Video Transcription Market

According to a research report "Video Transcription Market - Global Forecast to 2027" published by MarketsandMarkets, the global Video Transcription market size is projected to grow from USD XX.X billion in 2022 to USD XX.X billion by 2027, at a compound annual growth rate (CAGR) of XX.X% during the forecast period. The aim to reach variety of audience across the globe is driving the growth of the Video Transcription market.

The service segment is estimated to lead the Video Transcription market during the forecast period

The service segment is classified into professional and managed. The professional services consist of training and consulting, deployment and integrations and support and maintenance. These services also offer advantages such as low installation and maintenance cost and is expected to lead the market during the forecast period.

The media and entertainment vertical is set to emerge as the largest market for during the forecast period.

Video transcription solutions are used by media professionals working in various parts such as film making, video production, or journalism, and copywriters use transcription services for transcribing interviews to produce articles or press releases. Also, the journalists transcribe their interviews. Many film companies also use transcription for various activities such as to broadcast scripts, continuousness scripts, or post-production scripts.

Asia Pacific segment is projected to grow with the fastest growth rate during the forecast period.

Asia Pacific constitutes thriving economies such as India, Australia, and Japan are also largely implementing the video transcription solutions. To reach wider range of audience of different languages in country such as India there is increase in adoption of video transcription solutions in the region and is expected to witness fastest growth rate during the forecast period.

Market Players

The major vendors covered in the video transcription market include Google (US), Microsoft (US), Intelex Technologies (Canada), AWS (US), Voicebase (US), Voci (US), Rev (US), Scribie (US), Otter.ai (US), Trint (UK), Temi.com (US), TranscribeMe (US), GMR Transcription (US), Sonix (US).

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