Speech To Text Api Market
SHARE
PUBLISHED: 2020 ID: SMRC18772
SHARE

Speech-to-text API - Global Market Outlook (2018-2027)

4.3 (96 reviews)
4.3 (96 reviews)
Published: 2020 ID: SMRC18772

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Speech-to-text API Market is 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.

Speech-to-text API is an interdisciplinary subfield of computational linguistics that develops methodologies and technologies that enables the recognition and translation of spoken language into text by computers. It is also known as automatic speech recognition (ASR), computer speech recognition or speech to text (STT). It incorporates knowledge and research in the linguistics, computer science, and electrical engineering fields. 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.
 
Components Covered:
• Services
• Software
• Other Components

Deployment Modes Covered:
• On-Premises
• Cloud
• Other Development Modes

Organization Sizes Covered:
• Small and Medium-Sized Enterprises
• Large Enterprises
• Other Organization Sizes

Applications Covered:
• Content Transcription
• Customer Management
• Fraud Detection and Prevention
• Risk and Compliance Management
• Other Applications
 
End Users Covered:
• Travel and Hospitality
• Telecommunications and IT
• Retail and Ecommerce
• Media and Entertainment
• Manufacturing
• Healthcare
• Government and Defense
• Banking, Financial Services, and Insurance
• Other End Users
     
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand
o South Korea      
o Rest of Asia Pacific      
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our 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

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the clients interest (Note: Depends of feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary   
     
2 Preface   
 
 2.1 Abstract   
 2.2 Stake Holders  
 2.3 Research Scope  
 2.4 Research Methodology 
  2.4.1 Data Mining 
  2.4.2 Data Analysis 
  2.4.3 Data Validation 
  2.4.4 Research Approach 
 2.5 Research Sources  
  2.5.1 Primary Research Sources
  2.5.2 Secondary Research Sources
  2.5.3 Assumptions 
     
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  
 4.1 Bargaining power of suppliers 
 4.2 Bargaining power of buyers 
 4.3 Threat of substitutes 
 4.4 Threat of new entrants 
 4.5 Competitive rivalry  
     
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  
  10.2.1 US  
  10.2.2 Canada  
  10.2.3 Mexico  
 10.3 Europe   
  10.3.1 Germany  
  10.3.2 UK  
  10.3.3 Italy  
  10.3.4 France  
  10.3.5 Spain  
  10.3.6 Rest of Europe 
 10.4 Asia Pacific  
  10.4.1 Japan  
  10.4.2 China  
  10.4.3 India  
  10.4.4 Australia  
  10.4.5 New Zealand 
  10.4.6 South Korea 
  10.4.7 Rest of Asia Pacific 
 10.5 South America  
  10.5.1 Argentina 
  10.5.2 Brazil  
  10.5.3 Chile  
  10.5.4 Rest of South America
 10.6 Middle East & Africa  
  10.6.1 Saudi Arabia 
  10.6.2 UAE  
  10.6.3 Qatar  
  10.6.4 South Africa 
  10.6.5 Rest of 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   


List of Tables    
1 Global Speech-to-text API Market Outlook, By Region (2017-2027) ($MN)
2 Global Speech-to-text API Market Outlook, By Component (2017-2027) ($MN)
3 Global Speech-to-text API Market Outlook, By Services (2017-2027) ($MN)
4 Global Speech-to-text API Market Outlook, By Managed Services (2017-2027) ($MN)
5 Global Speech-to-text API Market Outlook, By Professional Services (2017-2027) ($MN)
6 Global Speech-to-text API Market Outlook, By Software (2017-2027) ($MN)
7 Global Speech-to-text API Market Outlook, By Deployment Mode (2017-2027) ($MN)
8 Global Speech-to-text API Market Outlook, By On-Premises (2017-2027) ($MN)
9 Global Speech-to-text API Market Outlook, By Cloud (2017-2027) ($MN)
10 Global Speech-to-text API Market Outlook, By Other Development modes (2017-2027) ($MN)
11 Global Speech-to-text API Market Outlook, By Organization Size (2017-2027) ($MN)
12 Global Speech-to-text API Market Outlook, By Small and Medium-Sized Enterprises (2017-2027) ($MN)
13 Global Speech-to-text API Market Outlook, By Large Enterprises (2017-2027) ($MN)
14 Global Speech-to-text API Market Outlook, By Other Organization Sizes (2017-2027) ($MN)
15 Global Speech-to-text API Market Outlook, By Application (2017-2027) ($MN)
16 Global Speech-to-text API Market Outlook, By Content Transcription (2017-2027) ($MN)
17 Global Speech-to-text API Market Outlook, By Customer Management (2017-2027) ($MN)
18 Global Speech-to-text API Market Outlook, By Fraud Detection and Prevention (2017-2027) ($MN)
19 Global Speech-to-text API Market Outlook, By Risk and Compliance Management (2017-2027) ($MN)
20 Global Speech-to-text API Market Outlook, By Other Applications (2017-2027) ($MN)
21 Global Speech-to-text API Market Outlook, By End User (2017-2027) ($MN)
22 Global Speech-to-text API Market Outlook, By Travel and Hospitality (2017-2027) ($MN)
23 Global Speech-to-text API Market Outlook, By Telecommunications and IT  (2017-2027) ($MN)
24 Global Speech-to-text API Market Outlook, By Retail and Ecommerce (2017-2027) ($MN)
25 Global Speech-to-text API Market Outlook, By Media and Entertainment (2017-2027) ($MN)
26 Global Speech-to-text API Market Outlook, By Manufacturing (2017-2027) ($MN)
27 Global Speech-to-text API Market Outlook, By Healthcare (2017-2027) ($MN)
28 Global Speech-to-text API Market Outlook, By Government and Defense (2017-2027) ($MN)
29 Global Speech-to-text API Market Outlook, By Banking, Financial Services, and Insurance (2017-2027) ($MN)
30 Global Speech-to-text API Market Outlook, By Other End Users (2017-2027) ($MN)
     
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials