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Infographic: Speech Technology Market Forecast

The future of the speech technology market is looking good. Very good, in fact. We’ve talked about it in a few of our posts this year, and we can’t get over some of the predictions experts are saying about the industry.

To help us see the potential the speech technology market has, we put together a few forecasts to create this awesome infographic! If anyone ever says to you that speech technology is outdated and past its prime, show them this:

The speech technology market is set to grow

Take another look at those numbers, those are real forecasts from market analysts. The speech technology market is set to see a tremendous gain in market value in the next five years. One of the reasons for that is the importance of text-to-speech (TTS) and automatic speech recognition (ASR) in specialized digital assistant tech.

Thanks to advancements in the capabilities of TTS and ASR, specialized digital assistants are able to interact with people entirely through voice, just like two people having a conversation. These bots drive revenue by helping users make online purchases and find products that they want. For an in-depth look, read more about specialized digital assistants and bots.

We’re excited to see what the future holds for speech technology. At NeoSpeech, we’re working hard to continue releasing the highest-quality TTS voices and in new languages! Our passion is to see our voices being used to help people in their daily lives, and this is a shared passion with most speech technology providers.

What do you think?

What do you think the future holds for speech technology? Let us know in the comments!

Learn More about NeoSpeech’s Text-to-Speech

To learn more about the different areas in which Text-to-Speech technology can be used, visit our Text-to-Speech Areas of Application page. And to learn more about the products we offer, visit our Text-to-Speech Products page.

If you’re interested in adding Text-to-Speech software to your application or would like to learn more about TTS, please fill out our Sales Inquiry form and one of our friendly team members will be happy to help.

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What is Text-to-Speech and How Does It Work?


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