PUBLISHER: Orion Market Research | PRODUCT CODE: 1565760
PUBLISHER: Orion Market Research | PRODUCT CODE: 1565760
Global Artificial Intelligence (AI) Voice Cloning Market 2024-2031
Artificial Intelligence (AI) Voice Cloning Market Size, Share & Trends Analysis Report by Component (Software, and Service), by Deployment (On-premises, and Cloud), by Application (Chatbots and Assistants, Accessibility, Digital Games, Interactive Games, and Others) and by Vertical (Media & Entertainment, Healthcare and Life Sciences, Education and E-Learning, Telecommunications, and Others) Forecast Period (2024-2031)
Artificial intelligence (AI) voice cloning market is anticipated to grow at a CAGR of 26.1% during the forecast period (2024-2031). The AI voice cloning market is driven by advancements in machine learning and deep learning algorithms, the increasing demand for virtual assistants and chatbots, the rise of voice-enabled devices, and the need for personalized customer experiences. Businesses are leveraging AI-powered voice cloning to create engaging virtual assistants, while the entertainment and gaming industries are embracing AI voice cloning to enhance storytelling and user experience. However, the growing adoption of voice cloning requires strict adherence to regulations and ethical standards, as compliance with these standards is essential for the market's growth.
Market Dynamics
Growing Demand for Personalized Customer Experiences
The AI voice cloning market is gaining momentum owing to the growing demand for personalized customer experiences, particularly in the hospitality sector. Therefore, key players are introducing advanced features in AI voice cloning for the hospitality sector. For instance, in December 2023, Hi Auto introduced an AI voice-cloning feature, allowing Quick Service Restaurants to incorporate fully customized voice options into their drive-thru AI ordering technology. This feature records and captures the nuances of a person's voice, enhancing customer engagement and allowing for a more personalized ordering experience. Further, in December 2023, Meta launched a new AI voice cloning tool, Audiobox, as part of a proof-of-concept for audio generation models developed by Facebook AI Research. The tool can generate speech or sound effects from text prompts and clone existing voices.
Market Segmentation
- Based on components, the market is segmented into solutions, and services.
- Based on deployment, the market is segmented into cloud, and on-premises
- Based on applications, the market is segmented into chatbots and assistants, accessibility, digital games, interactive games, and others (announcement systems, text readers, and talking avatars).
- Based on vertical, the market is segmented into media & entertainment, healthcare and life sciences, education and e-learning, telecommunications, and others (marketing and advertising, and legal and compliance).
Education and E-Learning Sub-segment to Hold a Considerable Market Share
The demand for high-quality text-to-speech solutions is increasing owing to the need for realistic, personal assistants, and content creation is driving the growth of this market segment. To cater to this vertical, in September 2023, Writesonic launched Audiosonic, a new AI voice generation tool that enables users to convert text into human-like audio for various purposes. The tool streamlines AI text-to-speech (TTS) generation, aiding those with visual or reading disabilities, enhancing e-learning, and providing a cost-effective alternative for publishers in the entertainment industry.
Regional Outlook
The artificial intelligence (AI) voice cloning market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Market Players Outlook
Table of Contents
1. Report Summary
- Current Industry Analysis and Growth Potential Outlook
- 1.1. Research Deployment and Tools
- 1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Region
2. Market Overview and Insights
- 2.1. Scope of the Report
- 2.2. Analyst Insight & Current Market Trends
3. Competitive Landscape
4. Market Segmentation
5. Regional Analysis
6. Company Profiles
LIST OF TABLES
- 1. Global AI Voice Cloning Market Research And Analysis By Component, 2023-2031 ($ Million)
- 2. Global AI Voice Cloning Software Market Research And Analysis By Region, 2023-2031 ($ Million)
- 3. Global AI Voice Cloning Service Market Research And Analysis By Region, 2023-2031 ($ Million)
- 4. Global AI Voice Cloning Market Research And Analysis By Deployment 2023-2031 ($ Million)
- 5. Global On-Premises AI Voice Cloning Market Research And Analysis By Region, 2023-2031 ($ Million)
- 6. Global Cloud-Based AI Voice Cloning Market Research And Analysis By Region, 2023-2031 ($ Million)
- 7. Global AI Voice Cloning Market Research And Analysis By Application 2023-2031 ($ Million)
- 8. Global AI Voice Cloning In Chatbots And Assistants Market Research And Analysis By Region, 2023-2031 ($ Million)
- 9. Global AI Voice Cloning In Accessibility Market Research And Analysis By Region, 2023-2031 ($ Million)
- 10. Global AI Voice Cloning In Digital Games Market Research And Analysis By Region, 2023-2031 ($ Million)
- 11. Global AI Voice Cloning In Interactive Games Market Research And Analysis By Region, 2023-2031 ($ Million)
- 12. Global AI Voice Cloning In Other Application Market Research And Analysis By Region, 2023-2031 ($ Million)
LIST OF FIGURES
