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Global Speech-to-text API Market by Component (Services, Solutions), Deployment mode (On-cloud, On-premises), Organization Size, Application, Vertical - Forecast 2023-2030

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    Report

  • 182 Pages
  • March 2024
  • Region: Global
  • 360iResearch™
  • ID: 5639457
UP TO OFF until Dec 31st 2024
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The Speech-to-text API Market size was estimated at USD 2.09 billion in 2022, USD 2.53 billion in 2023, and is expected to grow at a CAGR of 23.73% to reach USD 11.52 billion by 2030.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Speech-to-text API Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Speech-to-text API Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Speech-to-text API Market, highlighting leading vendors and their innovative profiles. These include Amazon Web Services, Inc., Amberscript Global B.V., Apple Inc., AssemblyAI, Inc., Baidu, Contus, Deepgram, GL Communications Inc., Google LLC by Alphabet Inc., GoVivace Inc., iFLYTEK Co., Ltd., International Business Machines Corporation, Kasisto, Medallia Inc., Meta Platforms, Inc., Microsoft Corporation, OTTER.AI, Rev.com, Inc., SoundHound AI Inc., Speechmatics, Twilio Inc., Vatis Tech, SRL, Verint Systems Inc., Vocapia Research SAS, VoiceBase, Inc., and Vonage America, LLC.

Market Segmentation & Coverage

This research report categorizes the Speech-to-text API Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Component
    • Services
      • Managed Services
      • Professional Services
        • Consulting
        • Deployment & Integration
        • Support & Maintenance
    • Solutions
  • Deployment mode
    • On-cloud
    • On-premises
  • Organization Size
    • Large Enterprises
    • Small & Medium-Sized Enterprises
  • Application
    • Business Process Monitoring
    • Conference Call Analysis
    • Content Transcription
    • Customer Management
    • Fraud Detection & Prevention
    • Quality Management
    • Risk & Compliance Management
    • Subtitle Generation
  • Vertical
    • Banking, Financial Services and Insurance
    • Education
    • Government & Defense
    • Healthcare
    • Media & Entertainment
    • Retail & eCommerce
    • Telecommunications & Information Technology
    • Travel & Hospitality
  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as

  1. What is the market size and forecast of the Speech-to-text API Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Speech-to-text API Market?
  3. What are the technology trends and regulatory frameworks in the Speech-to-text API Market?
  4. What is the market share of the leading vendors in the Speech-to-text API Market?
  5. Which modes and strategic moves are suitable for entering the Speech-to-text API Market?

Please note: For this report, the purchase of an Enterprise license allows up to ten worldwide users of an organization access to the report

Please note: This report can be updated on request. Please contact our Customer Experience team using the Ask a Question widget on our website.

With the purchase of this report at the Multi-user License or greater level, you will have access to one hour with an expert analyst who will help you link key findings in the report to the business issues you're addressing. This will need to be used within three months of purchase.

This report also includes a complimentary Excel file with data from the report for purchasers at the Site License or greater level.

Table of Contents

1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Speech-to-text API Market, by Region
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Growing Need to Provide Understandable and Searchable Transcription of Data
5.1.1.2. Rising Demand for Speech Navigation for Disabled People in Different Platforms
5.1.1.3. Increasing Chatbot Implementation by Businesses
5.1.2. Restraints
5.1.2.1. Lack of Accuracy and High Implementation Costs and Time
5.1.3. Opportunities
5.1.3.1. Technical Advancements and Innovations in Speech-to-Text Solutions
5.1.3.2. Growing Inclination Towards Cloud-Based Deployment Mode and Integration with Application
5.1.4. Challenges
5.1.4.1. Lack of Lingual Knowledge and Low Data Reliability
5.2. Market Segmentation Analysis
5.3. Market Trend Analysis
5.4. Cumulative Impact of COVID-19
5.5. Cumulative Impact of Russia-Ukraine Conflict
5.6. Cumulative Impact of High Inflation
5.7. Porter’s Five Forces Analysis
5.7.1. Threat of New Entrants
5.7.2. Threat of Substitutes
5.7.3. Bargaining Power of Customers
5.7.4. Bargaining Power of Suppliers
5.7.5. Industry Rivalry
5.8. Value Chain & Critical Path Analysis
5.9. Regulatory Framework
5.10. Client Customization
6. Speech-to-text API Market, by Component
6.1. Introduction
6.2. Services
6.3.1. Managed Services
6.3.2. Professional Services
6.3.3.1. Consulting
6.3.3.2. Deployment & Integration
6.3.3.3. Support & Maintenance
6.3. Solutions
7. Speech-to-text API Market, by Deployment mode
7.1. Introduction
7.2. On-cloud
7.3. On-premises
8. Speech-to-text API Market, by Organization Size
8.1. Introduction
8.2. Large Enterprises
8.3. Small & Medium-Sized Enterprises
9. Speech-to-text API Market, by Application
9.1. Introduction
9.2. Business Process Monitoring
9.3. Conference Call Analysis
9.4. Content Transcription
9.5. Customer Management
9.6. Fraud Detection & Prevention
9.7. Quality Management
9.8. Risk & Compliance Management
9.9. Subtitle Generation
10. Speech-to-text API Market, by Vertical
10.1. Introduction
10.2. Banking, Financial Services and Insurance
10.3. Education
10.4. Government & Defense
10.5. Healthcare
10.6. Media & Entertainment
10.7. Retail & eCommerce
10.8. Telecommunications & Information Technology
10.9. Travel & Hospitality
11. Americas Speech-to-text API Market
11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States
12. Asia-Pacific Speech-to-text API Market
12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam
13. Europe, Middle East & Africa Speech-to-text API Market
13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom
14. Competitive Landscape
14.1. FPNV Positioning Matrix
14.2. Market Share Analysis, By Key Player
14.3. Competitive Scenario Analysis, By Key Player
15. Competitive Portfolio
15.1. Key Company Profiles
15.1.1. Amazon Web Services, Inc.
15.1.2. Amberscript Global B.V.
15.1.3. Apple Inc.
15.1.4. AssemblyAI, Inc.
15.1.5. Baidu
15.1.6. Contus
15.1.7. Deepgram
15.1.8. GL Communications Inc.
15.1.9. Google LLC by Alphabet Inc.
15.1.10. GoVivace Inc.
15.1.11. iFLYTEK Co., Ltd.
15.1.12. International Business Machines Corporation
15.1.13. Kasisto
15.1.14. Medallia Inc.
15.1.15. Meta Platforms, Inc.
15.1.16. Microsoft Corporation
15.1.17. OTTER.AI
15.1.18. Rev.com, Inc.
15.1.19. SoundHound AI Inc.
15.1.20. Speechmatics
15.1.21. Twilio Inc.
15.1.22. Vatis Tech, SRL
15.1.23. Verint Systems Inc.
15.1.24. Vocapia Research SAS
15.1.25. VoiceBase, Inc.
15.1.26. Vonage America, LLC
15.2. Key Product Portfolio
16. Appendix
16.1. Discussion Guide
16.2. License & Pricing
List of Figures
FIGURE 1. SPEECH-TO-TEXT API MARKET RESEARCH PROCESS
FIGURE 2. SPEECH-TO-TEXT API MARKET SIZE, 2022 VS 2030
FIGURE 3. SPEECH-TO-TEXT API MARKET SIZE, 2018-2030 (USD MILLION)
FIGURE 4. SPEECH-TO-TEXT API MARKET SIZE, BY REGION, 2022 VS 2030 (%)
FIGURE 5. SPEECH-TO-TEXT API MARKET SIZE, BY REGION, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 6. SPEECH-TO-TEXT API MARKET DYNAMICS
FIGURE 7. SPEECH-TO-TEXT API MARKET SIZE, BY COMPONENT, 2022 VS 2030 (%)
FIGURE 8. SPEECH-TO-TEXT API MARKET SIZE, BY COMPONENT, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 9. SPEECH-TO-TEXT API MARKET SIZE, BY DEPLOYMENT MODE, 2022 VS 2030 (%)
FIGURE 10. SPEECH-TO-TEXT API MARKET SIZE, BY DEPLOYMENT MODE, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 11. SPEECH-TO-TEXT API MARKET SIZE, BY ORGANIZATION SIZE, 2022 VS 2030 (%)
FIGURE 12. SPEECH-TO-TEXT API MARKET SIZE, BY ORGANIZATION SIZE, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 13. SPEECH-TO-TEXT API MARKET SIZE, BY APPLICATION, 2022 VS 2030 (%)
FIGURE 14. SPEECH-TO-TEXT API MARKET SIZE, BY APPLICATION, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 15. SPEECH-TO-TEXT API MARKET SIZE, BY VERTICAL, 2022 VS 2030 (%)
FIGURE 16. SPEECH-TO-TEXT API MARKET SIZE, BY VERTICAL, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 17. AMERICAS SPEECH-TO-TEXT API MARKET SIZE, BY COUNTRY, 2022 VS 2030 (%)
FIGURE 18. AMERICAS SPEECH-TO-TEXT API MARKET SIZE, BY COUNTRY, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 19. UNITED STATES SPEECH-TO-TEXT API MARKET SIZE, BY STATE, 2022 VS 2030 (%)
FIGURE 20. UNITED STATES SPEECH-TO-TEXT API MARKET SIZE, BY STATE, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 21. ASIA-PACIFIC SPEECH-TO-TEXT API MARKET SIZE, BY COUNTRY, 2022 VS 2030 (%)
FIGURE 22. ASIA-PACIFIC SPEECH-TO-TEXT API MARKET SIZE, BY COUNTRY, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 23. EUROPE, MIDDLE EAST & AFRICA SPEECH-TO-TEXT API MARKET SIZE, BY COUNTRY, 2022 VS 2030 (%)
FIGURE 24. EUROPE, MIDDLE EAST & AFRICA SPEECH-TO-TEXT API MARKET SIZE, BY COUNTRY, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 25. SPEECH-TO-TEXT API MARKET, FPNV POSITIONING MATRIX, 2022
FIGURE 26. SPEECH-TO-TEXT API MARKET SHARE, BY KEY PLAYER, 2022

Companies Mentioned

  • Amazon Web Services, Inc.
  • Amberscript Global B.V.
  • Apple Inc.
  • AssemblyAI, Inc.
  • Baidu
  • Contus
  • Deepgram
  • GL Communications Inc.
  • Google LLC by Alphabet Inc.
  • GoVivace Inc.
  • iFLYTEK Co., Ltd.
  • International Business Machines Corporation
  • Kasisto
  • Medallia Inc.
  • Meta Platforms, Inc.
  • Microsoft Corporation
  • OTTER.AI
  • Rev.com, Inc.
  • SoundHound AI Inc.
  • Speechmatics
  • Twilio Inc.
  • Vatis Tech, SRL
  • Verint Systems Inc.
  • Vocapia Research SAS
  • VoiceBase, Inc.
  • Vonage America, LLC

Methodology

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Table Information