Dublin, Nov. 16, 2018 (GLOBE NEWSWIRE) -- 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.
Key Topics Covered
1 Introduction
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
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
4 Premium Insights
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
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 Human-Device 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
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
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
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
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
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
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
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
For more information about this report visit https://www.researchandmarkets.com/research/ngkvjg/voice_cloning?w=12