The text-to-speech technology converts text into natural-sounding speech using an API powered by artificial intelligence (AI) technologies. The growing trend of automation and convenience is increasing the adoption of text-to-speech technology in everyday applications, which fueling the demand for the text-to-speech market over the forecast period
MARKET DYNAMICS
The growing demand for handheld devices, the dependence of the rising elderly population on technology, increasing government spending on education for differently-abled, and the increasing number of people with different learning disabilities or learning styles are the prime factors driving the demand for the text-to-speech market during the forecast period. The major restraint of the global text-to-speech market is complexity in generating prosody and pronunciation of naturally occurring speech. Text-to-speech is the latest technology that will help people and create a development opportunity in the text-to-speech market.
MARKET SCOPE
The Global Text-to-Speech Market Analysis to 2028 is a specialized and in-depth study of the text-to-speech industry with a special focus on the global market trend analysis. The report aims to provide an overview text-to-speech market with detailed market segmentation as offering, language, deployment type, enterprise size, end-user, and geography. The global text-to-speech market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading text-to-speech market players and offers key trends and opportunities in the text-to-speech market.
MARKET SEGMENTATION
The global text-to-speech market is segmented on the basis of offering, language, deployment type, enterprise size, end-user. On the basis of offering the market is segmented as solution, services. On the basis of language the market is segmented as English, Spanish, Hindi, Chinese, Arabic, others. On the basis of deployment type the market is segmented as cloud, on-premises. On the basis of enterprise size the market is segmented as SMEs, large enterprises. On the basis of end-user the market is segmented as automotive and transportation, healthcare, government and education, BFSI, retail, travel and hospitality, others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global text-to-speech market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The text-to-speech market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting text-to-speech market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the text-to-speech market in these regions.
MARKET PLAYERS
The reports cover key developments in the text-to-speech market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from text-to-speech market are anticipated to lucrative growth opportunities in the future with the rising demand for text-to-speech in the global market. Below mentioned is the list of few companies engaged in the text-to-speech market.
The report also includes the profiles of key text-to-speech companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Acapela Group
- Amazon Web Services, Inc.
- CereProc Ltd.
- Google LLC
- IBM Corporation
- Microsoft Corporation
- Naturaltts
- Nuance Communication
- Readspeaker
- SESTEK
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.