Voice Cloning Market have adopted various growth strategies to expand their presence across the globe
MarketsandMarkets 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. The growth drivers for the market include a rapid surge in the demand for Internet of Things (IoT) and connected devices, and the rise in the number of initiatives in voice cloning projects.
The voice cloning technology takes various voice samples as an input to produce more natural sounding output of human voice. These solutions nowadays are being integrated with the Artificial Intelligence (AI) technology to minimize the time required to clone samples. Voice cloning solutions are expected to gain traction across various verticals to deliver a personalized experience to users.
Major vendors in the voice cloning market include 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).
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Major players in the global voice cloning market have adopted various growth strategies to expand their presence across the globe. These vendors have been majorly following strategies, such as new product launches and partnerships, from 2016 to 2018, which helped them achieve a good position and broaden customer base in the voice cloning market.
In line with the rising developments in the voice cloning technology, Baidu has been working to deliver innovative voice cloning solutions to its customers. The company is majorly focused on Research and Development (R&D) initiatives in the voice cloning technology to create more natural sounding speech samples. For instance, in February 2018, the company upgraded its voice cloning solution called Deep Voice. The upgradation to its Deep Voice solution would enhance the system’s AI capabilities by cloning a human voice in minimal time.
Another market leading company, Google is following various growth strategies to strengthen its presence in the global market. Google offers cloud-based Application Programming Interface (API) to convert text into the speech form. These cloud-based APIs include AI and Machine Learning (ML) capabilities to help developers create a natural sounding speech with 30 voices. The product launches and enhancements is the key strategy adopted by the company in the voice cloning market. This is evident from the fact that, Google, in March 2018, launched an AI voice synthesizer named Cloud TTS for developers. This launch would help businesses and developers add voice synthesis capabilities into chatbots, websites, and other applications.
Related Reports:
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
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