Global AI Voice Generator Market By Deployment (On-premise and Cloud Based), By End-User Industries (Healthcare, BFSI, Manufacturing, Advertising & Media, and Other End-use Industries), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the global AI Voice Generator Market was valued at US$ 1,210 Million. Between 2023 and 2032, this market is estimated to register the highest CAGR of 15.40%.

The AI voice generator devices generate human voices for films, advertising, games, and other purposes. The AI voice generator is an artificial tool used to convert scripts into audio, helping to reduce speech time. Voice processing artificial intelligence uses natural language for processing. The voice processing application allows customers to receive current-time service from a company and handle hands-free requests, which improves customer service. The AI voice generator converts text to human speech.

The realistic AI voice generator improves this device by adding emotional elements and variation in delivering words. This form of software learning motivates social media content creators to use voice backgrounds and tell audio book stories. The use of AI voice generators is greater when platforms have a wide range of general language to keep content applicable to a larger target audience.

Driving Factors

Increase in demand for AI Voice Generator Technology

The increase in demand for AI Voice Generator Technology for customer convenience and digitalization helps to drive market growth. The voice generator reduces the need for users to read lengthy guidelines and speeches.

For individuals with difficulty reading text, an AI voice generator solves their problem. The AI voice generator works on a deep learning algorithm that is similar to the human brain. The advanced network can make logical effects, voice variation, and human mimicry speaking patterns. Such factors help to drive market growth.

For instance, the Mix voice AI voice generator supports 22 languages for video editing, reaching new audiences easily. The Mix voice editor explores the volumes of female and male voices in different languages across the world. No other person can replace the connectivity gained by adding vocal elements. Mix voice supports the creator to fill the gap between content creator and viewer, and this factor drives the AI voice generator market growth.

Restraints

Lack of Skilled Professionals

The lack of education among people who are unaware of these tools will restrict the growth of the global AI voice generator market during the forecast period. This is because they cannot transfer the appropriate information to patients.

The huge funding required for developing or using AI voice generator tools also hinders market growth. Several market players make huge investments in installing new tools and advanced machines to raise the process. This eventually increases the return cost.

By Deployment Analysis

Cloud Based Deployment Segment Held the Largest Market Share in AI Voice Generator Market

Based on deployment, the market is divided into on-premise and cloud-based deployment. Cloud-based artificial intelligence has many advantages, such as reduced operating costs and high scalability.

Cloud-based deployment for machine learning in artificial intelligence is estimated to boost the market during the forecast period. Cloud-based deployment controls the cost using consumption-based pricing and also involves new digital business models. It empowers users with self-service options, executive portals, and an operational dashboard.

Many companies such as Amazon, IBM, and Google use it currently to make work easier. The rising need for cloud-based devices shows a significant growth in the forecast period. Cloud deployment has also given many benefits by using remote services. On-premise deployment offers many storage options.

By End-User Industries Analysis

Advertising and Media Segment Held the Largest Segment in Market

Based on the end-user, the Artificial intelligence voice generator market is segmented into healthcare, BFSI, manufacturing, advertising & media, retail, automotive, transportation, and other end-users. The advertising and media segment holds the largest revenue share in the market.

During the pandemic, media, TV, and radios were the only medium that helped to entertain people and overcome the situation. They also provided updates regarding the Covid-19 situation. During Covid-19, the healthcare sector has shown predictable growth in the artificial intelligence voice generator market by rapidly increasing the adoption of artificial intelligence software.

The BFSI and retail sectors are also seen as major players in the artificial intelligence voice generator market. The rising demand for the artificial intelligence voice generator market to fight against fraud activities and cyber-attacks to improve customer demand by providing the best service to patients helps to drive the global AI Voice Generator market.

Key Market Segments

Based on deployment

• ON-Premise
• Cloud-Based

End-Use Industries

• Healthcare
• BFSI
• Manufacturing
• Retail
• Automotive and Transportation
• Advertising and Media
• Other End-Use Industries

Opportunity

Rise in Technological Advancements

Significant technological advancements in software and an expanded range of problem detectors are expected to increase the demand for the global voice generator market. Voice generator tools can be used by people with communication and speech impairments and can contain words, letters, or images to convey messages to one another in different languages and improve vocabulary options.

Government funding for schools and colleges, as well as the increasing demand for artificial intelligence voice generator devices, is expected to create opportunities for the global AI voice generator market to grow during the forecast period.

Trends

Increase in Demand for AI in Advertising and Media

Many social media channels offer a wide range of AI voice generator tools that are very useful for specialty tools such as Mix Voice. The latest trends in voice generator devices and advanced developments are touch screen devices, voice detector devices, and other devices that are expected to get more opportunities to players in the global AI voice generator market.

By using artificial intelligence voice generator tools, non-speaking objects such as toys and animals can also convey messages to audiences, which is widely used in advertising and media to improve performance across the world. These tools are widely used for advertising and media to improve performance across the world.

The utilization of an AI voice generator also helps to give a voice to educational videos or tutorials, which helps to boost the global AI voice generator market. AI voice generators are widely supported by animations and gaming replay. This helps the audience to get a more comprehensive understanding.

COVID-19 Impact Analysis

COVID-19 Positively Effect on the Global AI Voice Generator Market

The COVID-19 pandemic has positively affected the global AI voice generator market. During the COVID-19 period there is an increase in work-from-home activities, so many companies have started working by using artificial intelligence software to complete their industry work.

Artificial intelligence helps companies to monitor job work properly by using remote areas. Artificial intelligence helped companies monitor job work effectively and solve problems. AI software also helped many companies connect with clients remotely.

Many companies are taking interest to invest in artificial intelligence software even after the COVID-19 situation. This is due to the increasing importance of artificial intelligence voice generators for better revenue shares and improved customer interaction.

During the pandemic, schools and colleges were closed, so many institutions began teaching online, and students were able to contact their teachers directly using various devices such as mobile phones and tablets. Additionally, the healthcare sector experienced rapid growth during the pandemic as they reduced their workload and managed patient data using artificial intelligence.

Regional Analysis

North America Dominate the Global AI Voice Generator Market

The AI voice generator market is segmented into North America, Western Europe, Eastern Europe, Asia Pacific,  Latin America, and Middle East Africa. North America is the dominating region across the globe, due to an increase in investments.

North America shows significant growth in the artificial intelligence market due to an increase in manufacturing, retail, and healthcare industries. The adoption of 5G technology is estimated to boost market growth in the Asia Pacific region.

The occurrence of main key players in China, such as Baidu, Inc. & Alibaba Cloud, and Huawei Support the global AI voice generator market growth. The Middle East Region is expected to grow in upcoming years by increasing governments focus & initiatives for motivating advanced technologies and research developments.

Key Regions and Countries Covered in this Report

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis

Emerging key players are focused on a variety of strategic policies to develop their respective businesses in foreign markets. Several AI Voice Generator market companies are concentrating on expanding their existing operations and R&D facilities.

Furthermore, businesses in the AI Voice Generator market are developing new products and portfolio expansion strategies through investments and mergers, and acquisitions. In addition, several key players are now focusing on different marketing strategies such as spreading awareness about natural ingredients, which is boosting the target products’ growth.

Recent Developments

• In October 2022: Facebook Parent Meta launched a new set of free artificial intelligence tools for its applications to improve the performance of underlying chips.
• In October 2022: IBM declared the expansion of its embeddable artificial intelligence tools collection. This extended portfolio provides access to AI libraries that control popular IBM Watson products, including industry-leading products that provide a better end-user experience.

Market Key Players

With the presence of many local and regional players, the market for AI Voice Generator is fragmented. Market players face intense competition from top market players, especially those with strong brand recognition and high distribution networks. To stay on top of the market, companies have gained various expansion strategies such as partnerships and product launches.

Listed below are some of the most prominent AI Voice Generator Market players:

• Baidu, Inc.
• Google LLC
• Oracle
• Tobii AB
• PRC Saltillo
• Lingraphica
• TOBY CHURCHILL Ltd.
• Zygo
• Attainment Company, Inc.
• Jabbla
• Amazon Web Services, Inc.
• Other key players

Report Scope: