Brooklyn, New York, March 20, 2023 (GLOBE NEWSWIRE) -- According to a recently revamped/updated market research report published by Global Market Estimates, the Global Speech-To-Text Market is projected to grow from USD 2.8 billion in 2023 to USD 5.9 billion in 2028 at a CAGR of 19.5% from 2023 to 2028.
The major driver in the speech-to-text market is the increase in demand for voice-based devices and their application in various sectors. Voice authentication is also required in banking services, healthcare, and other cloud-based industries. Cloud-based speech-to-text also offers opportunities for special aid students. This allows them equal educational and working opportunities as this works like assistive technology. These advantages drive the market during the forecast period.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on "Global Speech-To-Text Market - Forecast to 2028''
Key Market Insights
- As per the deployment outlook, the cloud segment is expected to be the largest segment in the global market from 2023 to 2028
- As per the application outlook, the fraud detection segment holds the largest share in the market
- The Asia Pacific region is analyzed to be the fastest-growing region in the market
- North America region will have the largest share in the market during the forecast period [2023-2028]
- Amazon, Google LLC, IBM Corporation, Microsoft, Nuance Communications, Speechmatics, Vocapia Research, Verint Systems, Revcom Inc., and VoiceBase, among others, are some of the key players in the speech-to-text market
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Component Outlook (Revenue, USD Billion, 2023-2028)
- Software
- Services
Application Outlook (Revenue, USD Billion, 2023-2028)
- Fraud Detection
- Content Transcription
- Subtitle Generation
Deployment Mode Outlook (Revenue, USD Billion, 2023-2028)
- Cloud
- On-Premise
Regional Outlook (Revenue, USD Billion, 2023-2028)
North America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Spain
- Italy
- Netherlands
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Malaysia
- Singapore
- Vietnam
- Rest of APAC
Central & South America
- Brazil
- Argentina
- Chile
- Rest of CSA
Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of MEA
Contact: Yash Jain
Director - Global Accounts & Strategic Advisory
Email address: yash.jain@globalmarketestimates.com
Phone Number: +1 6026667238
LinkedIn: https://www.linkedin.com/in/yash-jain-global-market-estimates/
Website: www.globalmarketestimates.com
Contact: Yash Jain Director - Global Accounts & Strategic Advisory Email address: yash.jain@globalmarketestimates.com Phone Number: +1 6026667238 LinkedIn: https://www.linkedin.com/in/yash-jain-global-market-estimates/ Website: www.globalmarketestimates.com
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