The Global Text-to-Speech Market is estimated to be USD 2.29 Bn in 2022 and is projected to reach USD 4.66 Bn by 2027, growing at a CAGR of 15.27%.
Market dynamics are forces that impact the prices and behaviors of the Global Text-to-Speech Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.
Market Segmentation
The Global Text-to-Speech Market is segmented based on Offering, Deployment Mode, Voice Type, Organization Size, Language, Vertical, and Geography.
By Offering, the market is classified into Software and Services.
By Deployment Mode, the market is classified into On Premises and Cloud Based.
By Voice Type, the market is classified into Neural And Custom Voice and Non-Neural.
By Organization Size, the market is classified into Small And Medium-Sized Enterprises and Large Enterprises.
By Language, the market is classified into English, Mandarin Chinese, Hindi, Arabic, Spanish, and Others.
By Vertical, the market is classified into Consumer Electronics, Automotive & Transportation, Healthcare & Life Sciences, Education, BFSI, Retail, Enterprises, Travel and Hospitality, and Others.
By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Acapela Group, Amazon Web Services Inc, Baidu Inc, GL Communications Inc, Google Inc, GoVivace Inc, etc.
Countries Studied
America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Text-to-Speech Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Text-to-Speech Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.
Why buy this report?
The report offers a comprehensive evaluation of the Global Text-to-Speech Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool.
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics 4.1 Drivers 4.1.1 Rising Preference for Handheld Devices 4.1.2 Increased Government Spending on Education of Differently-Abled Students 4.1.3 Dependence of Growing Elderly Population on Technology 4.1.4 Increasing Number of People with Different Learning Disabilities 4.2 Restraints 4.2.1 Complexity in Generating Prosody and Pronunciation of Naturally Occurring Speech 4.3 Opportunities 4.3.1 Seamless Communication Between Human Beings and Robots 4.3.2 Growing Artificial Intelligence Market 4.3.3 Text-To-Speech Solutions for Temporarily and Permanently Disabled Students 4.3.4 Growing Inclination Toward Cloud-Based Deployment Mode 4.4 Challenges 4.4.1 Creation of a Generic Acoustic Database That Covers Language Variations 4.4.2 Slow Network Speed in a Few Regions Limits Adoption of Cloud-Based Text-To-Speech Services
5 Market Analysis 5.1 Regulatory Scenario 5.2 Porter's Five Forces Analysis 5.3 Impact of COVID-19 5.4 Ansoff Matrix Analysis
6 Global Text-to-Speech Market, By Offering 6.1 Introduction 6.2 Software 6.3 Services 6.3.1 Software-As-A-Service 6.3.2 Support, Implementation & Consulting
7 Global Text-to-Speech Market, By Deployment Mode 7.1 Introduction 7.2 On Premises 7.3 Cloud Based
8 Global Text-to-Speech Market, By Voice Type 8.1 Introduction 8.2 Neural And Custom Voice 8.3 Non-Neural
9 Global Text-to-Speech Market, By Organization Size 9.1 Introduction 9.2 Small And Medium-Sized Enterprises 9.3 Large Enterprises
10 Global Text-to-Speech Market, By Language 10.1 Introduction 10.2 English 10.3 Mandarin Chinese 10.4 Hindi 10.5 Arabic 10.6 Spanish 10.7 Others
11 Global Text-to-Speech Market, By Vertical 11.1 Introduction 11.2 Consumer Electronics 11.3 Automotive & Transportation 11.4 Healthcare & Life Sciences 11.5 Education 11.6 BFSI 11.7 Retail 11.8 Enterprises 11.9 Travel And Hospitality 11.10 Others
12 Americas' Global Text-to-Speech Market 12.1 Introduction 12.2 Argentina 12.3 Brazil 12.4 Canada 12.5 Chile 12.6 Colombia 12.7 Mexico 12.8 Peru 12.9 United States 12.10 Rest of Americas
13 Europe's Global Text-to-Speech Market 13.1 Introduction 13.2 Austria 13.3 Belgium 13.4 Denmark 13.5 Finland 13.6 France 13.7 Germany 13.8 Italy 13.9 Netherlands 13.10 Norway 13.11 Poland 13.12 Russia 13.13 Spain 13.14 Sweden 13.15 Switzerland 13.16 United Kingdom 13.17 Rest of Europe
14 Middle East and Africa's Global Text-to-Speech Market 14.1 Introduction 14.2 Egypt 14.3 Israel 14.4 Qatar 14.5 Saudi Arabia 14.6 South Africa 14.7 United Arab Emirates 14.8 Rest of MEA
15 APAC's Global Text-to-Speech Market 15.1 Introduction 15.2 Australia 15.3 Bangladesh 15.4 China 15.5 India 15.6 Indonesia 15.7 Japan 15.8 Malaysia 15.9 Philippines 15.10 Singapore 15.11 South Korea 15.12 Sri Lanka 15.13 Thailand 15.14 Taiwan 15.15 Rest of Asia-Pacific
16 Competitive Landscape 16.1 Competitive Quadrant 16.2 Market Share Analysis 16.3 Strategic Initiatives 16.3.1 M&A and Investments 16.3.2 Partnerships and Collaborations 16.3.3 Product Developments and Improvements
17 Company Profiles 17.1 Acapela Group 17.2 Amazon Web Services Inc 17.3 Baidu Inc 17.4 GL Communications Inc 17.5 Google Inc 17.6 GoVivace Inc 17.7 IBM Corp 17.8 iSpeech Inc 17.9 LumenVox 17.10 Meta 17.11 Microsoft Corp 17.12 Nexmo Inc 17.13 NextUP Technologies LLC 17.14 Nuance Communications Inc 17.15 ReadSpeaker Holding B.V. 17.16 TextSpeak Corp
