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Market Leader - Text-to-Speech Market

The growth of the text-to-speech market is expected to be driven by the rising demand for handheld devices and increase in government spending for the education of differently abled persons. The Americas is expected to hold the largest size of the text-to-speech market, while the market in Asia Pacific is expected to grow at the highest rate during the forecast period.

The companies involved in the text-to-speech market adopted various strategies such as new product launches, partnerships, agreements, and collaborations as the key growth strategy over the last three years.

Nuance Communications has invested heavily in research and development to enhance its product portfolio and to build a world-class portfolio of intellectual property, technologies, applications, and solutions through internal development and acquisitions. In the mobile and consumer segment, the company is focusing on adopting IoT in its device solutions, geographic expansion of their mobile operator services, and the expansion of Dragon solutions into the cloud. In the enterprise segment, the company is focused on extending its technology capabilities with intelligent self-service and artificial intelligence for customer service. With Loquendo TTS-which delivers high-quality, dynamic, and personalized audio for enhanced customer interactions in multiple languages-and Vocaliser, the company has a strong product portfolio and offers enhanced text-to-speech solutions to its customers.

Another major player in this market is Amazon Web Services, which offers a wide range of artificial intelligence products, such as Amazon Polly, Amazon Lex, etc., to help the company leverage its text-to-speech product portfolio. The company has made its products available to keep up the pace with fast-growing technologies such as neural networks and deep learning. The company has a well-established market for cloud-based services, which helps it to offer more cloud-based speech solutions to its customers. IVONA Software provides high-quality, natural-sounding TTS voices and highly accurate text interpretation. The company researches and develops high-caliber TTS technology and delivers its solutions on a large number of devices and applications in a customer-centric way.

Related Reports:

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

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