What is Captioning and Subtitling Solutions?
Captions have regularly got popular with time. Today, remote learning has become a hot topic in schools and colleges. As distance learning, and virtual teaching becomes commonplace. The rapid shift towards online learning thrives the demand for auto-captioning technology. According to some industry experts, although automatic speech recognition technology improved in the last few years, still it is not able to match the quality of human captions and speech-to-text professionals, majorly for deaf people. Industry leaders believe that ASR software is not much ready to rely upon for complex situations. As technology continues to play a major role in face of life, similar to the captioning exception. Automatic Speech recognition programs including Siri and Alexa are becoming more common.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | VITAC (United States), Zoo Digital Group PLC (United Kingdom), PlayMedia Systems Inc. (United States), Telestream Inc. (United States), Digital Nirvana Inc. (India), Speechmatics (United Kingdom), Microsoft (United States), Google (United States), Rev.ai (United States), VoiceGain (United States) and IBM (United States) |
The study covers a detailed analysis segmented by key business segments i.e. , by application (Corporate, Government, Broadcast, Content Producers, Education and Others) and major geographies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Captioning and Subtitling Solutions market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Captioning and Subtitling Solutions market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are VITAC (United States), Zoo Digital Group PLC (United Kingdom), PlayMedia Systems Inc. (United States), Telestream Inc. (United States), Digital Nirvana Inc. (India), Speechmatics (United Kingdom), Microsoft (United States), Google (United States), Rev.ai (United States), VoiceGain (United States) and IBM (United States).
The market is highly fragmented by key players. Market-leading players are heavily focusing on production technologies, improving efficiency and service life. Market growth opportunities can be captured by investing the ongoing process improvement and financial flexibility to invest in market growth strategies
Influencing Trend:
Technological Advancement Associated With AI Captioning and Titling
Market Growth Drivers:
Growing demand for video is driving the demand for captioning solutions. Furthermore, artificial intelligence applied on video with automatic speed is one major trend in the captioning industry and Automatic speech recognition technology is highly adopted from the e-commerce, higher education, fitness, media and entertainment, and enterprise industries
Challenges:
Lack of real-time error correction in ASR captioning
Restraints:
The Rise in concern for ASR providers towards the rising impact of environmental factors, ASR does not include multiple speaker identification, homonym differentiation
Opportunities:
Rapid shift towards online learning because of the pandemic situation, many colleges and schools are relying upon automatic captions as a quick
Key highlights of the Global Captioning and Subtitling Solutions market Study:
CAGR of the market during the forecast period 2023-2030
In-depth information on growth factors that will accelerate the Captioning and Subtitling Solutions market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Captioning and Subtitling Solutions market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Captioning and Subtitling Solutions Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Captioning and Subtitling Solutions market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Captioning and Subtitling Solutions market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Captioning and Subtitling Solutions Service Providers, Government Regulatory and Research Organizations and End-Use Industries.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.