Text-to-Speech Market Growth Opportunities and Competitive Analysis
25 June 2019, The global
text-to-speech market is anticipated to grow at a significant CAGR of 15.92%
during the forecast period. Text-to-speech technology converts written text
into audio content. This is useful in case of converting website content,
mobile apps, online documents, and e-learning. Population with learning
disabilities, vision & language problem can access to this technology
without any difficulty. Hence, text-to-speech technology enables the
differently abled population to minimize the learning obstacles upto a greater
extent.
The market is driven by
increase in demand for handheld devices and rise in government spending towards
machine based learning for differently abled population. Rise in production of
consumer electronics supplements the market demand. Population with learning
disability and difficulty is likely to contribute to the creation of machine
based learning devices. Geriatric population with reading and writing disorders
is quite high. Text-to-speech technology proves very useful for population
under this category.
Get Sample Copy of this Report @
Challenges such as non-compatibility
of devices, digital incompetency during conversion of written content to audio
and low investment by companies, occur in the text-to-speech market. Market is
segmented by vertical into consumer electronics, enterprise, healthcare,
finance, education, automotive & transportation, retail and education.
Retail & education segment is likely to account for a higher share in the
international market.
Market is geographically segmented
into North America, South America, Europe, Asia-Pacific, Middle East and
Africa. North America market dominates the global market scenario and is
estimated to grow at a higher CAGR during the forecast period. The U.S. market
is consistently expanding due to rise in trend of machine learning, innovative
approach for text-to-speech technology and constantly rise in government
initiatives in the medical and education sector.
In addition, strategic collaborations
between key players is highly observed as a driving factor for the market
growth. Asia-Pacific’s market growth is anticipated at a significant pace due
to the higher traction owing to inclination towards innovative learning. The
key players profiled in the text-to-speech market report are Microsoft
Corporation, Nuance Corporation and NeoSpeech.
Browse Related Category Market
Reports @
Comments
Post a Comment