Text-to-Speech Market: Insights and Trends for the Future

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Increasing geriatric population and rising demand for handheld devices is driving growth of the global text-to-speech market. Market Size – USD 2.35 Billion in 2020, Market Growth – at a CAGR of 14.7%, Market Trends – Advancements in technology.

The Global Text-to-Speech Market Report, published by Emergen Research, offers an industry-wide assessment of the Text-to-Speech market, which is inclusive of the most crucial factors contributing to the growth of the industry. The latest research report comprises an extensive analysis of the micro- and macro-economic indicators that influence the global market development during the forecast period of 2020-2027.

The global text-to-speech market size is expected to reach USD 7.06 Billion at a steady CAGR of 14.7% in 2028, 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.

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The latest report is the most recent study that offers 360° coverage of the Text-to-Speech industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Text-to-Speech market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.

The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.

Competitive Terrain:

The Global Text-to-Speech Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold. The leading market contenders listed in the report are as follows

IBM Corporation, Google Inc., Nuance Communication, Amazon.com, LumenVox LLC, SESTEK, Readspeaker, Sensory Inc., Acapela Group, and Nextup Technologies

Segmental Analysis

The global Text-to-Speech market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Text-to-Speech sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.

  • Offering Outlook (Revenue, USD Billion; 2021–2028)

    • Software
    • Services
      1. Software-as-a-Service
      2. 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

Regional Analysis:

This section of the report offers valuable insights into the geographical segmentation of the Text-to-Speech market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.

The report classifies the global Text-to-Speech market into various regions, including:

  • North America (U.S., Canada)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Middle East Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)

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Report Highlights:

  • The report conducts a comparative assessment of the leading market players participating in the global Text-to-Speech market.
  • The report marks the notable developments that have recently taken place in the Text-to-Speech industry
  • It details on the strategic initiatives undertaken by the market competitors for business expansion.
  • It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Text-to-Speech market value chain.
  • The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.

Key questions addressed in the report:

  • Who are the leading players dominating the global Text-to-Speech Market?
  • Which factors could potentially hamper the global market growth during the forecast period?
  • Which regional market offers the most attractive growth opportunities to the companies operating in this market?
  • How is the raw material availability affecting the demand for Text-to-Speech in this industry vertical?

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