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Artificial Intelligence (AI) Voice Generator Market Overview, Competitive Analysis, Key Trends And Outlook 2024 To 2033
Artificial Intelligence (AI) Voice Generator Market Overview
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According to The Business Research Company's, The artificial intelligence (AI) voice generator market size has grown rapidly in recent years. It will grow from $1.73 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to, increased demand for virtual assistants, rising need for customer service automation, growing adoption of gaming applications, enhanced accessibility tools for visually impaired individuals.
The artificial intelligence (AI) voice generator market size is expected to see exponential growth in the next few years. It will grow to $4.3 billion in 2028 at a compound annual growth rate (CAGR) of 20%. The growth in the forecast period can be attributed to the integration of AI voice generators into various devices, the expansion of virtual assistant functionalities, the demand for personalized customer experiences, the emergence of new gaming trends and applications, an increasing focus on inclusive design and accessibility standards, and the and the rising popularity of audiobooks and podcasts. Major trends in the forecast period include natural language processing advancements, multilingual support expansion, customizable voice styles, integration with IoT devices, enhanced emotional intelligence capabilities, and improved voice cloning technology.
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Market Drivers and Trends:
Major companies operating in the artificial intelligence (AI) voice generator market are focusing on voice cloning tools, to enhance the realism and versatility of generated voices, aiming to provide more natural and personalized experiences for users across various applications and industries. Voice cloning tools are software solutions that replicate the unique vocal characteristics of individuals for various applications like virtual assistants and personalized audio content creation. For instance, in March 2024, OpenAI, a US-based artificial intelligence research organization, launched Voice Engine, a voice cloning tool designed to replicate speech patterns with remarkable accuracy. OpenAI aims to leverage voice AI for reading assistance, aiding non-readers and children, and for therapeutic and educational support for non-verbal individuals and those with learning needs.
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Major Key Players of the Market:
Google LLC, Amazon Web Services Inc., Microsoft Azure, International Business Machines Corporation, Oracle Corporation, Baidu Inc., Iflytek Co. Ltd., Lingraphica Inc., Veritone Voice Inc., Descript Inc., Speechify Inc., Clipchamp Pty Ltd, ElevenLabs SAS, Murf Ai Inc., WellSaid Labs Inc., Resemble AI Pty Ltd, iSpeech Inc., CereProc Ltd, Speechelo Inc., VocaliD Inc., Voicery Inc., Replica Studios Inc., Voxygen Productions, Voicebooking.com BV, Lovo Inc., NaturalReader
Artificial Intelligence (AI) Voice Generator Market 2024 Key Insights:
• The artificial intelligence (AI) voice generator market size is expected to see exponential growth in the next few years. It will grow to $4.3 billion in 2028 at a compound annual growth rate (CAGR) of 20%.
• AI Voice Generator Market Soars Amidst Growing Demand In Advertising And Media
• Technological Advancements In AI Voice Generators With Focus On Voice Cloning And Ethical Considerations
• North America was the largest region in the artificial intelligence (AI) voice generator market in 2023
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