Global Text-to-Speech Market 2018-2022
Text to speech is the type of service that understands natural spoken languages and generates audio output with full intonation and cadence. It can convert the written content of any website, mobile applications, e-books, online documents, and e-learning tools to audio output.
Technavio’s analysts forecast the global text-to-speech market to grow at a CAGR of 15.92% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global text-to-speech market for 2018-2022. To calculate the market size, the report considers the revenue generated by vendors offering text-to speech software and server platforms to several industries across the globe.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Text-to-Speech Market 2018-2022
Technavio recognizes the following companies as the key players in the global text-to-speech market: Amazon.com, IBM, Microsoft, Nuance Communications, and welocalize.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the availability of cloud-based text-to-speech service. The demand for text-to-speech solutions is rising in the market. This trend is mainly due to the growing demand for the cloud-based text-to-speech software. These solutions are typically designed to offer access to the application via web-based browsers. These web-based applications give access to the user to log into the portal via any Internet-enabled computer or device.”
According to the report, one of the major drivers for this market is the emergence of handheld devices with text-to-speech functionality. As international travel and commerce have increased, the market for handheld text-to-speech translation systems has also risen by attracting significant interest from travelers. In the recent years, automatic text-to-speech translation has seen maximum development from developers’ side.
Further, the report states that one of the major factors hindering the growth of this market is the difference in internet cost and coverage across the globe. One of the biggest challenges to the market is the latency in data transmission during retrieval from the cloud infrastructure. Latency in the cloud-based network is less predictable and further complicated to measure.
Amazon.com, IBM, Microsoft, Nuance Communications, and welocalize.
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