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Text-to-Speech Market

Global Text-to-Speech Market Size, Share, Trends, Forecast: By Offering: Software/Solution, Service; By Mode of Deployment: On-Premises, Cloud; By Type: Neural and Custom, Non-Neural; By Language Type: English, Chinese, Spanish, Hindi, Arabic, Others; By Enterprise Size; By End Use; Regional Analysis; Competitive Landscape; 2023-2028

Global Text-to-Speech Market Outlook

The global text-to-speech market size reached approximately USD 3.02 billion in 2022. The market is assessed to grow at a CAGR of 15.3% between 2023 and 2028 to attain a value of around USD 7.09 billion by 2028.

 

Key Trends in the Market

Text-to-speech, abbreviated as TTS, is an assistive technology that converts text into voice output. It can function on various personal digital devices, including smartphones, computers, and tablets. The voice generated by TTS tools is synonymous with natural sounds and is useful for individuals with literacy challenges or impairments.

 

  • The rising emphasis on personalised customer experience is one of the key text-to-speech market trends. TTS technology can enhance conversational skills and optimise the response time of interactive voice response (IVR), facilitate automation of routine calls, and provide voice-enabled chatbots to enhance customer engagement and appeal to visually impaired individuals.
  • The text-to-speech market demand is being fuelled by the rising deployment of the technology in the gaming sector to produce in-game dialogues, eliminate the requirement for expensive recording sessions, and develop innovative accessibility features like audio prompts and verbal menus, among others.
  • Advancements in deep learning, voice cloning, natural language understanding, and neural TTS, among other technologies, are expected to further aid the text-to-speech market growth in the forecast period. Such advancements can improve the tone, emote, nuances, intonation, pitch rate, stress patterns, and pronunciation of TTS tools to generate natural-sounding speech, which is expected to boost their usage in different applications, ranging from content creation to education.

 

Market Analysis

Based on offering, the market is segmented into software/solution and service. On the basis of deployment, the market can be divided into on-premises and cloud. By type, the market is categorised into neutral and custom and non-neural.

 

The various language types covered in the market report are English, Chinese, Spanish, Hindi, and Arabic, among others. Based on enterprise size, the text-to-speech market segmentation includes large enterprises and small and medium-sized enterprises.

 

By end use, the market divisions include banking, financial services and insurance (BFSI), travel and tourism, IT and telecom, education, retail and consumer goods, automotive and transportation, and media and entertainment, among others. The major regional markets for text-to-speech include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global text-to-speech market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

 

  • IBM Corporation 
  • Microsoft Corporation 
  • Google, LLC 
  • Amazon Web Services, Inc. 
  • Acapela Group 
  • CereProc Ltd 
  • iFLYTEK Co., Ltd. 
  • Sensory Inc. 
  • ReadSpeaker B.V. 
  • Others

 

Market Share by End Use

As per the text-to-speech market analysis, the use of TTS in the education sector is significantly increasing amid the rising focus to surge the inclusivity of learning. The technology serves as a boon for improving learning outcomes and reading accessibility among students struggling with emotional disabilities such as autism as well as diagnosed learning disabilities such as dyslexia and ADHD.

 

Besides, TTS technology is used to create audio versions of learning materials to enhance their accessibility on different devices, making learning more efficient for students. With growing interest in multilingualism, the usage of TTS technology to ease the process of learning new languages by improving pronunciation and bridging the gap between written and spoken languages is likely to surge in the coming years.

 

Market Share by Region

The Asia Pacific holds a major text-to-speech market share due to the rising adoption of voice technology in the region. Rapid digitisation and rising internet penetration, coupled with the growing demand for personalised services, in the region are prompting businesses to deploy TTS technology. In addition, the emergence of voice technology start-ups in countries such as India is likely to favour the market development in the coming years.

 

Competitive Landscape

Acapela Group is a leading voice solutions company that was established in 2003 after the merger of European companies- Elan speech, Babel Technologies, and Infovox. Its AI-powered speech synthesis and digital voices are used in customer interaction, public transportation, and assistive communication. Its web service, My-own-voice, creates personalised synthetic voice to support customers with voice impairments.

 

Sensory Inc., headquartered in California, the United States, is a company that is engaged in the development and licensing of technologies aimed at natural language understanding, sound identification, voice and face biometrics, and speech recognition, among others. Since its establishment in 1994, the company’s products have been used in wake word technology, consumer electronics, and sensor/speech combinations, among others.

 

CereProc Ltd is a designer and creator of text-to-speech solutions that was founded in 2005. The UK-based company actively collaborates with governments, organisations, and academic institutions to develop innovative speech synthesis systems that can offer realistic voices. Its flagship product, CereVoice, is widely used in the marketing, communications, robotics, healthcare, and education sectors.

 

Other text-to-speech market players include IBM Corporation, Microsoft Corporation, Google, LLC, Amazon Web Services, Inc., iFLYTEK Co., Ltd., and ReadSpeaker B.V., among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Offering
  • Mode of Deployment
  • Type
  • Language Type
  • Enterprise Size
  • End Use
  • Region
Breakup by Offering
  • Software/Solution
  • Service
Breakup by Mode of Deployment
  • On-Premises
  • Cloud
Breakup by Type
  • Neural and Custom
  • Non-Neural
Breakup by Language Type
  • English
  • Chinese
  • Spanish
  • Hindi
  • Arabic
  • Others
Breakup by Enterprise Size
  • Large Enterprises
  • Small and Medium-Sized Enterprises
Breakup by End Use
  • Banking, Financial Services and Insurance (BFSI)
  • Travel and Tourism
  • IT and Telecom
  • Education
  • Retail and Consumer Goods
  • Automotive and Transportation
  • Media and Entertainment
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • IBM Corporation 
  • Microsoft Corporation 
  • Google, LLC 
  • Amazon Web Services, Inc. 
  • Acapela Group 
  • CereProc Ltd 
  • iFLYTEK Co., Ltd. 
  • Sensory Inc. 
  • ReadSpeaker B.V. 
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description   
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Text-to-Speech Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Text-to-Speech Market (2018-2022) 
    8.3    Global Text-to-Speech Market Forecast (2023-2028)
    8.4    Global Text-to-Speech Market by Offering
        8.4.1    Software/Solution
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Service
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
    8.5    Global Text-to-Speech Market by Mode of Deployment 
        8.5.1    On-Premises
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    Cloud
            8.5.2.1    Historical Trend (2018-s2022)
            8.5.2.2    Forecast Trend (2023-2028)
    8.6    Global Text-to-Speech Market by Type
        8.6.1    Neural and Custom
            8.6.1.1    Historical Trend (2018-2022)
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Non-Neural
            8.6.2.1    Historical Trend (2018-2022)
            8.6.2.2    Forecast Trend (2023-2028)
    8.7    Global Text-to-Speech Market by Language Type
        8.7.1    English
            8.7.1.1    Historical Trend (2018-2022)
            8.7.1.2    Forecast Trend (2023-2028)
        8.7.2    Chinese
            8.7.2.1    Historical Trend (2018-2022)
            8.7.2.2    Forecast Trend (2023-2028)
        8.7.3    Spanish
            8.7.3.1    Historical Trend (2018-2022)
            8.7.3.2    Forecast Trend (2023-2028)
        8.7.4    Hindi
            8.7.4.1    Historical Trend (2018-2022)
            8.7.4.2    Forecast Trend (2023-2028)
        8.7.5    Arabic
            8.7.5.1    Historical Trend (2018-2022)
            8.7.5.2    Forecast Trend (2023-2028)
        8.7.6    Others
    8.8    Global Text-to-Speech Market by Enterprise Size
        8.8.1    Large Enterprises
            8.8.1.1    Historical Trend (2018-2022)
            8.8.1.2    Forecast Trend (2023-2028)
        8.8.2    Small and Medium-Sized Enterprises
            8.8.2.1    Historical Trend (2018-2022)
            8.8.2.2    Forecast Trend (2023-2028)
    8.9    Global Text-to-Speech Market by End Use
        8.9.1    Banking, Financial Services and Insurance (BFSI)
            8.9.1.1    Historical Trend (2018-2022)
            8.9.1.2    Forecast Trend (2023-2028)
        8.9.2    Travel and Tourism
            8.9.2.1    Historical Trend (2018-2022)
            8.9.2.2    Forecast Trend (2023-2028)
        8.9.3    IT and Telecom
            8.9.3.1    Historical Trend (2018-2022)
            8.9.3.2    Forecast Trend (2023-2028)
        8.9.4    Education
            8.9.4.1    Historical Trend (2018-2022)
            8.9.4.2    Forecast Trend (2023-2028)
        8.9.5    Retail and Consumer Goods
            8.9.5.1    Historical Trend (2018-2022)
            8.9.5.2    Forecast Trend (2023-2028)
        8.9.6    Automotive and Transportation
            8.9.6.1    Historical Trend (2018-2022)
            8.9.6.2    Forecast Trend (2023-2028)
        8.9.7    Media and Entertainment
            8.9.7.1    Historical Trend (2018-2022)
            8.9.7.2    Forecast Trend (2023-2028)
        8.9.8    Others
    8.10    Global Text-to-Speech Market by Region
        8.10.1    North America
            8.10.1.1    Historical Trend (2018-2022)
            8.10.1.2    Forecast Trend (2023-2028)
        8.10.2    Europe
            8.10.2.1    Historical Trend (2018-2022)
            8.10.2.2    Forecast Trend (2023-2028)
        8.10.3    Asia Pacific
            8.10.3.1    Historical Trend (2018-2022)
            8.10.3.2    Forecast Trend (2023-2028)
        8.10.4    Latin America
            8.10.4.1    Historical Trend (2018-2022)
            8.10.4.2    Forecast Trend (2023-2028)
        8.10.5    Middle East and Africa
            8.10.5.1    Historical Trend (2018-2022)
            8.10.5.2    Forecast Trend (2023-2028)
9    North America Text-to-Speech Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
10    Europe Text-to-Speech Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022)
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022)
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022)
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022)
        10.4.2    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Text-to-Speech Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022)
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022)
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022)
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022)
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022)
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Text-to-Speech Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022)
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022)
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022)
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Text-to-Speech Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2022)
        13.1.2    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2022)
        13.2.2    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2022)
        13.3.2    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2022)
        13.4.2    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    IBM Corporation 
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Microsoft Corporation 
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Google, LLC 
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Amazon Web Services, Inc. 
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Acapela Group 
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    CereProc Ltd 
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    iFLYTEK Co., Ltd. 
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Sensory Inc. 
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    ReadSpeaker B.V. 
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Text-to-Speech Market: Key Industry Highlights, 2018 and 2028
2.    Global Text-to-Speech Historical Market: Breakup by Offering (USD Billion), 2018-2022
3.    Global Text-to-Speech Market Forecast: Breakup by Offering (USD Billion), 2023-2028
4.    Global Text-to-Speech Historical Market: Breakup by Mode of Deployment (USD Billion), 2018-2022
5.    Global Text-to-Speech Market Forecast: Breakup by Mode of Deployment (USD Billion), 2023-2028
6.    Global Text-to-Speech Historical Market: Breakup by Type (USD Billion), 2018-2022
7.    Global Text-to-Speech Market Forecast: Breakup by Type (USD Billion), 2023-2028
8.    Global Text-to-Speech Historical Market: Breakup by Language Type (USD Billion), 2018-2022
9.    Global Text-to-Speech Market Forecast: Breakup by Language Type (USD Billion), 2023-2028
10.    Global Text-to-Speech Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2022
11.    Global Text-to-Speech Market Forecast: Breakup by Enterprise Size (USD Billion), 2023-2028
12.    Global Text-to-Speech Historical Market: Breakup by End Use (USD Billion), 2018-2022
13.    Global Text-to-Speech Market Forecast: Breakup by End Use (USD Billion), 2023-2028
14.    Global Text-to-Speech Historical Market: Breakup by Region (USD Billion), 2018-2022
15.    Global Text-to-Speech Market Forecast: Breakup by Region (USD Billion), 2023-2028
16.    North America Text-to-Speech Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    North America Text-to-Speech Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Europe Text-to-Speech Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Europe Text-to-Speech Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Asia Pacific Text-to-Speech Historical Market: Breakup by Country (USD Billion), 2018-2022
21.    Asia Pacific Text-to-Speech Market Forecast: Breakup by Country (USD Billion), 2023-2028
22.    Latin America Text-to-Speech Historical Market: Breakup by Country (USD Billion), 2018-2022
23.    Latin America Text-to-Speech Market Forecast: Breakup by Country (USD Billion), 2023-2028
24.    Middle East and Africa Text-to-Speech Historical Market: Breakup by Country (USD Billion), 2018-2022
25.    Middle East and Africa Text-to-Speech Market Forecast: Breakup by Country (USD Billion), 2023-2028
26.    Global Text-to-Speech Market Structure

Key Questions Answered in the Report

What was the global text-to-speech market value in 2022?

In 2022, the market attained a value of nearly USD 3.02 billion.

What is the growth rate of the global text-to-speech market?

The market is assessed to grow at a CAGR of 15.3% between 2023 and 2028.

What is the forecast outlook of the global text-to-speech market for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 7.09 billion by 2028.

What are the major market drivers?

The major market drivers are the rising use of TTS technology in gaming and the increasing demand for personalised customer experiences.

What are the key trends of the market?

The key trends supporting the market growth are the rising demand for voice technology, the increasing use of TTS in the education sector, and technological advancements and innovations.

What are the major regional markets of text-to-speech, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major end uses of text-to-speech?

The major end uses of text-to-speech are banking, financial services and insurance (BFSI), travel and tourism, IT and telecom, education, retail and consumer goods, automotive and transportation, and media and entertainment, among others.

Who are the key players, according to the text-to-speech market report?

The major players in the market are IBM Corporation, Microsoft Corporation, Google, LLC, Amazon Web Services, Inc., Acapela Group, CereProc Ltd, iFLYTEK Co., Ltd., Sensory Inc., and ReadSpeaker B.V., among others.

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