Middle East and Africa Text to Speech (TTS) Software Market, By Offering (Software and Solution and Services), Deployment Model (Cloud And On-premises), Organization Size (Large Enterprise And Small And Medium-Sized Enterprises (SMEs)), Voice Type (Neural And Customer Voice And Non-Neural), Operating Device (Computers, Tablets, And Mobile Phones), File Format (mp3, mp4, VOX, WMA, and Others), End User (Banking, Financial Services And Insurance (BFSI), Government, Healthcare, Consumer Electronics, Transportation And Automotive, Education, Travel And Hospitality, Retail And E-Commerce, Enterprises And Others), Country (Saudi Arabia, South Africa, UAE, Egypt, Israel, Rest of the Middle East and Africa) Industry Trends and Forecast To 2029
Market Analysis and Insights : Middle East and Africa Text to Speech (TTS) Software Market
The Middle East and Africa text to speech (TTS) software market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 14.5% in the forecast period of 2022 to 2029 and is expected to reach USD 553.69 million by 2029. Extensive usage of smartphones and other digital devices with internet facilities is boosting the market.
Text to speech is a type of assistive technology that is capable of reading digital text aloud with the help of a voice assistant. Technically, it is a natural language modeling process that requires changing units of text into units of speech for audio presentation. This technology is considered to be one of the most important assistances in the upcoming days. With due advancements in technology, text to speech technology has also evolved along with the association of the modern-day technological giants like the Internet of things (IoT), artificial intelligence (AI), machine learning (MI), among others.
An increase in governmental funding on education for differently-abled students is anticipated to propel the market significantly. Companies' investment in enhancing the standard of speech quality with advanced technological solutions involving cloud computing, artificial intelligence, among others, is also expected to drive the Middle East and Africa text to speech (TTS) software market. On the other hand, complexity in generating pronunciation of naturally occurring speech is expected to act as one of the major restraints to the market.
Availability of cost-effective cloud solutions is considered to be an opportunity to the market. However, loss of emotion and attraction towards digital content is expected to act as a major challenge to the market.
The Middle East and Africa text to speech (TTS) software market report provide details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Middle East and Africa text to speech (TTS) software market scenario contact Data Bridge Market Research for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
Text to speech (TTS) Software Market Scope and Market Size
Middle East and Africa text to speech (TTS) software market is segmented into seven notable segments, which are based on the offering, deployment model, organization size, voice type, operating device, file format, and end-user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of offering, the Middle East and Africa text to speech (TTS) software market is segmented into software and solution and services. In 2022, software and solution is expected to dominate the market as text-to-speech software is easily attainable and available, as well as being very cost-effective.
- On the basis of the deployment model, the Middle East and Africa text to speech (TTS) software market is segmented into cloud and on-premises. In 2022, the cloud holds the highest segment as cloud platforms are massive data storage platforms that may be accessed from anywhere through digital services.
- On the basis of organization size, the Middle East and Africa text to speech (TTS) software market is segmented into large enterprise and small and medium-sized enterprises. In 2022, the large enterprise is expected to dominate the market as the large businesses are linked to superior technical benefits and a broader product portfolio.
- On the basis of voice type, the Middle East and Africa text to speech (TTS) software market is segmented into neural and customer voice and non neural. In 2022, neural is expected to dominate the market because neural networks are linked to cloud platforms, they are capable of producing higher-quality solutions.
- On the basis of the operating device, the Middle East and Africa text to speech (TTS) software market is segmented into computer, mobile phone, and tablet. In 2022, the computer segment is expected to dominate the market as computers are related to better capacity limits and software programming support.
- On the basis of file format, the Middle East and Africa text to speech (TTS) software market into mp3, mp4, WMA, VOX, and others. In 2022, mp3 is expected to dominate the market on account of better sound quality and less memory utilization.
- On the basis of end-user, the Middle East and Africa text to speech (TTS) software market into banking, financial services and insurance (BFSI), government, transportation and automotive, healthcare, travel and hospitality, retail and e-commerce, enterprises, consumer electronics, education, and others. In 2022, consumer electronics is expected to dominate the market because of the necessity of text to speech innovation in different consumer electronics items such as PCs, scanners, voice recognition tools, among others.
Middle East and Africa Text to Speech (TTS) Software Market Country Level Analysis
The Middle East and Africa text to speech (TTS) software market is analyzed, and market size information is provided by the country, offering, deployment model, organization size, voice type, operating device, file format, and end-user as referenced above.
The countries covered in the Middle East and Africa text to speech (TTS) software market report are South Africa, Israel, U.A.E., Saudi Arabia, Egypt, and the rest of the Middle East and Africa. U.A.E. is expected to dominate the Middle East and Africa region due to the rise in the usage of several digital devices like computers, mobile phones, among others.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of the Middle East and Africa brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Rise in Technological Advancement to Increase Vehicle Performance is Expected to Boost the Market Growth of Text to Speech (TTS) Software Market.
The text to speech (TTS) software market also provides you with a detailed market analysis for every country's growth in a particular market. Additionally, it provides detailed information regarding the market players' strategy and their geographical presence. The data is available for the historic period 2011 to 2020.
Competitive Landscape And Text to Speech (TTS) Software Market Share Analysis
Text to speech (TTS) software market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company's focus related to the text to speech (TTS) software market.
Some of the major players operating in the text to speech (TTS) software market are SESTEK, TextSpeak Corporation, IBM, Amazon Web Services, Inc., Facebook, Google (A subsidiary of Alphabet Inc.), among others.
Many contracts and agreements are also initiated by companies worldwide, which are also accelerating the text to speech (TTS) software market.
For instance,
- In March 2019, SESTEK's AI-powered technologies contributed to VakifBank's new banking assistant. The "mobile banking assistant," which went live in only eight months, can answer more than 5,000 questions and perform more than 300 banking transactions. This product execution improved the recognition of the company
- In July 2018, Textspeak Corporation released a new suite of robust long-range and encrypted wireless buttons and sensors with class-leading battery management capabilities to minimize system maintenance and downtime. This product launch improves the product portfolio of the company
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