Reports
Reports
Sale
The global text-to-speech market reached approximately USD 3.45 billion in 2023. The market is assessed to grow at a CAGR of 23.3% between 2024 and 2032 to attain a value of around USD 21.71 billion by 2032.
The rising emphasis on personalised customer experience is one of the key text-to-speech market trends. TTS technology can enhance conversational skills, facilitate the automation of routine calls, and provide voice-enabled chatbots to enhance customer engagement and appeal to visually impaired individuals. By using text-to-speech technology, businesses save on time and cost otherwise invested in hiring voice talent. TTS technology helps companies generate high-quality voiceovers without needing expensive voice actors.
Some of the factors driving the text-to-speech market growth are the rising need for personalised customer services, rapid digitalisation, the rising demand for consumer electronics, and the need to help people facing reading difficulties.
Text-to-Speech Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Text-to-Speech Market Analysis
8.1 Key Industry Highlights
8.2 Global Text-to-Speech Market (2018-2023)
8.3 Global Text-to-Speech Market Forecast (2024-2032)
8.4 Global Text-to-Speech Market by Offering
8.4.1 Software/Solution
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Service
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Text-to-Speech Market by Mode of Deployment
8.5.1 On-Premises
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Cloud
8.5.2.1 Historical Trend (2018-s2022)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Text-to-Speech Market by Type
8.6.1 Neural and Custom
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Non-Neural
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Text-to-Speech Market by Language Type
8.7.1 English
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Chinese
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Spanish
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Hindi
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Arabic
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Others
8.8 Global Text-to-Speech Market by Enterprise Size
8.8.1 Large Enterprises
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Small and Medium-Sized Enterprises
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.9 Global Text-to-Speech Market by End Use
8.9.1 Banking, Financial Services and Insurance (BFSI)
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Travel and Tourism
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 IT and Telecom
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Education
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Retail and Consumer Goods
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
8.9.6 Automotive and Transportation
8.9.6.1 Historical Trend (2018-2023)
8.9.6.2 Forecast Trend (2024-2032)
8.9.7 Media and Entertainment
8.9.7.1 Historical Trend (2018-2023)
8.9.7.2 Forecast Trend (2024-2032)
8.9.8 Others
8.10 Global Text-to-Speech Market by Region
8.10.1 North America
8.10.1.1 Historical Trend (2018-2023)
8.10.1.2 Forecast Trend (2024-2032)
8.10.2 Europe
8.10.2.1 Historical Trend (2018-2023)
8.10.2.2 Forecast Trend (2024-2032)
8.10.3 Asia Pacific
8.10.3.1 Historical Trend (2018-2023)
8.10.3.2 Forecast Trend (2024-2032)
8.10.4 Latin America
8.10.4.1 Historical Trend (2018-2023)
8.10.4.2 Forecast Trend (2024-2032)
8.10.5 Middle East and Africa
8.10.5.1 Historical Trend (2018-2023)
8.10.5.2 Forecast Trend (2024-2032)
9 North America Text-to-Speech Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Text-to-Speech Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Text-to-Speech Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Text-to-Speech Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Text-to-Speech Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 IBM Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Microsoft Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Google, LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Amazon Web Services, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Acapela Group
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 CereProc Ltd
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 iFLYTEK Co., Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Sensory Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 ReadSpeaker B.V.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Text-to-Speech Market: Key Industry Highlights, 2018 and 2032
2. Global Text-to-Speech Historical Market: Breakup by Offering (USD Million), 2018-2023
3. Global Text-to-Speech Market Forecast: Breakup by Offering (USD Million), 2024-2032
4. Global Text-to-Speech Historical Market: Breakup by Mode of Deployment (USD Million), 2018-2023
5. Global Text-to-Speech Market Forecast: Breakup by Mode of Deployment (USD Million), 2024-2032
6. Global Text-to-Speech Historical Market: Breakup by Type (USD Million), 2018-2023
7. Global Text-to-Speech Market Forecast: Breakup by Type (USD Million), 2024-2032
8. Global Text-to-Speech Historical Market: Breakup by Language Type (USD Million), 2018-2023
9. Global Text-to-Speech Market Forecast: Breakup by Language Type (USD Million), 2024-2032
10. Global Text-to-Speech Historical Market: Breakup by Enterprise Size (USD Million), 2018-2023
11. Global Text-to-Speech Market Forecast: Breakup by Enterprise Size (USD Million), 2024-2032
12. Global Text-to-Speech Historical Market: Breakup by End Use (USD Million), 2018-2023
13. Global Text-to-Speech Market Forecast: Breakup by End Use (USD Million), 2024-2032
14. Global Text-to-Speech Historical Market: Breakup by Region (USD Million), 2018-2023
15. Global Text-to-Speech Market Forecast: Breakup by Region (USD Million), 2024-2032
16. North America Text-to-Speech Historical Market: Breakup by Country (USD Million), 2018-2023
17. North America Text-to-Speech Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Europe Text-to-Speech Historical Market: Breakup by Country (USD Million), 2018-2023
19. Europe Text-to-Speech Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Asia Pacific Text-to-Speech Historical Market: Breakup by Country (USD Million), 2018-2023
21. Asia Pacific Text-to-Speech Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Latin America Text-to-Speech Historical Market: Breakup by Country (USD Million), 2018-2023
23. Latin America Text-to-Speech Market Forecast: Breakup by Country (USD Million), 2024-2032
24. Middle East and Africa Text-to-Speech Historical Market: Breakup by Country (USD Million), 2018-2023
25. Middle East and Africa Text-to-Speech Market Forecast: Breakup by Country (USD Million), 2024-2032
26. Global Text-to-Speech Market Structure
In 2023, the market attained a value of nearly USD 3.45 billion.
The text-to-speech market is assessed to grow at a CAGR of 23.3% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 21.71 billion by 2032.
Text-to-speech (TTS) is an assistive technology that converts digital text into audio. It is also called read-aloud technology.
The major benefits of the technology include improved customer satisfaction, and personalised communication based on user preference for voice and language.
The major drivers of the market include the increasing demand for personalised customer experiences, rapid digitalisation, the rising demand for consumer electronics, and the need to help people facing reading difficulties.
The key trends supporting the market growth are the rising demand for voice technology, the increasing use of TTS in the end-use sectors, and technological advancements and innovations.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major end uses of text-to-speech are banking, financial services and insurance (BFSI), travel and tourism, IT and telecom, education, retail and consumer goods, automotive and transportation, and media and entertainment, among others.
The major players in the market are IBM Corporation, Microsoft Corporation, Google, LLC, Amazon Web Services, Inc., Acapela Group, CereProc Ltd, iFLYTEK Co., Ltd., Sensory Inc., and ReadSpeaker B.V., among others.
Datasheet
Single User License
Five User License
Corporate License
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.