Text-To-Speech Market is expected to grow at a CAGR of 13.8 percent during the forecast period

by Maximize Market Research

(EMAILWIRE.COM, January 30, 2023 ) As per the Maximize Market research, a global business and consultancy firm, the global Text-To-Speech Market was USD 2.27 billion in 2021 is expected to grow at a CAGR of 13.8 percent to reach USD 6.39 billion throughout the forecast period.

Text-To-Speech Market Scope and Research Methodology

Text-To-Speech market report includes comprehensive data on drivers, restraints, regional insights and opportunities which help investors take important decisions on investment and marketing for the growth of business. The bottom-up approach was used to estimate market size which was validated by primary research. Through secondary research method, the key vendors in Text-To-Speech market have been identified. It presents an in-depth analysis of the market through segments.

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Text-To-Speech Market Dynamics
Increased need for automation and convenience and ability to avoid the need to read lengthy manuals are expected to drive the market growth. Growing investment in education for people with visual impairments or reading challenges are expected to drive Text-To-Speech market. The complexities of genuine speech and varieties of pronunciation are expected to restrain the market growth.

Text-To-Speech Market Regional Insights

North America region is expected to grow at a CAGR of 11.3 percent throughout the forecast period. Developed nations such as United States and Canada are adopting intelligent virtual assistants technologies which quickly transform current conversation data into automated self-service are expected to drive the region grow throughout the forecast period.

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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
• Others
Text-To-Speech Market Key Players Include
• Nuance Communication
• Microsoft Corporation
• IBM Corporation
• Google, Inc.
• Sensory Inc.
• Amazon.Com
• Readspeaker
• LumenVox LLC
• Acapela Group
• CereProc
• SESTEK
• iFlytek
• TextSpeak
• Nextup Technologies
• iSpeech
• Nexmo Inc.
• Baidu, Inc.
• Facebook Research
• Govivace
• GL Communications

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Maximize Market Research is leading IT and Telecommunication market research firm, has also published the following reports:

Mobile Money Market : The market is expected to grow at a CAGR of 26 percent to reach USD 31.21 billion by 2029 during the forecast period. The increased number of mobile phone users is expected to drive the market growth.

Network Monitoring Market : The market is expected to grow at a CAGR of 9.50 percent to reach USD 4.50 billion by 2029 throughout the forecast period. Number of organizations are choosing cloud services to save their cost of building new data centers are expected to drive the market growth.

About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 6,500 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defence and other manufacturing sectors.