Text to Speech Software emerged as an assistive technology tool to improve the learning capabilities of visually impaired and those with cognitive difficulties. Earlier computer generated voices basically read out the text almost similarly to human voices for its users and have found its place in multiple dimensions of today’s digitized era. Prevalent text-to-speech softwares now use recorded human voices or computer generated voices and users can select different gender specific voices and accents as well. To identify words/phrases and convert them into a machine-readable format with less or no human interference, innovative speech and voice recognition technologies are put to work. These technologies along with the text-to-speech software help users manage privacy and security dubiety governed by regulations as they work in tandem with a plethora of voice-enabled applications.
With the rise in the usage of text-to-speech software, it is obvious that users and developers might be interested in knowing what factors are actually driving this industry.presents you with the top five driving factors for the text-to-speech software market.
1.Content Consumption On The Go
Everyone, including mobile workforce, international travelers, and the general public have adapted the on the go lifestyle with the advent of smartphones and tablets. Availability of mobile devices and travel frequencies has augmented the market for handheld text-to-speech translation systems as well. Smartphones and other home devices can now talk to us with voices that resemble human ones so much that conversations sound natural and seem as if they’re always listening. All metal, plastic, and electronics from kitchen appliances to cars have to come to life with TTS providing an easier error-free text using voice commands rather than fumbling with a touch screen or keyboard.
2.Amendment in Education Law
Individuals with Disabilities Education Act (IDEA), a federal law ensuring educational services to physically challenged children was enforced throughout the United States in 2004. This mandate compelled educational institutions to implement an e-learning content and use the technology to comply with it. This prompted an extensive research on the usage and the improvement of TTS for educational purposes. Students with learning disabilities like autism, traumatic brain injuries, emotional and cognitive disabilities showed that using the Text To Speech software exhibited an improved performance. Text To Speech softwares like the one fromenhances student’s learning experience by helping them understand concepts better and increasing their motivation levels.
Almost every industry from the consumer electronics to the print media are experiencing a global digital disruption causing the advancement in technology and the way it is put to use. Optical Character Recognition technology scans prints material into a computer/handheld device and converts it to digital text. Portable OCR devices called reading pens are used to scan and read back text this can be possibly used to create digital marketing content-books and are good news for content owners and publishers. Also, Artificial Intelligence has a remarkable impact on text to speech software development and poses challenges in online web-based services implementations. Thankfully diversified applications like consumer electronic devices and service robots are anticipated to generate multiple opportunities.
4.Health Care Transcriptions
The healthcare transcriptions segment accounts for more than 30% of the market share and has attained a substantial size in speech and voice recognition technologies usage. Medical terminologies and nuances of grammar have always been a challenge as it involves carefully listening to doctors’ recorded voice files on patients’ medical records and converting them into text format. In simple terms text to speech, softwares change audio recordings of healthcare personnel into an electronic text which can further be shared over a network system and also be printed. Initially, speech- to- text technologies did not work very well, however, today some quality software programs do this with an acceptable accuracy. The major challenge is the privacy of the patient’s personal data. The current TTS industry needs to focus on cybersecurity measures for Internet-enabled medical devices in a futuristic way.
5.Speech-Based Biometric Systems
Instances of fraud and the rise of mobile banking make it vital to prevent fraud, by identifying a bank user when using their mobile application. Everyone’s speech is uniquely identified and the speaker verification is a great way to confirm an identity just like fingerprints. The accelerating urge of speech-based biometric systems for accurate an authentication is another major driving factor of TTS technologies. Voice authentication required by e-banking applications and mobile banking contributes to the growth of the TTS users.
A CAGR growth of around 16% is anticipated for the global text to speech software market during the period 2018-2022 by multiple research reports. Hence, a recent development in the global Text-to-speech Technology market has generated a need for major players to understand and research the latter. End-users, including educational entities, consumer electronics, automotive and transportation, banking, healthcare, enterprise, finance, and retail in key regions, including the Americas, APAC, and EMEA for sure are to benefit from these trends.