Being able to control the loudness or softness of your voice helps to keep the audience’s attention.
Speaking too loudly for a long time will bother your audience.
Speaking too softly for a long time will annoy listeners too, as they struggle to grasp your words.
Volume level depends on the size and shape of the room.
However, you should also vary your volume level for emphasis. For example, if you’re conveying anger, you will want to increase your volume. If you are sharing something secretive with the audience, lower the volume.
Keep in mind: If speaking without a microphone ask yourself if you are loud enough to be heard by people sitting in the last row. Speaking to a large group will require more energy to breathe and control your voice volume.