Text-to speech is a type of service that understands natural language and generates audio output full with intonation and cadence. The text language should match with the voice language to produce synthesized audio output. The text-to-speech market witness considerable market demand in recent years.Text-to-speech is an awesome technology that can convert the written content of any website, mobile apps, e-books, online documents and e-learning tools to audio output. People who have a learning disability, language problem, vision problem can access the written content without any difficulty. This technology provides an easier way to reach to the global population.
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The number of people with a learning disability or learning difficulty is quite high presently, and making online content audible actually broadens the user base. Percentage of population above 60 years has consistently increased and this indicates increasing possibility of reduced vision. Text-to-speech technology has been very useful for people with reduced vision, as this provides an opportunity to understand the content well.
This factors drives the text-to-speech market in recent years. Advancements in the production of digital content and rising consumption of hand-held devices, coupled with increasing internet penetration, is likely to boost the demand for text-to-speech technology in the market in the near future.
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Text-to-speech technology market are subjected to market challenges which may lead to restraint in the growth of the market. This kind of speech synthesis has been difficult with female and children voices. Text-to-speech technology has difficulty in pronouncing numerical, abbreviations, acronyms, and thus suffers from the problem of correct pronunciation. The written digital content loses its emotion and attraction when converted into audio content, thus reducing its acceptability to companies. Companies still prefer to follow the tradition of written digital content, and this is estimated to act as a major restraining factor for the text-to-speech market during the forecast period.
Text-to-speech software is installed in mobile devices automatically, and thus provides an opportunity to access the audio content more easily. Audio content is more convenient to understand. People prefer to access eBooks, pdf, and website content in audio format so that it will be easier for them to understand the content properly. The convenience of the audio content is projected to fuel the market prospects of text-to-speech technology during the forecast period.