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North America Text To Speech (TTS) Software Market – Industry Trends and Forecast to 2030

Semiconductors and Electronics

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North America Text To Speech (TTS) Software Market – Industry Trends and Forecast to 2030

  • Semiconductors and Electronics
  • Upcoming Report
  • Oct 2023
  • North America
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

North America Text To Speech (TTS) Software Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 1,875.22 USD Billion
Diagram Market Size (Forecast Year) USD 5,867.28 USD Billion
Diagram CAGR %

Major Markets Players

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North America 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) - Industry Trends and Forecast To 2030.

North America Text To Speech (TTS) Software Market

North America Text To Speech (TTS) Software Market Analysis and Size

An increase in governmental funding on education for differently-abled students is anticipated to propel the market significantly. Company’s 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 North America 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.

Data Bridge Market Research analyses that the North America text to speech (TTS) software market was valued at USD 1,875.22 million in 2022, and is expected to reach USD 5,867.28 million by 2030, registering a CAGR of 15.3% during the forecast period of 2023-2030. “Software” dominates the offering segment of the North America text to speech (TTS) software market owing the the adoption of various application across the industries. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

North America Text To Speech (TTS) Software Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD billion, Volumes in Units, Pricing in USD

Segments Covered

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)

Countries Covered

U.S., Canada, and Mexico

Market Players Covered

Google LLC (U.S.), Apple, Inc. (U.S.),Amazon Web Services, Inc. (U.S.)

Microsoft (U.S.), IBM (U.S.), LumenVox LLC (U.S.), Sensory, Inc. (U.S.), Sestek (Turkey), Dolbey Systems, Inc. (U.S.), Nuance Communications, Inc. (U.S.), Voxware, (U.S)

Market Opportunities

  • Growth in the number of research and development proficiencies
  • Surging improvement in software product design
  • Growing adoption of new and advanced technology

Market Definition

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.

North America Text To Speech (TTS) Software Market Dynamics

Drivers

  • Rising Demand of Text To Speech (TTS) Software in Educational Sector

Tech-based education is taking extensive place globally as a result of this the share North America text to speech (TTS) software market has augmented a lot. Numerous school or university trainers and educators are helping students who are not capable of reading and struggling to understand the old traditional culture with modern technology. As a result of this, the provider offers such programs in which students can use text-to-speech software and become more independent. These programs are used to listen to passages, sentences or key words, enlarge the text quickly and help in easy usage of Text-to-Speech software which enlarges the market share.

  • Increasing Numbers of Geriatric Population

The continuous growth in the age of above 60 years people have generate problems of eyesight due to which text-to-speech (TTS) software technology aids them in understanding the sentences, words. This software technology becomes useful for people with reduced vision owing to this there is an opportunity for the North America text to speech (TTS) software market which will drive the market growth rate.

Opportunities

  • Rising Demand for Text To Speech (TTS) Software in Numerous Industry

Nowadays, text-to-speech (TTS) technology is no longer inadequate to exceptional applications such as for helping people with disabilities which is becoming pervasive in consumer applications. From Google search results, TTS has numerous usage cases such as business, communication, learning, and content distribution. As a result of this increase the demand for the text to speech (TTS) software which will create lucrative opportunities for the market growth rate,

  • Rising Requirement for Automation in Text To Speech (TTS) Software

The need for automation in TTS applications in business and consumer technology is a major factor which will create new and ample opportunities for the market growth. One important instance, is cloud computing services that provide APIs which can convert text or message into natural-sounding speech. These frequently come in voicebots, which can be a progressive feature in customer experience management tools. Moreover, text to speech (TTS) software is used in voice generation in internet of things devices such as in delivering accessible electronic program guides (EPGs) and personal assistants.

 Restraints/ Challenges

  • High Cost Associated with Text To Speech (TTS) Software

The high purchasing cost and installation cost of text to speech (TTS) software will act as major market restraints and obstruct the market's growth in the abovementioned forecasted period of 2023 to 2030.

  • Threat of Hackers and Cyber-Attacks

The risk of cyber-attacks and hackers also hampers the consumers' perception for the dependability of text to speech (TTS) software which is expected to be the major challenging factor for the market growth.

This North America text to speech (TTS) software market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the North America text to speech (TTS) software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

  • In 2021, Amazon Polly prolonged its text-to-speech offering with the launch of Aria, a neural text-to-speech voice. Neural Text-To-Speech (NTTS) provides significant improvements in speech quality. It surges expressiveness and naturalness, two major factors in synthesizing lifelike speech that is getting nearer than ever from human voice

North America Text To Speech (TTS) Software Market Scope

The North America text to speech (TTS) software market is segmented on the basis of offering, deployment model, organization size, voice type, operating device, file format and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Offering

  • Software and Solution
  • Services

Deployment Model

  • Cloud
  • On-premises

Organization Size

  • Large Enterprise
  • Small And Medium-Sized Enterprises (SMEs)

Voice Type

  • Neural and Customer Voice
  • Non-Neural

Operating Device

  • Computers
  • Tablets
  • Mobile Phones

 File Format

  • mp3
  • mp4
  • VOX
  • WMA
  • 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
  • Others

North America Text To Speech (TTS) Software Market Region Analysis/Insights

The North America text to speech (TTS) software market is analysed and market size insights and trends are provided by country, offering, and deployment model, and organization size, voice type, operating device, file format and end use, as referenced above.  

The countries covered in the North America text to speech (TTS) software market report are U.S., Canada, and Mexico

U.S. is the fastest growing and is anticipated to dominate North America text to speech (TTS) software market owing to the extreme surge in the availability of cost-efficient and good quality cloud solutions.

The region 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 downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.   

Competitive Landscape and North America Text To Speech (TTS) Software Market Share Analysis

The North America text to speech (TTS) software market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the North America text to speech (TTS) software market.

Some of the major players operating in the North America text to speech (TTS) software market are:

  • Google LLC (U.S.)
  • Apple, Inc. (U.S.)
  • Amazon Web Services, Inc. (U.S.)
  • Microsoft (U.S.)
  • IBM (U.S.)
  • LumenVox LLC (U.S.)
  • Sensory, Inc. (U.S.)
  • Sestek (Turkey)
  • Dolbey Systems, Inc. (U.S.)
  • Nuance Communications, Inc. (U.S.)
  • Voxware, (U.S.)
  • Cisco Systems Inc. (U.S.)


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FREQUENTLY ASK QUESTIONS

The North America Text To Speech (TTS) Software Market will be worth USD 5,867.28 million by 2030.
The North America Text To Speech (TTS) Software Market growth rate is 15.3% during the forecast period.
Rising Demand of Text To Speech (TTS) Software in Educational Sector & Increasing Numbers of Geriatric Population are the growth drivers of the North America Text To Speech (TTS) Software Market.
The offering, deployment model, organization size, voice type, operating device, file format and end user are the factors on which the North America Text To Speech (TTS) Software Market research is based.
The Amazon Polly prolonged its text-to-speech offering with the launch of Aria, a neural text-to-speech voice & Neural Text-To-Speech (NTTS) provides significant improvements in speech quality are the latest developments in the North America Text To Speech (TTS) Software Market.
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