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Text-to-Speech Market by Vertical, and Geography - Global Forecast to 2022

Text-to-Speech Market: Global Forecast until 2022

  • May 2017
  • 133 pages
  • ID: 4907913
In this report:
The overall text-to-speech market for the healthcare vertical in Asia Pacific was valued at USD ##,##.## thousand in 2016 and is expected to reach USD ##,##.## ## thousand by 2022, growing at a CAGR of ##.##% between 2017 and 2022.
The text-to-speech market for the automotive & transportation vertical in Rest of the World was valued at USD ##.## million in 2016 and is expected to reach USD ##.## million by 2022, growing at a CAGR of ##.##% between 2017 and 2022.

Summary

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"Increasing demand for handheld devices drives the increase of the text-to-speech market"

Mobile devices have shifted from voice-calling devices to more advanced personal computing devices that allow users to perform activities including browsing the Internet, capturing photographs, language translation, navigation guidance, and managing entertainment and multimedia content. The increasing need for automation and convenience drives the adoption of text-to-speech in everyday applications. The text-to-speech software is deployed in mobile devices, smartphones, portable devices, digital assistants, and other handheld devices.

"Growing usage of personal health monitors drives the rise of the text-to-speech market for healthcare"

The text-to-speech market for the healthcare vertical is anticipated to grow at the highest compound annual growth rate (CAGR) between 2017 and 2022. Personal assistant apps have witnessed a wide deployment of TTS software to change lifestyle with voice notifications encouraging people to exercise, stay hydrated, take medication, and so on. For the elderly and visually impaired, text-to-speech helps in prescription label reading. Using the TTS technology, the prescription is recorded into a label reading device and is played back whenever needed. Furthermore, it is also used in health monitors to offer voice feedback from heart rate monitors, blood glucose meters, and blood pressure monitors.

"Text-to-speech market in Asia Pacific (APAC) to grow at an important rate"

The text-to-speech market in Asia-Pac is anticipated to witness the highest increase owing to technological advancements as well as the increasing consumer electronics and automotive sector. China (CN) and India (IN) are among the quickest-increasing economies in the globe. Their financial strength allows them to make significant investments in different increasing end-user sectors. In Japan (JP) and China (CN), text-to-speech systems have been deployed at airports and ATMs.

The breakup of the profile of primary members taking part has been provided below:

• By Firms: Tier 1 - 20 %, Tier 2 - 35.0 percent, and Tier 3 - 45.0 percent

• By Description: C-suite executives - 25.0 percent, Directors - 35.0 percent, and Others - 40.0 percent

• By Area: America - 50.0 percent, EU - 30.0 percent, Asia-Pac - 10.0 percent, and rest of the world - 10.0 percent

The firms included in the text-to-speech market are Nuance Communication, Microsoft (NASDAQ:MSFT), Sensory Inc., LumenVox LLC, NeoSpeech, Amazon.Com, SESTEK, iSpeech Inc., TextSpeak, NextUp Technologies, Acapela Group, CereProc, ReadSpeaker, Nexmo, and rSpeak.

Segment Research

The text-to-speech market has been split on the basis of vertical and area. The industry has been further divided on the basis of vertical into consumer electronics, automotive and transportation, healthcare, education, finance, retail, enterprise, and others. On the basis of geography, the sector has been broken down into the Americas, Europe (EU), Asia Pacific (APAC), and Rest of the globe.

Why Purchasing This Study Can Help You:

The analysis would benefit the market top players/new sector entrants in this sector in these ways:

1. This document breaks down the text-to-speech market comprehensively and offers the closest approximations of the market sizes for the global market and subsegments across the distinct applications and localities.

2. The market research benefits partners to comprehend the pulse of the sector and offers them information on main market drivers, market restraints, opportunities, and alternatives.

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