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
[149 Pages Report] 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 (20182023).
The study involved 4 major activities to estimate the current market size for the voice cloning market. The exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chain through the primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, have been referred for, to identify and collect information for this study. These secondary sources included annual reports; press releases and investor presentations of companies; white papers, certified publications, articles by recognized authors; gold standard and silver standard websites; real-time payments technology Research and Development (R&D) organizations; regulatory bodies; and databases.
Primary Research
Various primary sources from both supply and demand sides of the voice cloning market ecosystem were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various vendors who provide the real-time payments software, associated service providers, and system integrators operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. Following is the breakup of primary respondents.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
For making market estimates and forecasting the voice cloning market, and the other dependent submarkets, top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global voice cloning market by using key companies revenue and their offerings in the market. The research methodology used to estimate the market size includes the following:- The key players in the market have been identified through extensive secondary research.
- The market size, in terms of value, has been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. 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.
Report Objectives
- To define, describe, and forecast the size of the voice cloning market by component (solutions and services), application (chatbots and assistants, accessibility, digital games, interactive games, and others), deployment mode (cloud and on-premises), vertical (healthcare and life sciences, education, telecom, BFSI, travel and hospitality, media and entertainment, and others), and region (North America, APAC, Europe, Latin America and MEA). The report also aims at providing detailed information about major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market.
- The report also aims at providing detailed information about the major factors influencing the growth of the voice cloning market (drivers, restraints, opportunities, and challenges).
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain of the voice cloning market
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the voice cloning ecosystem
- To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
- To analyze strategic approaches, such as product launches, acquisitions, contracts, agreements, and partnerships, in the market
Scope Of The Voice Cloning Market Research Report
|
Report Metric |
Details |
|
Market size available for years |
20162023 |
|
Base year considered |
2017 |
|
Forecast period |
20182023 |
|
Forecast units |
Million (USD) |
|
Segments covered |
Applications, components, deployment modes, verticals, and regions |
|
Geographies covered |
North America, Europe, APAC, MEA, and Latin America |
|
Companies covered |
Google (US), Microsoft (US), IBM (US), AWS (US), AT&T (US), Baidu (China), Nuance Communications (US), iSpeech (US), NeoSpeech (US), CereProc (Scotland), Cepstral (US), Lyrebird (Canada), Kata.ai (Indonesia), alt Inc. (Japan), Aristech GmbH (Germany), Acapela Group (Belgium), VocaliD (US), Voicery (US), Voctro Labs (Spain), exClone (US), CandyVoice (France), LumenVox (US), rSpeak (Netherlands), Smartbox Assistive Technology (UK), and VivoText (Israel) |
The report segments the global market by component, application, deployment mode, vertical, and region:
Based on Component, the voice cloning market has been segmented as follows:
- Solutions
- Software tools
- Platforms
- Services
- Professional services
- Managed services
Based on application, the voice cloning market has been segmented as follows:
- Chatbots and assistants
- Accessibility
- Digital games
- Interactive games
- Others (announcement systems, text readers, and talking avatars)
Based on deployment mode, the voice cloning market has been segmented as follows:
- Cloud
- On-premises
Based on verticals, the voice cloning market has been segmented as follows:
- Healthcare and life sciences
- Education
- Media and entertainment
- Telecom
- Travel and hospitality
- Banking, Financial Services, and Insurance (BFSI)
- Others (energy and utilities, and government and defense)
Based on regions, the voice cloning market has been segmented as follows
- North America
- Europe
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
- Latin America
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix which gives a detailed comparison of prod'
- products. hardware DuerOS-powered with experiences voice-interactive cutting-edge realize to consumers enabling further development, technological accelerate well ecosystem, partner Baidu?s strengthen would that platform AI conversational a (DMA), Accessory Mobile DuerOS integrate processors signal digital voice far-field AudioSmart as>In May 2018, Nuance Communications acquired the Bellevue-based company, Voicebox Technologies. Voicebox Technologies specializes in natural language and speech recognition technologies. This acquisition would help the company strengthen its cognitive technologies' portfolio.
- In February 2018, Acapela Group partnered with SoundHound, a leading innovator in voice-enabled AI technologies. The partnership brings together the capabilities of Acapela voices and Houndify's voice AI technology, helping companies develop customized, branded voices that perfectly fit the context and the person of the brand or company
Critical questions the report answers
- What are the current trends in voice cloning market that are driving the demand for technological advancements?
- What are the upcoming technologies that are driving the voice cloning market?
- Where will all these developments take the industry in the mid to long term?
- Which are the vendors in the voice cloning market and competitive analysis?
- What are the drivers and challenges of voice cloning market?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Exclusive indicates content/data unique to MarketsandMarkets and not available with any competitors.
Table of Contents
1 Introduction (Page No. - 18)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Segmentation
1.3.1 Country Coverage
1.3.2 Years Considered for the Study
1.4 Currency Considered
1.5 Stakeholders
2 Research Methodology (Page No. - 21)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primaries
2.1.2.2 Key Industry Insights
2.1.2.3 Market Breakdown and Data Triangulation
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Assumptions for the Study
2.4 Limitations of the Study
3 Executive Summary (Page No. - 28)
4 Premium Insights (Page No. - 33)
4.1 Attractive Market Opportunities in the Voice Cloning Market
4.2 Voice Cloning Market: Top 3 Verticals
4.3 Voice Cloning Market: Major Countries
4.4 Voice Cloning Market in North America, By Solution and Country
5 Market Overview and Industry Trends (Page No. - 36)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rapid Surge in Demand for IoT and Connected Devices
5.2.1.2 Growing Number of Initiatives in Voice Cloning Projects
5.2.2 Restraints
5.2.2.1 Complexities in Recreating Natural Speech
5.2.3 Opportunities
5.2.3.1 Integrating AI Technologies With Voice Cloning Solutions
5.2.3.2 Personalization in HumanDevice Interface
5.2.4 Challenges
5.2.4.1 Concerns Over Potential Misuse of the Voice Cloning Technology
5.2.4.2 Requirement of Standard Speech Repository
5.3 Use Cases
5.3.1 Introduction
5.3.1.1 Use Case: Scenario 1
5.3.1.2 Use Case: Scenario 2
5.3.1.3 Use Case: Scenario 3
5.3.1.4 Use Case: Scenario 4
5.3.1.5 Use Case: Scenario 5
5.4 Regulatory Implications
5.4.1 Introduction
5.4.2 National Health and Medical Research Council (NHMRC)
5.4.3 The Americans With Disabilities Act (ADA) Accessibility Compliance
5.4.4 The Polish Civil Code
5.4.5 Markets in Financial Instruments Directive (MIDFID II)
6 Voice Cloning Market, By Component (Page No. - 43)
6.1 Introduction
6.2 Solutions
6.2.1 Software Tools
6.2.1.1 Ease Offered By Software Tools to Integrate the Cloned Voices Into Various Applications to Boost the Growth of Software Tools in the Voice Cloning Market
6.2.2 Platforms
6.2.2.1 Platforms Provide A Complete Foundation to Create Various Voice Cloning Applications
6.3 Services
6.3.1 Professional Services
6.3.1.1 the Technicalities Involved in Implementing the Voice Cloning Solutions to Boost the Growth of Professional Services
6.3.2 Managed Services
6.3.2.1 With the Increasing Deployment of Voice Cloning Solutions, the Requirement for Managed Services Will Also Increase
7 Voice Cloning Market, By Application (Page No. - 51)
7.1 Introduction
7.2 Chatbots and Assistants
7.2.1 Increasing Demand for Integrating the Voice Cloning Technology Into Chatbots and Assistants Application for Making Their Conversational Capabilities Sound More Natural and Personalized Will Boost the Growth of This Application
7.3 Accessibility
7.3.1 Improved Conversational Capabilities for People Suffering From Loss of Speech Will Boost the Demand for Accessibility Application
7.4 Digital Games
7.4.1 Digital Games Applications Help Children Make the Learning Process an Easy Experience
7.5 Interactive Learning
7.5.1 Rising Demand for Enhancing the Elearning Experience Will Boost the Adoption of Interactive Learning Application
7.6 Others
8 Voice Cloning Market, By Deployment Mode (Page No. - 58)
8.1 Introduction
8.2 Cloud
8.2.1 Benefits Such as Scalability and Ease of Implementation Will Boost the Growth of the Cloud Deployment Mode
8.3 On-Premises
8.3.1 Data-Sensitive Organizations Will Adopt the On-Premises Deployment Mode for Voice Cloning Solutions
9 Voice Cloning Market, By Vertical (Page No. - 62)
9.1 Introduction
9.2 Healthcare and Life Sciences
9.2.1 Integration of Voice Cloning Solutions Into the Aac Device Will Give A Boost to the Growth of Voice Cloning Solutions in the Healthcare and Life Sciences Vertical
9.3 Education
9.3.1 There is Increasing Demand for Voice Cloning Solutions in the Education Vertical to Make the Elearning Process More Easy and Personalized
9.4 Telecom
9.4.1 Integration of Voice Cloning Solutions Into Interactive Applications Such as IVR and Enquiry Systems Will Give A Boost to the Growth of Voice Cloning Solutions in the Telecom Vertical
9.5 Banking, Financial Services, and Insurance
9.5.1 Voice-Enabled ATM is the Major Application Area for Voice Cloning Solutions in the BFSI Vertical
9.6 Travel and Hospitality
9.6.1 GPS Navigation Systems Will Make Use of Voice Cloning Solutions on A Large Scale in the Travel and Hospitality Vertical
9.7 Media and Entertainment
9.7.1 Integrating Personalized Voice in Digital Games Will Boost the Growth of Voice Cloning Solutions in the Media and Entertainment Vertical
9.8 Others
10 Voice Cloning Market, By Region (Page No. - 71)
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Need to Develop Cloned Voices for People Suffering From Mnd is Expected to Increase the Adoption of Voice Cloning Solutions in the Us
10.2.2 Canada
10.2.2.1 Increasing Development in Voice Cloning Solutions is Expected to Drive the Growth of the Voice Cloning Market in Canada
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Growing Investments in AI Technologies and Developments in Speech Technologies are Expected to Drive the Market in the Uk
10.3.2 Germany
10.3.2.1 Increasing Adoption of Voice Cloning Solutions By Different Verticals is Expected to Drive the Market in Germany
10.3.3 France
10.3.3.1 Growing Focus of Solution Provider Toward Delivering Innovative Voice Cloning Solutions is Expected to Fuel the Market Growth Across the Region.
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Research Initiatives in the Voice Cloning Technology to Help Boost the Adoption of Voice Cloning Solutions
10.4.2 Japan
10.4.2.1 Increasing Focus on Delivering Personalized Experience is Expected to Increase the Adoption of Voice Cloning Solutions
10.4.3 India
10.4.3.1 Increasing Internet Penetration and Growing Adoption of Connected Devices Would Help Boost the Market Growth in India
10.4.4 Rest of Asia Pacific
10.5 Middle East and Africa
10.5.1 Israel
10.5.1.1 Rise in the Adoption of Advanced Technologies Would Provide Opportunities for Voice-Enabled Solutions
10.5.2 United Arab Emirates
10.5.2.1 Growing Digital Initiatives Would Offer Opportunities to Deploy Voice Cloning Solutions in UAE
10.5.3 Qatar
10.5.3.1 With Increasing Awareness About Voice Cloning Solutions, Qatar is Expected to Adopt Voice Cloning Solutions in the Coming Years
10.5.4 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Rising Focus of Global Voice Cloning Solution Providers in Brazil Would Help the Market Growth in the Coming Years
10.6.2 Mexico
10.6.2.1 Growing Steps Toward Revolution of Various Technologies in Mexico May Create Demand for Voice-Based Solutions in the Coming Years
10.6.3 Rest of Latin America
11 Competitive Landscape (Page No. - 98)
11.1 Overview
11.2 Ranking of Key Players
11.3 Competitive Scenario
11.3.1 New Product Launches and Product Enhancements
11.3.2 Partnerships and Collaborations
11.3.3 Mergers and Acquisitions
12 Company Profiles (Page No. - 103)
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
12.1 IBM
12.2 Google
12.3 Lyrebird
12.4 Nuance Communications
12.5 Baidu
12.6 Microsoft
12.7 AWS
12.8 AT&T
12.9 NeoSpeech
12.10 Smartbox Assistive Technology
12.11 exClone
12.12 LumenVox
12.13 Kata.Ai
12.14 Alt.Ai
12.15 CereProc
12.16 Acapela Group
12.17 VocaliD
12.18 Voicery
12.19 Aristech
12.20 Cepstral
12.21 Ispeech
12.22 VivoText
12.23 Voctro Labs
12.24 rSpeak
12.25 CandyVoice
*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 141)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets Subscription Portal
13.4 Related Reports
13.5 Author Details
List of Tables (69 Tables)
Table 1 United States Dollar Exchange Rate, 20152017
Table 2 Global Voice Cloning Market Size and Growth Rate, 20162023 (USD Million, Y-O-Y %)
Table 3 Connected Devices (In Billion), 20162022
Table 4 Voice Cloning Market Size, By Component, 20162023 (USD Million)
Table 5 Solutions: Voice Cloning Market Size, 20162023 (USD Million)
Table 6 Solutions: Market Size, By Region, 20162023 (USD Million)
Table 7 Software Tools Market Size, By Region, 20162023 (USD Million)
Table 8 Platforms Market Size, By Region, 20162023 (USD Million)
Table 9 Services: Voice Cloning Market Size, 20162023 (USD Million)
Table 10 Services: Market Size, By Region, 20162023 (USD Million)
Table 11 Professional Services Market Size, By Region, 20162023 (USD Million)
Table 12 Managed Services Market Size, By Region, 20162023 (USD Million)
Table 13 Voice Cloning Market Size, By Application, 20162023 (USD Million)
Table 14 Chatbots and Assistants: Market Size, By Region, 20162023 (USD Million)
Table 15 Accessibility: Market Size, By Region, 20162023 (USD Million)
Table 16 Digital Games: Market Size, By Region, 20162023 (USD Million)
Table 17 Interactive Learning: Market Size, By Region, 20162023 (USD Million)
Table 18 Others: Market Size, By Region, 20162023 (USD Million)
Table 19 Voice Cloning Market Size, By Deployment Mode, 20162023 (USD Million)
Table 20 Cloud: Market Size, By Region, 20162023 (USD Million)
Table 21 On-Premises: Market Size, By Region, 20162023 (USD Million)
Table 22 Voice Cloning Market Size, By Vertical, 20162023 (USD Million)
Table 23 Healthcare and Life Sciences: Market Size, By Region, 20162023 (USD Million)
Table 24 Education: Market Size, By Region, 20162023 (USD Million)
Table 25 Telecom: Market Size, By Region, 20162023 (USD Million)
Table 26 Banking, Financial Services, and Insurance: Market Size, By Region, 20162023 (USD Million)
Table 27 Travel and Hospitality: Market Size, By Region, 20162023 (USD Million)
Table 28 Media and Entertainment: Market Size, By Region, 20162023 (USD Million)
Table 29 Others: Market Size, By Region, 20162023 (USD Million)
Table 30 Voice Cloning Market Size, By Region, 20162023 (USD Million)
Table 31 Global Artificial Intelligence-Focused Spending (USD Billion)
Table 32 North America: Voice Cloning Market Size, By Country, 20162023 (USD Million)
Table 33 North America: Market Size, By Component, 20162023 (USD Million)
Table 34 North America: Market Size, By Solution, 20162023 (USD Million)
Table 35 North America: Market Size, By Service, 20162023 (USD Million)
Table 36 North America: Market Size, By Application, 20162023 (USD Million)
Table 37 North America: Market Size, By Deployment Mode, 20162023 (USD Million)
Table 38 North America: Market Size, By Vertical, 20162023 (USD Million)
Table 39 Europe: Voice Cloning Market Size, By Country, 20162023 (USD Million)
Table 40 Europe: Market Size, By Component, 20162023 (USD Million)
Table 41 Europe: Market Size, By Solution, 20162023 (USD Million)
Table 42 Europe: Market Size, By Service, 20162023 (USD Million)
Table 43 Europe: Market Size, By Application, 20162023 (USD Million)
Table 44 Europe: Market Size, By Deployment Mode, 20162023 (USD Million)
Table 45 Europe: Market Size, By Vertical, 20162023 (USD Million)
Table 46 Asia Pacific: Market Size, By Country, 20162023 (USD Million)
Table 47 Asia Pacific: Market Size, By Component, 20162023 (USD Million)
Table 48 Asia Pacific: Market Size, By Solution, 20162023 (USD Million)
Table 49 Asia Pacific: Voice Cloning Market Size, By Service, 20162023 (USD Million)
Table 50 Asia Pacific: Market Size, By Application, 20162023 (USD Million)
Table 51 Asia Pacific: Market Size, By Deployment Mode, 20162023 (USD Million)
Table 52 Asia Pacific: Market Size, By Vertical, 20162023 (USD Million)
Table 53 Middle East and Africa: Voice Cloning Market Size, By Country, 20162023 (USD Million)
Table 54 Middle East and Africa: Market Size, By Component, 20162023 (USD Million)
Table 55 Middle East and Africa: Market Size, By Solution, 20162023 (USD Million)
Table 56 Middle East and Africa: Voice Cloning Market Size, By Service, 20162023 (USD Million)
Table 57 Middle East and Africa: Market Size, By Application, 20162023 (USD Million)
Table 58 Middle East and Africa: Market Size, By Deployment Mode, 20162023 (USD Million)
Table 59 Middle East and Africa: Market Size, By Vertical, 20162023 (USD Million)
Table 60 Latin America: Voice Cloning Market Size, By Country, 20162023 (USD Million)
Table 61 Latin America: Market Size, By Component, 20162023 (USD Million)
Table 62 Latin America: Market Size, By Solution, 20162023 (USD Million)
Table 63 Latin America: Voice Cloning Market Size, By Service, 20162023 (USD Million)
Table 64 Latin America: Market Size, By Application, 20162023 (USD Million)
Table 65 Latin America: Market Size, By Deployment Mode, 20162023 (USD Million)
Table 66 Latin America: Voice Cloning Market Size, By Vertical, 20162023 (USD Million)
Table 67 New Product Launches and Product Enhancements, 20162018
Table 68 Partnerships and Collaborations, 20162018
Table 69 Mergers and Acquisitions, 20172018
List of Figures (40 Figures)
Figure 1 Global Voice Cloning Market: Research Design
Figure 2 Voice Cloning Market: Bottom-Up Approach
Figure 3 Market: Top-Down Approach
Figure 4 Market Snapshot, By Component
Figure 5 Market Snapshot, By Solution
Figure 6 Voice Cloning Market Snapshot, By Service
Figure 7 Market Snapshot, By Application
Figure 8 Market Snapshot, By Deployment Mode
Figure 9 Market Snapshot, By Vertical
Figure 10 Market Snapshot, By Region
Figure 11 Growing Number of Initiatives in Voice Cloning Projects is A Major Factor Driving the Overall Growth of the Voice Cloning Market During the Forecast Period
Figure 12 Healthcare and Life Sciences Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 India is Expected to Grow at the Highest Rate During the Forecast Period
Figure 14 Software Tools Segment and the United States Accounted for the Highest Shares in the Voice Cloning Market for North America in 2017
Figure 15 Drivers, Restraints, Opportunities, and Challenges: Voice Cloning Market
Figure 16 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 17 Platforms Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 18 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 19 Digital Games Segment is Expected to Record the Highest CAGR During the Forecast Period
Figure 20 Cloud Deployment Mode is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 21 Healthcare and Life Sciences Vertical is Expected to Witness the Highest CAGR During the Forecast Period
Figure 22 North America is Expected to Account for the Largest Market Size During the Forecast Period
Figure 23 India is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 North America: Market Snapshot
Figure 25 Asia Pacific: Market Snapshot
Figure 26 Key Developments By the Leading Players in the Global Voice Cloning Market, 20152018
Figure 27 Baidu Led the Voice Cloning Market in 2017
Figure 28 IBM: Company Snapshot
Figure 29 IBM: SWOT Analysis
Figure 30 Google: Company Snapshot
Figure 31 Google: SWOT Analysis
Figure 32 Lyrebird: SWOT Analysis
Figure 33 Nuance Communications: Company Snapshot
Figure 34 Baidu: Company Snapshot
Figure 35 Baidu: SWOT Analysis
Figure 36 Microsoft: Company Snapshot
Figure 37 Microsoft: SWOT Analysis
Figure 38 AWS: Company Snapshot
Figure 39 AWS: SWOT Analysis
Figure 40 AT&T: Company Snapshot
Growth opportunities and latent adjacency in Voice Cloning Market
"Understand how voice cloning is being used across the industry."
Analysis of TAM for Venture Capital firm.