Baidu

Global Speech-to-text API Market Research Report to 2027 – Featuring Baidu, Google, Microsoft, and Verint, Among Others – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Text-to-Speech API Market Research Report by Component (Services and Solutions), Deployment Mode, Organization Size, Application, Vertical, Region (Americas, Asia-Pacific, and Europe, Middle East and Africa) – Global Forecast to 2027 – Cumulative Impact of COVID-19 Report has been added to from ResearchAndMarkets.com offer.

The global Speech-to-text API market size was estimated at USD 1,498.23 million in 2021, USD 1,783.94 million in 2022, and is projected to grow at a CAGR of 19.32% to reach 4,324, 80 million USD by 2027.

Competitive Strategy Window:

The strategic competitive window analyzes the competitive landscape in terms of markets, applications and geographies to help the vendor define an alignment or match between its capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for vendors to adopt successive strategies of merger and acquisition, geographic expansion, research and development, and new product introduction strategies to execute further business expansion and growth. during a forecast period.

FPNV positioning matrix:

The FPNV Positioning Matrix rates and categorizes vendors in the Text-to-Speech API Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Satisfaction (value for money, ease of use, product features, and customer support) that helps businesses make better decisions and better understand the competitive landscape.

Market share analysis:

The market share analysis offers the analysis of the vendors considering their contribution to the overall market. It gives the idea of ​​its revenue generation in the overall market compared to other providers in the space. It provides information on the performance of vendors in terms of revenue generation and customer base compared to others. Knowing the market share gives an idea of ​​the size and competitiveness of suppliers for the reference year. It reveals the characteristics of the market in terms of accumulation, fragmentation, dominance and merger.

The report provides information about the following pointers:

1. Market Penetration: Provides comprehensive information about the market offered by major players

2. Market Development: Provides detailed information on lucrative emerging markets and analyzes penetration in mature market segments

3. Market Diversification: Provides detailed information on new product launches, untapped geographies, recent developments and investments

4. Competitive Assessment and Intelligence: Provides a comprehensive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of key players

5. Product Development and Innovation: Provides smart insights into future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the global Speech-to-text API market?

2. What are the inhibiting factors and impact of COVID-19 on the global Text-to-Speech API market during the forecast period?

3. What are the products/segments/applications/areas to invest in during the forecast period in the Global Speech-to-text API Market?

4. What is the competitive strategic window for opportunities in the Global Speech-to-Text API Market?

5. What are the technology trends and regulatory frameworks in the global Speech-to-text API market?

6. What is the market share of the major vendors in the global Speech-to-text API market?

7. What modes and strategic moves are considered suitable for entering the global Speech-to-text API market?

Market dynamics

Drivers

  • Growing adoption of smart speakers and cell phones

  • Strict regulation and compliance related to text-to-speech solutions

  • Growing need to provide understandable and searchable transcription of audio and video data

Constraints

  • Transcribe audio from multiple channels and its accuracy

Opportunities

  • Innovation in text-to-speech solutions for students with temporary and permanent disabilities

  • Growing inclination towards cloud-based deployment mode

  • Increased investment in the digitization process in potential savings

Challenges

  • Multi-Language Support for Closed Captioning and Closed Captioning

Companies cited

  • Amazon Web Services, Inc.

  • Baidu, Inc.

  • Contus

  • Contuspvt Ltd.

  • Deepgram

  • Facebook, Inc.

  • GL Communications Inc.

  • Google Inc.

  • GoVivace Inc.

  • IBM Corporation

  • iFLYTEK Corporation

  • Microsoft Corporation

  • Nuance Communications, Inc.

  • Otter.ai

  • Speechmatics

  • TWILIO INC.

  • Verint

  • Vocapia Research SAS

  • Voci Technologies Incorporated

  • Vonage

For more information about this report visit https://www.researchandmarkets.com/r/4cgki2