The large scale text-to-speech market report represents all-inclusive professional study of the semiconductors and electronics industry which focuses on primary and secondary drivers, market share, competitor analysis, leading segments and geographical analysis. This business report contains a key data and information about the market, emerging trends, product usage, motivating factors for customers and competitors, restraints, brand positioning, and customer behaviour. All of these parameters about semiconductors and electronics industry are again researched acutely for the enhanced and actionable market insights. Geographical scope of the products is also taken into consideration methodically for the major global areas such as Asia, North America, South America, and Africa.
While creating text-to-speech market report, all the necessities and requirements of the businesses have been considered with which they can achieve successful business growth. This report is an essential document for every market enthusiast, policymaker, investor, and player. Due to the effectiveness of SWOT analysis and Porter's Five Forces analysis in generating market research report, they are preferred by the businesses and hence also used while preparing this report. The universal text-to-speech market research report displays important product developments and tracks recent acquisitions, mergers and research in the semiconductors and electronics industry by the key players.
Data Bridge Market Research analyses that the text-to-speech market was valued at USD 2.06 billion in 2021 and is expected to reach the value of USD 17.01 billion by 2029, at a CAGR of 30.20% during the forecast period of 2022-2029.
Definition
Text-to-speech technology is also known as read aloud technology. It is a type of assistive technology that reads words from smartphones, computers, and other digital platforms. It is a technology that is based on software. It is popular among people who have difficulty reading.
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Key Growth Drivers:
Rising penetration of mobile devices/handheld devices
Mobile devices have evolved from voice-calling devices to more sophisticated personal computing devices that allow users to browse the internet, take photographs, language translation, navigation guidance, and manage entertainment and multimedia content. Text-to-speech technology is becoming more popular in everyday applications due to the growing demand for automation and convenience. Mobile devices, smartphones, portable devices, digital assistants, and other handheld devices use text-to-speech software. Text-to-speech devices can also eliminate the need for users to read lengthy user guides or manuals by providing verbal prompts and audio directions for operations. Many such smart device advancements are expected to increase the integration of text-to-speech technology into handheld devices.
The increasing number of people suffering from visual impairments and learning disabilities
Text-to-speech technology can assist people with visual impairments and learning disabilities in a variety of ways. People with dyslexia or reading disabilities have a difficult time deciphering text. The letters may not make sense to them and thus remain unknown. Text-to-speech technology can help such people by converting their texts into an auditory format and making them easier to understand. Text comprehension and content comprehension are difficult for people with learning disabilities. As a result, their development and knowledge processing skills suffer. Text-to-speech technology will assist such people while also providing a growth opportunity in the text-to-speech market.
The report emphasizes the participation of key entities, notably:
- Nuance Communications (U.S.)
- Google LLC (U.S.)
- Apple, Inc. (U.S.)
- com, Inc. (U.S.)
- Microsoft Corporation (U.S.)
- IBM Corporation (U.S.)
- iFlytek (China)
- Baidu (China)
- LumenVox LLC (U.S.)
- Sensory, Inc. (U.S.)
- Sestek (Turkey)
- Dolbey Systems, Inc. (U.S.)
Report Objective:
- Investigate the text-to-speech market, focusing on strategic movements like collaborations, agreements, mergers, and product launches.
- Explore market diversification avenues such as new products, unexplored regions, recent advancements, and investments in text-to-speech market.
- Streamline initial research efforts by identifying text-to-speech market growth, size, key players, and segments, saving valuable time.
- Highlight pivotal industry trends in the text-to-speech market to empower players in devising effective, sustainable strategies.
- Analyze micro markets for their individual growth trajectories, potential, and contributions to the overall market.
- Shape or refine business expansion strategies leveraging growth opportunities in both established and emerging markets.
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Key Market Segmentation
Type (Non-Neural, Neural, and Custom), Component (Software/Solution, and Services), Language (English, Spanish, Arabic, Chinese, and Others), Deployment Mode (Cloud based and On-Premise), Organization (Small, Medium Enterprise, and Large Enterprise) and End-Use (Introduction, Consumer, Healthcare, Automotive & Transportation, Education, BFSI, Assistant tool for visually impaired or disabilities, Travel and Hospitality, Retail, Enterprise, and Others
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