Text-to-Speech Market Size to Grow by USD 3.14 Billion| The emergence of handheld devices with text-to-speech functionality to boost market growth| Technavio
NEW YORK, March 4, 2022 /PRNewswire/ -- The text-to-speech market size is expected to increase by USD 3.14 billion from 2020 to 2025, registering a CAGR of 16.81%, according to the latest research report from Technavio.
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The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the emergence of handheld devices with text-to-speech functionality.
The text-to-speech market is segmented by end-user (automotive and transportation, healthcare, consumer electronics, finance, and others) and geography (North America, Europe, APAC, MEA, and South America). The text-to-speech market report also offers information on several market vendors, including Acapela Group SA, Amazon.com Inc., Cepstral, CereProc Ltd., HKUST IFLYTEK Co. Ltd., Innoetics, International Business Machines Corp., iSpeech Inc., LumenVox LLC, and Microsoft Corp. among others.
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
The text-to-speech market covers the following areas:
Text-to-Speech Market Sizing
Text-to-Speech Market Sizing Forecast
Text-to-Speech Market Sizing Analysis
Companies Mentioned
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Acapela Group SA
- Amazon.com Inc.
- Cepstral
- CereProc Ltd.
- HKUST IFLYTEK Co. Ltd.
- Innoetics
- International Business Machines Corp.
- iSpeech Inc.
- LumenVox LLC
- Microsoft Corp002E
Key Market Drivers & Challenges:
The introduction of handheld devices with text-to-speech functionality is one of the primary drivers driving growth in the text-to-speech market. The market for handheld text-to-speech translation devices has grown in line with the growth of international travel and trade, generating significant attention from travelers. Using sophisticated resources such as desktop servers and laptop computers, tremendous effort has been put in to establish dependable and appropriate translations between texts. The server handles the complete text-to-speech translation process. As a result of the need for technological advancements, the global text-to-speech market will expand.
However, the varied internet cost and coverage globally will be a major challenge for the text-to-speech market during the forecast period.
Download a free sample for highlights on market Drivers & Challenges affecting the text-to-speech market.
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Text-to-Speech Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Decelerate at a CAGR of 16.81% |
Market growth 2021-2025 | $ 3.14 billion |
Market structure | Fragmented |
YoY growth (%) | 18.97 |
Regional analysis | North America, Europe, APAC, MEA, and South America |
Performing market contribution | North America at 48% |
Key consumer countries | US, UK, Canada, Germany, and Japan |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | Acapela Group SA, Amazon.com Inc., Cepstral, CereProc Ltd., HKUST IFLYTEK Co. Ltd., Innoetics, International Business Machines Corp., iSpeech Inc., LumenVox LLC, and Microsoft Corp. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
Exhibit 02: Market Characteristics
2.2 Value Chain Analysis
Exhibit 03: Value chain analysis: Systems Software
2.2.1 Input
2.2.1.1 Developers
2.2.2 Software development
2.2.2.1 IP licensing
2.2.2.2 Product research
2.2.2.3 Product management
2.2.2.4 Product development
2.2.2.5 Production and packaging
2.2.3 Marketing and distribution
2.2.3.1 Marketing and release
2.2.3.2 Implementation
2.2.4 post-sales services
2.2.4.1 Training and certification
2.2.4.2 Maintenance and support
2.2.5 Market innovation
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 06: Global - Market size and forecast 2020 - 2025 (million $)
Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2020 & 2025
4.2 Bargaining power of buyers
Exhibit 09: Bargaining power of the buyer
4.3 Bargaining power of suppliers
Exhibit 10: Bargaining power of the supplier
4.4 Threat of new entrants
Exhibit 11: Threat of new entrants
4.5 Threat of substitutes
Exhibit 12: Threat of substitutes
4.6 Threat of rivalry
Exhibit 13: Threat of rivalry
4.7 Market condition
Exhibit 14: Market condition - Five forces 2020
5. Market Segmentation by End-user
5.1 Market segments
Exhibit 15: End-user - Market share 2020-2025 (%)
5.2 Comparison by End-user
Exhibit 16: Comparison by End-user
5.3 Automotive and transportation - Market size and forecast 2020-2025
Exhibit 17: Automotive and transportation - Market size and forecast 2020-2025 ($ million)
Exhibit 18: Automotive and transportation - Year-over-year growth 2020-2025 (%)
5.4 Healthcare - Market size and forecast 2020-2025
Exhibit 19: Healthcare- Market size and forecast 2020-2025 ($ million)
Exhibit 20: Healthcare - Year-over-year growth 2020-2025 (%)
5.5 Consumer electronics - Market size and forecast 2020-2025
Exhibit 21: Consumer electronics\ - Market size and forecast 2020-2025 ($ million)
Exhibit 22: Consumer electronics\ - Year-over-year growth 2020-2025 (%)
5.6 Finance - Market size and forecast 2020-2025
Exhibit 23: Finance- Market size and forecast 2020-2025 ($ million)
Exhibit 24: Finance - Year-over-year growth 2020-2025 (%)
5.7 Other sports - Market size and forecast 2020-2025
Exhibit 25: Other sports - Market size and forecast 2020-2025 ($ million)
Exhibit 26: Other sports - Year-over-year growth 2020-2025 (%)
5.8 Market opportunity by Software
Exhibit 27: Market opportunity by Software
6. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate, and Key purchase criteria
Exhibit 28: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 29: Market share by geography 2020-2025 (%)
7.2 Geographic comparison
Exhibit 30: Geographic comparison
7.3 North America - Market size and forecast 2020-2025
Exhibit 31: North America - Market size and forecast 2020-2025 ($ million)
Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
7.4 Europe - Market size and forecast 2020-2025
Exhibit 33: Europe - Market size and forecast 2020-2025 ($ million)
Exhibit 34: Europe - Year-over-year growth 2020-2025 (%)
7.5 APAC - Market size and forecast 2020-2025
Exhibit 35: APAC - Market size and forecast 2020-2025 ($ million)
Exhibit 36: APAC - Year-over-year growth 2020-2025 (%)
7.6 MEA - Market size and forecast 2020-2025
Exhibit 37: MEA - Market size and forecast 2020-2025 ($ million)
Exhibit 38: MEA - Year-over-year growth 2020-2025 (%)
7.7 South America - Market size and forecast 2020-2025
Exhibit 39: South America - Market size and forecast 2020-2025 ($ million
Exhibit 40: South America - Year-over-year growth 2020-2025 (%)
7.8 Key leading countries
Exhibit 41: Key leading countries
7.9 Market opportunity by geography
Exhibit 42: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Emergence of handheld devices with text-to-speech functionality
8.1.2 Information and communications technology (ICT) penetration in the education sector
8.1.3 Numerous benefits for content creator
8.2 Market challenges
8.2.1 Varied Internet cost and coverage globally
8.2.2 Limitations of text-to-speech technology
8.2.3 Competition from free sources of text-to-speech software
Exhibit 43: Impact of drivers and challenges
8.3 Market trends
8.3.1 Cloud-based text-to-speech service
8.3.2 Surge in speech analytics
8.3.3 AI applications in text-to-speech software
9. Vendor Landscape
9.1 Landscape
Exhibit 44: Vendor landscape
9.2 Landscape disruption
Exhibit 45: Landscape disruption
Exhibit 46: Industry Risk
9.3 Competitive Scenario
10. Vendor Analysis
10.1 Vendors Covered
Exhibit 47: Vendor Landscape
10.2 Market positioning of vendors
Exhibit 48: Market positioning of vendors
10.3 Acapela Group SA
Exhibit 49: Acapela Group SA - Overview
Exhibit 50: Acapela Group SA - Product and service
Exhibit 51: Acapela Group SA - Key news
Exhibit 52: Acapela Group SA - Key offerings
10.4 Amazon.com Inc.
Exhibit 53: Amazon.com Inc. - Overview
Exhibit 54: Amazon.com Inc. - Business segments
Exhibit 55: Amazon.com Inc. - Key offerings
Exhibit 56: Amazon.com Inc. - Segment focus
10.5 Cepstral
Exhibit 57: Cepstral - Overview
Exhibit 58: Cepstral - Product and service
Exhibit 59: Cepstral - Key offerings
10.6 CereProc Ltd.
Exhibit 60: CereProc Ltd. - Overview
Exhibit 61: CereProc Ltd. - Product and service
Exhibit 62: CereProc Ltd. - Key offerings
10.7 HKUST IFLYTEK Co. Ltd.
Exhibit 63: HKUST IFLYTEK Co. Ltd. - Overview
Exhibit 64: HKUST IFLYTEK Co. Ltd. - Product and service
Exhibit 65: HKUST IFLYTEK Co. Ltd. - Key offerings
10.8 Innoetics
Exhibit 66: Innoetics - Overview
Exhibit 67: Innoetics - Product and service
Exhibit 68: Innoetics - Key offerings
10.9 International Business Machines Corp.
Exhibit 69: International Business Machines Corp. - Overview
Exhibit 70: International Business Machines Corp. - Business segments
Exhibit 71: International Business Machines Corp. - Key offerings
Exhibit 72: International Business Machines Corp. - Segment focus
10.10 iSpeech Inc.
Exhibit 73: iSpeech Inc. - Overview
Exhibit 74: iSpeech Inc. - Product and service
Exhibit 75: iSpeech Inc. - Key offerings
10.11 LumenVox LLC
Exhibit 76: LumenVox LLC - Overview
Exhibit 77: LumenVox LLC - Product and service
Exhibit 78: LumenVox LLC - Key offerings
10.12 Microsoft Corp.
Exhibit 79: Microsoft Corp. - Overview
Exhibit 80: Microsoft Corp. - Business segments
Exhibit 81: Microsoft Corp. - Key offerings
Exhibit 82: Microsoft Corp. - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 83: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 84: Research Methodology
Exhibit 85: Validation techniques employed for market sizing
Exhibit 86: Information sources
11.4 List of abbreviations
Exhibit 87: List of abbreviations
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