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Voice Cloning Market Growth, Trends Analysis And Forecast To 2033
Voice Cloning Market Growth
As per the report, the voice cloning market size has grown exponentially in recent years. It will grow from $1.24 billion in 2023 to $1.58 billion in 2024 at a compound annual growth rate (CAGR) of 27.8%. The voice cloning market size is expected to see exponential growth in the next few years. It will grow to $4.16 billion in 2028 at a compound annual growth rate (CAGR) of 27.2%.
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The Rising Adoption of AI Technology Drives Growth in the Voice Cloning Market
The increasing adoption of AI technology is expected to propel the growth of the voice cloning market going forward. Artificial intelligence (AI) describes the process of creating computer programmes or systems that are capable of carrying out tasks that normally call for human intelligence. Voice cloning uses AI to reproduce a person's voice, as well as training algorithms on massive datasets of speech samples to understand the patterns and subtleties of human speech, such as intonation, pitch, rhythm, and accent. For instance, in May 2022, according to a report published by International Business Machines Corporation (IBM), a US-based technology corporation, the adoption rate of AI globally increased by 35%, up four points from the previous year. Further, in 2022, around 13% of firms are projected to have used AI than in 2021, around 35% of organizations reported adopting AI in their company, 42% are considering AI for adoption, and two-thirds of the companies (66%) are either presently executing or intending to utilize AI to meet their sustainability goals. Therefore, the increasing adoption of AI technology is driving the growth of the AI-based clinical trial solution provider market.
Advancements in AI Voice Cloning Transforming Industries with Audiobox AI
Major companies operating in the 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.
The voice cloning market covered in this report is segmented -
1) By Component : Solution, Service
2) By Deployment Mode: On-Premise, Cloud
3) By Application: Digital Games, Accessibility, Chatbots And Assistants, Interactive Games, Other Applications
4) By Industry Vertical: Banking Financial Services, and Insurance (BFSI), Information technology (IT) and telecommunications , Education, Media And Entertainment, Healthcare, Travel And Hospitality, Other Industry Verticals
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Major companies operating in the voice cloning market report are Google LLC, AT&T, Amazon Web Services (AWS), Microsoft Corporation, International Business Machines Corporation, exClone, Baidu Inc, Nuance Communications, Aristech, NeoSpeech, Acapela Group, Smartbox Assistive Technology, Resemble AI, Respeecher, Lyrebird, LumenVox, VocaliD, Kata.Ai, Alt.Ai, CereProc, Voicery, Cepstral, Ispeech, VivoText, Voctro Labs, rSpeak, CandyVoice
Contents of the report:
1. Executive Summary
2. Voice Cloning Market Report Structure
3. Voice Cloning Market Trends And Strategies
4. Voice Cloning Market - Macro Economic Scenario
5. Voice Cloning Market Size And Growth
…..
27. 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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