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Speech to text api market software#

The report provides an analysis of each segment and sub-segment with the help of tables and figures. The report offers a detailed segmentation of the global speech-to-text API market based on component, deployment mode, application, industry vertical, and region. It is likely that in the coming years, this aspect will present the speech-to-text API industry with numerous prospects.

Moreover, the pandemic accelerated the adoption of cloud across industrial sectors, as customers took advantage of cloud benefits, including scalability and cost savings.

People were forced to work from home, which raised the demand for speech-to-text API. This is owing to the increasing use of smart devices and appliances in almost every aspect of daily life.

The outbreak of the COVID-19 pandemic had a positive impact on the speech-to-text API market.

Innovation in speech-to-text solutions for disabled students Growing popularity of cloud-based services

Growing need for voice-based devices for better and faster experience Report coverage & details: Report CoverageĬomponent, Deployment Mode, Application, Industry Vertical, and Region The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. 17, 2023 (GLOBE NEWSWIRE) - According to the report published by Allied Market Research, the global speech-to-text API market generated $2.4 billion in 2021, and is estimated to reach $12.1 billion by 2031, witnessing a CAGR of 17.8% from 2022 to 2031.

Speech to text api market software#

Based on component, the software segment is likely to dominate in terms of revenue in 2031.

Region-wise, the market in Asia-Pacific is likely to dominate in terms of revenue and grow at the fastest CAGR during the forecast period. Growing need for voice-based devices for better and faster experience, advances in artificial intelligence, and growing popularity of cloud-based services drive the growth of the global speech-to-text API market.