diff --git a/packages/block-library/src/cover/test/edit.js b/packages/block-library/src/cover/test/edit.js
index 74db754ff1696..8a391baa5f01d 100644
--- a/packages/block-library/src/cover/test/edit.js
+++ b/packages/block-library/src/cover/test/edit.js
@@ -64,9 +64,9 @@ describe( 'Cover block', () => {
 			await setup();
 
 			expect(
-				screen.getByRole( 'group', {
-					name: 'To edit this block, you need permission to upload media.',
-				} )
+				within( screen.getByLabelText( 'Block: Cover' ) ).getByText(
+					'To edit this block, you need permission to upload media.'
+				)
 			).toBeInTheDocument();
 		} );
 
diff --git a/packages/components/CHANGELOG.md b/packages/components/CHANGELOG.md
index bfa095a9d32bb..b0102ecc3ca17 100644
--- a/packages/components/CHANGELOG.md
+++ b/packages/components/CHANGELOG.md
@@ -2,8 +2,9 @@
 
 ## Unreleased
 
-### Bug fix
+### Bug Fix
 
+-   `Placeholder`: Improved DOM structure and screen reader announcements ([#45801](https://github.com/WordPress/gutenberg/pull/45801)).
 -   `DateTimePicker`: fix onChange callback check so that it also works inside iframes ([#54669](https://github.com/WordPress/gutenberg/pull/54669)).
 
 ## 25.8.0 (2023-09-20)
diff --git a/packages/components/src/placeholder/index.tsx b/packages/components/src/placeholder/index.tsx
index 13634f6710d94..cdb845710251d 100644
--- a/packages/components/src/placeholder/index.tsx
+++ b/packages/components/src/placeholder/index.tsx
@@ -8,6 +8,8 @@ import classnames from 'classnames';
  */
 import { useResizeObserver } from '@wordpress/compose';
 import { SVG, Path } from '@wordpress/primitives';
+import { useEffect } from '@wordpress/element';
+import { speak } from '@wordpress/a11y';
 
 /**
  * Internal dependencies
@@ -72,10 +74,17 @@ export function Placeholder(
 		modifierClassNames,
 		withIllustration ? 'has-illustration' : null
 	);
+
 	const fieldsetClasses = classnames( 'components-placeholder__fieldset', {
 		'is-column-layout': isColumnLayout,
 	} );
 
+	useEffect( () => {
+		if ( instructions ) {
+			speak( instructions );
+		}
+	}, [ instructions ] );
+
 	return (
 		<div { ...additionalProps } className={ classes }>
 			{ withIllustration ? PlaceholderIllustration : null }
@@ -90,14 +99,12 @@ export function Placeholder(
 				<Icon icon={ icon } />
 				{ label }
 			</div>
-			<fieldset className={ fieldsetClasses }>
-				{ !! instructions && (
-					<legend className="components-placeholder__instructions">
-						{ instructions }
-					</legend>
-				) }
-				{ children }
-			</fieldset>
+			{ !! instructions && (
+				<div className="components-placeholder__instructions">
+					{ instructions }
+				</div>
+			) }
+			<div className={ fieldsetClasses }>{ children }</div>
 		</div>
 	);
 }
diff --git a/packages/components/src/placeholder/style.scss b/packages/components/src/placeholder/style.scss
index 1cb3edfcfdbba..ce98350b76735 100644
--- a/packages/components/src/placeholder/style.scss
+++ b/packages/components/src/placeholder/style.scss
@@ -72,18 +72,6 @@
 	}
 }
 
-// Overrides for browser and editor fieldset styles.
-.components-placeholder__fieldset.components-placeholder__fieldset {
-	border: none;
-	padding: 0;
-
-	.components-placeholder__instructions {
-		padding: 0;
-		font-weight: normal;
-		font-size: 1em;
-	}
-}
-
 .components-placeholder__fieldset.is-column-layout,
 .components-placeholder__fieldset.is-column-layout form {
 	flex-direction: column;
diff --git a/packages/components/src/placeholder/test/index.tsx b/packages/components/src/placeholder/test/index.tsx
index c01de24eb2b05..dbb88a4882634 100644
--- a/packages/components/src/placeholder/test/index.tsx
+++ b/packages/components/src/placeholder/test/index.tsx
@@ -8,6 +8,7 @@ import { render, screen, within } from '@testing-library/react';
  */
 import { useResizeObserver } from '@wordpress/compose';
 import { SVG, Path } from '@wordpress/primitives';
+import { speak } from '@wordpress/a11y';
 
 /**
  * Internal dependencies
@@ -41,6 +42,9 @@ const Placeholder = (
 
 const getPlaceholder = () => screen.getByTestId( 'placeholder' );
 
+jest.mock( '@wordpress/a11y', () => ( { speak: jest.fn() } ) );
+const mockedSpeak = jest.mocked( speak );
+
 describe( 'Placeholder', () => {
 	beforeEach( () => {
 		// @ts-ignore
@@ -48,10 +52,11 @@ describe( 'Placeholder', () => {
 			<div key="1" />,
 			{ width: 320 },
 		] );
+		mockedSpeak.mockReset();
 	} );
 
 	describe( 'basic rendering', () => {
-		it( 'should by default render label section and fieldset.', () => {
+		it( 'should by default render label section and content section.', () => {
 			render( <Placeholder /> );
 			const placeholder = getPlaceholder();
 
@@ -74,9 +79,12 @@ describe( 'Placeholder', () => {
 			);
 			expect( placeholderInstructions ).not.toBeInTheDocument();
 
-			// Test for empty fieldset.
-			const placeholderFieldset =
-				within( placeholder ).getByRole( 'group' );
+			// Test for empty content. When the content is empty,
+			// the only way to query the div is with `querySelector`
+			// eslint-disable-next-line testing-library/no-node-access
+			const placeholderFieldset = placeholder.querySelector(
+				'.components-placeholder__fieldset'
+			);
 			expect( placeholderFieldset ).toBeInTheDocument();
 			expect( placeholderFieldset ).toBeEmptyDOMElement();
 		} );
@@ -104,27 +112,38 @@ describe( 'Placeholder', () => {
 			expect( placeholderLabel ).toBeInTheDocument();
 		} );
 
-		it( 'should display a fieldset from the children property', () => {
-			const content = 'Fieldset';
+		it( 'should display content from the children property', () => {
+			const content = 'Placeholder content';
 			render( <Placeholder>{ content }</Placeholder> );
-			const placeholderFieldset = screen.getByRole( 'group' );
+			const placeholder = screen.getByText( content );
 
-			expect( placeholderFieldset ).toBeInTheDocument();
-			expect( placeholderFieldset ).toHaveTextContent( content );
+			expect( placeholder ).toBeInTheDocument();
+			expect( placeholder ).toHaveTextContent( content );
 		} );
 
-		it( 'should display a legend if instructions are passed', () => {
+		it( 'should display instructions when provided', () => {
 			const instructions = 'Choose an option.';
 			render(
 				<Placeholder instructions={ instructions }>
-					<div>Fieldset</div>
+					<div>Placeholder content</div>
+				</Placeholder>
+			);
+			const placeholder = getPlaceholder();
+			const instructionsContainer =
+				within( placeholder ).getByText( instructions );
+
+			expect( instructionsContainer ).toBeInTheDocument();
+		} );
+
+		it( 'should announce instructions to screen readers', () => {
+			const instructions = 'Awesome block placeholder instructions.';
+			render(
+				<Placeholder instructions={ instructions }>
+					<div>Placeholder content</div>
 				</Placeholder>
 			);
-			const captionedFieldset = screen.getByRole( 'group', {
-				name: instructions,
-			} );
 
-			expect( captionedFieldset ).toBeInTheDocument();
+			expect( speak ).toHaveBeenCalledWith( instructions );
 		} );
 
 		it( 'should add an additional className to the top container', () => {