The global text-to-speech market size is expected to reach USD 7.06 Billion at a steady CAGR of 14.7% in 2027, according to latest analysis by Emergen Research. Text to speech technology market is witnessing increasing revenue growth owing to growing traction of the software globally. Text-to-speech works with almost all personal digital devices such as tablets, smartphones, and computers. Text-to-speech tools highlight the words as they are read out aloud and serves to help children not only to see the words onscreen, but also to hear, understand, and recognize the pronunciation simultaneously.
The researchers find out why sales of Text-to-Speech are projected to surge in the coming years. The study covers the trends that will strongly favour the industry during the forecast period, 2020 to 2027. Besides this, the study uncovers important facts associated with lucrative growth and opportunities that lie ahead for the Text-to-Speech industry.
The Text-to-Speech market research for the forecast period, 2020 to 2027 cannot be underestimated for the reason that it offers a real-time data on the target market; identifies customer problems and outlines the immediate competitors. The simplified document speaks about how company owners plan to keep up with the market trends.
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This report studies the global Text-to-Speech market status and forecast, categorizes the global Text-to-Speech market size (value & volume) by key players, type, application, and region. This report focuses on the top players in North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America).
The text-to-speech market in North America accounted for largest revenue share as compared to other regional markets in 2020 due to high demand from the U.S. The rising trend of machine learning in the country and increase in demand for text-to-speech technology is driving growth of the market.
Key players in the market include IBM Corporation, Google Inc., Nuance Communication, Amazon.com, LumenVox LLC, SESTEK, Readspeaker, Sensory Inc., Acapela Group, and Nextup Technologies.
Offering Outlook (Revenue, USD Billion; 2021–2028)
Software
Services
Software-as-a-Service
Support, Implementation & Consulting
Deployment Mode Outlook (Revenue, USD Billion; 2021–2028)
On-premise
Cloud-based
Voice Type Outlook (Revenue, USD Billion; 2021–2028)
Neural and Custom Voice
Non-Neural
Organization Size Outlook (Revenue, USD Billion; 2021–2028)
Small and Medium-Sized Enterprises
Large Enterprises
Vertical Outlook (Revenue, USD Billion; 2021–2028)
Automotive & Transportation
Consumer
BFSI
Healthcare
Education
Retail
Travel and Hospitality
Assistant tool for visually impaired or disabilities (Dyslexic Reader)
Enterprises
Others (Government and Legal)
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The subject matter experts conducting the study offer a deep understanding of how prominent leaders have managed to navigate the potential buyers and competitive dynamics influencing their brand positioning in the industry The Text-to-Speech market analysis provides everything a business owner needs in order to succeed.
Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market’s growth?
Research Methodology
Data triangulation and market breakdown
Research assumptions Research data including primary and secondary data
Primary data includes breakdown of primaries and key industry insights
Secondary data includes key data from secondary sources
The Text-to-Speech report highlights set of information related to pricing and the category of customers who are more than willing to pay for certain products and services. The information on opportunities as well as product features, determine which offerings or benefits command sale and identify the communications channels used by the market leaders to create premium positioning strategies as well as attract broadest share.
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Table of content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Text-to-Speech Market Segmentation & Impact Analysis
4.1. Text-to-Speech Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing demand for growing medicinal application
4.2.2.2. Rising legalization of Text-to-Speech
4.2.2.3. Technological advancement in product invention
4.2.3. Market restraints analysis
4.2.3.1. The complex regulatory framework for the usage of Text-to-Speech
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Continued…
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