About Internet Captioning Service
Captions are text copies of spoken words that are displayed alongside multimedia. Captions consider audio and video content on the web accessible to those who do not have access to audio. Though captioning is mainly meant for people who cannot hear the audio, it can also benefit people with speech perception disorders and those not fluent in the language used to portray the audio. The Internet Captioning Service (ICS) is a web-based player which it allows users to view captions on their computer, tablet, or smartphone. As a meeting organiser, phone call participant, or organisation, users can get real-time captions with a simple internet connection.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Internet Captioning Service market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), VITAC (United States), 3Play Media (United States), Digital Nirvana (United States), Telestream (United States), EEG Enterprises (United States), Apptek (United States), Automatic Sync Technologies (United States), Voicebox (United States) and Ai-Media Technologies (Australia) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Internet Captioning Service market by Type (Closed Captioning Services and Live Captioning Services), Application (Universities, Colleges, Schools and workplaces) and Region.
On the basis of geography, the market of Internet Captioning Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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 Platform, the sub-segment i.e. IOS will boost the Internet Captioning Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Operating System, the sub-segment i.e. Computer will boost the Internet Captioning Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological advancement of Internet Captioning Service
Market Growth Drivers:
Growing Online Meetings, Lecture fuel the demand of Internet captioning service
Challenges:
High cost associated with Internet Captioning Service
Restraints:
Lack of accuracy of the Words Spoken and Captioned and Technical Issues associated with Internet Captioning Service
Opportunities:
Increasing Implementation of Internet Captioning Service in Various Sector can create Opportunities for the Market Growth
Market Leaders and their expansionary development strategies
On 11 May 2021, Verbit, announced the acquisition of VITAC, the largest provider of captioning products and solutions in North America. This acquisition will position Verbit as the number one player in the professional transcription and captioning market across legal, media, education, government and corporate sectors.
In June 2023, SyncWords, the leading provider of AI live captioning, subtitling, and dubbing, is thrilled to announce a Unified Platform for In-player Delivery of Live AI Captions, Subtitles, and Dubs. With this release, real-time captions, subtitles, and audio translations can be accessed inside a streaming media player (i.e. in-player), allowing users to choose between multiple languages. This marks a significant milestone for live video streaming, enabling global audiences to enjoy content in their preferred language using subtitles or voice translation.
Key Target Audience
Internet Captioning Service Provider, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.