Text-to-Speech Market is predicted to reach USD 8.80 Billion by 2030

According to the study by Next Move Strategy Consulting, the global Text-to-Speech Market size is predicted to reach USD 8.80 billion with a CAGR of 15.3% by 2030.

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The growing demand for text-to-speech technology in the automotive sector, used for spoken directions to enhance the convenience and safety of drivers, fuels market growth.

Moreover, the growing adoption of text-to-speech technology in healthcare industries to enhance better patient communications and engagement for those patients who have speech or visual disability has strengthened the text-to-speech market growth worldwide.

North America dominates the text-to-speech market share during the forecast period. This is attributed to factors such as the rising advancements in AI, machine learning, and natural language processing (NLP) technologies towards TTS technology which is further driving the growth of the market.

The text-to-speech (TTS) industry comprises various market key players such as Nuance Communication, Microsoft Corporation, IBM Corporation, Google, Inc., Sensory Inc., Amazon.Com, Readspeaker, LumenVox LLC, Acapela Group, CereProc, and others.