AI Voice Generators Market (2024 - 2030) Size, Share & Trends Analysis Report By Offering (Software, Services), By Application (Audio & Speech Generation, Voice Cloning & Conversion), By End-use, By Region, And Segment Forecasts

AI Voice Generators Market Summary

Businesses are seeking ways to provide customized interactions that enhance customer satisfaction and drive brand loyalty. AI voice generators enable companies to create customized voice interactions, from virtual assistants to personalized customer support, which can adapt to individual preferences and needs.

Rapid advancements in AI and machine learning technologies have significantly contributed to the growth of the market. Recent improvements in neural networks, deep learning, and natural language processing have enhanced the accuracy and quality of synthesized voices. AI models can now produce voices that closely resemble human speech in terms of intonation, emotion, and naturalness. These technological advancements make AI voice generators more viable for a wide range of applications, from entertainment to customer service. Enhanced algorithms and larger, more diverse datasets have also improved the ability of these systems to adapt to different languages, accents, and speech patterns. As technology continues to evolve, AI voice generators are becoming more sophisticated, driving further market growth. Companies are investing heavily in R&D to push the boundaries of what AI voice technology can achieve.

AI voice generators offer significant cost efficiency and operational benefits, which are key factors driving their market growth. Traditional voice-over work and customer service operations often require human voice actors and support staff, leading to higher costs and logistical challenges. AI voice generators provide a cost-effective alternative by automating these tasks, reducing the need for human resources and associated expenses. Businesses can scale their voice-based services more easily and at a lower cost, making advanced voice technology accessible to smaller enterprises as well. Furthermore, AI voice generators can operate 24/7 without the constraints of human fatigue or availability, improving operational efficiency and customer service responsiveness. The ability to generate high-quality, consistent voice outputs also ensures that businesses can maintain a uniform brand voice across various channels. As companies seek to optimize costs and improve operational efficiency, the adoption of AI voice generators continues to grow.

Offering Insights

The software segment led the market and accounted for 67.2% of the global revenue in 2023. The software has dominated the market due to its flexibility and scalability, allowing for the rapid development of voice technologies. The software can be updated and improved continuously with minimal expense. The proliferation of cloud computing has further enabled software-based solutions to scale effortlessly, accommodating diverse needs and applications. Moreover, software solutions offer extensive customization and integration capabilities, making them adaptable to various industries and use cases. The lower initial investment and operational costs associated with software drive widespread adoption and innovation in the market.

The services segment is projected to grow significantly over the forecast period. The services segment in the market is growing due to the increasing demand for customized and managed voice solutions across industries. Businesses seek ongoing support, maintenance, and customization services to optimize their AI voice systems and ensure they meet specific operational needs. As AI voice technology becomes more complex, companies require expert guidance for integration, deployment, and troubleshooting, leading to a rise in demand for professional services. Managed services also provide enterprises with the latest updates and innovations, ensuring their systems remain competitive. The trend towards subscription-based and on-demand service models further drives market growth, offering businesses flexible and scalable solutions.

Application Insights

The audio and speech generation segment held the largest market revenue share in 2023. Audio and speech generation has dominated the market due to its fundamental role in creating lifelike and natural-sounding voice outputs for a variety of applications. This segment addresses the core need for synthesizing high-quality speech from text, which is essential for virtual assistants, interactive voice response systems, and entertainment. The demand for personalized and engaging audio experiences has driven significant advancements in this area, making it a primary focus for developers and businesses. High-quality speech generation technology enhances user interaction by providing clear, natural, and contextually appropriate responses. As the foundation of many AI voice applications, audio and speech generation remains central to the market’s growth and innovation.

The voice cloning and conversion segment is predicted to witness significant growth in the forecast period. Voice cloning and conversion are growing in the market due to increasing interest in personalized and immersive experiences that require replicating specific voices. This technology enables the creation of custom voice avatars and personalized content, which are valuable in sectors such as entertainment, media, and customer service. The ability to convert or clone voices from brief recordings allows for innovative applications, such as recreating historical figures' voices or generating customized voiceovers for diverse media. In addition, voice cloning technology supports accessibility features, helping individuals who have lost their voices due to illness or accident to regain their ability to communicate. The continuous advancements and decreasing costs associated with voice cloning and conversion drive its expansion and adoption across various industries.

End-use Insights

The media & entertainment segment accounted for the largest revenue share in 2023. The media & entertainment sector has dominated the market due to its high demand for innovative and engaging content creation. AI voice technology is crucial for generating realistic voiceovers, dubbing, and interactive experiences in films, television, and video games. The industry benefits from the ability to produce high-quality, diverse voice outputs efficiently and cost-effectively, enhancing creative projects and audience engagement. Moreover, AI voice generators enable media companies to scale content production and adapt voices for different languages and regional markets. As a result, the sector drives significant investment and development in AI voice technology to meet its dynamic content needs.

The customer service & call centers segment is projected to grow significantly over the forecast period. The customer service & call centers segment is growing in the market due to the need for enhanced efficiency and personalization in customer interactions. AI voice technology provides scalable solutions for handling large volumes of inquiries, offering 24/7 support with consistent quality and reduced operational costs. Voice-enabled chatbots and virtual assistants improve response times and user satisfaction by delivering accurate and contextually relevant information. Moreover, AI-generated voices can be customized to match a company’s brand voice, enhancing the customer experience. The growing emphasis on automation and efficiency in customer service drives the increasing adoption of AI voice solutions in this sector.

Regional Insights

North America AI voice generators market dominated globally with a revenue share of 40.6% in 2023.North America has emerged as the dominant force in the global market, primarily driven by the presence of technological pioneers and early adopters. The region boasts a robust ecosystem of AI research institutions, startups, and established technology giants, fostering innovation and rapid development in the field. Furthermore, the early adoption of AI technologies by businesses and consumers in North America has created a fertile ground for the market to thrive.

U.S. AI Voice Generators Market Trends

The AI voice generators market in the U.S. is expected to grow significantly over the forecast period.The media and entertainment industry in the U.S. is a significant driver of the AI voice generators market. The technology is being widely used for content creation, including voiceovers, dubbing, and interactive experiences in video games, films, and virtual reality, leading to increased demand for high-quality voice synthesis.

Europe AI Voice Generators Market Trends

The AI voice generators market in Europe, with its strong automotive industry, is experiencing significant growth in the use of AI voice generators in connected cars and autonomous vehicles. AI-driven voice interfaces are increasingly being integrated to enhance in-car experiences, offering drivers hands-free controls and personalized interactions. This technology is improving safety and convenience, making it an attractive feature for automakers and consumers alike.

Asia Pacific AI Voice Generators Market Trends

Asia Pacific AI voice generators market is anticipated to register the fastest CAGR over the forecast period. The increasing popularity of smart devices and Internet of Things (IoT) solutions in Asia Pacific is boosting the demand for AI voice generators. Voice-enabled smart home devices, wearables, and mobile applications are becoming more common, driving the integration of AI voice technology in everyday life. Many countries in the Asia Pacific region are investing in AI research and development, leading to the creation of locally-developed AI voice solutions. Governments and tech companies are collaborating to advance AI capabilities, which is fostering innovation and growth in the market across the region.

Key AI Voice Generators Company Insights 

Prominent firms have used product launches and developments, followed by expansions, mergers and acquisitions, contracts, agreements, partnerships, and collaborations, as their primary business strategy to increase their market share. The companies have used various techniques to enhance market penetration and boost their position in the competitive industry. For instance, in May 2024, Truecaller, a Swedish technology company offering caller ID and spam-blocking services, teamed up with Microsoft to create a personalized AI assistant using a human user's voice. By recording a short sample, users can generate a digital replica of their voice-to-screen calls and interact with callers. This innovative feature offers a more personal and engaging communication experience.

Recent Developments

• In May 2024, Inworld AI launched Inworld Voice, an AI voice generator offering 58 diverse voices for gaming and other applications. The product features advanced machine-learning models for enhanced voice quality and customization. The first 100 requests per day are free, and integration is included for Inworld Engine customers.

• In March 2024, OpenAI introduced Voice Engine. This new AI technology can recreate a person’s voice from a 15-second recording, allowing text to be read in various languages using the synthetic voice.

• In January 2024, ElevenLabs, a Brooklyn-based AI voice and dubbing startup, raised $80M in Series B funding, totaling $101M and reaching unicorn status. The company expands its product offerings with a new Dubbing Studio and Voice Library marketplace while enhancing its AI technology.

• In January 2023, Microsoft introduced VALL-E, an AI voice simulator that can mimic a person's voice and emotional tone from just a three-second recording, outperforming existing text-to-speech systems in naturalness and similarity. While its potential applications are vast, Microsoft is cautious about its public release due to risks of misuse. It is focused on developing detection methods and adhering to Responsible AI Principles.

AI Voice Generators Market Report Scope

Global AI Voice Generators Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global AI Voice Generators market report based on offering, application, end-use, and region.

• Offering Outlook (Revenue, USD Million, 2018 - 2030)

  • Software

  • Services

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Audio and Speech Generation

  • Voice Cloning and Conversion

  • Music Composition and Generation

  • Audio Dubbing and Translation

  • Voice Restoration and Enhancement

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Media & Entertainment

  • Customer Service & Call Centers

  • Education & E-Learning

  • Healthcare

  • Advertising & Marketing

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • KSA

    • UAE

    • South Africa