The Asia Pacific AI Voice Cloning Market would witness market growth of 25.9% CAGR during the forecast period (2023-2030).
A substantial useful application of voice cloning AI is to assist those at risk of losing their voice or ability to communicate due to medical issues. Many degenerative diseases, including (amyotrophic lateral sclerosis) and motor neuron disease (MND), can benefit from voice cloning technology. A laryngectomy, which can result in speech loss, is one crucial procedure for which these technologies can be useful. A patient can hear a cloned version of his voice that was created from their previously recorded voice with the use of a speech-generating program. Over the projection period, the expansion of this technology is being driven by these new technology-enabled solutions.
The demand for speech and voice recognition is worth billions of dollars and is expanding quickly. Actor Val Kilmer, who suffered from throat cancer a few years ago and lost his voice, now has the opportunity to regain some of his previous vocal abilities due to AI voice cloning technology. Character development is now possible for game designers, audiobook authors, and movie directors without the necessity for real voice actors, like in the Roadrunner movie.
Due to its limited legacy health infrastructure, changing demographics, rising consumer demands, and technological advancements, Asia Pacific is well-positioned for a fast healthcare transition. These elements could allow payers, providers, governments, and patients to rethink the management and delivery of healthcare. Consumer-focused digital health ecosystems are developing in the region at a speed and scale that has never before been seen in reaction to these trends.
Additionally, in Australia, there is a growing video game industry. In 2021, this industry produced $226.5 million in sales, a 22% increase over 2020, and 83% of the revenue came from overseas markets, according to the government. These numbers will rise even further due to the deployment of substantial federal and state tax incentives. Under the Digital Games Tax Offset (DGTO), which becomes effective in 2022, studios can deduct 30% of allowable expenses.
The China market dominated the Asia Pacific AI Voice Cloning Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $557.8 million by 2030. The Japan market is registering a CAGR of 25.1% during (2023 - 2030). Additionally, The India market would witness a CAGR of 26.7% during (2023 - 2030).
Based on Component, the market is segmented into Software and Services. Based on Application, the market is segmented into Podcasting & Audiobooks, Advertising, Gaming, Chatbots & Virtual Assistants, Assistive Technologies and Others. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Vertical, the market is segmented into Media & Entertainment, Healthcare & Life Sciences, Education & E-Learning and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide AI Voice Cloning Market is Projected to reach USD 7.9 Billion by 2030, at a CAGR of 25.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Google LLC (Alphabet Inc.), Microsoft Corporation, Descript, Inc., LumenVox LLC, Amazon.com, Inc., Baidu, Inc., CandyVoice SAS, iSpeech, Inc., and CereProc Ltd.
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