focus on your unique selling proposition to achieve competitive advantages in the market.
- Market research
Market research comes second, where you learn about the existing leaders and competitors in the market. Market research helps you find out the user behavior, their expectation, your competitors’ target audience, the market’s potential, and much more. A thorough market research will help you make better decisions around your project to build an AI app like Synthesia.
- Craft an intuitive user interface.
Your project arrived at the core development phase after hiring a proficient AI app development team. First of all, the intuitive user interface of your application will be created, which will welcome your users to the application. Make sure that you place all the necessary features on the front page only, making it easier for the users to access the different functionalities.
- Coding
Here comes the front-end and back-end development of the application, where the development team uses the respective programming languages, frameworks, integrations, APIs, gateways, and third-party support to impart all the features and functionalities into the application. This is one of the most important phases of creating an app like Synthesia.
Also Read – Top Artificial Intelligence Facts and Statistics
- Testing
As the name suggests, this is the step where the developed application undergoes different types of tests to ensure that only the best version of the application is delivered to the target audience. Tests like performance testing, speed testing, feature testing, and the bug removal process are carried out in this phase.
- Deployment
This step brings the software or the application to the target audience. Once the testing of the application is completed, it is then deployed to the respective app market (Apple App Store and Google Play Store). It ensures that the software complies with all the regulations and rules of their respective deployment market.
- Maintenance and Support
Now comes the time for maintenance, as every technological product needs constant technical support. The team is kept alert to ensure that any bug discovered with time is solved at the earliest so that it doesn’t impact the user experience. At the same time, constant updates to the software are also provided.
Top features to develop AI video generator apps like Synthesia
Features are the core determining factor for any application’s success and efficient performance. Adding the different features will add dollars to your bill. However, compromising the number and types of features is never a good idea. Here are the main features you must impart while developing your AI-video generator app.
| Features | Description |
| Customized AI Avatars | AI avatars are one of the core components of an AI-based video. So, your application must carry the features that enable the users to customize the avatar according to their preferences along with multiple options that they can choose from to prepare the video. Here, you can provide the avatar based on ethnicities, ages, styles, genders, etc. |
| Text-to-speech | This is another basic feature of AI-based video-generating platforms that enables the users to input the different types of texts in the application and get the voiceover in a few minutes. This feature is solely based on the Natural Language Processing capability of the application. |
| Multi-lingual feature | If you want to target an international audience with your application, you need to have a multilingual feature that helps the users to generate content in different languages. At the same time, this feature will also attract users who want to share their contact with the international audience. |
| Voice cloning | Voice cloning is the feature that helps to impart the customized voice in the video. This voice can belong to the real user, any popular personality, or any human the user prefers. They have to provide a voice sample to the application to produce the video in that voice. |
| Gestures | Gestures like facial expressions, hand motions, body language, etc. can also bring the audience from other platforms to your application. This feature helps to generate videos that can better connect to the target audience. |
| Script editing tools | Integrating functionalities like Grammarly, spelling check, word count, voice and video length, etc. also makes your video-generating tool even more useful for the target audience. One can have more control over their content with these features, which ultimately encourage the use of your application by the users. |
| Export and sharing feature | The export and sharing feature of the application that helps the users to share their content with the target audience via different platforms is also a great option for your application. |
| Analytics and insights | This feature provides the performance metrics, insight into the videos, engagement statistics, demographics of the viewers, and suggestions to improve the content to the user. |
Worth Reading: How to Develop Artificial Intelligence (AI) Personal Assistant?
What tech stack is required to create an AI Video Generator App like Synthesia?
The technology stack is the suite of different integrated technologies and frameworks to develop a well-performing and functioning mobile app or any software. So, you must make the right choice while selecting the technologies to ensure your application performs and achieves quality standards. Here is the technology stack that can help to create apps like Synthesia-
| Frontend Technologies | HTML, CSS, and JavaScript |
| Backend Technologies | Node.js, Express.js, MongoDB |
| AI Programming Languages | Python, Lisp, Java, JavaScript, Rust, C++, and R |
| Cloud Infrastructure | Amazon Web Services, Microsoft Azure, Google Cloud Services, Amazon’s Elastic Compute Cloud, Amazon Simple Storage Service, Amazon CloudFront |
| Video Technologies | FFmpeg, Web RTC |
| Payment Gateways | Stripe, Amazon Pay, Paypal, etc. |
How much does developing an AI video generator app like Synthesia cost to develop?
The cost of an AI video-generating app development platform like Synthesia depends on various factors and thus can never be tied to a fixed figure. However, the estimated cost of developing such software starts from $50,000 and goes up to $500,000. Still, these figures are mere estimations, and we need to understand the different components, which can give us a better idea about the cost of application development. The factors are-
Complexity level of the project
The complexity of your software is one of the biggest and core determinants of your AI video generator app. Developing a straightforward application can save you a good dollar in your project while choosing complex software with advanced features will add the dollars to your overall bill.
Technology stack
As we stated in the above section, the technology stack says a lot about your application’s functionalities and the cost. Different programming languages, frameworks, and tools will increase the cost of your software development if integrated into the project.
Data collection
AI and Machine Learning software are all about the quantity and quality of data. It incurs a certain cost for training the models and annotating a sizable dataset. Getting the data in quality and quantity will cost you huge dollars.
Location of the development team
While Asian countries like India can develop the software at a fraction of the cost, the cost can multiply if working with developers from the USA, UK, or Australia. So, the location of your development team also says a lot about the overall cost.
Number and types of features
Different features can enhance the user experience on your platform. However, this decision will also add dollars to your app development cost. So, choosing the features wisely when developing an AI-based video-generating application is important.
Maintenance and Support
An application like Synthesia requires continuous maintenance and support to keep functioning efficiently. For the same, you need support from an IT team that can address the errors and bugs of your application as well as provide the necessary updates to your application. This support is also paid which is added to your development cost.
How Octal IT Solution can help you Build an AI video generator app like Synthesia?
You can get a fair idea about the investment of your time and money that is required AI app like Synthesia. Thus, it is important to partner with a proficient software development company that can deliver the worth of your investment. Octal IT Solution has provided software development services for over 15 years and has worked on various AI projects.
We have a team of 250+ expert staff and developers carrying expertise in different areas of specialization that help the client build and deploy competitive software with advanced features and functionalities.
Our long development journey has delivered over 1500 projects with 700+ happy clients. We have explored a range of challenges in the development process along with the associated solutions to it. At the same time, we are experts at saving costs for our clients without compromising the features and functionalities.
Conclusion
With the increasing need for interactions in businesses and the entertainment industry, AI-based video generator apps like Synthesia have experienced a boom. Build an AI app like Synthesia is a good idea from the user’s perspective and a great investment idea for the owners. Different monetization models associated with this software bring the owner a good return on investment without any big hassle. So, Octal IT Solution invites you with your idea of AI video app development and turns it into a real-life digital project.
