How the Text-To-Speech Market is Positioned for Growth: Trends, Market Size, and Future Opportunities (2025-2034)
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Industry-Specific Factors Are Fueling the Growth of theText-To-Speech Market?
The surge in individuals with various learning impairments is projected to spur the expansion of the text-to-speech market. These disabilities are characterised by a range of neurological conditions, hindering their ability to effectively learn, process, or convey information. Text-to-speech (TTS) technology is an essential resource for these individuals as it offers access to information, assists with reading and writing activities, bolsters language acquisition, and fosters self-sufficiency and empowerment. For instance, the National Health Service, a governmental department in the UK, reported in December 2023 that there was a notable annual rise in the diagnosis of learning disabilities and ADHD, peaking at 8.6% in 2022-23, up from 5.5% in prior years. This represents an increase of 0.52% to 0.99% over the equivalent timeframe. Consequently, the rising cases of people with varied learning disabilities is fuelling the expansion of the text-to-speech market.
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#What Are the Key Projections for the CAGR of the Text-To-Speech Market From 2025 to 2034?
Over the years, there has been a significant expansion in the text-to-speech market. The market is projected to increase from $4.15 billion in 2024 to $4.96 billion in 2025, boasting a compound annual growth rate (CAGR) of 19.5%. Factors contributing to the growth in the previous period include advancements in natural language processing, the surge in demand for accessibility features, wider incorporation in the e-learning and educational sectors, integration with virtual assistant technology, and a growing inclusion in automotive applications.
The market for text-to-speech is forecasted to experience a swift expansion in the upcoming years. It is predicted to balloon up to $9.98 billion by 2029, with a compound annual growth rate (CAGR) of 19.1%. Factors such as accelerated growth in virtual assistants and AI applications, incorporation with the internet of things, growth in healthcare and accessibility solutions, surge in demand in the gaming and entertainment sector, and a sustained focus on bilingual capabilities are anticipated to drive this growth. In the forecast period, significant trends likely to emerge include advancements in neural TTS technology, integration with edge computing, emphasis on emotional intelligence in TTS, improved multimodal experiences, and increased attention to security and privacy.
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What Key Market Trends and Innovations Are Shaping the Future of theText-To-Speech Industry?
Firms that major in the text-to-speech market like Azure AI Speech are prioritizing technological enhancements in an effort to remain competitive and satisfy the increasing need for progressive speech features. Azure AI Speech is an organized component offering leading speech features like text-to-speech, speech-to-text, speech interpretation, and speaker identification. For instance, in November 2023, Microsoft Corporation, a firm based in the US and known for its technological expertise, introduced the Azure AI Speech tool, expressly crafted to aid developers to effortlessly produce top-tier voice-enabled apps. This provide them with a no-coding experience through the Speech Studio, which enables the creation of custom models that fit their applications. Moreover, it gives users the ability to create and incorporate these functions into their applications by using the Speech SDK, the Speech CLI, or the REST APIs. It also avails features like modifiable voices and models, adaptable deployment preferences, and exhaustive privacy and security provisions.
Which Companies Are Leading the Charge in Expanding theText-To-Speech Market Growth?
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
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How is the Global Text-To-Speech Market Segemented?
The text-to-speech market covered in this report is segmented –
1) By Offering: Software, Services
2) By Deployment Mode: Cloud Based, On-Premise
3) By Industry Vertical: Automotive, Consumer Electronics, Healthcare, Education, Enterprise, Entertainment And Gaming, Other Industry Verticals
Subsegments:
1) By Software: Speech Synthesis Software, Speech Recognition Software, Text-To-Speech APIS
2) By Services: Custom Voice Development, Integration Services, Cloud-Based Text-To-Speech Services
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Which Geographics are Influencing the Growth of the Text-To-Speech Market?
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.
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