The Text to Speech Market is expected to register a CAGR of 11.9% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by 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), Industry Vertical (Healthcare, Automotive & Transportation, Education, BFSI, Travel & Hospitality, Retail, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Text to Speech Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Text to Speech Market Segmentation
Component- Software/Solution
- Services
- English
- Spanish
- Arabic
- Chinese
- Cloud based and On-Premise
- Small
- Medium Enterprise
- Large Enterprise
- Healthcare
- Automotive & Transportation
- Education
- BFSI
- Travel & Hospitality
- Retail
Strategic Insights
Text to Speech Market Growth Drivers- Advancements in AI and Deep Learning: The continuous advancements in Artificial Intelligence (AI) and deep learning technologies have significantly improved the quality and efficiency of text-to-speech systems. Machine learning algorithms and neural networks now enable TTS solutions to generate highly natural, human-like speech. This technological leap has led to increased adoption across various industries, as businesses can now offer seamless, realistic voice experiences to customers.
- Growing Demand for Accessibility Solutions: The rising need for accessibility tools for individuals with visual impairments or learning disabilities is another key driver. Text-to-speech technology is widely used in creating assistive solutions, such as screen readers for the visually impaired, reading aids for students with dyslexia, and even voice assistants in mobile devices. The growing awareness and adoption of accessibility solutions are pushing the TTS market forward, especially in education, healthcare, and government sectors.
- Increase in Voice-Activated Devices: The proliferation of voice-activated devices, such as smart speakers, virtual assistants (like Amazon Alexa, Google Assistant, and Apple Siri), and autonomous systems, has greatly boosted the demand for TTS technology. Consumers increasingly prefer voice-based interactions for convenience and hands-free operations, further accelerating the growth of the TTS market.
- Multi-Language and Accent Capabilities: As businesses expand globally, the demand for TTS solutions that can handle multiple languages, dialects, and accents is on the rise. Future TTS technologies will likely offer a wider variety of voices, regional accents, and multilingual capabilities to cater to a more diverse audience. This trend will enhance the user experience, especially for global customer service, e-commerce, and content localization.
- Emotional and Expressive Speech Synthesis: A key future trend in TTS is the development of emotionally expressive and context-aware speech synthesis. Current TTS systems primarily produce neutral and robotic voices, but future innovations will focus on making speech sound more empathetic, emotional, and context-sensitive. This could lead to more personalized interactions in customer service, healthcare, and entertainment, where the tone and emotion of speech can play a crucial role in user engagement and satisfaction.
- Integration with Virtual Reality (VR) and Augmented Reality (AR): The growing interest in VR and AR technologies is creating new opportunities for TTS integration. In virtual worlds and AR environments, TTS can be used to create immersive, lifelike interactions, providing real-time auditory feedback and dialogues for users. Whether for gaming, virtual meetings, or immersive training, TTS can enhance the realism of virtual experiences by generating dynamic and responsive voices within these digital ecosystems.
- Integration in Consumer Electronics: As smart devices continue to become integral parts of everyday life, there are significant opportunities for TTS technologies to be integrated into consumer electronics like smartphones, tablets, and wearables. In particular, TTS can enhance the user experience by offering real-time voice feedback, notifications, and personalized interactions, providing a competitive edge to manufacturers who integrate this technology.
- Expansion in E-learning and EdTech: The e-learning sector presents a vast opportunity for TTS solutions, especially with the growing trend of remote education. Text-to-speech can assist students by providing auditory content, helping with language learning, or supporting those with learning disabilities. EdTech platforms can leverage TTS to deliver content in various formats, ensuring greater inclusivity and engagement for diverse learning needs.
- Automotive Industry Innovations: The automotive industry is another sector ripe for TTS adoption, especially with the ongoing developments in autonomous driving and in-car digital assistants. TTS is used for navigation prompts, safety notifications, and voice-command-based systems within vehicles. The shift toward connected vehicles and voice-based user interfaces is opening up new avenues for TTS growth within the automotive sector.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Text to Speech Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Text to Speech Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation as our team would review the same and check the feasibility
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Multi-Language and Accent Capabilities is anticipated to play a significant role in the global text to speech market in the coming years
The major factors driving the text to speech market are:
1. Advancements in AI and Deep Learning
2. Growing Demand for Accessibility Solutions
The global text to speech market is expected to grow at a CAGR of 11.9% during the forecast period 2024 - 2031
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Text-to-Speech Market - By Offering
1.3.2Text-to-Speech Market - By Language
1.3.3Text-to-Speech Market - By Deployment Type
1.3.4Text-to-Speech Market - By Enterprise Size
1.3.5Text-to-Speech Market - By End-user
1.3.6Text-to-Speech Market - By Region
1.3.6.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.TEXT-TO-SPEECH MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.TEXT-TO-SPEECH MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.TEXT-TO-SPEECH MARKET - GLOBAL MARKET ANALYSIS
6.1.TEXT-TO-SPEECH - GLOBAL MARKET OVERVIEW
6.2.TEXT-TO-SPEECH - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.TEXT-TO-SPEECH MARKET - REVENUE AND FORECASTS TO 2028 " OFFERING
7.1.OVERVIEW
7.2.OFFERING MARKET FORECASTS AND ANALYSIS
7.3.SOLUTION
7.3.1.Overview
7.3.2.Solution Market Forecast and Analysis
7.4.SERVICES
7.4.1.Overview
7.4.2.Services Market Forecast and Analysis
8.TEXT-TO-SPEECH MARKET - REVENUE AND FORECASTS TO 2028 " LANGUAGE
8.1.OVERVIEW
8.2.LANGUAGE MARKET FORECASTS AND ANALYSIS
8.3.ENGLISH
8.3.1.Overview
8.3.2.English Market Forecast and Analysis
8.4.SPANISH
8.4.1.Overview
8.4.2.Spanish Market Forecast and Analysis
8.5.HINDI
8.5.1.Overview
8.5.2.Hindi Market Forecast and Analysis
8.6.CHINESE
8.6.1.Overview
8.6.2.Chinese Market Forecast and Analysis
8.7.ARABIC
8.7.1.Overview
8.7.2.Arabic Market Forecast and Analysis
8.8.OTHERS
8.8.1.Overview
8.8.2.Others Market Forecast and Analysis
9.TEXT-TO-SPEECH MARKET - REVENUE AND FORECASTS TO 2028 " DEPLOYMENT TYPE
9.1.OVERVIEW
9.2.DEPLOYMENT TYPE MARKET FORECASTS AND ANALYSIS
9.3.CLOUD
9.3.1.Overview
9.3.2.Cloud Market Forecast and Analysis
9.4.ON-PREMISES
9.4.1.Overview
9.4.2.On-premises Market Forecast and Analysis
10.TEXT-TO-SPEECH MARKET - REVENUE AND FORECASTS TO 2028 " ENTERPRISE SIZE
10.1.OVERVIEW
10.2.ENTERPRISE SIZE MARKET FORECASTS AND ANALYSIS
10.3.SMES
10.3.1.Overview
10.3.2.SMEs Market Forecast and Analysis
10.4.LARGE ENTERPRISES
10.4.1.Overview
10.4.2.Large Enterprises Market Forecast and Analysis
11.TEXT-TO-SPEECH MARKET - REVENUE AND FORECASTS TO 2028 " END-USER
11.1.OVERVIEW
11.2.END-USER MARKET FORECASTS AND ANALYSIS
11.3.AUTOMOTIVE AND TRANSPORTATION
11.3.1.Overview
11.3.2.Automotive and Transportation Market Forecast and Analysis
11.4.HEALTHCARE
11.4.1.Overview
11.4.2.Healthcare Market Forecast and Analysis
11.5.GOVERNMENT AND EDUCATION
11.5.1.Overview
11.5.2.Government and Education Market Forecast and Analysis
11.6.BFSI
11.6.1.Overview
11.6.2.BFSI Market Forecast and Analysis
11.7.RETAIL
11.7.1.Overview
11.7.2.Retail Market Forecast and Analysis
11.8.TRAVEL AND HOSPITALITY
11.8.1.Overview
11.8.2.Travel and Hospitality Market Forecast and Analysis
11.9.OTHERS
11.9.1.Overview
11.9.2.Others Market Forecast and Analysis
12.TEXT-TO-SPEECH MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
12.1.NORTH AMERICA
12.1.1North America Text-to-Speech Market Overview
12.1.2North America Text-to-Speech Market Forecasts and Analysis
12.1.3North America Text-to-Speech Market Forecasts and Analysis - By Offering
12.1.4North America Text-to-Speech Market Forecasts and Analysis - By Language
12.1.5North America Text-to-Speech Market Forecasts and Analysis - By Deployment Type
12.1.6North America Text-to-Speech Market Forecasts and Analysis - By Enterprise Size
12.1.7North America Text-to-Speech Market Forecasts and Analysis - By End-user
12.1.8North America Text-to-Speech Market Forecasts and Analysis - By Countries
12.1.8.1United States Text-to-Speech Market
12.1.8.1.1United States Text-to-Speech Market by Offering
12.1.8.1.2United States Text-to-Speech Market by Language
12.1.8.1.3United States Text-to-Speech Market by Deployment Type
12.1.8.1.4United States Text-to-Speech Market by Enterprise Size
12.1.8.1.5United States Text-to-Speech Market by End-user
12.1.8.2Canada Text-to-Speech Market
12.1.8.2.1Canada Text-to-Speech Market by Offering
12.1.8.2.2Canada Text-to-Speech Market by Language
12.1.8.2.3Canada Text-to-Speech Market by Deployment Type
12.1.8.2.4Canada Text-to-Speech Market by Enterprise Size
12.1.8.2.5Canada Text-to-Speech Market by End-user
12.1.8.3Mexico Text-to-Speech Market
12.1.8.3.1Mexico Text-to-Speech Market by Offering
12.1.8.3.2Mexico Text-to-Speech Market by Language
12.1.8.3.3Mexico Text-to-Speech Market by Deployment Type
12.1.8.3.4Mexico Text-to-Speech Market by Enterprise Size
12.1.8.3.5Mexico Text-to-Speech Market by End-user
12.2.EUROPE
12.2.1Europe Text-to-Speech Market Overview
12.2.2Europe Text-to-Speech Market Forecasts and Analysis
12.2.3Europe Text-to-Speech Market Forecasts and Analysis - By Offering
12.2.4Europe Text-to-Speech Market Forecasts and Analysis - By Language
12.2.5Europe Text-to-Speech Market Forecasts and Analysis - By Deployment Type
12.2.6Europe Text-to-Speech Market Forecasts and Analysis - By Enterprise Size
12.2.7Europe Text-to-Speech Market Forecasts and Analysis - By End-user
12.2.8Europe Text-to-Speech Market Forecasts and Analysis - By Countries
12.2.8.1Germany Text-to-Speech Market
12.2.8.1.1Germany Text-to-Speech Market by Offering
12.2.8.1.2Germany Text-to-Speech Market by Language
12.2.8.1.3Germany Text-to-Speech Market by Deployment Type
12.2.8.1.4Germany Text-to-Speech Market by Enterprise Size
12.2.8.1.5Germany Text-to-Speech Market by End-user
12.2.8.2France Text-to-Speech Market
12.2.8.2.1France Text-to-Speech Market by Offering
12.2.8.2.2France Text-to-Speech Market by Language
12.2.8.2.3France Text-to-Speech Market by Deployment Type
12.2.8.2.4France Text-to-Speech Market by Enterprise Size
12.2.8.2.5France Text-to-Speech Market by End-user
12.2.8.3Italy Text-to-Speech Market
12.2.8.3.1Italy Text-to-Speech Market by Offering
12.2.8.3.2Italy Text-to-Speech Market by Language
12.2.8.3.3Italy Text-to-Speech Market by Deployment Type
12.2.8.3.4Italy Text-to-Speech Market by Enterprise Size
12.2.8.3.5Italy Text-to-Speech Market by End-user
12.2.8.4United Kingdom Text-to-Speech Market
12.2.8.4.1United Kingdom Text-to-Speech Market by Offering
12.2.8.4.2United Kingdom Text-to-Speech Market by Language
12.2.8.4.3United Kingdom Text-to-Speech Market by Deployment Type
12.2.8.4.4United Kingdom Text-to-Speech Market by Enterprise Size
12.2.8.4.5United Kingdom Text-to-Speech Market by End-user
12.2.8.5Russia Text-to-Speech Market
12.2.8.5.1Russia Text-to-Speech Market by Offering
12.2.8.5.2Russia Text-to-Speech Market by Language
12.2.8.5.3Russia Text-to-Speech Market by Deployment Type
12.2.8.5.4Russia Text-to-Speech Market by Enterprise Size
12.2.8.5.5Russia Text-to-Speech Market by End-user
12.2.8.6Rest of Europe Text-to-Speech Market
12.2.8.6.1Rest of Europe Text-to-Speech Market by Offering
12.2.8.6.2Rest of Europe Text-to-Speech Market by Language
12.2.8.6.3Rest of Europe Text-to-Speech Market by Deployment Type
12.2.8.6.4Rest of Europe Text-to-Speech Market by Enterprise Size
12.2.8.6.5Rest of Europe Text-to-Speech Market by End-user
12.3.ASIA-PACIFIC
12.3.1Asia-Pacific Text-to-Speech Market Overview
12.3.2Asia-Pacific Text-to-Speech Market Forecasts and Analysis
12.3.3Asia-Pacific Text-to-Speech Market Forecasts and Analysis - By Offering
12.3.4Asia-Pacific Text-to-Speech Market Forecasts and Analysis - By Language
12.3.5Asia-Pacific Text-to-Speech Market Forecasts and Analysis - By Deployment Type
12.3.6Asia-Pacific Text-to-Speech Market Forecasts and Analysis - By Enterprise Size
12.3.7Asia-Pacific Text-to-Speech Market Forecasts and Analysis - By End-user
12.3.8Asia-Pacific Text-to-Speech Market Forecasts and Analysis - By Countries
12.3.8.1Australia Text-to-Speech Market
12.3.8.1.1Australia Text-to-Speech Market by Offering
12.3.8.1.2Australia Text-to-Speech Market by Language
12.3.8.1.3Australia Text-to-Speech Market by Deployment Type
12.3.8.1.4Australia Text-to-Speech Market by Enterprise Size
12.3.8.1.5Australia Text-to-Speech Market by End-user
12.3.8.2China Text-to-Speech Market
12.3.8.2.1China Text-to-Speech Market by Offering
12.3.8.2.2China Text-to-Speech Market by Language
12.3.8.2.3China Text-to-Speech Market by Deployment Type
12.3.8.2.4China Text-to-Speech Market by Enterprise Size
12.3.8.2.5China Text-to-Speech Market by End-user
12.3.8.3India Text-to-Speech Market
12.3.8.3.1India Text-to-Speech Market by Offering
12.3.8.3.2India Text-to-Speech Market by Language
12.3.8.3.3India Text-to-Speech Market by Deployment Type
12.3.8.3.4India Text-to-Speech Market by Enterprise Size
12.3.8.3.5India Text-to-Speech Market by End-user
12.3.8.4Japan Text-to-Speech Market
12.3.8.4.1Japan Text-to-Speech Market by Offering
12.3.8.4.2Japan Text-to-Speech Market by Language
12.3.8.4.3Japan Text-to-Speech Market by Deployment Type
12.3.8.4.4Japan Text-to-Speech Market by Enterprise Size
12.3.8.4.5Japan Text-to-Speech Market by End-user
12.3.8.5South Korea Text-to-Speech Market
12.3.8.5.1South Korea Text-to-Speech Market by Offering
12.3.8.5.2South Korea Text-to-Speech Market by Language
12.3.8.5.3South Korea Text-to-Speech Market by Deployment Type
12.3.8.5.4South Korea Text-to-Speech Market by Enterprise Size
12.3.8.5.5South Korea Text-to-Speech Market by End-user
12.3.8.6Rest of Asia-Pacific Text-to-Speech Market
12.3.8.6.1Rest of Asia-Pacific Text-to-Speech Market by Offering
12.3.8.6.2Rest of Asia-Pacific Text-to-Speech Market by Language
12.3.8.6.3Rest of Asia-Pacific Text-to-Speech Market by Deployment Type
12.3.8.6.4Rest of Asia-Pacific Text-to-Speech Market by Enterprise Size
12.3.8.6.5Rest of Asia-Pacific Text-to-Speech Market by End-user
12.4.MIDDLE EAST AND AFRICA
12.4.1Middle East and Africa Text-to-Speech Market Overview
12.4.2Middle East and Africa Text-to-Speech Market Forecasts and Analysis
12.4.3Middle East and Africa Text-to-Speech Market Forecasts and Analysis - By Offering
12.4.4Middle East and Africa Text-to-Speech Market Forecasts and Analysis - By Language
12.4.5Middle East and Africa Text-to-Speech Market Forecasts and Analysis - By Deployment Type
12.4.6Middle East and Africa Text-to-Speech Market Forecasts and Analysis - By Enterprise Size
12.4.7Middle East and Africa Text-to-Speech Market Forecasts and Analysis - By End-user
12.4.8Middle East and Africa Text-to-Speech Market Forecasts and Analysis - By Countries
12.4.8.1South Africa Text-to-Speech Market
12.4.8.1.1South Africa Text-to-Speech Market by Offering
12.4.8.1.2South Africa Text-to-Speech Market by Language
12.4.8.1.3South Africa Text-to-Speech Market by Deployment Type
12.4.8.1.4South Africa Text-to-Speech Market by Enterprise Size
12.4.8.1.5South Africa Text-to-Speech Market by End-user
12.4.8.2Saudi Arabia Text-to-Speech Market
12.4.8.2.1Saudi Arabia Text-to-Speech Market by Offering
12.4.8.2.2Saudi Arabia Text-to-Speech Market by Language
12.4.8.2.3Saudi Arabia Text-to-Speech Market by Deployment Type
12.4.8.2.4Saudi Arabia Text-to-Speech Market by Enterprise Size
12.4.8.2.5Saudi Arabia Text-to-Speech Market by End-user
12.4.8.3U.A.E Text-to-Speech Market
12.4.8.3.1U.A.E Text-to-Speech Market by Offering
12.4.8.3.2U.A.E Text-to-Speech Market by Language
12.4.8.3.3U.A.E Text-to-Speech Market by Deployment Type
12.4.8.3.4U.A.E Text-to-Speech Market by Enterprise Size
12.4.8.3.5U.A.E Text-to-Speech Market by End-user
12.4.8.4Rest of Middle East and Africa Text-to-Speech Market
12.4.8.4.1Rest of Middle East and Africa Text-to-Speech Market by Offering
12.4.8.4.2Rest of Middle East and Africa Text-to-Speech Market by Language
12.4.8.4.3Rest of Middle East and Africa Text-to-Speech Market by Deployment Type
12.4.8.4.4Rest of Middle East and Africa Text-to-Speech Market by Enterprise Size
12.4.8.4.5Rest of Middle East and Africa Text-to-Speech Market by End-user
12.5.SOUTH AND CENTRAL AMERICA
12.5.1South and Central America Text-to-Speech Market Overview
12.5.2South and Central America Text-to-Speech Market Forecasts and Analysis
12.5.3South and Central America Text-to-Speech Market Forecasts and Analysis - By Offering
12.5.4South and Central America Text-to-Speech Market Forecasts and Analysis - By Language
12.5.5South and Central America Text-to-Speech Market Forecasts and Analysis - By Deployment Type
12.5.6South and Central America Text-to-Speech Market Forecasts and Analysis - By Enterprise Size
12.5.7South and Central America Text-to-Speech Market Forecasts and Analysis - By End-user
12.5.8South and Central America Text-to-Speech Market Forecasts and Analysis - By Countries
12.5.8.1Brazil Text-to-Speech Market
12.5.8.1.1Brazil Text-to-Speech Market by Offering
12.5.8.1.2Brazil Text-to-Speech Market by Language
12.5.8.1.3Brazil Text-to-Speech Market by Deployment Type
12.5.8.1.4Brazil Text-to-Speech Market by Enterprise Size
12.5.8.1.5Brazil Text-to-Speech Market by End-user
12.5.8.2Argentina Text-to-Speech Market
12.5.8.2.1Argentina Text-to-Speech Market by Offering
12.5.8.2.2Argentina Text-to-Speech Market by Language
12.5.8.2.3Argentina Text-to-Speech Market by Deployment Type
12.5.8.2.4Argentina Text-to-Speech Market by Enterprise Size
12.5.8.2.5Argentina Text-to-Speech Market by End-user
12.5.8.3Rest of South and Central America Text-to-Speech Market
12.5.8.3.1Rest of South and Central America Text-to-Speech Market by Offering
12.5.8.3.2Rest of South and Central America Text-to-Speech Market by Language
12.5.8.3.3Rest of South and Central America Text-to-Speech Market by Deployment Type
12.5.8.3.4Rest of South and Central America Text-to-Speech Market by Enterprise Size
12.5.8.3.5Rest of South and Central America Text-to-Speech Market by End-user
13.INDUSTRY LANDSCAPE
13.1.MERGERS AND ACQUISITIONS
13.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3.NEW PRODUCT LAUNCHES
13.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14.TEXT-TO-SPEECH MARKET, KEY COMPANY PROFILES
14.1.ACAPELA GROUP
14.1.1.Key Facts
14.1.2.Business Description
14.1.3.Products and Services
14.1.4.Financial Overview
14.1.5.SWOT Analysis
14.1.6.Key Developments
14.2.AMAZON WEB SERVICES, INC.
14.2.1.Key Facts
14.2.2.Business Description
14.2.3.Products and Services
14.2.4.Financial Overview
14.2.5.SWOT Analysis
14.2.6.Key Developments
14.3.CEREPROC LTD.
14.3.1.Key Facts
14.3.2.Business Description
14.3.3.Products and Services
14.3.4.Financial Overview
14.3.5.SWOT Analysis
14.3.6.Key Developments
14.4.GOOGLE LLC
14.4.1.Key Facts
14.4.2.Business Description
14.4.3.Products and Services
14.4.4.Financial Overview
14.4.5.SWOT Analysis
14.4.6.Key Developments
14.5.IBM CORPORATION
14.5.1.Key Facts
14.5.2.Business Description
14.5.3.Products and Services
14.5.4.Financial Overview
14.5.5.SWOT Analysis
14.5.6.Key Developments
14.6.MICROSOFT CORPORATION
14.6.1.Key Facts
14.6.2.Business Description
14.6.3.Products and Services
14.6.4.Financial Overview
14.6.5.SWOT Analysis
14.6.6.Key Developments
14.7.NATURALTTS
14.7.1.Key Facts
14.7.2.Business Description
14.7.3.Products and Services
14.7.4.Financial Overview
14.7.5.SWOT Analysis
14.7.6.Key Developments
14.8.NUANCE COMMUNICATION
14.8.1.Key Facts
14.8.2.Business Description
14.8.3.Products and Services
14.8.4.Financial Overview
14.8.5.SWOT Analysis
14.8.6.Key Developments
14.9.READSPEAKER
14.9.1.Key Facts
14.9.2.Business Description
14.9.3.Products and Services
14.9.4.Financial Overview
14.9.5.SWOT Analysis
14.9.6.Key Developments
14.10.SESTEK
14.10.1.Key Facts
14.10.2.Business Description
14.10.3.Products and Services
14.10.4.Financial Overview
14.10.5.SWOT Analysis
14.10.6.Key Developments
15.APPENDIX
15.1.ABOUT THE INSIGHT PARTNERS
15.2.GLOSSARY OF TERMS
1. Acapela Group
2. Amazon Web Services, Inc.
3. CereProc Ltd.
4. Google LLC
5. IBM Corporation
6. Microsoft Corporation
7. Naturaltts
8. Nuance Communication
9. Readspeaker
10. SESTEK
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For