Text-To-Speech Software Market Report 2025

This text-to-speech software market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

The text-to-speech software market size has grown rapidly in recent years. It will grow from $3.98 billion in 2024 to $4.76 billion in 2025 at a compound annual growth rate (CAGR) of 19.5%. The growth in the historic period can be attributed to increasing demand for accessibility solutions, growth in digital content consumption, advancements in natural language processing, rise in automation and AI integration, expansion of e-learning and online education, and increasing adoption of voice-activated devices.

The text-to-speech software market size is expected to see rapid growth in the next few years. It will grow to $9.7 billion in 2029 at a compound annual growth rate (CAGR) of 19.5%. The growth in the forecast period can be attributed to growing use in customer service and support, expansion in healthcare and assistive technology, enhanced AI and machine learning capabilities, increased demand for multilingual support, the development of personalized voice experiences, and rising adoption in automotive and smart home applications. Major trends in the forecast period include a shift towards more natural-sounding voices, integration with IoT and smart devices, adoption of AI-driven voice synthesis, growth in virtual and augmented reality applications, expansion into new languages and dialects, and increased focus on data privacy and security.

The growing adoption of Internet of Things (IoT) devices is expected to drive the expansion of the text-to-speech software market. IoT devices are physical objects equipped with sensors, software, and other technologies that allow them to connect and exchange data with other devices and systems over the Internet. The increased adoption of IoT devices is driven by their efficiency, automation benefits, cost savings, enhanced user experiences, and data-driven decision-making capabilities. Text-to-speech software supports the growth of IoT devices by providing vocal feedback and interaction features, making technology more accessible and user-friendly through voice communication. For example, in November 2022, Ericsson, a Sweden-based network and telecommunications company, projected that the number of global IoT-connected devices would rise from 13.2 billion in 2022 to 34.7 billion by 2028. Consequently, the adoption of IoT devices is set to drive the growth of the text-to-speech software market.

Major companies in the text-to-speech software market are focusing on developing advanced solutions, such as AI-powered speech synthesis, to produce more natural, expressive, and contextually relevant speech outputs. AI-powered speech synthesis utilizes sophisticated algorithms and AI technologies to generate highly natural and human-like speech from text. This technology aims to replicate the nuances of human intonation, rhythm, and emotion, resulting in more realistic and engaging audio outputs. For example, in May 2022, Microsoft Corporation, a US-based technology firm, introduced new features for its Azure Neural Text-to-Speech (Azure Neural TTS) service. This update included five additional US-English neural voices and eight new emotional tones, such as excited and terrified, to enhance user experiences. The expansion also introduced shouting and whispering capabilities, improving the versatility and realism of the synthesized speech for applications such as content reading and video game characters.

In June 2022, Veritone Inc., a US-based artificial intelligence technology company, acquired VocaliD for an undisclosed amount. This acquisition enables Veritone to enhance its Veritone Voice solution by integrating advanced voice models and technology. It expands features related to voice creation, management, and monetization, providing more scalable and expressive voice options. VocaliD Inc., a US-based company, specializes in creating personalized synthetic voices for text-to-speech applications.

Major companies operating in the text-to-speech software market are Google LLC, Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Vonage Holdings Corp., Nuance Communications Inc., Texthelp Ltd., Acapela Group SA, Loquendo S.p.A., Listnr Technologies Pty Ltd, Speechify Inc., ReadSpeaker Holdings B.V., Synthesia.io Limited, Sensory Inc., Linguatec Sprachtechnologien GmbH, Eleven Labs Inc., Murf AI Inc., Resemble AI Inc., Claro Software Ltd., iSpeech Inc., VocaliD Inc., CereProc Ltd., Wavel AI, NaturalReader Inc.

North America was the largest region in the text-to-speech software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the text-to-speech software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the text-to-speech software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Text-to-speech (TTS) software is an assistive technology that converts written text into spoken words. This software uses algorithms to analyze text, including punctuation and grammar and then generates synthesized speech that mimics human voice patterns. Text-to-speech (TTS) software is commonly used in applications such as virtual assistants, reading aids for the visually impaired, navigation systems, and automated customer service.

The main component types in text-to-speech software include solutions and services. Solution refers to the software and tools that provide text-to-speech capabilities. Solutions typically encompass the technology needed to convert written text into spoken words, including advanced algorithms and voice models, and are designed to be integrated into applications or platforms to deliver speech outputs that are clear and lifelike. The deployment modes are categorized into cloud and on-premise for organization size types such as small and medium-sized enterprises (SMEs), large enterprises in industry verticals, including consumer electronics, automotive and transportation, healthcare, education, finance, retail, enterprise, and others.

The text-to-speech software market research report is one of a series of new reports that provides text-to-speech software market statistics, including text-to-speech software industry global market size, regional shares, competitors with an text-to-speech software market share, detailed text-to-speech software market segments, market trends and opportunities, and any further data you may need to thrive in the text-to-speech software industry. This text-to-speech software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The text-to-speech software market consists of revenues earned by entities by providing services such as custom integration services, custom voice design, multilingual content conversion, educational and accessibility services, implementation and optimization, voiceover, and narration services. The market value includes the value of related goods sold by the service provider or included within the service offering. The text-to-speech software market also includes sales of text-to-speech software licenses, subscription plans, voice synthesis engines, language packs, voice variants, emotion and tone adjustments, custom voice creation, embedded text-to-speech solutions, reader apps, and assistive technology apps. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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