Text-to-Speech Market Definition
The conversion of text from website, mobile apps, e books, and online documents into the speech is done by text to speech technology. It consists of more than 180 voices and 30 languages. The file can be played back and saved for later use. This feature is used for navigations and personal assistant in smartphones. Additionally, it can be installed in Television and laptops. Since the technological developments are being done in consumer electronic the demand for the text to speech feature is increasing which is fueling the market growth.
The market study is broken down, by Application (Laptops, Smartphones and Television) and major geographies with country level splits.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Text-to-Speech market throughout the predicted period.
Nuance Communication (United States), Microsoft (United States), Sensory (United States), Amazon (United States), Neospeech (United States), Lumenvox (United States), Acapel (Brazil), Cereproc (United Kingdom), ReadSpeaker (Netherlands) and Speech Enabled Software Technologies (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Ispeech (United States) and Nextup Technologies (India).
AdvanceMarketAnalytics has segmented the market of Global Text-to-Speech market by Type, Application and Region.
On the basis of geography, the market of Text-to-Speech has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Language, the sub-segment i.e. English will boost the Text-to-Speech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End use, the sub-segment i.e. TV manufacturers will boost the Text-to-Speech market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In November 2018, Microsoft has acquired XOXCO which is an AI development company. The conversational assistants will help the employees to communicate and work better.
In June 2019, Amazon has launched natural text to speech and news caster voices. This technology will offer improved speech quality through machine learning.
- Increasing Internet Penetration
- Government Initiatives in Education Sector Is Leading to Implementation of Text To Speech Technology
- Rising Demand in Consumer Electronics is Fueling the Market Growth
- Convenience and Easy to Understand the Content is Fueling the Market Growth
- Increasing Trend of Machine Learning
- Rising Adoption in Developing Economies like India and China
- Rising Disposable Income Leading to Consumption of Smart Electronic Devices
- Preference of Written Digital Content over the Speech by Various Companies
- Difficult Speech Synthesis for Female and Children Voices
Key Target AudienceTV manufacturers, Defense controlling system manufacturers, Smart car manufacturers, Mobile handset manufacturers, Healthcare industry players and Industry experts
Key Finding and Research ObjectivesFocus of the study is to analyse characteristics that affect the nature of competition and pricing. Identifying Influencing factors keeping Text-to-Speech Market Intense, factored with periodic analysis of CR4 & CR8 concentration ratio. In-depth Competitive analysis at product and Strategic business level. Predictive analysis on upcoming trends and changes in consumer behaviour. To analyse the competitive developments, such as new product launch and merger & acquisition, in the Text-to-Speech market
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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