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What Is The Leading Driver Behind Rising Prevalence Of Learning Disabilities Drives Text-To-Speech Market Growth Market Expansion in 2025
Text-To-Speech
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How Large Will the Text-To-Speech Market Size By 2025?_x000D_
In the past few years, the text-to-speech market has seen quick expansion. It is projected to surge from $4.15 billion in 2024 to $4.92 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 18.4%. The upsurge during the past timeline can be connected to enhancements in natural language processing, a growing need for accessibility solutions, greater uptake in e-learning and education sectors, coordination with virtual assistants, and broadening applications in the automotive industry._x000D_
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How Big Is the Text-To-Speech Market Size Expected to Grow by 2029?_x000D_
The text-to-speech industry is projected to experience a swift expansion in the coming years, with its size escalating to $9.7 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 18.5%. This acceleration for the predicted timeframe may be linked to the speedy surge in areas such as virtual assistance, AI applications, IoT integration, healthcare expansion, accessibility solutions, as well as the growing needs in the gaming and entertainment industry and the continuous focus on multilingual abilities. The upcoming period sees significant trends like developments in neural TTS technology, edge computing integration, the focus on emotional intelligence within TTS, heightened multimodal experiences, and increased importance on security and privacy._x000D_
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Which Key Market Drivers Powering Text-To-Speech Market Expansion and Growth?_x000D_
The rise in the prevalence of various learning disabilities is projected to stimulate the development of the text-to-speech market. These disabilities, rooted in neurological disorders, impair an individual's ability to effectively understand, process, or express information. Text-to-speech (TTS) technology serves as a pivotal resource for disabled people, granting them access to information, simplifying reading and writing chores, bolstering language learning, and fostering self-sufficiency and empowerment. For example, as indicated by the National Health Service in the UK, the rate of learning disability and ADHD diagnoses showed a consistent rise each year, culminating in an 8.6% increase in 2022-23, up from 5.5% in the preceding years, signifying a growth of 0.52% to 0.99% within the same timeframe. Hence, the escalating number of individuals grappling with different learning disabilities is catalyzing the evolution of the text-to-speech market._x000D_
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Which Fast-Growing Trends Are Poised to Disrupt the Text-To-Speech Market?_x000D_
In order to maintain a competitive standing and cater to the growing need for enhanced speech capabilities, leading companies within the text-to-speech market are gravitating towards technological advancements such as Azure AI Speech. Azure AI Speech, a managed service, offers exceptional capabilities in the speech sector, encompassing speech-to-text, text-to-speech, speech translation, and speaker recognition. November 2023 marked the introduction of the Azure AI Speech tool by the US-based tech giant, Microsoft Corporation. Aimed at aiding developers in swiftly creating superior voice-activated applications, the tool offers a seamless experience through its speech studio for crafting custom models intended specifically for their apps. It also provides the ability for users to develop and incorporate these features in their apps using the Speech SDK, the Speech CLI, or the REST APIs. Additionally, it boasts customizable voices and models, flexible deployment choices, and comprehensive measures for privacy and security._x000D_
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What Are the Emerging Segments in the Text-To-Speech Market?_x000D_
The text-to-speechmarket covered in this report is segmented - _x000D_
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1) By Offering: Software, Services_x000D_
2) By Deployment Mode: Cloud Based, On-Premise_x000D_
3) By Industry Vertical: Automotive, Consumer Electronics, Healthcare, Education, Enterprise, Entertainment And Gaming, Other Industry Verticals_x000D_
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Subsegments:_x000D_
1) By Software: Speech Synthesis Software, Speech Recognition Software, Text-To-Speech APIS_x000D_
2) By Services: Custom Voice Development, Integration Services, Cloud-Based Text-To-Speech Services_x000D_
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Who Are the Global Leaders in the Text-To-Speech Market?_x000D_
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_x000D_
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Which are the Top Profitable Regional Markets for the Text-To-Speech Industry?_x000D_
North America was the largest region in the text-to-speech market in 2024. The regions covered in the text-to-speech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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