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Global Text-to-Speech Market to reach USD XX billion by 2028.

Global Text-to-Speech Market Size study, By Component (Software/Solution, Services), By Deployment Mode (Cloud based, On-Premise), By Type (Non-neural, Neural and Custom), By Vertical (Consumer, Automotive & Transportation, Healthcare, Education, BFSI, Retail, Enterprise, Travel and Hospitality, Others), and Regional Forecasts 2022-2028

Product Code: ICTICTS-82663436
Publish Date: 10-05-2022
Page: 200

Global Text-to-Speech Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028.

Text-to-speech is a variety of services that comprehends natural language and creates audio output full of cadence and intonation. Text-to-speech is used to convert the written content of any mobile apps, online documents, e-books, website, and e-learning tools to audio output. The increasing government expenditure on education of differently-abled students, the rising number of people with different learning disabilities, coupled with surging adoption of various handheld devices like smartphones are the chief driving factors for the global market growth. For instance, according to Statista, there were nearly 6,259 million smartphone subscriptions were accounted for globally. Also, the amount is anticipated to grow to 7,690 million smartphone subscriptions by 2027. Consequentially, rapid penetration of smartphones is likely to fuel the demand for text-to-speech, which, in turn, impels the market growth around the world. However, the creation of a generic acoustic database that includes language variations and complexity in generating prosody and pronunciation of naturally occurring speech impedes the growth of the market over the forecast period of 2022-2028. Also, seamless communication between human beings and robots and a rising inclination toward cloud-based deployment mode are anticipated to act as a catalyzing factor for the market demand during the forecast period.

The key regions considered for the global Text-to-Speech Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing spending on technological development by the leading market players and increasing AI penetration among enterprises for boosting customer experience and industry performance. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as increasing adoption of AI, analytics, and IoT devices, as well as growing awareness for voice-activated technology in the countries like Australia, India, Indonesia, China, Japan, and Singapore, would create lucrative growth prospects for the Text-to-Speech Market across the Asia-Pacific region.
Major market players included in this report are:
Nuance Communication, Inc
Microsoft Corporation
IBM Corporation
Google, Inc.
Sensory Inc.
Amazon.Com, Inc.
LumenVox LLC
Acapela Group
Nextup Technologies Pvt. Ltd.
Nexmo Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
By Deployment Mode
Cloud based
By Type:
Neural and Custom
By Vertical:
Automotive & Transportation
Travel and Hospitality
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Text-to-Speech Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Global Text-to-Speech Market, by Region, 2020-2028 (USD Billion)
1.2.2. Global Text-to-Speech Market, by Component, 2020-2028 (USD Billion)
1.2.3. Global Text-to-Speech Market, by Deployment Mode, 2020-2028 (USD Billion)
1.2.4. Global Text-to-Speech Market, by Type, 2020-2028 (USD Billion)
1.2.5. Global Text-to-Speech Market, by Vertical, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Text-to-Speech Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Text-to-Speech Market Dynamics
3.1. Text-to-Speech Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Growing government spending on education of differently-abled students Rising preference for handheld devices
3.1.2. Market Challenges Creation of a generic acoustic database that includes language variations Complexity in generating prosody and pronunciation of naturally occurring speech
3.1.3. Market Opportunities Seamless communication between human beings and robots Rising inclination toward cloud-based deployment mode
Chapter 4. Global Text-to-Speech Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Text-to-Speech Market, by Component
6.1. Market Snapshot
6.2. Global Text-to-Speech Market by Component, Performance – Potential Analysis
6.3. Global Text-to-Speech Market Estimates & Forecasts by Component 2018-2028 (USD Billion)
6.4. Text-to-Speech Market, Sub Segment Analysis
6.4.1. Software/Solution
6.4.2. Services
Chapter 7. Global Text-to-Speech Market, by Deployment Mode
7.1. Market Snapshot
7.2. Global Text-to-Speech Market by Deployment Mode, Performance – Potential Analysis
7.3. Global Text-to-Speech Market Estimates & Forecasts by Deployment Mode 2018-2028 (USD Billion)
7.4. Text-to-Speech Market, Sub Segment Analysis
7.4.1. Cloud based
7.4.2. On-Premise
Chapter 8. Global Text-to-Speech Market, by Type
8.1. Market Snapshot
8.2. Global Text-to-Speech Market by Type, Performance – Potential Analysis
8.3. Global Text-to-Speech Market Estimates & Forecasts by Type 2018-2028 (USD Billion)
8.4. Text-to-Speech Market, Sub Segment Analysis
8.4.1. Non-neural
8.4.2. Neural and Custom
Chapter 9. Global Text-to-Speech Market, by Vertical
9.1. Market Snapshot
9.2. Global Text-to-Speech Market by Vertical, Performance – Potential Analysis
9.3. Global Text-to-Speech Market Estimates & Forecasts by Vertical 2018-2028 (USD Billion)
9.4. Text-to-Speech Market, Sub Segment Analysis
9.4.1. Consumer
9.4.2. Automotive & Transportation
9.4.3. Healthcare
9.4.4. Education
9.4.5. BFSI
9.4.6. Retail
9.4.7. Enterprise
9.4.8. Travel and Hospitality
9.4.9. Others
Chapter 10. Global Text-to-Speech Market, Regional Analysis
10.1. Text-to-Speech Market, Regional Market Snapshot
10.2. North America Text-to-Speech Market
10.2.1. U.S. Text-to-Speech Market Component estimates & forecasts, 2018-2028 Deployment Mode estimates & forecasts, 2018-2028 Type estimates & forecasts, 2018-2028 Vertical estimates & forecasts, 2018-2028
10.2.2. Canada Text-to-Speech Market
10.3. Europe Text-to-Speech Market Snapshot
10.3.1. U.K. Text-to-Speech Market
10.3.2. Germany Text-to-Speech Market
10.3.3. France Text-to-Speech Market
10.3.4. Spain Text-to-Speech Market
10.3.5. Italy Text-to-Speech Market
10.3.6. Rest of Europe Text-to-Speech Market
10.4. Asia-Pacific Text-to-Speech Market Snapshot
10.4.1. China Text-to-Speech Market
10.4.2. India Text-to-Speech Market
10.4.3. Japan Text-to-Speech Market
10.4.4. Australia Text-to-Speech Market
10.4.5. South Korea Text-to-Speech Market
10.4.6. Rest of Asia Pacific Text-to-Speech Market
10.5. Latin America Text-to-Speech Market Snapshot
10.5.1. Brazil Text-to-Speech Market
10.5.2. Mexico Text-to-Speech Market
10.6. Rest of The World Text-to-Speech Market
Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. Nuance Communication, Inc Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.2.2. Microsoft Corporation
11.2.3. IBM Corporation
11.2.4. Google, Inc.
11.2.5. Sensory Inc.
11.2.6. Amazon.Com, Inc.
11.2.7. LumenVox LLC
11.2.8. Acapela Group
11.2.9. Nextup Technologies Pvt. Ltd.
11.2.10. Nexmo Inc.
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

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