DUBLIN--(BUSINESS WIRE)--The "Voice Cloning Market by Component (Solutions (Software Tools & Platforms) and Services), Application (Chatbots & Assistants, Accessibility, Digital Games, Interactive learning), Deployment Mode, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
This research expects the global voice cloning market size to grow from USD 456 million in 2018 to USD 1,739 million by 2023, at a Compound Annual Growth Rate (CAGR) of 30.7% during the forecast period.
Major growth drivers for the market include the rapid surge in the demand for Internet of Things (IoT) and connected devices, and the growth in the number of initiatives in voice cloning projects. However, complexities in recreating natural speech are the major restraining factors in this market.
Services segment is expected to grow at a higher CAGR during the forecast period
In the voice cloning market by component, the services segment is expected grow at a higher CAGR during the forecast period. Most of the voice cloning vendors support their customers in the efficient use of voice cloning solutions and help maintain these solutions with voice cloning services. The voice cloning market includes services that help users replicate human voices with realistic voice quality, emotion, and unique speaking styles.
Cloud segment is expected to grow at a higher CAGR during the forecast period
In the voice cloning market by deployment mode, the cloud segment is expected to grow at a higher CAGR during the forecast period. Various vendors have started offering cloud-based voice cloning solutions. The demand for cloud-based voice cloning solutions is expected to grow due to various benefits offered by cloud, such as flexibility, scalability, and cost-effectiveness.
APAC is expected to grow at the highest CAGR during the forecast period
Among regions, APAC is expected to grow at the highest CAGR in the global voice cloning market during the forecast period. Various players across the region are focusing on Research and Development (R&D) in the voice cloning technology.
- Rapid Surge in Demand for IoT and Connected Devices
- Growing Number of Initiatives in Voice Cloning Projects
- Complexities in Recreating Natural Speech
- Integrating AI Technologies With Voice Cloning Solutions
- Personalization in Human-Device Interface
- Concerns Over Potential Misuse of the Voice Cloning Technology
- Requirement of Standard Speech Repository
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Voice Cloning Market, By Component
7 Voice Cloning Market, By Application
8 Voice Cloning Market, By Deployment Mode
9 Voice Cloning Market, By Vertical
10 Voice Cloning Market, By Region
11 Competitive Landscape
12 Company Profiles
- Acapela Group
- Nuance Communications
- Smartbox Assistive Technology
- Voctro Labs
For more information about this report visit https://www.researchandmarkets.com/research/wj4w8l/global_1_74?w=4