Text to Speech Software emerged as an assistive technology tool to improve the visually impaired learning capabilities and those with cognitive difficulties. Earlier computer-generated voices basically read out the text almost similar to human voices for its users and have found their place in multiple dimensions of today’s digitized era. Prevalent text-to-speech software now uses recorded human voices or computer-generated voices, and users can select different gender specific voices and accents. 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 text-to-speech software usage, 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 the mobile workforce, international travelers, and the general public, has adapted to the go lifestyle with the advent of smartphones and tablets. The availability of mobile devices and travel frequencies has augmented the market for handheld text-to-speech translation systems. 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 e-learning content and use the technology to comply with it. This prompted 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 improved performance. Text To Speech software like the one fromenhances the student learning experience, helps them understand concepts better, and increase their motivation levels.
Almost every industry, from consumer electronics to print media, is 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 used to create digital marketing content-books and are good news for content owners and publishers. 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 substantial speech and voice recognition technologies usage. Medical terminologies and nuances of grammar have always been a challenge. 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 software changes audio recordings of healthcare personnel into an electronic text, which can be shared over a network system and is printed. Initially, speech-to-text technologies did not work very well. However, today some quality software programs do this with 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 mobile banking rise 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 accuracy and 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.