Global Speech-to-text API Market to grow USD 4,324.80 Million by 2027, at a CAGR of 19.32%.


Text-to-Speech API Market research report by Component (Services & Solutions), Deployment Mode, Organization Size, Application, Vertical, Region (Americas, Asia Pacific & Europe, Middle East & Africa) – Global Forecast to 2027 – Cumulative Impact of COVID-19

New York, Aug. 12, 2022 (GLOBE NEWSWIRE) — announces the release of the “Speech-to-text API Market Research Report by Component, Deployment mode, Organization Size, Application, Vertical, Region – Global Forecast to 2027 – Cumulative impact of COVID-19” –

The global Speech-to-text API market size was estimated at USD 1,498.23 million in 2021 and is projected to reach USD 1,783.94 million in 2022, and is projected to grow at a CAGR of 19.32% to reach 4 USD 324.80 million by 2027.

Market statistics:
The report provides market size analysis and forecasts for 7 major currencies – USD, EUR, JPY, GBP, AUD, CAD and CHF. It helps organizational leaders make better decisions when currency data is readily available. In this report, the years 2019 and 2020 are considered as historical years, 2021 as the base year, 2022 as the estimated year and the years from 2023 to 2027 as the forecast period.

Segmentation and market coverage:
This research report categorizes Speech-to-text API for forecasting revenue and analyzing trends in each of the following submarkets:

Based on components, the market has been studied through services and solutions. Services are further discussed in Managed Services and Professional Services. Professional services are further explored in the areas of consulting, deployment and integration, and support and maintenance. Solutions are explored in more detail in Services and Software.

Based on deployment mode, the market has been studied in cloud and on-premises.

On the basis of organization size, the market has been studied across large enterprises and small to medium enterprises.

Based on the application, the market has been studied in Content Transcription, Client Management, Fraud Detection & Prevention, and Risk & Compliance Management.

Based on the vertical, the market has been studied across Banking, Financial Services & Insurance (BFSI), Government & Defense, Healthcare, Manufacturing, Media & Entertainment, others (transportation and logistics and education), retail and e-commerce, telecommunications and information technology (IT), and travel & hospitality.

Based on region, the market has been studied in Americas, Asia-Pacific, Europe, Middle East & Africa. The Americas are studied in more detail through Argentina, Brazil, Canada, Mexico and the United States. The United States is studied in more detail through California, Florida, Illinois, New York, Ohio, Pennsylvania and Texas. Asia-Pacific is studied in more detail across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand. Europe, the Middle East and Africa are studied in more detail in France, Germany, Italy, the Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, the United Arab Emirates and the United Kingdom.

Cumulative impact of COVID-19:
COVID-19 is an unparalleled global public health emergency that has affected almost every industry, and the long-term effects are expected to impact industry growth over the forecast period. Our ongoing research amplifies our research framework to ensure inclusion of the underlying issues of COVID-19 and potential pathways forward. The report provides insights into COVID-19 considering shifts in consumer behavior and demand, shopping patterns, supply chain rerouting, current market force dynamics, and significant interventions governments. The updated study provides insights, analysis, estimates, and forecasts considering the impact of COVID-19 on the market.

Cumulative impact of the 2022 Russian-Ukrainian conflict:
We continuously monitor and update reports on political and economic uncertainty due to the Russian invasion of Ukraine. Negative impacts are widely predicted globally, particularly in Eastern Europe, the European Union, East and Central Asia, and the United States. This controversy has severely affected lives and livelihoods and represents profound disruptions to business dynamics. The potential effects of the ongoing war and uncertainty in Eastern Europe are expected to negatively impact the global economy, with particularly harsh long-term effects on Russia. This report reveals the demand and supply impact, pricing variants, strategic vendor adoption, and recommendations for the Speech-to-Text API market considering the current update on the conflict and its overall response.

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 evaluates and ranks 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.

Competitive scenario:
The competitive scenario provides an analysis of the prospects of the different business growth strategies adopted by the vendors. The news covered in this section provides valuable insights at various stages while keeping abreast of business news and engaging stakeholders in the economic debate. The competitive scenario represents press releases or company news categorized into merger and acquisition, agreement, collaboration and partnership, new product launch and improvement, investment and financing, and awards, recognition and expansion. All the news gathered helps the vendor to understand the gaps in the market and the strength and weakness of the competitors, thus providing insights to improve the product and service.

Enterprise Usability Profiles:
The report thoroughly explores recent significant developments by leading vendors and innovation profiles in the global Text-to-Speech API market including 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.,, Speechmatics, TWILIO INC., Verint, Vocapia Research SAS, Voci Technologies Incorporated, and Vonage.

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?
Read the full report:

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