Press release
AI Voice Cloning Market 2024: Size, Growth, Share, Trends, Competitive Landscape, Forecast To 2033
AI Voice Cloning Market
AI Voice Cloning Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $6.25 billion In 2028 At A CAGR Of 24.0% :
The ai voice cloning market size has grown exponentially in recent years. It will grow from $2.13 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 24.2%. The growth in the historic period can be attributed to advancements in deep learning, increasing data availability, rising demand for virtual assistants, improved computational power, expanding application areas.
The ai voice cloning market size is expected to see exponential growth in the next few years. It will grow to $6.25 billion in 2028 at a compound annual growth rate (CAGR) of 24.0%. The growth in the forecast period can be attributed to growing demand for personalized content, integration in multimodal applications, expanding accessibility solutions, rapid growth in virtual events and entertainment, enhanced ethical and regulatory frameworks. Major trends in the forecast period include advancements in neural networks, multilingual and cross-dialect capabilities, enhanced real-time voice conversion, integration with virtual assistants and ai applications, rise of edge computing for voice processing.
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AI Voice Cloning Market Major Segments
The ai voice cloning market covered in this report is segmented -
1) By Component: Software, Service
2) By Deployment: On-Premises, Cloud
2) By Application: Gaming, Advertising, Assistive Technologies, Chatbots And Virtual Assistants, Audiobooks And Podcasting, Other Applications
3) By Industry Vertical: Media And Entertainment, Healthcare And Life Sciences, Education And E-Learning, Other Industry Verticals
Key Driver - Rising Demand For Remote Work Propels Growth In The AI Voice Cloning Market
The increasing demand for remote work is expected to propel the growth of the AI voice cloning market going forward. Remote work refers to a work arrangement in which employees do not need to be physically present at a specific location, such as a traditional office, to perform their job duties. AI voice cloning is used in remote work in several ways to enhance communication, including automated content generation, enhanced customer interactions, accessibility and inclusion, seamless communication, cost-effective voice solutions, collaboration, and efficiency. For instance, in June 2023, according to reports published by Forbes Media LLC, a US-based media company, 12.7% of full-time employees are expected to work from home, while 28.2% are planning to use a hybrid approach in 2023, and it is expected to reach 32.6 million people working remotely in the US by 2025. Therefore, increasing demand for remote work is driving the growth of the AI voice cloning market.
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Prominent Trend - Meta Platforms Inc. Launches Audiobox AI For Advanced Voice Cloning Solutions
Major companies operating in the AI voice cloning market are focusing on the development of AI advancements, such as Audiobox AI and voice cloning, to meet the growing demand for AI voice cloning solutions in various industries. Audiobox is an AI-powered voice and sound generator that allows users to create voices and sound effects using AI. For instance, in December 2023, Meta Platforms, Inc., a US-based technology company, launched a new AI voice cloning tool called Audiobox. Audiobox is an AI-powered voice and sound generator that allows users to create voices and sound effects using AI, type in text, and hear the AI speak it back to them in their own voice. Additionally, it offers a range of features that have garnered significant interest, such as voice verification, audio watermarks, research models, and interactive demos.
AI Voice Cloning Market Players
Major companies operating in the ai voice cloning market report are Google LLC, Microsoft Corporation, Amazon Web Services (AWS), IBM Corporation, Baidu Inc., iFlytek Co.Ltd., Nuance Communications Inc., OpenAI, AI21 Labs, Synthesys, Acapela Group, ReadSpeaker, Altos Labs, LumenVox LLC, Lovo.ai, Sonantic, WellSaid Labs, Modulate, Abalta Technologies, Descript, Simplified, Neospeech, Rhetorical Systems Ltd., VivoText Ltd., Sensory Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the AI voice cloning market in 2023. The regions covered in the ai voice cloning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. AI Voice Cloning Market Report Structure
3. AI Voice Cloning Market Trends And Strategies
4. AI Voice Cloning Market - Macro Economic Scenario
5. AI Voice Cloning Market Size And Growth
…..
27. AI Voice Cloning Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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