Text-to-Speech Market is expected to reach USD 6.39 Bn. by 2029 Deepfake technology concerns to hamper market growth during the forecast period

Text-to-Speech Market is expected to reach USD 6.39 Bn. by 2029 Deepfake technology concerns to hamper market growth during the forecast period
Text-to-Speech Market
Text-To-Speech Market was valued at US$ 2.27 Bn. in 2021 and the total Text-To-Speech revenue is expected to grow at 13.8% from 2022 to 2029, reaching nearly US$ 6.39 Bn.

Pune, Dec 05, 2022: MMR has published a report on the Text-to-Speech Market on 28th November 2022. As per the “Global Text-to-Speech Market” report, the total market was worth USD 2.27 Bn. in 2021 and is expected to reach USD 6.39 Bn. by 2029 at a CAGR of 13.8% during the forecast period.

If you have any questions please feel free to contact our analyst at: https://www.maximizemarketresearch.com/request-sample/164793 

Text-to-Speech Market Report Scope & Research Methodology:

The Text-to-Speech Market report includes product categorization, applications, development trends, product technologies, competitive landscape, industrial frameworks, national and international policies as well as important growth dynamics. All conceivable elements influencing the market growth have been considered in the report scope, examined in depth, validated through primary research, and evaluated to provide the final quantitative and qualitative data. The market size for top-level markets and sub-segments has been consolidated, and the impact of inflation, economic downturns, regulatory & policy changes, and other variables is factored into the market forecast.

Text-to-Speech Market Overview:

Speech synthesis is the artificial creation of human speech. A voice synthesizer is a computer system that may be integrated into either software or hardware. A text-to-speech (TTS) system converts text into voice; other methods, such as phonetic transcriptions, turn symbolic language representations into speech. Text-to-speech is included in the portfolios of the vast majority of notable software businesses that offer a variety of cloud-based NLP APIs. Deep-learning models, also known as neural TTS, are used in today’s cutting-edge speech synthesis, with output characterized by natural-sounding fluctuations in pitch, speed, pronunciation, and accents. Various firms also provide “standard” voices with lesser-quality concatenative synthesis at a cheaper cost.

Text-to-Speech Market Dynamics:

Unlike existing aids, which give a limited range of insufficient voices, the researchers’ technique is unique in its capacity to build normal-sounding customized voices from even distorted speech records, allowing patients to speak while preserving personal identity and dignity. A three-minute sample of a Motor Neurone Disease patient’s speech, for example, was tested in a pilot study, and this synthetic voice is now in daily usage. A broader European study utilized 600 people’s voices to train the underlying statistical model, which is now being used to send several more recreated voices to patients via smartphone or tablet.

One of the major disadvantages of speech synthesis is the absence of subtleties seen in natural speech, such as word stress and pronunciation. A large number of separate rules and exceptions are necessary to achieve accurate pronunciation for synthetic speech. Speech synthesis is more challenging in certain languages due to specific phrase and pronunciation features. The difficulties of producing accurate pronunciation and voice modulation are likely to limit the use of text-to-speech technology in a range of applications.

Text-to-Speech Market Regional Insights:

During the forecast period, the North American text-to-speech market is estimated to grow at a CAGR of 11.3%. The regional market offers great growth prospects as the need for relevant insights from speech data intensifies. The region’s developed nations, such as the United States and Canada, have led the way in embracing new technology such as intelligent virtual assistants, which can swiftly translate current conversation data into automated self-help experiences and improve customer support.

Reading long texts, where long can mean anything more than three or four phrases, is the most obvious use in which neural TTS overcomes previously difficult quality problems. Earlier methods resulted in bland, repetitive material, but the new ones are significantly more interesting. In late 2019, Microsoft released a “Play My Emails” option to its Outlook for iOS and Android apps; within a year, long-form reading became a universal application.

Click To get SAMPLE PDF of Text-to-Speech Market (Including Full TOC, Table & Figures) @ https://www.maximizemarketresearch.com/request-sample/164793 

Text-to-Speech Market Segmentation:

By Component:         

  • Software
  • Services

By Deployment Mode:         

  • Cloud-based
  • On-Premise

By Type:         

  • Non-neural
  • Neural and Custom

By Language: 

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

By Vertical:    

  • Consumer
  • Automotive & Transportation
  • Healthcare
  • Education
  • Assistant tool for the visually impaired or disabilities
  • BFSI
  • Retail
  • Enterprise
  • Travel and Hospitality

Text-to-Speech Market Key Competitors:

  • Nuance Communication
  • Microsoft Corporation
  • IBM Corporation
  • Google, Inc.
  • Sensory Inc.
  • Amazon.Com
  • Readspeaker
  • LumenVox LLC
  • Acapela Group
  • CereProc
  • iFlytek
  • TextSpeak
  • Nextup Technologies
  • iSpeech
  • Nexmo Inc.
  • Baidu, Inc.
  • Facebook Research
  • Govivace
  • GL Communications

Key Questions answered in the Text-to-Speech Market Report are:

  • What is the competitive scenario of the Text-to-Speech Market?
  • Which are the key factors aiding the Text-to-Speech Market growth?
  • Which region is expected to hold the largest share of the Text-to-Speech Market by 2029?
  • Which company held the largest share of the Text-to-Speech Market in 2021?
  • Which application segment is expected to emerge as the leading segment in the Text-to-Speech Market?
  • Which product segment held the largest share of the Text-to-Speech Market in 2021?

Maximize Market Research, one of the leading information technology industry research firms, has also published the following reports:

Game-Based Learning Market – The Game-Based Learning Market size is expected to reach USD 48.93 Billion by 2029, at a CAGR of 20.8% during the forecast period. Gamification and game-based learning have been popular in several contexts, including business training, education, and social media.

Blockchain-as-a-Service Market – The Blockchain-as-a-Service Market size is expected to reach USD 35792.3 Million by 2029, at a CAGR of 60.1% during the forecast period. To streamline their operations, a rising number of small, medium-sized, and large organizations are implementing BaaS systems.

Visual Effects (VFX) Market – The Visual Effects (VFX) Market size is expected to reach USD 21.13 Billion by 2029, at a CAGR of 8.2% during the forecast period. Visual effects technology is gaining popularity, with applications in television shows, video games, films, and advertisements. Since it is a continuously growing field, animation and graphics are becoming potentially viable career paths.

About Maximize Market Research:

Maximize Market Research provides syndicate as well as custom-made business and market B2B and B2C research on 6,500 high-growth emerging technologies and opportunities as well as threats to the companies across the  Chemical, Healthcare, Pharmaceuticals, Electronics and Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Maximize Market Research is positioned to estimate and forecast the market size with the competitive landscape of the industries. Additional information is available at https://www.maximizemarketresearch.com/.

Contact Maximize Market Research:

3rd Floor, Navale IT Park, Phase 2

Pune Banglore Highway, Narhe,

Pune, Maharashtra 411041, India

[email protected]

+91 96071 95908, +91 9607365656

Media Contact
Contact Person: Geeta Yevle
Email: Send Email
Address:3rd Floor, Navale IT Park, Phase 2, Pune Banglore Highway, Narhe,
City: Pune
State: Maharashtra
Country: India
Website: https://www.maximizemarketresearch.com/market-report/text-to-speech-market/164793/