Vancouver, BC -- (SBWIRE) -- 04/15/2021 -- The technology is helpful in communicating with users when reading content or messages on a screen is inconvenient or not possible. This technology opens up information and applications for disabled people in new ways, and helps those individuals who are unable to read text on a screen to a great extent. Advancements in technology has resulted in further development of more innovative features in text-to-speech tools. Some market players have improved the optical character recognition (OCR) feature, which allows text to speech technology to read text from images aloud. For instance, a user can take a photograph of a street sign and have the words be read out in audio format.

Text-to-speech technology is used in the healthcare sector to increase a patient's understanding of complex medical terms. It can further improve digital health technology in healthcare by speech-enabling websites, health apps, nurse call systems in hospitals, and portable health devices synthetic voices that are very humanlike.

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Some Key Highlights in the Report

In January 2021, Facebook launched an updated feature of Automatic Alt Text (AAT), which offers details regarding an image or photograph in audio or voice for benefit of blind and visually impaired users. The tool uses computer vision technology to automatically create descriptions.
Software segment revenue growth has been increasing significantly due to rising deployment as a teaching aid for visually-impaired individuals or for persons with dyslexia. The technology is also useful for listening to content from documents while multi-tasking. The availability of free software online is another factor propelling adoption and growth of this segment.
Cloud segment revenue is expected to register a relatively higher growth rate during the forecast period. Deployment of cloud-based technology has increased scalability, enabled 24/7 services, and improved IT security. Rising adoption of Software as a Service (SaaS) by large organizations is another key factors driving revenue growth of the cloud segment.
Key players in the market include IBM Corporation, Google Inc., Nuance Communication, Amazon.com, LumenVox LLC, SESTEK, Readspeaker, Sensory Inc., Acapela Group, and Nextup Technologies.

Text-to-Speech Market Segmentation:

Emergen Research has segmented the global text-to-speech market on the basis of offering, deployment mode, voice type, organization size, vertical, and region:

Offering Outlook (Revenue, USD Billion; 2021–2028)
Software
Services
Software-as-a-Service
Support, Implementation & Consulting

Deployment Mode Outlook (Revenue, USD Billion; 2021–2028)
On-premise
Cloud-based

Voice Type Outlook (Revenue, USD Billion; 2021–2028)
Neural and Custom Voice
Non-Neural

Organization Size Outlook (Revenue, USD Billion; 2021–2028)
Small and Medium-Sized Enterprises
Large Enterprises

Vertical Outlook (Revenue, USD Billion; 2021–2028)
Automotive & Transportation
Consumer
BFSI
Healthcare
Education
Retail
Travel and Hospitality
Assistant tool for visually impaired or disabilities (Dyslexic Reader)
Enterprises
Others (Government and Legal)

Key Regions analyzed in the report include:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Elucidating the competitive scenario of the Global Text-to-Speech Market:

The comprehensive global Text-to-Speech market analysis includes meaningful insights into the competitive spectrum of this business sphere. It goes on to enlist the detailed profiles of each market competitor.
The latest report includes the industry share, production facilities, development prospects,and geographies served by each market player.
The study also showcases the extensive product portfolios of the prominent market contenders and offers critical data and information about the application scope, as well as specifications of these products.
In addition, the study presents the fundamental market insights, pricing range of products offered by these companies, and the gross profits and losses experienced by these players throughout their market tenures.

Table of Content

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope  
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Text-to-Speech Market Segmentation & Impact Analysis
    4.1. Text-to-Speech Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. Rising preference for handheld devices
                    4.2.2.2. Increased government spending on education of differently-abled students 
          4.2.3. Market restraints analysis 
                    4.2.3.1. Complexity in generating prosody and pronunciation of naturally occurring speech
    4.3. Technological Insights 
    4.4. Regulatory Framework
    4.5. Porter's Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

Chapter 5. Text-to-Speech Market By Offering Insights & Trends, Revenue (USD Billion)
    5.1. Offering Dynamics & Market Share, 2020 & 2028
          5.1.1. Software
          5.1.2. Services
                    5.1.2.1. Software-as-a-Service
                    5.1.2.2. Support, Implementation & Consulting

CONTINUED..!!

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