According
to the new research report "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",
the global text-to-speech market was valued at USD 1.30 Billion in 2016 and is
expected to reach USD 3.03 Billion by 2022, at a CAGR of 15.21% between 2017
and 2022. Rising demand for handheld devices and increase in government
spending for the education of differently abled persons are the major factors
driving the demand for the text-to-speech technology.
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https://www.marketsandmarkets.com/pdfdownload.asp?id=2434298
Browse 57 market data tables and 69 figures spread
through 131 pages and in-depth TOC on "Text-to-Speech
Market - Global Forecast to 2022"
Consumer electronics vertical to hold the
largest share of the text-to-speech market
Text-to-speech is widely used in smartphones for navigation
and personal assistant apps. Laptops and televisions also use this technology
to help blind and partially sighted people access the menu with the help of
audible instructions. The consumer electronics vertical is one of the major
application areas of the text-to-speech technology. According to the World
Health Organization (WHO) Disability & Health report published in November
2016, over a billion people—about 15% of the world’s population—have some form
of disability. Smartphones can help this group of people to live more
independently. With text-to-speech, these people can easily communicate, seek
assistance from others, and stay connected to the society.
Americas to hold the major share of the text-to-speech
market during the forecast period
The Americas, which comprises the US, Mexico, Canada, and
Brazil, among others, dominates the text-to-speech market in terms of
geography. The US is expected to be the major contributor to the text-to-speech
market in the Americas between 2017 and 2022. The increased adoption of machine
learning in various end-user industries is driving the growth of the
text-to-speech market in the Americas. The increased medical spending and
government funding for education further contribute to the growth of this
market in the region.
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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).
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