The artificial intelligence (ai) voice generator global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Artificial Intelligence (AI) Voice Generator Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Artificial Intelligence (AI) Voice Generator MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence (AI) Voice Generator Market Overview
Market Drivers –
The increase in demand for AI in advertising and media is expected to propel the growth of the artificial intelligence (AI) voice generator market going forward. AI in advertising and media has gained presence with its ability to optimize target audience, curate personalize content, and analyze vast amounts of data to enhance audience engagement and ROI. AI voice generators revolutionize advertising and media by swiftly creating high-quality voiceovers and personalized content, enhancing brand communication, and engaging audiences effectively. For instance, in November 2023, according to MediaRadar, a US-based customizable advertising intelligence platform, between June 2023 and August 2023, there was a substantial surge in the number of active AI advertisers, with 120 AI brands engaging in advertising activities. This showed a substantial 87% increase from the preceding summer of 2022, during which only 70 AI advertisers were observed. Therefore, the increase in demand for AI in advertising and media will drive the growth of the artificial intelligence (AI) voice generator market.
Market 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.
The artificial intelligence (AI) voice generator market covered in this report is segmented –
1) By Type: Text To Speech, Voice Changer
2) By Deployment: On-premise , Cloud Based
3) By End-User: Healthcare, Banking, Financial Services And Insurance (BFSI), Manufacturing, Advertising And Media, Retail, Automotive, Transportation, Other End-Use Industries
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Regional Insights –
North America was the largest region in the artificial intelligence (AI) voice generator market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) voice generator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the artificial intelligence (AI) voice generator market are 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
Table of Contents
1. Executive Summary2. Artificial Intelligence (AI) Voice Generator Market Report Structure3. Artificial Intelligence (AI) Voice Generator Market Trends And Strategies4. Artificial Intelligence (AI) Voice Generator Market – Macro Economic Scenario5. Artificial Intelligence (AI) Voice Generator Market Size And Growth…..27. Artificial Intelligence (AI) Voice Generator Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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