Text-to-Speech Market Top Manufacturers, Size, Business Scenario, Share, Growth, Insights, Industry Analysis, Trends and Forecasts Report 2027

Posted on Mar 10 2021 1:28 PM

"Text-to-Speech market size was valued at USD 2.35 Billion in 2020 and is expected to expand at a CAGR of 14.7% from 2020 to 2027. "

The latest market intelligence study on the Text-to-Speech market applies the best of both primary and secondary research techniques to bring to light the growth rate of the Text-to-Speech market for the forecast period, 2020 – 2027. The comprehensive study covers hard to find facts about the market landscape as well as its growth prospects in the years to come. Most importantly, the research report includes vital statistics about the major vendors occupying a strong foothold in this industry. Besides this, in order to calculate the market share, the study takes a closer look at the selling price of the product across different regions.

The researcher assessing the Text-to-Speech market dive deep to unearth intangible facts related to the key restraints, opportunities, and threats expected to shape the progress of the industry during the forecast period, 2020 - 2027. Significant evaluation of other factors such as demand and supply status, import and export, distribution channel, consumption volume, and production capability play a vital role in offering business owners, stakeholders and field marketing personnel a competitive edge over others operating in the same space. All important data are presented in self-explanatory charts, tables and graphic images that can be incorporated into any business presentation.  

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Here are the questions we answer... 

What are the future opportunities in store for the vendors operating in the Text-to-Speech market?

What does the competitive landscape look like?

Which emerging technologies are believed to impact the Text-to-Speech market performance?

What are the key trends and dynamics?

Which regulations that will impact the industry?

Which segment will offer the most opportunity for growth between 2020 and 2027?

Where will most developments take place in the long term?

Who are the most prominent vendors and how much market share do they occupy?

What are the latest technologies or discoveries influencing the Text-to-Speech market growth worldwide?

The research takes a closer look at prominent factors driving the growth rate of the prominent product categories across major geography. Furthermore, the study covers a lot of the sales, gross margin, consumption capacity, spending power and customer preference across various countries. The report offers clear indications how the Text-to-Speech market is expected to witness numerous exciting opportunities in the years to come. Critical aspects including the growing requirement, demand and supply status, customer preference, distribution channels and others are presented through resources such as charts, tables, and infographics.  

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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.

Neural and custom voice enable users to create branded voices using machine learning technologies. Usage of neural networks makes it possible to produce natural-sounding speech and personalized conversational customer experience. In February 2021, Microsoft announced limited access to its neural text-to-speech Artificial Intelligence solution called ‘custom neural voice’, using which, developers can create custom synthetic voices.

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.

The text-to-speech market in North America accounted for largest revenue share as compared to other regional markets in 2020 due to high demand from the U.S. The rising trend of machine learning in the country and increase in demand for text-to-speech technology is driving growth of the market.

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.

Offering Outlook (Revenue, USD Billion; 2021–2028)




Support, Implementation & Consulting

Deployment Mode Outlook (Revenue, USD Billion; 2021–2028)



Voice Type Outlook (Revenue, USD Billion; 2021–2028)

Neural and Custom Voice


Organization Size Outlook (Revenue, USD Billion; 2021–2028)

Small and Medium-Sized Enterprises

Large Enterprises

Vertical Outlook (Revenue, USD Billion; 2021–2028)

Automotive & Transportation






Travel and Hospitality

Assistant tool for visually impaired or disabilities (Dyslexic Reader)


Others (Government and Legal)

Regional Outlook (Revenue, USD Billion; 2021–2028)

North America


Asia Pacific

Latin America

Middle East & Africa

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Report Objectives

Examine the size of Text-to-Speech market based on the parameters of value and volume.

Accurately calculate the market shares, consumption, and other essential aspects of different segments of Text-to-Speech market.Explore the underlying dynamics of Text-to-Speech market.

Highlight significant trends of Text-to-Speech market based on factors including, production, revenue, and sales.

Extensively profile top players of Text-to-Speech market and showing how they compete in the industry.

Study manufacturing processes and the costs, product pricing, and various trends associated with them.

Analyze the performance of different regions and countries in Text-to-Speech market.

Forecast the market size and share of all segments and regions in the global landscape.

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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, 2020-2028

Chapter 3. Key Insights

Chapter 4. Text-to-Speech Market Segmentation & Impact Analysis

Chapter 5. Text-to-Speech Market By Application Insights & Trends, Revenue (USD Billion)

Chapter 6. Text-to-Speech Market By Sensor Type Insights & Trends Revenue (USD Billion)

Chapter 7. Text-to-Speech Market By Network Technology Insights & Trends, Revenue (USD Billion)