Voice Cloning Market is forecast to reach USD 3.10 Billion by 2026 | Top Key Players IBM Corporation, Microsoft Corporation, Google, iSpeech, Cepstral

The Global Voice Cloning Market is forecast to reach USD 3.10 Billion by 2026, according to a new report by Reports and Data. The artificial intelligence technology of voice cloning is the essential computer technology used for Chatbots & Assistants, Accessibility, Digital Games, and Interactive learning. Growing demand for new voice technology in telecommunication, banking, BFSI, media and entertainment, education, defense, and energy and utility sectors among others will not only enhance the market growth but will take voice cloning business to new scalable paramount with the growth curve of the voice cloning market touching highest peak of growth.

This report covers the recent COVID-19 incidence and its impact on Voice Cloning Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

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Key participants IBM Corporation, Microsoft Corporation, Google, iSpeech, Cepstral, CereProc, Nuance Communication Inc., Baidu, AT&T, and NeoSpeech.

The favorable circumstances in the Voice Cloning Market lie with the need for Internet of Things (IoT) and connected devices. The rising applications in energy & utilities, government, defense, education, industry verticals are boosting the market of such technology. Rapid escalation in the adoption of AI infrastructure in voice cloning and integration of AI technologies in voice cloning solutions are anticipated to provide lucrative opportunities for growth. The lack of subsidies & high initial investment and lack of appropriateness of AI-Enabled Voice Cloning assessment processes is acting as a market restraint.

For the purpose of this report, Reports and Data have segmented into the global Voice Cloning Market on the basis of Component, deployment type, application, End-Users, and region:

Deployment Type Outlook (Revenue, USD Billion; 2016-2026)

• On-Premises Deployment
• Cloud-Based Deployment

Application Outlook (Revenue, USD Billion; 2016-2026)

• Chatbots & Assistants
• Digital Games
• Accessibility
• Interactive learning
• Others

End-Users Outlook (Revenue, USD Billion; 2016-2026)

• BFSI
• Media and Entertainment
• Healthcare
• Education
• IT and Telecom
• Retail
• Others

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Component Vertical Outlook (Revenue, USD Billion; 2016-2026)

• Solutions
• Services

Regional Outlook (Revenue, USD Billion; 2016-2026)

• North America
• Europe
• Asia Pacific
• MEA
• Latin America

Further key findings from the report suggest

• BFSI industry vertical held the largest market share of 20.8% in the year 2018. The current trend of digitalization and the Voice-Enabled ATM are booming the market of speech cloning technology.

• Solution Component is forecasted to witness the highest CAGR of 25.8% during the forecast period. China became the largest consumer of this segment, as this technology helps software tools to integrate the cloned voices into multiple applications.

• The Chatbots & Assistants segment is forecasted to witness the highest CAGR of 26.2% during the forecast period. This segment is rising since the demand for games and simulations that make the conversations sound more natural and personalized.

• Europe is expected to witness the highest CAGR of 27.9% during the forecast period. Countries like Germany, United Kingdom, France, and Poland are rapidly catching up with the growth in the Digital Games, Interactive Learning, and Chatbots and Assistants application. The countries in this region have a high demand for technological system, which is propelling the market growth.

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Key selling points of this research study

1. The study gives an in-depth evaluation of the evolving competitive scenario that gives the reader/client a competitive edge.

2. It offers a holistic view of all critical aspects boosting or limiting the growth of the sector

3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.

4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.

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