New York, United States, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The Global Artificial Intelligence Voice Cloning Market Size is to Grow from USD 1.95 Billion in 2022 to USD 11.39 Billion by 2032, at a Compound Annual Growth Rate CAGR of 19.3% during the forecast period.
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Artificial Intelligence (AI) voice cloning utilizes machine learning to create realistic and natural-sounding human speech. By training AI models on vast speech datasets, it becomes possible to capture the unique characteristics of a particular voice, including intonation, pronunciation, and speech patterns. This technology finds applications in various fields, such as entertainment, virtual assistants, and assisting individuals with speech disabilities. However, the ethical implications of voice cloning should not be overlooked, as it can be exploited for impersonation, fraud, and the dissemination of misinformation. Responsible use and regulatory frameworks are crucial to ensure the proper and ethical utilization of AI voice cloning while safeguarding privacy and preventing potential misuse.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on “Global Artificial Intelligence Voice Cloning Market Size, Share, and COVID-19 Impact Analysis, By Component (Software and Service), By Deployment (On-premises and Cloud), By Application (Gaming, Advertising, Assistive Technologies, Chatbots & Virtual Assistants, Audiobooks & Podcasting, and Others), By Industry Vertical (Media & Entertainment, Healthcare & Life Sciences, Education & E-Learning, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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The media & entertainment segment held the largest market share with more than 23.8% in 2022
Based on the industry vertical, the global artificial intelligence voice cloning market is segmented into media & entertainment, healthcare & life sciences, education & e-learning, and others. The media & entertainment segment has captured the largest market share in the artificial intelligence voice cloning market. The media and entertainment industry heavily relies on engaging and captivating content to attract and retain audiences. AI voice cloning technology allows for the creation of personalized and immersive experiences, enhancing content quality and audience engagement. The technology enables efficient dubbing and localization of content, making it easier to reach global audiences. Additionally, AI voice cloning finds applications in voice acting, virtual characters, and interactive storytelling, expanding creative possibilities for the media and entertainment sector.
The on-premises segment held the largest market share with more than 57.2% in 2022
Based on the deployment, the global artificial intelligence voice cloning market is segmented into on-premises and cloud. The on-premises segment has emerged as the leader in terms of revenue share in the artificial intelligence voice cloning market. On-premises deployment offers organizations greater control and security over their data and voice cloning processes, which is particularly important for sensitive applications. The certain industries, such as healthcare and finance, have stringent regulatory requirements that necessitate on-premises deployment to ensure compliance. Additionally, some organizations prefer on-premises solutions to maintain data privacy and reduce reliance on external service providers. Furthermore, on-premises deployment provides faster response times and lower latency, which are critical for real-time applications. Overall, the on-premises segment's larger revenue share is a result of the specific requirements and preferences of organizations seeking greater control, security, and compliance in their AI voice cloning implementations.
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Asia-Pacific is predicted to grow at a fastest CAGR of around 19.5% over the projected period
Based on region, the Asia-Pacific region is anticipated to experience the fastest growth in the forecast period in the artificial intelligence voice cloning market. The region has a large and rapidly expanding population, providing a substantial user base for AI voice cloning applications. Increasing digitization and rising smartphone penetration rates in countries like China, India, and Southeast Asian nations create a favorable environment for the adoption of voice-enabled technologies. Additionally, the entertainment and media industries in Asia-Pacific are witnessing significant growth, driving the demand for AI voice cloning in dubbing, gaming, and content creation. Furthermore, advancements in AI research and development, coupled with government support and investments in emerging technologies, contribute to the region's rapid growth in the AI voice cloning market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the global artificial intelligence voice cloning market include IBM Corporation, Google LLC, Nuance Communications, Microsoft Corporation, Lumen Vox, Descript, ISpeech, Candy Voice, Amazon.com, Inc., and Baidu. And Other Key Vendors.
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Recent Developments
- In October 2022, the transcription and EHR systems at Prime Health Dubai have just been upgraded to include Augnito, a speech-to-text voice AI program. Augnito collects clinical data with a 99.9% accuracy rate, increases productivity, aids healthcare professionals in saving time, and minimizes the administrative burden on them.
- In October 2022, the hyper-expansive corporate AI platform aiWARE and Stats Perform, the pioneer in sports tech data and AI, have announced a new strategic partnership to give real-time play-by-play, pre-game, in-game, and post-game updates. The partnership will give content creators, media outlets, marketing agencies, clubs, leagues, and betting platforms all around the world localized AI voice capabilities using the trustworthy Opta sports data from Stats Perform and the award-winning synthetic speech AI technology from Veritone.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global artificial intelligence in marketing market based on the below-mentioned segments:
Artificial Intelligence In Marketing Market, By Type
- On-Cloud
- On-Premise
Artificial Intelligence In Marketing Market, By Technology
- Machine Learning
- Adaptive Learning
- Natural Language Processing
- Natural Language Generation
- Speech Recognition
- Advanced Analytics
- Computer Vision
Artificial Intelligence In Marketing Market, By Application
- Sales Forecasting
- Content Curation
- Virtual Assistance
- Predictive Analytics
- Ad Optimization
- Dynamic Pricing
- Others
Artificial Intelligence In Marketing Market, By End-User
- BFSI
- Retail & E-Commerce
- Government
- IT & Telecommunication
- Healthcare
- Commercial Organizations
- Others
Artificial Intelligence In Marketing Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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