A text-to-speech is also called read aloud technology. It is an assistive technology that is used to reads the words from smartphone, computers and any other digital platform. It is a software-based technology. It is popular among individuals with reading disabilities. It provides contribution in learning, increasing literacy rate , these factors make useful technology for the market.
The manufacturing companies of text-to-speech are now focusing on increasing the sensitivity of text-to-speech, which will provide more learning and understanding text benefits. This development will help text-to-speech to penetrate more in the market. The text-to-speech find their applications in diverse sectors such as Introduction, Consumer, Healthcare, Automotive & Transportation, Education, BFSI, Assistant tool for visually impaired or disabilities, Travel and Hospitality, Retail, Enterprise, and Others
"The Global Text-to-Speech market is segmented on the basis of By Type, By Components, By Language, By Deployment Mode, By Organization and By End-Use.. Based on Type, the market is divided into Non-Neural, Neural , and Custom. In terms of Component, the market is categorized into Software/Solution, and Services.. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
COVID-19 Scenario Analysis:
The outbreak of the COVID-19 pandemic has severely affected the business of almost all industries. While the COVID-19 pandemic crisis unfolds, regulatory bodies all over the world compel to impose strict lockdown and travel bans. Moreover, this has drastically affected the growth of the text-to-speech market.
Due to the COVID-19 pandemic, the supply chain systems were disrupted as a number of fundamental equipment and materials are profoundly dependent on imports from other countries. Furthermore, the strict instruction of the governing bodies to follow social distancing norms forced the industries to work with minimal workforce, which led to the decrease in the production rate of the industries. Thus, all these factors negatively impacted the text-to-speech market.
However, after the COVID-19 pandemic, the diversified and innovative applications of text-to-speech such as Introduction, Consumer, Healthcare, Automotive & Transportation, Education, BFSI, Assistant tool for visually impaired or disabilities, travel and hospitality, retail, enterprise, and others will foster the growth of the text-to-speech market.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The top impacting factor for Text-to-speech market is emerging demand for handheld devices such as smart phones, tablets and others in consumer electronics. Text-to-speech software installed in handheld devices provide navigation, entertainment content and translate language.
In medical and healthcare increasing number of disabilities with the people in reading and understanding text, Text-to-speech technology provide individual with audio facility and help them to understand by converting the audio in their
preferred language . Thus, the need for text-to- speech in medical and healthcare surge the demand for text-to-speech in the market.
In education sector, increased in government initiative to introduce advance technology of students with disabilities, text-to-speech provide learning benefits to the students. Thus, rise in advance technology in education centers surge the demand for text-to-speech technology in the market.
However, absence of correct pronunciation of natural occurring speech restraint the market growth of text-to-speech in the market.
Text-to-speech Market trends are as follows:
Rise in Number of Learning Disabilities in People
People with learning difficulties such as dyslexia face the problem of understanding the text and content. These texts may not make sense to them and therefore remain unknown. This in turn makes their development and knowledge processing skills difficult. Text-to-speech technology can help people with learning difficulties and can enhance the capabilities of these people by converting the texts into auditory format and making them easier to understand. Thus, learning disabilities in people create opportunities in text and language technology, which help Text-to-speech to penetrate more in the market.
Key Benefits of The Report:
- This study presents the analytical depiction of text-to-speech market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of text-to-speech market share.
- The current market is quantitatively analyzed to highlight text-to-speech market growth scenario.
- Porter’s Five Forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed text-to-speech market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in Text-To-Speech Market Research Report:
- Who are the leading market players active in text-to-speech market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Text-to-Speech Market Report Highlights
By Deployment Mode
Key Market Players
LumenVox LLC (US), SESTEK (Turkey), Readspeaker (Netherlands), Amazon.Com (US),, Sensory Inc. (US), Google, Inc. (US), IBM Corporation (US, iFlytek (China)., Nuance Communication (US), CereProc (Scotland), Microsoft Corporation (US), Acapela Group (France)
text-to-speech, TextSpeak (US), Nextup Technologies (US), iSpeech (US),, Nexmo Inc. (US), Baidu, Inc. (China), Facebook Research (US), Govivace (US),, GL Communications (US).