Text-to-Speech Market

Text-to-Speech Market Size, Share & Industry Growth Analysis Report by Offering (Software, Service, SaaS), Deployment (On-premises, Cloud-based), Voice (Neural & Custom, Non-Neural), Solution (Accessibility, Voice-based AI), Organization Size, Language, Vertical & Region Global Forecast to 2029

Report Code: SE 5253 Jan, 2024, by marketsandmarkets.com

The global Text-to-Speech market is expected to be valued at USD 4.0 billion in 2024 and is projected to reach USD 7.6 billion by 2029; it is expected to grow at a CAGR of 13.7% from 2024 to 2029. The market is experiencing growth driven by the rising need for AI-based tools, natural language processing, and the widespread adoption of advanced electronic devices. However, challenges surrounding clear pronunciation and voice modification are impeding market advancement. Despite these hurdles, opportunities emerge from the increasing demand for mobile devices, augmented government spending on education for differently-abled students, and the growing population facing diverse learning difficulties. A significant trend in the text-to-speech market involves the expected upsurge in demand fueled by progress in digital content development, the prevalent use of handheld devices, and the expanding reach of internet connectivity.

Text-to-Speech Market

Text-to-Speech Market

Text-to-Speech Market Forecast to 2029

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Text-to-Speech Market Dynamics

Driver: Increased government spending on education of differently-abled students

The growth of the Text-to-Speech market is fueled by a notable driver: the augmented government expenditure on the education of differently-abled students. This trend is contributing to an escalating demand for Text-to-Speech solutions within educational settings. As educational institutions strive to create more inclusive learning environments, Text-to-Speech technology is playing a pivotal role by providing accessible tools for individuals with visual or learning impairments. This facilitates the dissemination of information through spoken text, ultimately enhancing the educational experience for a diverse range of students.

Restraint: Growing privacy, security, and ethical concerns in cloud-based Text-to-Speech

Despite the optimistic growth trajectory of the Text-to-Speech (TTS) market, a noteworthy restraint is arising due to heightened concerns in the realms of privacy, security, and ethics associated with cloud-based TTS applications. As TTS solutions rely increasingly on cloud infrastructure, users and organizations are becoming more cautious about potential risks and vulnerabilities. The concerns span a range of issues, including the fear of data breaches, where unauthorized access to sensitive information could occur, and apprehensions about the potential misuse of personal or confidential data processed by these cloud-based systems. To mitigate these concerns, it is imperative for developers and providers of cloud-based TTS applications to implement robust security measures.

This includes encryption protocols to safeguard data during transmission and storage, rigorous access controls to limit unauthorized entry, and adherence to ethical standards in data usage and handling. Proactive transparency about data practices, compliance with privacy regulations, and continuous improvement of security protocols are essential to reassure users and organizations, fostering trust and ensuring the sustained adoption of cloud-based Text-to-Speech solutions in the market.

Opportunity: Integration of Text-to-Speech in autonomous vehicles

An exciting prospect for the Text-to-Speech (TTS) market lies in the increasing integration of TTS technology into autonomous vehicles. With the automotive industry progressing towards autonomous and connected vehicles, there is a growing demand for sophisticated voice interfaces that can enhance user experience and safety. Text-to-speech systems are becoming integral in providing natural and contextually relevant voice communication within the vehicle environment. This includes delivering navigation prompts, enabling hands-free calling, and facilitating other interactive features. The integration of TTS in autonomous vehicles not only responds to the demand for advanced in-car communication but also positions Text-to-Speech providers at the forefront of contributing to the evolution of smart and user-friendly automotive technologies.

Challenge: Creating a comprehensive acoustic database for Text-to-Speech

A substantial hurdle confronted by the Text-to-Speech (TTS) market is the intricate task of developing a generic acoustic database that can effectively cover the extensive array of language variations. The quest for achieving natural-sounding speech synthesis across diverse linguistic contexts necessitates the creation of comprehensive databases that encompass not only different languages but also various accents, dialects, and regional nuances. This poses a formidable challenge as it demands ongoing efforts to update databases continuously, accommodating the dynamic evolution of language patterns and the ever-expanding global linguistic diversity. The significance of overcoming this challenge cannot be overstated.

The authenticity and naturalness of synthesized speech are directly contingent on the richness and accuracy of the underlying acoustic database. Text-to-speech providers must grapple with the complexities of capturing the subtleties inherent in diverse linguistic expressions to deliver solutions that resonate authentically with users across a spectrum of cultural and linguistic backgrounds. Successfully addressing this challenge not only enhances the quality of Text-to-Speech offerings but also ensures their relevance and effectiveness in a global context, where linguistic diversity is a fundamental aspect of human communication.

Rf-Over-Fiber Market Ecosystem

The Text-to-Speech market is dominated by established and financially sound manufacturers with extensive experience in the industry. These companies have diversified product portfolios, cutting-edge technologies, and strong global sales and marketing networks. Leading players in the market include Microsoft Corporation (US), Google (US), Amazon.com, Inc. (US), IBM (US), and Baidu Inc. (China).

Text-to-Speech Market by Ecosystem

Services by offering is expected to hold the highest market share during the forecast period.

Services holds the largest share in the Text-to-Speech market offering category due to the heightened demand for cloud-based TTS solutions and the shift toward service-oriented models. The versatility and scalability of TTS services enable businesses to access advanced voice synthesis capabilities without the need for substantial infrastructure investments. Cloud-based offerings, in particular, provide a cost-effective and efficient way for organizations to integrate TTS into their applications and products.

The subscription-based nature of TTS services ensures continuous updates, improved customization options, and simplified maintenance, appealing to businesses seeking hassle-free and up-to-date solutions. As the market emphasizes accessibility, flexibility, and seamless integration, TTS services emerge as a pivotal and dominant offering, catering to the evolving needs of a wide range of industries.

Based on deployment, Cloud-based to hold the highest CAGR during the forecast period

Cloud-based deployment is experiencing a high CAGR in the Text-to-Speech market due to its inherent advantages aligning with contemporary business demands. Cloud solutions offer unparalleled scalability, allowing organizations to dynamically manage resources based on fluctuating demands without hefty upfront investments in infrastructure.

The cost-effectiveness of cloud deployment is particularly attractive to businesses seeking efficient and budget-friendly solutions, especially smaller enterprises. Additionally, cloud-based Text-to-Speech services facilitate seamless updates and maintenance, ensuring users consistently access the latest advancements in voice synthesis technology. As the business landscape increasingly prioritizes flexibility, rapid implementation, and resource efficiency, the growth of cloud-based deployment in the Text-to-Speech market reflects its ability to meet these evolving demands and drive widespread adoption.

Large enterprises in Text-to-Speech market to hold the highest market share.

Large enterprises dominate the Text-to-Speech market based on organization size due to their substantial resources, comprehensive infrastructure, and sophisticated technological needs. These organizations often require scalable and feature-rich solutions to meet diverse and complex requirements across various sectors. Large enterprises can invest in and deploy robust Text-to-Speech systems seamlessly, integrating them into their extensive networks and applications.

The need for advanced communication tools, customer engagement platforms, and interactive applications in sectors such as customer service, e-learning, and entertainment drives the demand for high-quality Text-to-Speech solutions. The financial capacity and expansive operational scale of large enterprises position them as key contributors to the adoption of sophisticated and tailored Text-to-Speech technologies, securing their prominence in this market segment.

Based on verticals, the education sector in Text-to-Speech market accounts for highest CAGR

The education sector is experiencing a high CAGR in the Text-to-Speech market due to the increasing recognition of its transformative impact on learning experiences. Text-to-speech technology has become instrumental in addressing diverse learning needs, catering to students with visual impairments, reading difficulties, or those who benefit from auditory reinforcement. The implementation of TTS in educational materials and e-learning platforms enhances accessibility, making content more inclusive for all students. As digital learning gains prominence, educational institutions are leveraging TTS for providing interactive and personalized content delivery. Additionally, the growing awareness of diverse learning styles and the emphasis on inclusive education contribute to the rising adoption of Text-to-Speech solutions, position.

Text-to-Speech market in Asia Pacific region to exhibit highest CAGR during the forecast period

The Asia Pacific region is witnessing the highest CAGR in the Text-to-Speech market, propelled by several factors. The region is undergoing rapid technological advancements and digital transformation, with a burgeoning population of tech-savvy consumers. The increasing adoption of smartphones, rising internet penetration, and a growing demand for voice-enabled applications in diverse industries contribute to the heightened growth. Additionally, the linguistic diversity across Asia Pacific necessitates versatile Text-to-Speech solutions, catering to a wide array of languages and dialects. As businesses and consumers alike in the region recognize the value of voice technology, coupled with the expanding need for accessibility features, the Text-to-Speech market in Asia Pacific is experiencing robust growth, making it a pivotal player in the global landscape.

Text-to-Speech Market by Region

Text-to-Speech Market by Region

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Key Market Players

 The Text-to-Speech companies is dominated by players such as Microsoft Corporation (US), Google (US), Amazon.com, Inc. (US), IBM (US), and Baidu Inc. (China) and others.

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Scope of the Report

Report Metric

Details

Estimated Market Size

USD 4.0 billion in 2024

Projected Market Size

7.6 billion by 2029

Growth Rate

13.7%

Market size available for years

2020-2029

Base year considered

2023

Forecast period

2024-2029

Forecast units

Value (USD Million/Billion)

Segments Covered

By Offering, By Deployment Mode, By Voice Type, By Organization Size, By Language, and By Vertical.

Geographies covered

North America, Europe, Asia Pacific, and Rest of the world (RoW)

Companies covered

The major market players include Microsoft Corporation (US), Google (US), Amazon.com, Inc. (US), IBM (US), and Baidu Inc. (China). (A total of 25 players are profiled)

Text-to-Speech Market Highlights

Segment

Subsegment

By Offering

  • Software
  • Services
    • Software-as-a-Service and Support
    • Implementation & Consulting

By Deployment Mode

  • On-premises
  • Cloud-based

By Voice Type

  • Neural & Custom
  • Non-neural

By Organization Size

  • SMEs
  • Large Enterprise

By Language

  • English
  • Mandarin Chinese
  • Hindi
  • Arabic
  • Spanish
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • RoW

Recent Developments

  • In November 2023, Microsoft has introduced the public preview of Azure AI Speech, a technology enabling users to generate talking avatar videos through text input and develop real-time interactive bots utilizing human images.
  • In January 2023, Microsoft has unveiled VALL-E, an innovative language model approach for text-to-speech synthesis (TTS). This method utilizes audio codec codes as intermediate representations and has the capability to replicate an individual's voice after analyzing a mere three seconds of audio recording.
  • In January 2023, Amazon Polly introduces two additional voices for US English support: Ruth, a new neural female voice, and Stephen, a new neural male voice. This expands the portfolio for this locale to include a total of six female voices and four male voices.
  • In October 2023, IBM has announced the acquisition of Manta Software Inc, a data lineage platform. This strategic move enhances IBM's capabilities across watsonx.ai, watsonx.data, and watsonx. governance, empowering businesses to create products grounded in principles of trust and transparency
  • In March 2022, Microsoft Corp declared the successful finalization of its acquisition of Nuance Communications Inc. a frontrunner in conversational AI and ambient intelligence spanning various industries, including healthcare, financial services, retail, and telecommunications
  • In December 2020, Watson Discovery is an AI-powered intelligent search and text analytics technology that breaks down data silos and finds information hidden deep within corporate databases. The platform employs cutting-edge, market-leading natural language processing solutions to extract relevant business insights from documents, webpages, and large data, reducing research time by up to 75%.

Frequently Asked Questions (FAQs):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 28)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 TEXT-TO-SPEECH MARKET: SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
           1.3.4 CURRENCY CONSIDERED
    1.4 LIMITATIONS 
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
    1.7 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 33)
    2.1 RESEARCH DATA 
           FIGURE 2 TEXT-TO-SPEECH MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY AND PRIMARY RESEARCH
           2.1.2 SECONDARY DATA
                    2.1.2.1 List of key secondary sources
                    2.1.2.2 Key data from secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Breakdown of primaries
                    2.1.3.2 Primary interviews with experts
                    2.1.3.3 List of key primary interview participants
                    2.1.3.4 Key data from primary sources
                    2.1.3.5 Key industry insights
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 3 MARKET SIZE ESTIMATION: RESEARCH FLOW
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: REVENUE OF MARKET PLAYERS
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach to estimate market size using bottom-up analysis (demand side)
                               FIGURE 5 TEXT-TO-SPEECH MARKET: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach to estimate market size using top-down analysis (supply side)
                               FIGURE 6 TEXT-TO-SPEECH MARKET: TOP-DOWN APPROACH
    2.3 DATA TRIANGULATION 
           FIGURE 7 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS 
    2.5 GROWTH FORECAST ASSUMPTIONS 
    2.6 RESEARCH LIMITATIONS 
    2.7 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON TEXT-TO-SPEECH MARKET 
 
3 EXECUTIVE SUMMARY (Page No. - 44)
    FIGURE 8 SERVICES TO ACCOUNT FOR LARGER SHARE OF TEXT-TO-SPEECH MARKET IN 2029
    FIGURE 9 CLOUD-BASED DEPLOYMENT MODE TO DOMINATE TEXT-TO-SPEECH MARKET IN 2029
    FIGURE 10 NEURAL & CUSTOM VOICE TYPE TO HOLD MAJOR SHARE OF TEXT-TO-SPEECH MARKET IN 2029
    FIGURE 11 LARGE ENTERPRISES TO LEAD TEXT-TO-SPEECH MARKET IN 2029
    FIGURE 12 ENGLISH LANGUAGE TO HOLD LARGEST SHARE OF TEXT-TO-SPEECH MARKET IN 2029
    FIGURE 13 CONSUMER ELECTRONICS VERTICAL TO LEAD TEXT-TO-SPEECH MARKET IN 2029
    FIGURE 14 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN TEXT-TO-SPEECH MARKET DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 49)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN TEXT-TO-SPEECH MARKET 
           FIGURE 15 INCREASING ADOPTION OF AI AND ML SOLUTIONS IN DIFFERENT VERTICALS TO PROVIDE LUCRATIVE OPPORTUNITIES FOR TEXT-TO-SPEECH MARKET BETWEEN 2024 AND 2029
    4.2 TEXT-TO-SPEECH MARKET, BY LANGUAGE 
           FIGURE 16 ENGLISH LANGUAGE TO LEAD IN TECT-TO-SPEECH MARKET DURING FORECAST PERIOD
    4.3 TEXT-TO-SPEECH MARKET, BY VERTICAL 
           FIGURE 17 CONSUMER ELECTRONICS VERTICAL TO HOLD LARGEST SHARE IN TEXT-TO-SPEECH MARKET IN 2029
    4.4 TEXT-TO-SPEECH MARKET IN ASIA PACIFIC, BY VERTICAL AND COUNTRY 
           FIGURE 18 CONSUMER ELECTRONICS AND CHINA TO HOLD LARGEST SHARES OF TEXT-TO-SPEECH MARKET IN ASIA PACIFIC IN 2024
    4.5 TEXT-TO-SPEECH MARKET, BY REGION 
           FIGURE 19 INDIA TO RECORD HIGHEST CAGR IN GLOBAL TEXT-TO-SPEECH MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 52)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 20 TEXT-TO-SPEECH MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    FIGURE 21 TEXT-TO-SPEECH MARKET: IMPACT ANALYSIS OF DRIVERS
                    5.2.1.1 Rising demand for Interactive Voice Response (IVR) systems
                    5.2.1.2 Increasing government initiatives pertaining to education of differently abled students
                    5.2.1.3 Growing dependence of elderly population on technology
                               FIGURE 22 POPULATION AGED 60 YEARS OR ABOVE, 1980–2050
                    5.2.1.4 Increasing number of people with different learning disabilities
           5.2.2 RESTRAINTS
                    FIGURE 23 TEXT-TO-SPEECH MARKET: IMPACT ANALYSIS OF RESTRAINTS
                    5.2.2.1 Complexity of generating correct prosody and pronunciation of naturally occurring speech
                    5.2.2.2 Privacy and security concerns associated with cloud-based text-to-speech technology
           5.2.3 OPPORTUNITIES
                    FIGURE 24 TEXT-TO-SPEECH MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
                    5.2.3.1 Integration of speech recognition technology with robotics
                    5.2.3.2 Growing inclination toward cloud-based deployment mode
                    5.2.3.3 Integration of text-to-speech technology into autonomous vehicles
           5.2.4 CHALLENGES
                    FIGURE 25 TEXT-TO-SPEECH MARKET: IMPACT ANALYSIS OF CHALLENGES
                    5.2.4.1 Creation of generic acoustic database to cover language variations
                    5.2.4.2 Growing cybercrime, data privacy, and ethical considerations
    5.3 VALUE CHAIN ANALYSIS 
           FIGURE 26 TEXT-TO-SPEECH MARKET: VALUE CHAIN ANALYSIS
    5.4 ECOSYSTEM/MARKET MAP 
           FIGURE 27 ECOSYSTEM ANALYSIS
           FIGURE 28 ROLE OF PARTICIPANTS IN ECOSYSTEM
    5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
           FIGURE 29 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
    5.6 PRICING ANALYSIS 
           5.6.1 AVERAGE SELLING PRICE TREND OF TEXT-TO-SPEECH SERVICES OFFERED BY KEY PLAYERS
                    FIGURE 30 AVERAGE SELLING PRICE TREND OF TEXT-TO-SPEECH SERVICES OFFERED BY KEY PLAYERS, 2023
                    TABLE 1 AVERAGE SELLING PRICE TREND OF TEXT-TO-SPEECH SERVICES OFFERED BY KEY PLAYERS (USD/MONTH)
           5.6.2 AVERAGE SELLING PRICE TREND OF TEXT-TO-SPEECH SERVICES, BY VERTICAL
                    FIGURE 31 AVERAGE SELLING PRICE TREND OF TEXT-TO-SPEECH SERVICES, BY VERTICAL, 2020–2023 (USD/MILLION CHARACTERS)
           5.6.3 AVERAGE SELLING PRICE TREND OF TEXT-TO-SPEECH SERVICES, BY REGION
                    FIGURE 32 AVERAGE SELLING PRICE TREND OF TEXT-TO-SPEECH SERVICES, BY REGION (USD/MILLION CHARACTERS)
    5.7 TECHNOLOGY ANALYSIS 
           5.7.1 COMPLIMENTARY TECHNOLOGIES
                    5.7.1.1 AI-driven text-to-speech software
                    5.7.1.2 Multilingual text-to-speech systems
                    5.7.1.3 Neural text-to-speech technology
    5.8 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 2 TEXT-TO-SPEECH MARKET: PORTER’S FIVE FORCES ANALYSIS
           FIGURE 33 TEXT-TO-SPEECH MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.8.1 THREAT OF NEW ENTRANTS
           5.8.2 THREAT OF SUBSTITUTES
           5.8.3 BARGAINING POWER OF SUPPLIERS
           5.8.4 BARGAINING POWER OF BUYERS
           5.8.5 INTENSITY OF COMPETITIVE RIVALRY
    5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 34 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS
                    TABLE 3 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS (%)
           5.9.2 BUYING CRITERIA
                    FIGURE 35 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
                    TABLE 4 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
    5.10 CASE STUDY ANALYSIS 
           5.10.1 YAPI KREDI INTRODUCED VOICE-ENABLED ATMS FOR PEOPLE WITH DISABILITIES UTILIZING SESTEK’S TECHNOLOGY
           5.10.2 NEW MEXICO STATE TRANSFORMED TRAINING MODULES WITH COLOSSYAN’S AI-POWERED PLATFORM
           5.10.3 CYBER INC. USED SYNTHESIA TO SCALE TRAINING VIDEOS AND EXPAND PRESENCE TO NEW MARKETS
           5.10.4 GATWICK AIRPORT ENHANCED CUSTOMER SERVICE WITH CEREPROC'S TTS SYSTEM
           5.10.5 BRACKEN IMPROVED E-LEARNING PLATFORM BY DEPLOYING NEOSPEECH'S TEXT-TO-SPEECH SOLUTION
    5.11 TRADE ANALYSIS 
           5.11.1 IMPORT SCENARIO
                    FIGURE 36 IMPORT DATA, BY COUNTRY, 2018–2022 (USD MILLION)
           5.11.2 EXPORT SCENARIO
                    FIGURE 37 EXPORT DATA, BY COUNTRY, 2018–2022 (USD MILLION)
    5.12 PATENT ANALYSIS 
           TABLE 5 TEXT-TO-SPEECH MARKET: LIST OF PATENTS, 2019–2023
           FIGURE 38 NUMBER OF PATENTS GRANTED WORLDWIDE PERTAINING TO TEXT-TO-SPEECH TECHNOLOGY, 2013–2023
           TABLE 6 TOP 20 PATENT OWNERS IN TEXT-TO-SPEECH MARKET, 2013–2023
           FIGURE 39 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS RELATED TO TEXT-TO-SPEECH TECHNOLOGY, 2013–2023
    5.13 KEY CONFERENCES AND EVENTS 
           TABLE 7 TEXT-TO-SPEECH MARKET: LIST OF CONFERENCES AND EVENTS, 2023–2024
    5.14 TARIFF, STANDARDS, AND REGULATORY LANDSCAPE 
           5.14.1 TARIFF
                    TABLE 8 MFN TARIFF FOR HS CODE 851989-COMPLIANT PRODUCTS EXPORTED BY US
                    TABLE 9 MFN TARIFF FOR HS CODE 851989-COMPLIANT PRODUCTS EXPORTED BY CHINA
           5.14.2 REGULATIONS
                    5.14.2.1 Regulatory bodies, government agencies, and other organizations
                               TABLE 10 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                               TABLE 11 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                               TABLE 12 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                               TABLE 13 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    5.14.2.2 Regulations
                               5.14.2.2.1 Americans with Disabilities Act
                               5.14.2.2.2 Office of Communications
                               5.14.2.2.3 Polish Civil Code
                               5.14.2.2.4 Federal Communications Commission
                               5.14.2.2.5 General Data Protection Regulation
           5.14.3 STANDARDS
                    TABLE 14 TEXT-TO-SPEECH: CODES AND STANDARDS
 
6 SOLUTIONS OFFERED IN TEXT-TO-SPEECH MARKET (Page No. - 86)
    6.1 INTRODUCTION 
    6.2 ACCESSIBILITY SOLUTIONS 
    6.3 VOICE-BASED AI 
 
7 TEXT-TO-SPEECH MARKET, BY OFFERING (Page No. - 88)
    7.1 INTRODUCTION 
           FIGURE 40 SERVICES TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
           TABLE 15 TEXT-TO-SPEECH MARKET, BY OFFERING, 2020–2023 (USD MILLION)
           TABLE 16 TEXT-TO-SPEECH MARKET, BY OFFERING, 2024–2029 (USD MILLION)
    7.2 SOFTWARE 
           7.2.1 ADVANCEMENTS IN NLP ALGORITHMS AND MULTILINGUAL CAPABILITIES OF TEXT-TO-SPEECH PRODUCTS TO FUEL MARKET GROWTH
    7.3 SERVICES 
           TABLE 17 SERVICES: TEXT-TO-SPEECH MARKET, BY TYPE, 2020–2023 (USD MILLION)
           TABLE 18 SERVICES: TEXT-TO-SPEECH MARKET, BY TYPE, 2024–2029 (USD MILLION)
           7.3.1 SOFTWARE-AS-A-SERVICE (SAAS)
                    7.3.1.1 Scalability and adaptability benefits offered by SaaS to drive market
           7.3.2 SUPPORT, IMPLEMENTATION & CONSULTING
                    7.3.2.1 Technicalities involved in implementing text-to-speech to boost demand
 
8 TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE (Page No. - 92)
    8.1 INTRODUCTION 
           FIGURE 41 CLOUD-BASED DEPLOYMENT MODE TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
           TABLE 19 TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2020–2023 (USD MILLION)
           TABLE 20 TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2024–2029 (USD MILLION)
    8.2 ON-PREMISES 
           8.2.1 INCREASING DEMAND FOR DATA PRIVACY AND SECURITY IN DATA-SENSITIVE ORGANIZATIONS TO FOSTER SEGMENTAL GROWTH
                    TABLE 21 ON-PREMISES: TEXT-TO-SPEECH MARKET, BY ORGANIZATION SIZE, 2020–2023 (USD MILLION)
                    TABLE 22 ON-PREMISES: TEXT-TO-SPEECH MARKET, BY ORGANIZATION SIZE, 2024–2029 (USD MILLION)
                    TABLE 23 ON-PREMISES: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
                    TABLE 24 ON-PREMISES: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
                    TABLE 25 ON-PREMISES: TEXT-TO-SPEECH MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2023 (USD MILLION)
                    TABLE 26 ON-PREMISES: TEXT-TO-SPEECH MARKET IN NORTH AMERICA, BY COUNTRY, 2024–2029 (USD MILLION)
                    TABLE 27 ON-PREMISES: TEXT-TO-SPEECH MARKET IN EUROPE, BY COUNTRY, 2020–2023 (USD MILLION)
                    TABLE 28 ON-PREMISES: TEXT-TO-SPEECH MARKET IN EUROPE, BY COUNTRY, 2024–2029 (USD MILLION)
                    TABLE 29 ON-PREMISES: TEXT-TO-SPEECH MARKET IN ASIA PACIFIC, BY COUNTRY, 2020–2023 (USD MILLION)
                    TABLE 30 ON-PREMISES: TEXT-TO-SPEECH MARKET IN ASIA PACIFIC, BY COUNTRY, 2024–2029 (USD MILLION)
                    TABLE 31 ON-PREMISES: TEXT-TO-SPEECH MARKET IN ROW, BY COUNTRY, 2020–2023 (USD MILLION)
                    TABLE 32 ON-PREMISES: TEXT-TO-SPEECH MARKET IN ROW, BY COUNTRY, 2024–2029 (USD MILLION)
    8.3 CLOUD-BASED 
           8.3.1 RISING USE OF CLOUD-BASED AND AI-DRIVEN APPLICATIONS TO CONTRIBUTE TO SEGMENTAL GROWTH
                    TABLE 33 CLOUD-BASED: TEXT-TO-SPEECH MARKET, BY ORGANIZATION SIZE, 2020–2023 (USD MILLION)
                    TABLE 34 CLOUD-BASED: TEXT-TO-SPEECH MARKET, BY ORGANIZATION SIZE, 2024–2029 (USD MILLION)
                    TABLE 35 CLOUD-BASED: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
                    TABLE 36 CLOUD-BASED: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
                    TABLE 37 CLOUD-BASED: TEXT-TO-SPEECH MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2023 (USD MILLION)
                    TABLE 38 CLOUD-BASED: TEXT-TO-SPEECH MARKET IN NORTH AMERICA, BY COUNTRY, 2024–2029 (USD MILLION)
                    TABLE 39 CLOUD-BASED: TEXT-TO-SPEECH MARKET IN EUROPE, BY COUNTRY, 2020–2023 (USD MILLION)
                    TABLE 40 CLOUD-BASED: TEXT-TO-SPEECH MARKET IN EUROPE, BY COUNTRY, 2024–2029 (USD MILLION)
                    TABLE 41 CLOUD-BASED: TEXT-TO-SPEECH MARKET IN ASIA PACIFIC, BY COUNTRY, 2020–2023 (USD MILLION)
                    TABLE 42 CLOUD-BASED: TEXT-TO-SPEECH MARKET IN ASIA PACIFIC, BY COUNTRY, 2024–2029 (USD MILLION)
                    TABLE 43 CLOUD-BASED: TEXT-TO-SPEECH MARKET IN ROW, BY COUNTRY, 2020–2023 (USD MILLION)
                    TABLE 44 CLOUD-BASED: TEXT-TO-SPEECH MARKET IN ROW, BY COUNTRY, 2024–2029 (USD MILLION)
 
9 TEXT-TO-SPEECH MARKET, BY VOICE TYPE (Page No. - 102)
    9.1 INTRODUCTION 
           FIGURE 42 NEURAL & CUSTOM VOICE TYPE TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
           TABLE 45 TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2020–2023 (USD MILLION)
           TABLE 46 TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2024–2029 (USD MILLION)
    9.2 NEURAL & CUSTOM 
           9.2.1 ABILITY TO OFFER UNIQUE CUSTOM VOICE PERSONAS AND LIFELIKE SPEECH SYNTHESIS TO DRIVE MARKET
                    TABLE 47 NEURAL & CUSTOM: TEXT-TO-SPEECH MARKET, BY LANGUAGE, 2020–2023 (USD MILLION)
                    TABLE 48 NEURAL & CUSTOM: TEXT-TO-SPEECH MARKET, BY LANGUAGE, 2024–2029 (USD MILLION)
    9.3 NON-NEURAL 
           9.3.1 SWIFT RESPONSES AND REAL-TIME TEXT-TO-SPEECH CONVERSIONS TO PROPEL SEGMENTAL GROWTH
                    TABLE 49 NON-NEURAL: TEXT-TO-SPEECH MARKET, BY LANGUAGE, 2020–2023 (USD MILLION)
                    TABLE 50 NON-NEURAL: TEXT-TO-SPEECH MARKET, BY LANGUAGE, 2024–2029 (USD MILLION)
 
10 TEXT-TO-SPEECH MARKET, BY ORGANIZATION SIZE (Page No. - 107)
     10.1 INTRODUCTION 
             FIGURE 43 SMES TO RECORD HIGHER CAGR DURING FORECAST PERIOD
             TABLE 51 TEXT-TO-SPEECH MARKET, BY ORGANIZATION SIZE, 2020–2023 (USD MILLION)
             TABLE 52 TEXT-TO-SPEECH MARKET, BY ORGANIZATION SIZE, 2024–2029 (USD MILLION)
     10.2 SMES 
             10.2.1 NEED TO BOOST ONLINE PRESENCE BY CREATING ENGAGING CONTENT FOR DIGITAL PLATFORMS TO DRIVE DEMAND
                        TABLE 53 SMES: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2020–2023 (USD MILLION)
                        TABLE 54 SMES: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2024–2029 (USD MILLION)
     10.3 LARGE ENTERPRISES 
             10.3.1 NEED FOR MULTILINGUAL SUPPORT FOR CONSISTENT COMMUNICATION BETWEEN EMPLOYEES FROM DIVERSE BACKGROUNDS TO FUEL MARKET GROWTH
                        TABLE 55 LARGE ENTERPRISES: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2020–2023 (USD MILLION)
                        TABLE 56 LARGE ENTERPRISES: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2024–2029 (USD MILLION)
 
11 TEXT-TO-SPEECH MARKET, BY LANGUAGE (Page No. - 111)
     11.1 INTRODUCTION 
             FIGURE 44 SPANISH LANGUAGE TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
             TABLE 57 TEXT-TO-SPEECH MARKET, BY LANGUAGE, 2020–2023 (USD MILLION)
             TABLE 58 TEXT-TO-SPEECH MARKET, BY LANGUAGE, 2024–2029 (USD MILLION)
     11.2 ENGLISH 
             11.2.1 EASE OF LEARNING ENGLISH AND GLOBAL APPLICATIONS TO DRIVE SEGMENTAL GROWTH
                        TABLE 59 ENGLISH: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2020–2023 (USD MILLION)
                        TABLE 60 ENGLISH: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2024–2029 (USD MILLION)
     11.3 MANDARIN CHINESE 
             11.3.1 INCREASING DEMAND FOR ADVANCED TECHNOLOGIES AND NATURAL LANGUAGE PROCESSING IN CHINA TO FUEL SEGMENTAL GROWTH
                        TABLE 61 MANDARIN CHINESE: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2020–2023 (USD MILLION)
                        TABLE 62 MANDARIN CHINESE: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2024–2029 (USD MILLION)
     11.4 HINDI 
             11.4.1 RISING USE OF SMARTPHONES AND INTERNET PENETRATION IN INDIA TO BOOST SEGMENTAL GROWTH
                        TABLE 63 HINDI: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2020–2023 (USD MILLION)
                        TABLE 64 HINDI: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2024–2029 (USD MILLION)
     11.5 ARABIC 
             11.5.1 RAPID DIGITAL TRANSFORMATION ACROSS ARABIC-SPEAKING REGIONS TO PROPEL SEGMENTAL GROWTH
                        TABLE 65 ARABIC: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2020–2023 (USD MILLION)
                        TABLE 66 ARABIC: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2024–2029 (USD MILLION)
     11.6 SPANISH 
             11.6.1 INCREASING POPULATION AND ECONOMIC SUCCESS IN SPANISH-SPEAKING COUNTRIES TO CONTRIBUTE TO SEGMENTAL GROWTH
                        TABLE 67 SPANISH: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2020–2023 (USD MILLION)
                        TABLE 68 SPANISH: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2024–2029 (USD MILLION)
     11.7 OTHER LANGUAGES 
             TABLE 69 OTHER LANGUAGES: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2020–2023 (USD MILLION)
             TABLE 70 OTHER LANGUAGES: TEXT-TO-SPEECH MARKET, BY VOICE TYPE, 2024–2029 (USD MILLION)
 
12 TEXT-TO-SPEECH MARKET, BY VERTICAL (Page No. - 120)
     12.1 INTRODUCTION 
             FIGURE 45 CONSUMER ELECTRONICS VERTICAL TO HOLD LARGEST MARKET SHARE IN 2029
             TABLE 71 TEXT-TO-SPEECH MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
             TABLE 72 TEXT-TO-SPEECH MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
     12.2 CONSUMER ELECTRONICS 
             12.2.1 NEED FOR MORE INTUITIVE AND USER-FRIENDLY INTERFACES TO DRIVE MARKET
                        TABLE 73 CONSUMER ELECTRONICS: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 74 CONSUMER ELECTRONICS: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
     12.3 AUTOMOTIVE & TRANSPORTATION 
             12.3.1 NEED FOR SMARTER, VOICE-ACTIVATED VEHICLES TO ENHANCE DRIVER SAFETY AND OVERALL EXPERIENCE TO FUEL MARKET GROWTH
                        TABLE 75 AUTOMOTIVE & TRANSPORTATION: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 76 AUTOMOTIVE & TRANSPORTATION: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
     12.4 HEALTHCARE 
             12.4.1 FOCUS ON PROVIDING PATIENT-CENTRIC HEALTHCARE EXPERIENCE AND STREAMLINING WORKFLOW AT HOSPITALS TO BOOST MARKET GROWTH
                        TABLE 77 HEALTHCARE: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 78 HEALTHCARE: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
     12.5 EDUCATION 
             12.5.1 SUBSTANTIAL BENEFITS FOR LEARNERS WITH VISUAL IMPAIRMENT AND LANGUAGE CHALLENGES TO DRIVE MARKET
                        TABLE 79 EDUCATION: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 80 EDUCATION: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
     12.6 BFSI 
             12.6.1 PERSONALIZED AND HANDS-FREE CUSTOMER EXPERIENCE AND FRAUD DETECTION FEATURES TO CONTRIBUTE TO MARKET GROWTH
                        TABLE 81 BFSI: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 82 BFSI: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
     12.7 RETAIL 
             12.7.1 PERSONALIZED ONLINE SHOPPING EXPERIENCE LEADING TO INCREASED CUSTOMER SATISFACTION TO AUGMENT MARKET GROWTH
                        TABLE 83 RETAIL: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 84 RETAIL: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
     12.8 ENTERPRISES 
             12.8.1 IMPROVED BUSINESS PERFORMANCE AND EFFECTIVENESS IN EMERGENCY ALERT SYSTEMS TO PROPEL MARKET
                        TABLE 85 ENTERPRISES: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 86 ENTERPRISES: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
     12.9 HOSPITALITY 
             12.9.1 RISING IMPLEMENTATION OF VOICE-BASED SEARCH IN ONLINE PORTALS TO ENHANCE TRAVEL MARKETING TO DRIVE MARKET
                        TABLE 87 HOSPITALITY: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 88 HOSPITALITY: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
     12.1 OTHER VERTICALS 
             TABLE 89 OTHER VERTICALS: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
             TABLE 90 OTHER VERTICALS: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
 
13 TEXT-TO-SPEECH MARKET, BY REGION (Page No. - 131)
     13.1 INTRODUCTION 
             FIGURE 46 ASIA PACIFIC TO RECORD HIGHEST CAGR IN TEXT-TO-SPEECH MARKET DURING FORECAST PERIOD
             TABLE 91 TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
             TABLE 92 TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
     13.2 NORTH AMERICA 
             FIGURE 47 NORTH AMERICA: TEXT-TO-SPEECH MARKET SNAPSHOT
             TABLE 93 NORTH AMERICA: TEXT-TO-SPEECH MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
             TABLE 94 NORTH AMERICA: TEXT-TO-SPEECH MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             TABLE 95 NORTH AMERICA: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2020–2023 (USD MILLION)
             TABLE 96 NORTH AMERICA: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2024–2029 (USD MILLION)
             TABLE 97 NORTH AMERICA: TEXT-TO-SPEECH MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
             TABLE 98 NORTH AMERICA: TEXT-TO-SPEECH MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
             13.2.1 US
                        13.2.1.1 Increasing adoption of text-to-speech and voice recognition technologies by major corporations to fuel market growth
             13.2.2 CANADA
                        13.2.2.1 Commitment to providing accessible multilingual services across different sectors to drive market
             13.2.3 MEXICO
                        13.2.3.1 Integration of text-to-speech technology into navigation and in-car entertainment systems to propel market
             13.2.4 IMPACT OF RECESSION ON TEXT-TO-SPEECH MARKET IN NORTH AMERICA
     13.3 EUROPE 
             FIGURE 48 EUROPE: TEXT-TO-SPEECH MARKET SNAPSHOT
             TABLE 99 EUROPE: TEXT-TO-SPEECH MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
             TABLE 100 EUROPE: TEXT-TO-SPEECH MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             TABLE 101 EUROPE: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2020–2023 (USD MILLION)
             TABLE 102 EUROPE: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2024–2029 (USD MILLION)
             TABLE 103 EUROPE: TEXT-TO-SPEECH MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
             TABLE 104 EUROPE: TEXT-TO-SPEECH MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
             13.3.1 GERMANY
                        13.3.1.1 Growing demand for natural and context-aware voice interactions to fuel market growth
             13.3.2 UK
                        13.3.2.1 Embracing digital economy and innovative technologies backed by government initiatives to drive market
             13.3.3 ITALY
                        13.3.3.1 Rising popularity of virtual assistants and navigation systems to foster market growth
             13.3.4 FRANCE
                        13.3.4.1 Surge in initiatives promoting digital transformation to boost market growth
             13.3.5 SPAIN
                        13.3.5.1 Rising integration of text-to-speech solutions with smart devices and virtual assistants to fuel market growth
             13.3.6 REST OF EUROPE
             13.3.7 IMPACT OF RECESSION ON TEXT-TO-SPEECH MARKET IN EUROPE
     13.4 ASIA PACIFIC 
             FIGURE 49 ASIA PACIFIC: TEXT-TO-SPEECH MARKET SNAPSHOT
             TABLE 105 ASIA PACIFIC: TEXT-TO-SPEECH MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
             TABLE 106 ASIA PACIFIC: TEXT-TO-SPEECH MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             TABLE 107 ASIA PACIFIC: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2020–2023 (USD MILLION)
             TABLE 108 ASIA PACIFIC: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2024–2029 (USD MILLION)
             TABLE 109 ASIA PACIFIC: TEXT-TO-SPEECH MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
             TABLE 110 ASIA PACIFIC: TEXT-TO-SPEECH MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
             13.4.1 CHINA
                        13.4.1.1 Booming digital landscape and population growth to drive market
             13.4.2 JAPAN
                        13.4.2.1 Rising adoption of text-to-speech technology to enhance user interfaces and create immersive experiences to contribute to market growth
             13.4.3 SOUTH KOREA
                        13.4.3.1 Integration of text-to-speech technology with consumer electronics to foster market growth
             13.4.4 INDIA
                        13.4.4.1 Higher linguistic diversity and rapid digital transformation to boost market growth
             13.4.5 REST OF ASIA PACIFIC
             13.4.6 IMPACT OF RECESSION ON TEXT-TO-SPEECH MARKET IN ASIA PACIFIC
     13.5 ROW 
             TABLE 111 ROW: TEXT-TO-SPEECH MARKET, BY REGION, 2020–2023 (USD MILLION)
             TABLE 112 ROW: TEXT-TO-SPEECH MARKET, BY REGION, 2024–2029 (USD MILLION)
             TABLE 113 ROW: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2020–2023 (USD MILLION)
             TABLE 114 ROW: TEXT-TO-SPEECH MARKET, BY DEPLOYMENT MODE, 2024–2029 (USD MILLION)
             TABLE 115 ROW: TEXT-TO-SPEECH MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
             TABLE 116 ROW: TEXT-TO-SPEECH MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
             13.5.1 SOUTH AMERICA
                        13.5.1.1 Growing demand from consumer electronics industry and enterprises to support market growth
             13.5.2 MIDDLE EAST & AFRICA
                        13.5.2.1 Rising demand for digital accessibility and Arabic language support in text-to-speech solutions to drive market
             13.5.3 IMPACT OF RECESSION ON TEXT-TO-SPEECH MARKET IN ROW
 
14 COMPETITIVE LANDSCAPE (Page No. - 154)
     14.1 OVERVIEW 
     14.2 STRATEGIES ADOPTED BY KEY PLAYERS 
             TABLE 117 TEXT-TO-SPEECH MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2020–2023
             14.2.1 PRODUCT/SERVICE PORTFOLIO
             14.2.2 REGIONAL FOCUS
             14.2.3 ORGANIC/INORGANIC GROWTH STRATEGIES
     14.3 MARKET SHARE ANALYSIS 
             FIGURE 50 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2023
             TABLE 118 TEXT-TO-SPEECH MARKET SHARE ANALYSIS, 2023
     14.4 FIVE-YEAR COMPANY REVENUE ANALYSIS 
             FIGURE 51 REVENUE ANALYSIS OF KEY PLAYERS, 2018–2022
     14.5 COMPANY EVALUATION MATRIX 
             14.5.1 STARS
             14.5.2 EMERGING LEADERS
             14.5.3 PERVASIVE PLAYERS
             14.5.4 PARTICIPANTS
                        FIGURE 52 TEXT-TO-SPEECH MARKET: COMPANY EVALUATION MATRIX, 2023
             14.5.5 COMPANY FOOTPRINT
                        TABLE 119 COMPANY FOOTPRINT, BY OFFERING
                        TABLE 120 COMPANY FOOTPRINT, BY DEPLOYMENT MODE
                        TABLE 121 COMPANY FOOTPRINT, BY VERTICAL
                        TABLE 122 COMPANY FOOTPRINT, BY REGION
                        TABLE 123 OVERALL COMPANY FOOTPRINT
     14.6 START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX 
             14.6.1 PROGRESSIVE COMPANIES
             14.6.2 RESPONSIVE COMPANIES
             14.6.3 DYNAMIC COMPANIES
             14.6.4 STARTING BLOCKS
                        FIGURE 53 TEXT-TO-SPEECH MARKET: START-UPS/SMES EVALUATION MATRIX, 2023
             14.6.5 COMPETITIVE BENCHMARKING
                        TABLE 124 TEXT-TO-SPEECH MARKET: LIST OF KEY START-UPS/SMES
                        TABLE 125 START-UPS/SMES FOOTPRINT, BY OFFERING
                        TABLE 126 START-UPS/SMES FOOTPRINT, BY DEPLOYMENT MODE
                        TABLE 127 START-UPS/SMES FOOTPRINT, BY VERTICAL
                        TABLE 128 START-UPS/SMES FOOTPRINT, BY REGION
     14.7 COMPETITIVE SCENARIOS AND TRENDS 
             14.7.1 PRODUCT LAUNCHES
                        TABLE 129 TEXT-TO-SPEECH MARKET: PRODUCT LAUNCHES, 2019–2023
             14.7.2 DEALS
                        TABLE 130 TEXT-TO-SPEECH MARKET: DEALS, 2020–2023
 
15 COMPANY PROFILES (Page No. - 173)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*  
     15.1 INTRODUCTION 
     15.2 KEY PLAYERS 
             15.2.1 IBM
                        TABLE 131 IBM: BUSINESS OVERVIEW
                        FIGURE 54 IBM: COMPANY SNAPSHOT
                        TABLE 132 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 133 IBM: PRODUCT LAUNCHES
                        TABLE 134 IBM: DEALS
             15.2.2 MICROSOFT
                        TABLE 135 MICROSOFT: BUSINESS OVERVIEW
                        FIGURE 55 MICROSOFT: COMPANY SNAPSHOT
                        TABLE 136 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 137 MICROSOFT: PRODUCT LAUNCHES
                        TABLE 138 MICROSOFT: DEALS
             15.2.3 AMAZON.COM, INC.
                        TABLE 139 AMAZON.COM, INC.: BUSINESS OVERVIEW
                        FIGURE 56 AMAZON.COM, INC.: COMPANY SNAPSHOT
                        TABLE 140 AMAZON.COM, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 141 AMAZON.COM, INC.: PRODUCT LAUNCHES
             15.2.4 GOOGLE
                        TABLE 142 GOOGLE: BUSINESS OVERVIEW
                        FIGURE 57 GOOGLE: COMPANY SNAPSHOT
                        TABLE 143 GOOGLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 144 GOOGLE: PRODUCT LAUNCHES
             15.2.5 BAIDU, INC.
                        TABLE 145 BAIDU, INC.: BUSINESS OVERVIEW
                        FIGURE 58 BAIDU, INC.: COMPANY SNAPSHOT
                        TABLE 146 BAIDU, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 147 BAIDU, INC.: PRODUCT LAUNCHES
             15.2.6 CEREPROC LTD.
                        TABLE 148 CEREPROC LTD.: BUSINESS OVERVIEW
                        TABLE 149 CEREPROC LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 150 CEREPROC LTD.: PRODUCT LAUNCHES
                        TABLE 151 CEREPROC LTD.: DEALS
             15.2.7 SENSORY INC.
                        TABLE 152 SENSORY INC.: BUSINESS OVERVIEW
                        TABLE 153 SENSORY INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 154 SENSORY INC.: PRODUCT LAUNCHES
                        TABLE 155 SENSORY INC.: DEALS
             15.2.8 IFLYTEK CORPORATION
                        TABLE 156 IFLYTEK CORPORATION: BUSINESS OVERVIEW
                        FIGURE 59 IFLYTEK CORPORATION: COMPANY SNAPSHOT
                        TABLE 157 IFLYTEK CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 158 IFLYTEK CORPORATION: PRODUCT LAUNCHES
             15.2.9 READSPEAKER B.V.
                        TABLE 159 READSPEAKER B.V.: BUSINESS OVERVIEW
                        TABLE 160 READSPEAKER B.V.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 161 READSPEAKER B.V.: PRODUCT LAUNCHES
                        TABLE 162 READSPEAKER B.V.: DEALS
             15.2.10 SESTEK
                        TABLE 163 SESTEK: BUSINESS OVERVIEW
                        TABLE 164 SESTEK: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 165 SESTEK: PRODUCT LAUNCHES
     15.3 OTHER PLAYERS 
             15.3.1 LUMENVOX
             15.3.2 ACAPELA GROUP
             15.3.3 NEXTUP TECHNOLOGIES, LLC
             15.3.4 TEXTSPEAK CORPORATION
             15.3.5 VONAGE AMERICA, LLC
             15.3.6 ELEVENLABS
             15.3.7 RESEMBLE AI
             15.3.8 LOVO, INC.
             15.3.9 DEEPBRAIN AI
             15.3.10 SYNTHESIA LIMITED
             15.3.11 HEYGEN
             15.3.12 COLOSSYAN INC.
             15.3.13 MURF.AI
             15.3.14 NUANCE COMMUNICATIONS, INC.
             15.3.15 ISPEECH, INC.
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.  
 
16 APPENDIX (Page No. - 217)
     16.1 DISCUSSION GUIDE 
     16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     16.3 CUSTOMIZATION OPTIONS 
     16.4 RELATED REPORTS 
     16.5 AUTHOR DETAILS 
 
 

The study involved four major activities in estimating the current size of the Text-to-Speech market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Various secondary sources have been referred to in the secondary research process for identifying and collecting information important for this study. The secondary sources include annual reports, press releases, and investor presentations of companies; white papers; journals and certified publications; and articles from recognized authors, websites, directories, and databases. Secondary research has been conducted to obtain key information about the industry’s supply chain, the market’s value chain, the total pool of key players, market segmentation according to the industry trends (to the bottom-most level), regional markets, and key developments from market- and technology-oriented perspectives. The secondary data has been collected and analyzed to determine the overall market size, further validated by primary research.

List of major secondary sources

Sources

Web Link

ResponsiveVoice Text to Speech

https://responsivevoice.org/

National Institute of Health

https://www.nih.gov/

eLearning Industry

https://elearningindustry.com/top-10-text-to-speech-tts-software-elearning

Talk Business UK

https://www.talk-business.co.uk/2019/11/18/the-numerous-benefits-of-using-text-to-speech-for-your-business/

Primary Research

Extensive primary research was conducted after gaining knowledge about the current scenario of the Text-to-Speech market through secondary research. Several primary interviews were conducted with experts from both the demand and supply sides across four major regions—North America, Europe, Asia Pacific and RoW. This primary data was collected through questionnaires, emails, and telephonic interviews.

Text-to-Speech Market
 Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been used, along with several data triangulation methods, to perform market estimation and forecasting for the overall market segments and subsegments listed in this report. Key players in the market have been identified through secondary research, and their market shares in the respective regions have been determined through primary and secondary research. This entire procedure includes the study of annual and financial reports of the top market players and extensive interviews for key insights (quantitative and qualitative) with industry experts (CEOs, VPs, directors, and marketing executives).

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the parameters affecting the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report. The following figure represents this study’s overall market size estimation process.

Bottom-Up Approach

The bottom-up approach was used to arrive at the overall size of the Text-to-Speech market from the revenues of the key players and their shares in the market. The overall market size was calculated based on the revenues of the key players identified in the market.

  • Identifying entities in the Text-to-Speech value chain influencing the entire Text-to-Speech industry
  • Analyzing each entity along with related major companies identifying technology providers for the implementation of offerings and services
  • Estimating the market for these Text-to-Speech end users
  • Tracking ongoing and upcoming implementation of Text-to-Speech developments by various companies and forecasting the market based on these developments and other critical parameters
  • Arriving at the market size by analyzing Text-to-Speech companies based on their countries and then combining it to get the market estimate by region
  • Verifying estimates and crosschecking them by a discussion with key opinion leaders, which include CXOs, directors, and operation managers

Text-to-Speech Market
 Size, and Bottom-Up Approach

Top-Down Approach

In the top-down approach, the overall market size has been used to estimate the size of individual markets (mentioned in the market segmentation) through percentage splits from secondary and primary research.

The most appropriate immediate parent market size has been used to implement the top-down approach to calculate the market size of specific segments. The top-down approach has been implemented for the data extracted from the secondary research to validate the market size obtained.
Each company’s market share has been estimated to verify the revenue shares used earlier in the top-down approach. This study has determined and confirmed the overall parent market and individual market sizes by the data triangulation method and data validation through primaries. The data triangulation method in this study is explained in the next section.

  • Focusing initially on topline investments by market players in the Text-to-Speech ecosystem
  • Calculating the market size based on the revenue generated by market players through the sales of Text-to-Speech components
  • Mapping the use of Text-to-Speech in different offerings.
  • Building and developing the information related to the revenue generated by market players through key products
  • Estimating the geographic split using secondary sources considering factors, such as the number of players in a specific country and region, the role of major players in the development of innovative products, and adoption and penetration rates in a particular country for various offerings, deployment modes, voice types, organization sizes, languages, and verticals.

Text-to-Speech Market
 Size, and Top-Down Approach

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the overall market has been split into several segments and subsegments. The data triangulation procedure has been employed wherever applicable to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the market size has been validated using top-down and bottom-up approaches.

Market Definition

Speech recognition involves a machine or program's capability to interpret dictation or recognize and execute spoken commands. Text-to-speech (TTS) technology, on the other hand, converts digital text into spoken language. Initially developed to aid the visually impaired, TTS systems find application in various scenarios, assisting those who read slowly, face concentration challenges, need writing feedback, experience visual stress, and more. Over time, technological progress has expanded the use of TTS across diverse applications, including providing directions on navigation devices, facilitating public announcements, and serving as voices for virtual assistants.

Key Stakeholders

  • Software providers
  • Defense controlling system manufacturers
  • Smart car manufacturers
  • Mobile handset manufacturers
  • Healthcare industry players
  • Industry experts

Report Objectives

  • To describe and forecast the Text-to-Speech market, in terms of value, based on offering, deployment mode, voice type, organization size, language, and vertical.
  • To forecast the market size, in terms of value, for various segments with regard to 4 main regions, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
  • To provide detailed information regarding the major factors influencing the growth of the Text-to-Speech market (drivers, restraints, opportunities, and industry-specific challenges)
  • To analyze the micro markets with respect to individual growth trends, prospects, and contributions to the total market
  • To study the complete value chain and allied industry segments, and perform a value chain analysis of the Text-to-Speech landscape
  • To analyze the opportunities in the market for various stakeholders by identifying the high-growth segments of the Text-to-Speech market
  • To profile the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze competitive developments, such as partnerships and joint ventures, mergers and acquisitions, new product developments, expansions, and research and development, in the Text-to-Speech market
  • To track and analyze competitive developments, such as partnerships, collaborations, agreements, joint ventures, mergers and acquisitions, expansions, product/service launches, and other developments in the market.

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Detailed analysis and profiling of additional market players (up to 5)
  • Additional country-level analysis of the Text-to-Speech market

Product Analysis

  • Product matrix, which provides a detailed comparison of the product portfolio of each company in the Text-to-Speech market.
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Published ON
Jan, 2024
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