According to a market report by Lucintel, the future of the text-to-speech market looks promising with opportunities in the consumer electronics, automotive and transportation, healthcare, education, enterprise, finance, and retail industries. The text-to-speech market is expected to grow with a CAGR of 15% from 2019 to 2024. The major drivers for this market are rising demand for handheld devices and increased government spending on education technologies for differently abled persons.
In this market, text-to-speech technology is used in consumer electronics, automotive and transportation, healthcare, education, finance, retail, and enterprises. Lucintel forecasts that consumer electronics will remain the largest end use industry due to the growing demand for text-to-speech technology in smartphones for navigation and personal assistant apps.
North America will remain the largest region over the forecast period due to the increased adoption of machine learning in various end use industries.
Innoetics Text-to-Speech Technologies, Rspeak, Ispeech, Sunrom Electronics, Cepstral, SESTEK, Neospeech, Amazon.Com, Acapela Group, and Cereproc are among the major players in the text-to-speech market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the text-to-speech market by end use industry and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Text-to-Speech Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategies, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the text-to-speech market by end use industry and region as follows:
By End Use Industry [$M shipment analysis for 2013 – 2024]:
• Consumer Electronics
• Automotive and Transportation
• Healthcare
• Education
• Finance
• Retail
• Enterprise
• Others
By Region [$M shipment analysis for 2013 – 2024]:
• North America
– United States
– Canada
– Mexico
• Europe
– Germany
– UK
– Italy
– France
• Asia Pacific
– China
– Japan
– India
• Rest of the World

A more than 150 pages research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high-growth opportunities for the text-to-speech market by end use industry (consumer electronics, automotive and transportation, healthcare, education, finance, retail, and enterprise), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in the text-to-speech market?
Q.5. What are the business risks and competitive threats in the text-to-speech market?
Q.6. What are the emerging trends in the text-to-speech market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity did occurr in the last five years, and what has its impact been on the industry?