Text-to-Speech Market by Vertical (Healthcare, Enterprise, Consumer Electronics, Automotive & Transportation, Finance, Education, Retail), and Geography(Americas, Europe, Asia Pacific) - Global Forecast to 2022

  • ID: 4244534
  • Report
  • Region: Global, Asia, Asia Pacific, Europe
  • 133 Pages
  • Markets and Markets
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Text-to-Speech Market worth 3.03 Billion USD by 2022

FEATURED COMPANIES

  • Acapela Group (Belgium)
  • Cereproc (Scotland)
  • Kasisto Inc. (US)
  • Nexmo (US)
  • Readspeaker (Netherlands)
  • Sensory Inc. (US)
  • MORE

“Rising demand for handheld devices drives the growth 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 such as browsing the Internet, capturing photographs, language translation, navigation guidance, and managing entertainment and multimedia content. The growing 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 growth of the text-to-speech market for healthcare”

The text-to-speech market for the healthcare vertical is expected to grow at the highest 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. Moreover, it is also used in health monitors to provide voice feedback from heart rate monitors, blood glucose meters, and blood pressure monitors.
 
“Text-to-speech market in Asia-Pacific to grow at a high rate”

The text-to-speech market in APAC is expected to witness the highest growth owing to technological advancements as well as the growing consumer electronics and automotive industry. China and India are among the fastest-growing economies in the world. Their financial strength enables them to make significant investments in various growing end-user industries. In Japan and China, text-to-speech systems have been deployed at airports and ATMs.

The breakup of the profile of primary participants has been given below:

  • By Companies: Tier 1 - 20 %, Tier 2 - 35%, and Tier 3 - 45%
  • By Designation: C-level Executives - 25%, Directors - 35%, and Others - 40%
  • By Region: America - 50%, Europe - 30%, Asia Pacific - 10%, and RoW - 10%

The companies covered in the text-to-speech market are Nuance Communication (US), Microsoft Corporation (US), Sensory Inc. (US), LumenVox LLC (US), NeoSpeech (US), Amazon.Com (US), SESTEK (Turkey), iSpeech Inc. (US), TextSpeak (US), NextUp Technologies (US), Acapela Group (France), CereProc (Scotland), ReadSpeaker (Netherlands), Nexmo (US), and rSpeak (Netherlands).

Research Coverage:

The text-to-speech market has been segmented on the basis of vertical and geography. The market has been further segmented on the basis of vertical into consumer electronics, automotive and transportation, healthcare, education, finance, retail, enterprise, and others. On the basis of geography, the market has been segmented into the Americas, Europe, Asia Pacific, and Rest of the World.

Reasons to Buy the Report:

The report would help the market leaders/new entrants in this market in the following ways:

  1. This report segments the text-to-speech market comprehensively and provides the closest approximations of the market sizes for the overall market and sub-segments across the different applications and regions.
  2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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FEATURED COMPANIES

  • Acapela Group (Belgium)
  • Cereproc (Scotland)
  • Kasisto Inc. (US)
  • Nexmo (US)
  • Readspeaker (Netherlands)
  • Sensory Inc. (US)
  • MORE
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Secondary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Text-to-Speech Market
4.2 Vertical-Wise and Region-Wise Snapshot of the Text-to-Speech Market
4.3 Healthcare Vertical Expected to Witness the Highest Growth Rate Between 2017 and 2022
4.4 China Expected to Witness the Highest Growth Rate Between 2017 and 2022

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Demand for Handheld Devices
5.2.1.2 Increased Government Spending on Education for the Differently Abled
5.2.2 Restraints
5.2.2.1 Lack of Prosody and Pronunciation of Naturally Occurring Speech
5.2.3 Opportunities
5.2.3.1 Enabling Seamless Communication Between Human Beings and Robots
5.2.3.2 Growing Market for Artificial Intelligence
5.2.4 Challenges
5.2.4.1 Creation of A Generic Acoustic Database That Covers Language Variations
5.2.4.2 Slow Network Speed in Some of the Regions Limits the Adoption of Cloud-Based Text-to-Speech Services

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Core Industry Segments
6.2.1.1 Research and Product Development
6.2.1.2 Manufacturers
6.2.1.3 System Integrators
6.2.1.4 End Users
6.3 Porter’s Five Forces Analysis
6.3.1 Threat of New Entrants
6.3.2 Bargaining Power of Suppliers
6.3.3 Threat of Substitutes
6.3.4 Bargaining Power of Buyers
6.3.5 Intensity of Competitive Rivalry

7 Text-to-Speech Market, By Vertical
7.1 Introduction
7.2 Automotive & Transportation
7.3 Enterprise
7.4 Consumer Electronics
7.5 Healthcare
7.6 Finance
7.7 Education
7.8 Retail
7.9 Others

8 Geographical Analysis
8.1 Introduction
8.2 Americas
8.3 US
8.4 Europe
8.5 Asia Pacific
8.6 Rest of the World

9 Competitive Landscape
9.1 Overview
9.2 Vendor Dive Overview
9.2.1 Vanguard
9.2.2 Dynamic
9.2.3 Innovator
9.2.4 Emerging
9.3 Business Strategies Adopted By Major Players in the Text-to-Speech Market
9.4 Analysis of the Product Portfolio of Major Players in the Text-to-Speech Market

*Top Companies Analyzed for This Study are - Nexmo (US), Voxygen (London), Innoetics Text-to-Speech Technologies (Greece), Rspeak (Netherlands), Ispeech (US), Kasisto, Inc. (US), Sunrom Electronics (India), Rubidium (Israel), Cepstral (US) Wizzard Software (US), SESTEK (Turkey), Appen (Australia), Nuance Communications (US), Microsoft Corporation (US), Sensory Inc. (US), Lumenvox, LLC (US), Neospeech (US), Amazon.Com (US), Acapela Group (Belgium), Cereproc (Scotland), Readspeaker (Netherlands), Iflytek (China), Textspeak (US), Pronexus (Canada), Welocalize (US), Nextup Technologies (US)

10 Company Profiles
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
10.1 Introduction
10.2 Nuance Communication
10.3 Microsoft Corporation
10.4 Sensory Inc.
10.5 Amazon.Com Inc.
10.6 Neospeech
10.7 Lumenvox LLC.
10.8 Acapela Group
10.9 Cereproc
10.10 ReadSpeaker
10.11 Speech Enabled Software Technologies (SESTEK)
10.12 Ispeech, Inc.
10.13 Textspeak
10.14 Nextup Technologies, LLC
10.15 Start-Up Ecosystem
10.15.1 Nexmo Inc.
10.15.2 Rspeak Technologies

*Details on Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

11 Appendix
11.1 Insights of Industry Experts
11.2 Discussion Guide
11.3 Knowledge Store
11.4 Introducing RT: Real-Time Market Intelligence
11.5 Available Customizations
11.6 Related Reports
11.7 Author Details

List of Tables:
Table 1 Text-to-Speech Market, By Vertical, 2014-2022 (USD Million)
Table 2 Text-to-Speech Market for Automotive & Transportation Vertical, By Application, 2014-2022 (USD Million)
Table 3 Text-to-Speech Market for Enterprise Vertical, By Application, 2014-2022 (USD Million)
Table 4 Text-to-Speech Market for Consumer Electronics Vertical, By Application, 2014-2022 (USD Million)
Table 5 Text-to-Speech Market for Healthcare Vertical, By Application, 2014-2022 (USD Million)
Table 6 Text-to-Speech Market for Finance Vertical, By Application, 2014-2022 (USD Million)
Table 7 Text-to-Speech Market for Education Vertical, By Application, 2014-2022 (USD Million)
Table 8 Text-to-Speech Market for Retail Vertical, By Application, 2014-2022 (USD Million)
Table 9 Text-to-Speech Market, By Region, 2014-2022 (USD Million)
Table 10 Text-to-Speech Market in Americas, By Country, 2014-2022 (USD Million)
Table 11 Text-to-Speech Market in Americas, By Vertical, 2014-2022 (USD Million)
Table 12 Text-to-Speech Market for Consumer Electronics Vertical in Americas, By Application, 2014-2022 (USD Million)
Table 13 Text-to-Speech Market for Automotive & Transportation Vertical in Americas, By Application, 2014-2022 (USD Million)
Table 14 Text-to-Speech Market for Healthcare Vertical in Americas, By Application, 2014-2022 (USD Million)
Table 15 Text-to-Speech Market for Education Vertical in Americas, By Application, 2014-2022 (USD Million)
Table 16 Text-to-Speech Market for Finance Vertical in Americas, By Application, 2014-2022 (USD Million)
Table 17 Text-to-Speech Market for Retail Vertical in Americas, By Application, 2014-2022 (USD Million)
Table 18 Text-to-Speech Market for Enterprise Vertical in Americas, By Application, 2014-2022 (USD Million)
Table 19 Text-to-Speech Market for Other Verticals in Americas, By Application, 2014-2022 (USD Million)
Table 20 Text-to-Speech Market in US, By Vertical, 2014-2022 (USD Million)
Table 21 Text-to-Speech Market for Consumer Electronics Vertical in US, By Application, 2014-2022 (USD Million)
Table 22 Text-to-Speech Market for Automotive Vertical in US, By Application, 2014-2022 (USD Million)
Table 23 Text-to-Speech Market for Healthcare Vertical in US, By Application, 2014-2022 (USD Million)
Table 24 Text-to-Speech Market for Education Vertical in US, By Application, 2014-2022 (USD Million)
Table 25 Text-to-Speech Market for Finance Vertical in US, By Application, 2014-2022 (USD Million)
Table 26 Text-to-Speech Market for Retail Vertical in US, By Application, 2014-2022 (USD Million)
Table 27 Text-to-Speech Market for Enterprise Vertical in US, By Application, 2014-2022 (USD Million)
Table 28 Text-to-Speech Market in Europe, By Country, 2014-2022 (USD Million)
Table 29 Text-to-Speech Market in Europe, By Vertical, 2014-2022 (USD Million)
Table 30 Text-to-Speech Market for Consumer Electronics Vertical in Europe, By Application, 2014-2022 (USD Million)
Table 31 Text-to-Speech Market for Automotive & Transportation Vertical in Europe, By Application, 2014-2022 (USD Million)
Table 32 Text-to-Speech Market for Healthcare Vertical in Europe, By Application, 2014-2022 (USD Million)
Table 33 Text-to-Speech Market for Education Vertical in Europe, By Application, 2014-2022 (USD Thousand)
Table 34 Text-to-Speech Market for Finance Vertical in Europe, By Application, 2014-2022 (USD Million)
Table 35 Text-to-Speech Market for Retail Vertical in Europe, By Application, 2014-2022 (USD Million)
Table 36 Text-to-Speech Market for Enterprise Vertical in Europe, By Application, 2014-2022 (USD Million)
Table 37 Text-to-Speech Market for Other Verticals in Europe, By Application, 2014-2022 (USD Million)
Table 38 Text-to-Speech Market in Asia Pacific, By Country, 2014-2022 (USD Million)
Table 39 Text-to-Speech Market in Asia Pacific, By Vertical, 2014-2022 (USD Million)
Table 40 Text-to-Speech Market for Consumer Electronics Vertical in Asia Pacific, By Application, 2014-2022 (USD Million)
Table 41 Text-to-Speech Market for Automotive & Transportation Vertical in Asia Pacific, By Application, 2014-2022 (USD Million)
Table 42 Text-to-Speech Market for Healthcare Vertical in Asia Pacific, By Application, 2014-2022 (USD Million)
Table 43 Text-to-Speech Market for Education Vertical in Asia Pacific, By Application, 2014-2022 (USD Thousand)
Table 44 Text-to-Speech Market for Finance Vertical in Asia Pacific, By Application, 2014-2022 (USD Million)
Table 45 Text-to-Speech Market for Retail Vertical in Asia Pacific, By Application, 2014-2022 (USD Million)
Table 46 Text-to-Speech Market for Enterprise Vertical in Asia Pacific, By Application, 2014-2022 (USD Million)
Table 47 Text-to-Speech Market for Other Verticals in Asia Pacific, By Application, 2014-2022 (USD Million)
Table 48 Text-to-Speech Market in RoW, By Region, 2014-2022 (USD Million)
Table 49 Text-to-Speech Market in RoW, By Vertical, 2014-2022 (USD Million)
Table 50 Text-to-Speech Market for Consumer Electronics Vertical in RoW, By Application, 2014-2022 (USD Million)
Table 51 Text-to-Speech Market for Automotive & Transportation Vertical in RoW, By Application, 2014-2022 (USD Million)
Table 52 Text-to-Speech Market for Healthcare Vertical in RoW, By Application, 2014-2022 (USD Thousand)
Table 53 Text-to-Speech Market for Education Vertical in RoW, By Application, 2014-2022 (USD Thousand)
Table 54 Text-to-Speech Market for Finance Vertical in RoW, By Application, 2014-2022 (USD Million)
Table 55 Text-to-Speech Market for Retail Vertical in RoW, By Application, 2014-2022 (USD Thousand)
Table 56 Text-to-Speech Market for Enterprise Vertical in RoW, By Application, 2014-2022 (USD Thousand)
Table 57 Text-to-Speech Market for Other Verticals in RoW, By Application, 2014-2022 (USD Thousand)

List of Figures:
Figure 1 Text-to-Speech Market Segmentation
Figure 2 Text-to-Speech Market: Research Design
Figure 3 Research Flow
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Text-to-Speech Market, By Vertical
Figure 7 Text-to-Speech Market, By Region, 2016
Figure 8 Text-to-Speech Market Expected to Grow at A High Rate Between 2017 and 2022
Figure 9 Consumer Electronics Held the Largest Share of the Market for Text-to-Speech in 2016
Figure 10 Healthcare Expected to Hold the Largest Share of the Text-to-Speech Market By 2022
Figure 11 The US Likely to Hold the Largest Share of the Text-to-Speech Market Between 2017 and 2022
Figure 12 Rising Demand for Handheld Devices and Increased Government Spending on Education Drive the Growth of the Text-to-Speech Market
Figure 13 Annual Smartphone Shipment, 2013-2018 (Million Units)
Figure 14 Value Chain Analysis: Text-to-Speech Market (2016)
Figure 15 Overview of Porter’s Five Forces Analysis (2016)
Figure 16 Porter’s Five Forces Analysis (2016): Impact Analysis for the Text-to-Speech Market
Figure 17 High Impact of Threat of New Entrants
Figure 18 Low Impact of Bargaining Power of Suppliers
Figure 19 High Impact of Bargaining Power of Buyers
Figure 20 High Impact of Intensity of Competitive Rivalry
Figure 21 Text-to-Speech Market Segmentation, By Vertical
Figure 22 Text-to-Speech Market for Healthcare Expected to Grow at the Highest Rate Between 2017 and 2022
Figure 23 Smartphones Expected to Hold the Largest Share of the Text-to-Speech Market for Consumer Electronics Between 2017 and 2022
Figure 24 E-Learning Expected to Hold the Largest Share of the Market for Education Vertical Between 2017 and 2022
Figure 25 Text-to-Speech Market Segmentation, By Geography
Figure 26 Americas to Hold the Largest Market Size Between 2016 and 2022
Figure 27 Americas: Text-to-Speech Market Snapshot
Figure 28 Medical Devices Segment Held the Largest Share of the Text-to-Speech Market for the Healthcare Vertical in the Americas (2016)
Figure 29 Market for Navigation Segment Expected to Grow at the Highest CAGR for the Text-to-Speech Market in the Automotive Vertical in the US (2017-2022)
Figure 30 Germany Expected to Grow at the Highest CAGR Between 2017 and 2022 for the Text-to-Speech Market in Europe
Figure 31 E-Learning Segment Held the Largest Share of the Market in 2016 for the Text-to-Speech Market for Education Vertical in Europe
Figure 32 China Expected to Witness the Highest CAGR Between 2016 and 2022 for the Text-to-Speech Market in Asia Pacific
Figure 33 ATM Segment Held the Largest Share of the Text-to-Speech Market for the Finance Vertical in Asia Pacific (2016)
Figure 34 Middle East Region Held the Largest Share of the Text-to-Speech Market in RoW (2016)
Figure 35 Companies Adopted Mergers and Acquisitions, and New Product Launches as Key Growth Strategies Between 2014 and 2016
Figure 36 Dive Chart
Figure 37 Nuance Communication: Company Snapshot
Figure 38 Nuance Communication: Parameters for Product Offering
Figure 39 Nuance Communication: Parameters for Business Strategies
Figure 40 Microsoft Corporation: Company Snapshot
Figure 41 Microsoft Corporation: Parameters for Product Offering
Figure 42 Microsoft Corporation: Parameters for Business Strategies
Figure 43 Sensory Inc.: Parameters for Product Offering
Figure 44 Sensory Inc.: Parameters for Business Strategies
Figure 45 Amazon.Com Inc.: Company Snapshot
Figure 46 Amazon.Com Inc.: Parameters for Product Offering
Figure 47 Amazon.Com Inc.: Parameters for Business Strategies
Figure 48 Neospeech: Parameters for Product Offering
Figure 49 Neospeech: Parameters for Business Strategies
Figure 50 Lumenvox LLC.: Parameters for Product Offerings
Figure 51 Lumenvox LLC.: Parameters for Business Strategies
Figure 52 Acapela Group: Parameters for Product Offering
Figure 53 Acapela Group: Parameters for Business Strategies
Figure 54 Cereproc: Parameters for Product Offering
Figure 55 Cereproc: Parameters for Business Strategies
Figure 56 ReadSpeaker: Parameters for Product Offering
Figure 57 ReadSpeaker: Parameters for Business Strategies
Figure 58 Speech Enabled Software Technologies (SESTEK): Parameters for Product Offering
Figure 59 Speech Enabled Software Technologies (SESTEK): Parameters for Business Strategies
Figure 60 Ispeech, Inc.: Parameters for Product Offerings
Figure 61 Ispeech, Inc.: Parameters for Business Strategies
Figure 62 Textspeak: Parameters for Product Offering
Figure 63 Textspeak: Parameters for Business Strategies
Figure 64 Nextup Technologies, LLC: Parameters for Product Offering
Figure 65 Nextup Technologies, LLC: Parameters for Business Strategies
Figure 66 Nexmo Inc.: Parameters for Product Offering
Figure 67 Nexmo Inc.: Parameters for Business Strategies
Figure 68 Rspeak Technologies: Parameters for Product Offering
Figure 69 Rspeak Technologies: Parameters for Business Strategies
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  • Acapela Group (Belgium)
  • Amazon.Com (US)
  • Appen (Australia)
  • Cepstral (US) Wizzard Software (US)
  • Cereproc (Scotland)
  • Iflytek (China)
  • Innoetics Text-to-Speech Technologies (Greece)
  • Ispeech (US)
  • Kasisto Inc. (US)
  • Lumenvox LLC (US)
  • Microsoft Corporation (US)
  • Neospeech (US)
  • Nexmo (US)
  • Nextup Technologies (US)
  • Nuance Communications (US)
  • Pronexus (Canada)
  • Readspeaker (Netherlands)
  • Rspeak (Netherlands)
  • Rubidium (Israel)
  • SESTEK (Turkey)
  • Sensory Inc. (US)
  • Sunrom Electronics (India)
  • Textspeak (US)
  • Voxygen (London)
  • Welocalize (US)
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