AI Voice Generator Market Projected to Gain $20.4 billion by 2030

(EMAILWIRE.COM, August 14, 2024 ) According to a research report “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″ published by MarketsandMarkets, the market for AI voice generator is projected to grow significantly rising from USD 3.0 billion in 2024 to a significant USD 20.4 billion by 2030. A strong compound annual growth rate (CAGR) of 37. 1% is witnessed during the forecast period. A number of significant factors within the business environment are expected to propel the growth of the AI voice generator market. Innovations in natural language processing (NLP) and machine learning in particular have led to a notable increase in consumer interest in smart voice-activated devices and digital assistants. The growing need for accessibility features in digital content is also a major factor driving this markets upward trend.

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By application, voice conversion and cloning to register the second largest market share during the forecast period.

Voice conversion and cloning application will have a significant portion of the AI voice generator market as a result of their versatile abilities in various sectors. These applications provide authentic voice imitation and customization, improving user experiences in customer service, entertainment, and accessibility solutions. Increasing need for voice assistants, immersive gaming, and personalized content is fueling the adoption even more. Improvements in AI algorithms helps to achieve human-like, realistic voice results. Rendering these applications have become more important for companies aiming to interact with users in a more efficient and innovative manner.

By vertical, healthcare & life sciences is poised for the fastest growth rate during the forecast period.

The healthcare and life sciences sector will register for the fastest growth rate in the AI voice generator market due to the increasing use of AI-based tools in patient care and optimize operational processes. AI based virtual assistants for patient engagement and automated transcription services for medical records are changing the way healthcare is provided. The integration of generative AI technologies is being pushed by the need for remote patient monitoring, telehealth services, and precise diagnostics. Furthermore, the increasing demand for fast and successful communication between healthcare professionals and patients, particularly in settings with multiple languages, continues to drive the expansion of AI technologies in this industry over the predicted period.

By region, North America accounts for the largest market during forecast period.

North America is projected to dominate the AI voice generator market in the forecast period because of multiple important reasons. The strong basis for growth in the region is built on its solid technological infrastructure and quick integration of advanced technologies. North America is the base to leading technology firms and AI research centers which indirectly promotes growth and development in the country. Trained workforce and major investments in AI research and development continue to fuel market growth. The growing need for AI audio generator solutions in fields like media & entertainment, healthcare, and BFSI enhances the region’s leading market position.

The 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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