Speech-to-text API Market Analysis; 2017-2019, 2023 & 2027

DUBLIN, Feb. 20, 2020 /PRNewswire/ -- The "Speech-to-text API - Global Market Outlook (2018-2027)" report has been added to ResearchAndMarkets.com's offering.

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The Global Speech-to-text API Market accounted for $1.32 billion in 2018 and is expected to reach $6.63 billion by 2027 growing at a CAGR of 20%.

Increasing adoption of smart speakers and mobile phones and stringent administrative and consistence is likely to boost the growth of the market. However, Transcribing audio from multi-channels and its exactness is likely to hamper the profit boundaries.

From the technology perspective, Speech-to-text API has a long history with several waves of major innovations. Most recently, the field has benefited from advances in deep learning and big data. The advances are evidenced not only by the surge of academic papers published in the field, but more importantly by the worldwide industry adoption of a variety of deep learning methods in designing and deploying speech recognition systems.

Based on the organization size, the Small and Medium-sized Enterprises segment is expected to grow at a higher CAGR during the forecast period. Due to the high availability of cost-effective cloud solutions, speech-to-text API software and services are expected to witness a prominent growth rate among SMEs during the forecast period. Moreover, easy availability of speech-to-text API solutions as well as real-time support services are factors projected to drive the demand for such solutions across SMEs.

By geography, North America is expected to hold the largest market size in the global speech-to-text API market. North America is the most significant revenue contributor to the global speech-to-text API market. The region is witnessing significant developments in the market. In North America, the high growth rate can be attributed to the increasing use of the big data technology, growing amount of data across verticals, and increasing investments by companies in real-time analytics

Some of the key players in the Speech-to-text API market include Voicebase, Voci, Vocapia Research, Verint, Twilio, Speechmatics, Otter AI, Nuance Communications, Nexmo, Microsoft, iFLYTEK, IBM, Govivace, Google, GL Communications, Facebook, Deepgram, Baidu and AWS.

What the report offers:

    --  Market share assessments for the regional and country level segments
    --  Strategic recommendations for the new entrants
    --  Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
    --  Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges,
        Investment Opportunities, and recommendations)
    --  Strategic analysis: Drivers and Constraints, Product/Technology
        Analysis, Porter's five forces analysis, SWOT analysis etc.
    --  Strategic recommendations in key business segments based on the market
        estimations
    --  Competitive landscaping mapping the key common trends
    --  Company profiling with detailed strategies, financials, and recent
        developments
    --  Supply chain trends mapping the latest technological advancements

Key Topics Covered

1 Executive Summary

2 Preface

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End-user Analysis
3.8 Emerging Markets
3.9 Futuristic Market Scenario

4 Porters Five Force Analysis

5 Global Speech-to-text API Market, By Component
5.1 Introduction
5.2 Services
5.2.1 Managed Services
5.2.2 Professional Services
5.2.2.1 Consulting
5.2.2.2 Deployment and Integration
5.2.2.3 Support and Maintenance
5.3 Software
5.4 Other Components

6 Global Speech-to-text API Market, By Deployment Mode
6.1 Introduction
6.2 On-Premises
6.3 Cloud
6.4 Other Development Modes

7 Global Speech-to-text API Market, By Organization Size
7.1 Introduction
7.2 Small and Medium-Sized Enterprises
7.3 Large Enterprises
7.4 Other Organization Sizes

8 Global Speech-to-text API Market, By Application
8.1 Introduction
8.2 Content Transcription
8.3 Customer Management
8.4 Fraud Detection and Prevention
8.5 Risk and Compliance Management
8.6 Other Applications

9 Global Speech-to-text API Market, By End-user
9.1 Introduction
9.2 Travel and Hospitality
9.3 Telecommunications and IT
9.4 Retail and Ecommerce
9.5 Media and Entertainment
9.6 Manufacturing
9.7 Healthcare
9.8 Government and Defense
9.9 Banking, Financial Services, and Insurance
9.10 Other End-users

10 Global Speech-to-text API Market, By Geography
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 South America
10.6 Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Voicebase
12.2 Voci
12.3 Vocapia Research
12.4 Verint
12.5 Twilio
12.6 Speechmatics
12.7 Otter AI
12.8 Nuance Communications
12.9 Nexmo
12.10 Microsoft
12.11 iFLYTEK
12.12 IBM
12.13 Govivace
12.14 Google
12.15 GL Communications
12.16 Facebook
12.17 Deepgram
12.18 Baidu
12.19 AWS

For more information about this report visit https://www.researchandmarkets.com/r/i0uwl0

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