What is Text-to-Speech?
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 break-up.
Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Text-to-Speech market throughout the predicted 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.
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 coverage are Ispeech (United States) and Nextup Technologies (India).
Segmentation Overview
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.
Market Trend
- Increasing Internet Penetration
- Government Initiatives in Education Sector Is Leading to Implementation of Text To Speech Technology
Market Drivers
- 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
Opportunities
- Rising Adoption in Developing Economies like India and China
- Rising Disposable Income Leading to Consumption of Smart Electronic Devices
Restraints
- Preference of Written Digital Content over the Speech by Various Companies
Challenges
- Difficult Speech Synthesis for Female and Children Voices
Key Target Audience
TV manufacturers, Defense controlling system manufacturers, Smart car manufacturers, Mobile handset manufacturers, Healthcare industry players and Industry experts
Key Finding and Research Objectives
Focus 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 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 the 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 purpose to understand companys positioning regarding 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 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, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.