Text-To-Speech Global Market By Offering, By Deployment Model, By Enterprise Size, By Solution, By Industry Vertical, Growth Analysis and Industry Forecast, 2024-2033 | Apple Inc., Amazon Polly, Neospeech, Acapela Group, SVOX

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Overview and Scope
Text-to-speech (TTS) is a technology that converts written text into spoken audio. It is a form of assistive technology designed to provide a voice to written content, making it accessible to individuals who may have difficulty reading or prefer to consume audio information.

Sizing and Forecast
The text-to-speech market size has grown rapidly in recent years. It will grow from $3.47 billion in 2023 to $4.15 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The growth in the historic period can be attributed to advancements in natural language processing, rising demand for accessibility solutions, increased adoption in e-learning and education, integration with virtual assistants, and expanding use in automotive applications.

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Segmentation & Regional Insights
The text-to-speech market covered in this report is segmented –
1) By Offering: Software, Services
2) By Deployment Mode: Cloud Based, On-Premise
3) By Industry Vertical: Automotive, Consumer Electronics, Healthcare, Education, Enterprise, Entertainment And Gaming, Other Industry Verticals

North America was the largest region in the text-to-speech market in 2023. The regions covered in the text-to-speech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing number of people with different learning disabilities is expected to propel the growth of the text-to-speech market going forward. Learning disabilities refer to a range of neurological conditions that affect an individual’s ability to acquire, process, or express information effectively. Text-to-speech (TTS) technology is used to help disabled individuals by providing access to information, facilitating reading and writing tasks, enhancing language learning, and promoting independence and empowerment. For instance, in December 2023, according to the National Health Service, a UK-based government department, learning disability and an ADHD diagnosis had a statistically significant increase each year, reaching 8.6% in 2022–23 and from 5.5% in previous years, which has increased 0.52% to 0.99% over the same period. Therefore, the increasing number of people with different learning disabilities is driving the growth of the text-to-speech market.

Key Industry Players
Major companies operating in the text-to-speech market report are Apple Inc., Google Cloud Text-to-Speech (Google), AT&T Natural Voices, Amazon Polly , IBM Watson Text to Speech (IBM), Cognitiveseo, Microsoft Azure Speech, Baidu , Experian Text-to-Speech (by Experian), iFlytek , Nuance Communications Inc., Neospeech, Acapela Group, SVOX, WaveNet, ReadSpeaker, CereProc, Dolbey Systems, Inc., LumenVox LLC, Yandex SpeechKit, Rhetorik , Loquendo , Mozilla TTS, Sensory, KobaSpeech

The text-to-speech market report table of contents includes:
1. Executive Summary