AI Voice Generator Market by Technology (Deep Learning, Transformer Models, Generative Adversarial Networks (GANs), Autoencoder; Voice Translation, Voice Cloning, Text to Speech, Virtual Assistants, AI Music Generator) - Global Forecast to 2030
[440 Pages Report] The AI voice generator market is experiencing a fast expansion, estimated to increase in market value from around USD 3.0 billion in 2024 to USD 20.4 billion by 2030. The increase in voice-activated technology usage in retail, healthcare, and automobile sectors, along with the demand for reliable and quality translation services and the development of AI content creation tools, is responsible for the impressive 37.1% annual growth rate from 2024–2030. Developments in neural networks and deep learning have quickly driven the growth of advanced AI speech generator technology. These advancements have enhanced the efficiency of artificial voices, making them even more authentic and human-like, which has increased their utilization in customer service, accessibility tools, and entertainment sector. Adoption of advanced user experience and automation is increasing in industries like healthcare, BFSI, and retail. Government regulations are changing to address ethical concerns, privacy issues, and data security. Steps are being taken to prioritize the promotion of innovation and the responsible use of AI. Nations are implementing structures to harmonize technological advancement with the welfare of society and moral values.
Generative AI Impact Assessment Index: AI Voice Generator
AI Voice Generator Market Size
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Market Dynamics
Driver: Increasing Demand for Voice-Enabled Devices and Virtual Assistants
The increasing need for voice enabled devices and digital assistants is a major factor boosting the development of AI voice technologies. The use of smart technology has increased as both consumers and businesses welcome these innovations. These devices heavily depend on advanced generative AI to grasp, analyze, and answer voice commands accurately and naturally. The trend is being driven by the convenience and efficiency of voice interactions, as users look for hands-free, intuitive methods to handle tasks and obtain information. Moreover, the incorporation of voice-activated technology in industries like healthcare, automotive, and customer service improves user satisfaction and operational effectiveness. The increasing use of voice-controlled interfaces is driving investments in generative AI technologies, thus speeding up the market's growth.
Restraint: Lack of explainability in AI decision-making processes for AI audio generator
As these technologies advance, the internal workings that produce their results can often still be unclear, leading to a "black box" situation. The absence of clear information creates difficulties for developers, users, and regulators who must comprehend the reasons behind specific AI audio generator and AI speech generator outputs. Lack of understanding Gen AI decisions can cause trust problems, impede use in vital applications, and make it difficult to comply with regulatory standards requiring accountability and fairness. In areas such as healthcare and finance, where accurate and dependable audio communications are vital, the inconsistent nature of AI-generated voice can lead to doubts about precision and impartiality. Continuing research on explainable AI methods is necessary to ensure responsible and effective deployment of generative AI models by improving transparency and accountability.
Opportunity: The integration of gen AI with emerging technologies like 5G and edge computing can enable real-time audio and speech generation
The real-time generation and processing of voice is made possible by the ultra-low latency and high-speed data transmission features of 5G, alongside the distributed processing power of edge computing. This collaboration enables smooth, immediate voice conversations in tasks like live language interpretation, engaging video games, and interactive virtual helpers, improving user experiences and creating opportunities for new advancements. By utilizing generative AI technologies, businesses can provide responsive AI audio generator solutions that are contextually aware and operate effectively. It minimizes the reliance on centralized cloud infrastructure for more dependable service provision. This progress is ready to propel the upcoming surge of expansion in the market, as companies aim to provide state-of-the-art, immediate voice-activated services across different industries.
Challenge: Misuse of generative AI audio generator technologies for fraud, misinformation, and other malicious activities
With the progression and integration of generative AI technologies, there is a risk of deep fake audio, identity theft, and the spread of fake news. At present, cybercriminals can use AI voices to impersonate individuals or organizations, building trust with targets and manipulating them through persuasive communication to benefit the criminals. There is a need for appropriate regulations, effective detection techniques for misconduct in generative AI designs, and ethical guidelines to combat this danger. Industry stakeholders need to focus on creating secure, transparent, and ethically sound AI solutions while also working with policymakers and cybersecurity specialists to prevent misuse and promote safe implementation of generative AI technologies.
AI voice generator Market Ecosystem
By Software type, deep learning models segment to account for the largest market share in 2024
The remarkable ability of deep learning models to process and generate complex voice data is what positions them to take the lead in the AI voice generator market. These models are particularly good at tasks like audio generation, voice synthesis, and speech recognition which are becoming important in applications like virtual assistants accessibility tools content creation and entertainment. Deep learning models will have substantial growth due to the quick development of deep learning architectures. The increasing need for voice-activated technologies across a range of industries will further boost the growth. Deep learning models in the audio and speech modality is fueled by the growing popularity of podcasts and AI audio generator content as well as by the growing integration of AI voice generator controlled interfaces in smart devices.
By Deployment mode, cloud deployment mode is slated to register the highest growth rate during the forecast period.
The AI voice generator market is projected to see rapid growth in the cloud deployment mode in the forecast period, mainly because of its scalability, flexibility, and cost-effectiveness. Cloud-based solutions allow companies to use advanced AI capabilities without requiring large initial investments in infrastructure, making cutting-edge voice technologies more attainable for a wider variety of businesses. The ability to quickly adjust resources according to demand enables companies to manage changing workloads effectively, especially for applications needing real-time processing and handling of large amounts of data. Cloud platforms make it easier to integrate with other cloud-based services, improving the functionality and performance of generative AI applications.
By Application, audio and speech synthesis segment will hold the largest market share in 2024.
During the forecast period, audio and speech synthesis application is expected to hold the largest market share in AI voice generator market, primarily because of their wide usage in various industries and their ability to bring about significant changes. These platforms allow for the generation of realistic, human-like speech, improving user interactions. The growing need for customized and compelling AI audio generator material is leading to the incorporation of AI speech generator in different use cases. Development in AI algorithms and neural networks has enhanced the authenticity and efficiency of generated voice by increasing its attractiveness.
By Region, Asia Pacific is set to experience the fastest growth rate during the forecast period.
Due to the regions rapid technological advancements, growing investments in AI research and the broad adoption of AI-driven solutions across multiple industries, the Asia Pacific region is anticipated to grow at the fastest rate in the AI voice generator market. With substantial government funding and support for AI development, countries like China, India, and Japan are leading the way in AI innovation. This expansion is further fueled by the regions growing digital economies, expanding consumer electronics market and the growing demand for smart devices. Asia Pacific is a major growth area for generative AI in voice technologies because of the regions large and diverse population base which also offers plenty of opportunities for personalized and localized AI applications.
Key Market Players
The AI voice generator solution and service providers have implemented several types of organic and inorganic growth strategies, such as new product launches, product upgrades, partnerships, and agreements, business expansions, and mergers and acquisitions to strengthen their offerings in the market. Some major players in the AI voice generator market include Google (US), AWS (US), Microsoft (US), NVIDIA (US), Meta (US), along with SMEs and startups such as Voicemod (Spain), Descript (US), Simplified (US), Soundful (US), and DeepBrain AI (South Korea).
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Report Metrics |
Details |
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Market size available for years |
2019–2030 |
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Base year considered |
2023 |
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Forecast period |
2024–2030 |
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Forecast units |
USD (Billion) |
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Segments Covered |
Offering, Application, Vertical, and Region |
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Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
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Companies covered |
IBM (US), NVIDIA (US), OpenAI (US), Meta (US), Microsoft (US), Google (US), AWS (US), Cisco (US), SoundHound (US), Speechify (US), ElevenLabs (US), Synthesia (UK), PlayHT (US), Resemble AI (US), Stability AI (UK), Runway (US), AMAI (US), Musico (Netherlands), Descript (US), Aiva Technologies (Luxembourg), dubdub.ai (India), Deepdub (Israel), Dubverse (India), Respeecher (Ukraine), BeyondWords (UK), Voicemod (Spain), Replica Studios (Australia), Simplified (US), Murf AI (US), Listnr AI (US), DeepBrain AI (South Korea), Camb.ai (UAE), Podcastle (US), Lovo AI (US), Soundful (US). |
This research report categorizes the AI voice generator market based on offering, application, vertical, and region:
By Offering:
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Software
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Software, By Type
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Deep Learning Models
- Convolutional Neural Networks
- Recurrent Neural Networks
- Long Short-Term Memory (LSTM) Networks
- Gated Recurrent Units (GRUs)
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Generative Adversarial Networks (GANs)
- Wave GANs
- Speech GANs
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Autoencoders
- Denoising Autoencoders
- Variational Autoencoders (VAEs)
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Transformer Models
- SpeechBERT
- HuBERT (Hidden-Unit BERT)
- Speech-Transformer
- Wav2Vec
- WaveNet
- Tacotron
- Other Transformer Models
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Deep Learning Models
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Software, By Deployment Mode
- Cloud
- On-Premises
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Software, By Type
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Services
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Professional Services
- Training and Consulting Services
- System Integration and Implementation Services
- Support and Maintenance Services
- Managed Services
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Professional Services
By Application:
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Audio and Speech Synthesis
- Text-to-Speech (TTS)
- Speech-to-Speech Translation
- Custom Voice Synthesis
- Virtual Assistants
- Others
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Voice Conversion and Cloning
- Voice Mimicking
- Language Localization
- Emotion Transformation
- Personalized Digital Voices
- Others
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Music Generation and Composition
- Automated Music Creation
- Music Style Transfer
- Soundtrack Generation
- Music Remixing and Mashups
- Others
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Audio Dubbing and Translation
- Multilingual Audio Dubbing
- Real-time Translation
- Voice Match Dubbing
- Narrative Dubbing
- Others
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Voice Enhancement and Restoration
- Audio Noise Reduction
- Audio Upscaling
- Speech Enhancement
- Old Record Restoration
- Others
- Other Applications
By Vertical:
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Media & Entertainment
- Voice-Based Content Moderation
- Automated News Reading
- Personalized Audio Advertising
- Ai-Generated Radio Shows
- Speech Synthesis for Audiobooks
- Others
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BFSI
- Financial Data Audio Transcription
- Financial Customer Support and Service
- Voice Assisted Fraud Detection
- Voice-Activated Financial Transactions
- Voice-Enabled Claims Processing
- Others
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Healthcare & Life Sciences
- Voice Assistants for Patients
- Speech-Activated Medical Devices
- Medical Dictation and Transcription
- AI-Powered Telemedicine Consultations
- Audio-Based Triage Systems
- Others
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Manufacturing
- Acoustic Quality Control
- Voice-Enabled Process Optimization
- Ai Monitoring And Voice Alerts
- Audio-Enhanced Safety Training
- Audio Inventory Management
- Others
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Retail & Ecommerce
- Voice-Based Shopping Assistants
- Personalized Audio Ads
- Audio Product Descriptions
- Voice Search Optimization
- Audio-Controlled Inventory Management
- Others
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Transportation & Logistics
- Emergency Audio Response and Assistance
- Voice-Enabled Navigation
- Audio-Based Fleet Management
- Speech Recognition for Driver Commands
- Voice-Controlled Warehouse Operations
- Others
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Construction & Real Estate
- Voice Assisted Site Monitoring
- Voice-Activated Property Tours
- Voice-Controlled Building Automation Systems
- Audio Design Consultations
- Equipment Maintenance Audio Alerts
- Others
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Energy & Utilities
- Acoustic Anomaly Detection
- Emergency Response Coordination
- Voice-Activated Control Systems
- Voice-Controlled Smart Grid Systems
- Predictive Maintenance Audio Alerts
- Others
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Government & Defense
- Audio Deepfake Detection
- Speech Recognition for Surveillance
- Public Safety Announcements
- Audio Forensics
- Voice Biometrics and Authentication
- Others
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IT & ITeS
- Automated Voice Response Systems
- AI-Powered Training Programs
- Voice Authentication for IT Systems
- Voice-Controlled IDE
- Automated Meeting Transcriptions
- Others
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Telecommunications
- Real-Time Language Translation
- Language Generation For IVR Systems
- Speech Emotion Recognition
- Voice Quality Enhancement
- Automated Call Summarization
- Others
- Other Verticals
By Region:
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North America
- United States
- Canada
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Europe
- UK
- Germany
- France
- Italy
- Spain
- Finland
- Rest of Europe
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Asia Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Australia and New Zealand (ANZ)
- Rest of Asia Pacific
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Middle East and Africa
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Middle East
- Saudi Arabia
- UAE
- Turkey
- Qatar
- Rest of Middle East
- Africa
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Middle East
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Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Recent Developments:
- In May 2024, Microsoft partnered with Truecaller to utilize the new personal voice technology from Microsoft Azure AI Speech. With the addition of Microsoft Azure AI Speech’s Personal Voice, users of the Truecaller Assistant will be able to create a completely digital version of their own voice to use inside the Assistant.
- In March 2023, Google Cloud announced a collaboration with Replica Studios to enhance game production, gameplay, and distribution, ushering in a new era of Living Games. Replica’s Voice Lab takes cues from a prompt to generate a unique voice, and when combined with Google’s Gemini Pro model, can utilize a game’s assets, environment, and lore to create a cast of thousands of diverse characters.
- In January 2024, ElevenLabs officially launched a set of new products, including Dubbing Studio, Voice Library marketplace, an early-preview of a Mobile Reader App, and new models with improved speed and language coverage.
- In January 2024, Cisco and Tata Communications partnered to launch their Webex Calling solution in India with cloud public switched telephone network (PSTN), aimed at helping enterprises move from on-premises phone systems to a global cloud calling system.
- In November 2023, OpenAI launched a new text-to-speech (TTS) API that can generate high-quality human-like speech from text. The TTS model offers six preset voices to choose from and two model variants - tts-1 optimized for real-time use cases, and tts-1-hd optimized for quality.
- In June 2023, Meta announced the launch of VoiceBox, a groundbreaking AI model that represents a major advancement in generative speech technology. VoiceBox can perform a wide range of speech-related tasks, including text-to-speech synthesis, speech editing and noise reduction, and cross-lingual style transfer.
Frequently Asked Questions (FAQ):
What is AI voice generator?
An AI voice generator is a software system that utilizes artificial intelligence, particularly deep learning models such as neural networks, to produce human-like speech. These systems are designed to convert text into natural-sounding audio, replicating the nuances, intonations, and characteristics of human speech. AI voice generator leverages advanced algorithms and extensive datasets of recorded human voices to learn and mimic various accents, tones, and speaking styles. They are used in a wide range of applications, including virtual assistants, customer service bots, content creation, voiceovers, and accessibility tools for individuals with disabilities.
What is the total CAGR expected to be recorded for the AI voice generator market during 2024-2030?
The AI voice generator market is expected to record a CAGR of 37.1% from 2024-2030.
What types of models are used in AI voice generator solutions?
Models such as Generative Adversarial Networks (GANs), Variational Autoencoders (VAEs), and Transformer-based models (like SpeechBERT, Wave2Vec, WaveNet) are commonly used in AI voice generator, AI audio generator, and AI speech generator.
How are datasets prepared for training generative AI models in voice modality?
Datasets for training generative AI models in voice modality are curated to include diverse, high-quality audio samples. They are labeled and segmented to provide contextual information for training. Preprocessing steps such as noise reduction, normalization, and sometimes augmentation are applied to enhance the dataset's quality and ensure effective model training.
Which are the top 3 applications prevailing in the AI voice generator market?
Audio & speech synthesis, voice conversion & cloning, and audio dubbing & translation are the top three applications in the AI voice generator market. These applications are crucial for the creation of realistic, human-like speech for virtual assistants, personalized and versatile voice options, and multilingual content production. These applications leverage generative AI to enhance user experiences, streamline workflows, and expand creative possibilities.
Who are the key vendors in the AI voice generator market?
Some major players in the AI voice generator market include IBM (US), NVIDIA (US), OpenAI (US), Meta (US), Microsoft (US), Google (US), AWS (US), Cisco (US), SoundHound (US), Speechify (US), ElevenLabs (US), Synthesia (UK), PlayHT (US), Resemble AI (US), Stability AI (UK), Runway (US). .
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The AI voice generator market research study involved extensive secondary sources, directories, journals, and paid databases. Primary sources were mainly industry experts from the core and related industries, preferred AI voice generator providers, third-party service providers, consulting service providers, end users, and other commercial enterprises. In-depth interviews were conducted with various primary respondents, including key industry participants and subject matter experts, to obtain and verify critical qualitative and quantitative information, and assess the market’s prospects.
Secondary Research
In the secondary research process, various sources were referred to, for identifying and collecting information for this study. Secondary sources included annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; and articles from recognized authors, directories, and databases. The data was also collected from other secondary sources, such as journals, government websites, blogs, and vendors websites. Additionally, AI voice generator spending of various countries was extracted from the respective sources. Secondary research was mainly used to obtain key information related to the industry’s value chain and supply chain to identify key players based on solutions, services, market classification, and segmentation according to offerings of major players, industry trends related to software, services, technology, applications, verticals, and regions, and key developments from both market- and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, including Chief Experience Officers (CXOs); Vice Presidents (VPs); directors from business development, marketing, and AI voice generator expertise; related key executives from AI voice generator solution vendors, SIs, professional service providers, and industry associations; and key opinion leaders.
Primary interviews were conducted to gather insights, such as market statistics, revenue data collected from solutions and services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped in understanding various trends related to technologies, applications, deployments, and regions. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Strategy Officers (CSOs), and end users using AI voice generator solutions, were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current usage of AI voice generator solutions and services, which would impact the overall AI voice generator market.
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Market Size Estimation
Multiple approaches were adopted for estimating and forecasting the AI voice generator market. The first approach involves estimating the market size by summation of companies’ revenue generated through the sale of solutions and services.
Market Size Estimation Methodology-Top-down approach
In the top-down approach, an exhaustive list of all the vendors offering solutions and services in the AI voice generator market was prepared. The revenue contribution of the market vendors were estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each vendor's offerings were evaluated based on breadth of software and services according to software type, applications, deployment modes, and verticals. The aggregate of all the companies’ revenue was extrapolated to reach the overall market size. Each subsegment was studied and analyzed for its global market size and regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included extensive interviews for key insights from industry leaders, such as CIOs, CEOs, VPs, directors, and marketing executives. The market numbers were further triangulated with the existing MarketsandMarkets’ repository for validation.
Market Size Estimation Methodology-Bottom-up approach
In the bottom-up approach, the adoption rate of AI voice generator solutions and services among different end users in key countries with respect to their regions contributing the most to the market share was identified. For cross-validation, the adoption of AI voice generator solutions and services among different end users, along with different use cases with respect to their regions, was identified and extrapolated. Weightage was given to use cases identified in different regions for the market size calculation.
Based on the market numbers, the regional split was determined by primary and secondary sources. The procedure included the analysis of the AI voice generator market’s regional penetration. Based on secondary research, the regional spending on Information and Communications Technology (ICT), socio-economic analysis of each country, strategic vendor analysis of major AI voice generator providers, and organic and inorganic business development activities of regional and global players were estimated. With the data triangulation procedure and data validation through primary interviews, the exact values of the overall AI voice generator market size and segments’ size were determined and confirmed using the study.
Global AI voice generator Market Size: Bottom-Up and Top-Down Approach:
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
Market Definition
An AI voice generator is a software or system that employs artificial intelligence and machine learning methods to create human-like speech or audio. These systems undergo training using extensive sets of recorded voices and written data in order to understand the subtleties of human speech, such as tone, pitch, and rhythm. The AI voice generator can generate natural-sounding speech or audio and be tailored to different voices, accents, and speech styles. AI voice generators can be used in virtual assistants, audiobooks, automated customer service, and personalized voice experiences across different digital platforms.
Stakeholders
- AI voice generator software developers
- Business analysts
- Cloud service providers
- Consulting service providers
- Enterprise end-users
- Distributors and Value-added Resellers (VARs)
- Government agencies
- Independent Software Vendors (ISV)
- Managed service providers
- Market research and consulting firms
- Support & maintenance service providers
- System Integrators (SIs)/migration service providers
- Technology providers
Report Objectives
- To define, describe, and forecast the AI voice generator market, by offering (software, and services), organization size, application, and analytics type
- To provide detailed information related to major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth
- To analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total market
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the AI voice generator market
- To analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
- To forecast the market size of segments for five main regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America
- To profile the key players and comprehensively analyze their market ranking and core competencies
- To analyze competitive developments, such as partnerships, product launches, and mergers and acquisitions, in the AI voice generator market
- To analyze the impact of recession in the AI voice generator market across all the regions
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per your company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product quadrant, which gives a detailed comparison of the product portfolio of each company.
Geographic Analysis
- Further breakup of the North American AI voice generator market
- Further breakup of the European market
- Further breakup of the Asia Pacific market
- Further breakup of the Middle Eastern & African market
- Further breakup of the Latin America market
Company Information
- Detailed analysis and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in AI Voice Generator Market