Text-to-Speech

Text-to-Speech

Global Text-to-Speech Market to Reach US$9.3 Billion by 2030

The global market for Text-to-Speech estimated at US$3.8 Billion in the year 2023, is expected to reach US$9.3 Billion by 2030, growing at a CAGR of 13.4% over the analysis period 2023-2030. Software / Solution Component, one of the segments analyzed in the report, is expected to record a 12.9% CAGR and reach US$5.9 Billion by the end of the analysis period. Growth in the Services Component segment is estimated at 14.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$994.7 Million While China is Forecast to Grow at 17.5% CAGR

The Text-to-Speech market in the U.S. is estimated at US$994.7 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2030 trailing a CAGR of 17.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 9.0% and 11.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.2% CAGR.

Global Text-to-Speech Market - Key Trends and Drivers Summarized

How Is Text-to-Speech Enhancing Accessibility and Automation?

Text-to-speech (TTS) technology converts written text into spoken words, offering accessibility, automation, and convenience across various applications. It is used in sectors like education, healthcare, customer service, automotive, and consumer electronics to provide voice assistance, enhance user experience, and support individuals with visual or reading impairments. With advancements in artificial intelligence (AI) and natural language processing (NLP), TTS has evolved to deliver more natural-sounding speech, improved language support, and better speech synthesis. As industries focus on user-friendly interfaces and enhanced accessibility, the demand for TTS solutions has increased significantly.

What Are the Key Segments in the Text-to-Speech Market?

Deployment types include cloud-based and on-premise solutions, with cloud-based solutions holding the largest market share due to their flexibility, scalability, and ease of integration. Applications cover education, healthcare, customer service, automotive, and personal assistants, with customer service representing a significant segment driven by the demand for automated voice solutions in call centers and virtual assistants. End-users include educational institutions, healthcare providers, businesses, automotive manufacturers, and individual users, with businesses dominating the segment as they integrate TTS for customer engagement, virtual assistants, and compliance with accessibility standards.

How Is Text-to-Speech Integrated Across Industries?

In the education sector, TTS is used to create audiobooks, e-learning content, and interactive tools, supporting students with learning disabilities and enhancing digital education. In healthcare, TTS supports patient engagement, medical devices, and healthcare portals by providing voice-based information, improving patient experience and accessibility. In customer service, TTS is integrated into IVR systems, chatbots, and virtual assistants, enabling automated customer interactions, reducing response times, and improving user satisfaction. Additionally, in the automotive industry, TTS provides voice commands for navigation, infotainment systems, and hands-free control, enhancing driver safety and convenience.

What Factors Are Driving the Growth in the Text-to-Speech Market?

The growth in the Text-to-Speech market is driven by several factors, including increasing demand for accessible digital content, advancements in AI-driven speech synthesis, and rising adoption of voice-enabled devices. Innovations like multilingual support, neural voice models, and personalized speech synthesis have supported broader applications across industries. The focus on improving user experience, enhancing accessibility, and supporting automation in customer service has further fueled demand, as TTS solutions provide critical voice capabilities. Additionally, expanding e-learning, growing healthcare digitization, and rising investments in voice-enabled technologies have contributed to market growth, encouraging the deployment of advanced TTS systems across sectors.

SCOPE OF STUDY:

The report analyzes the Text-to-Speech market in terms of US$ Million by the following Component; End-Use, and Geographic Regions/Countries:

Segments:
Component (Software / Solution, Services); End-Use (Consumer Electronics, Automotive & Transportation, Enterprise, Healthcare, Finance, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 36 Featured) -

• Acapela Group
• CereProc Ltd.
• Ispeech, Inc.
• Lumenvox, LLC
• Microsoft Corporation
• Nuance Communication
• ReadSpeaker Holding BV
• TextSpeak Corporation
• Sensory Inc.
• NextUp Technologies LLC (NextUp.com)

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