Market Research Insights
Which geography would provide most opportunities in Voice Cloning Industry in
next 5 years?
Which geography would provide most
opportunities in Voice Cloning Industry in
next 5 years?
Jan 22nd, 2019 · Comments Off on Which geography would provide most opportunities in Voice
Cloning Industry in next 5 years?
The global voice cloning market size to grow from USD 456 million in 2018 to 1,739 million by
2023, at a Compound Annual Growth Rate (CAGR) of 30.7% during the forecast period (2018–2023).
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 are expected to drive the market in the coming
Voice cloning solutions enable enterprises to provide personalized experience, as these solutions help
create a copy of human voice in a digital format which can be integrated into various applications.
Enterprises that belong to various verticals, including media and entertainment; Banking, Financial
Services, and Insurance (BFSI); telecom; travel and hospitality; healthcare and life sciences;
education; and others (energy and utilities, and government and defense), by deploying voice cloning
solutions can provide personalized experience to their customers. Moreover, with the integration of
Artificial Intelligence (AI) and Machine Learning (ML) technologies into voice cloning solutions,
enterprises can enhance the quality of voice cloned, as well as reduce the time required for the voice
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period, as
the growth in the digitalization and the use of IoT devices would create opportunities to
deliver a seamless experience across various channels, such as web and mobile.
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