![]() While text-to-speech software in particular is known to both improve a company’s bottom line and streamline operations, the software also stands to increase customer satisfaction which, of course, can grow your bottom line. Voice solutions are benefitting forward-thinking businesses across the globe. How text-to-speech software makes business interactions better While the English language holds the major share of the text-to-speech market, Mandarin, Hindi, and Spanish are all showing signs of growth. Unsurprisingly, the rising adoption of voice solutions in the Asian markets has also led to a demand for text-to-speech software to be available in more than just the English language. This is critical, as a Deloitte report shows that Asia will be home to 60% of the world’s over 65s by 2030. This, coupled with the aging populations’ growing dependency on technology, has given way for governments to accelerate the adoption of text-to-speech technology. The growth in text-to-speech software is also fueled by heightened government spending on assistive technology to improve accessibility for those citizens with learning disabilities. ![]() ![]() Their common goal: better industry performance due to improved customer experiences. This is driven by the countries who are increasing AI penetration among enterprises, including India, China, Indonesia, Australia, Japan, and Singapore. They attribute this to the influx in AI, analytics, and IoT devices across the region. The same research also shows that the Asia Pacific region is witnessing the highest growth rates for text-to-speech functions. This is driven by a number of large enterprises, including Google, IBM, and Amazon, who are leading the way in customer experience by integrating text-to-speech technology via chatbots, smart speakers, and virtual assistants. Text-to-speech technology becomes mainstreamĪccording to a study by Research and Markets, the global text-to-speech market is forecasted to grow by a staggering 14.5% by 2026. What has changed, however, is the importance of text-to-speech software in today’s business environment, and the increased demand for it among developers who are building a new wave of applications. Text-to-speech technology was also notably featured in the cult classic film, "2001: A Space Odyssey," where HAL 9000, a computer, sings "Daisy Bell." The software originally emerged in the B2C market, primarily for educational purposes, but it started gaining mainstream attention when handheld electronic devices began featuring speech synthesis. Even though it was popularised by Stephen Hawking in the 1980s, this technology has actually been around since the late 1950s. Text-to-speech technology is nothing new. It’s a computer-generated simulation of a human voice that uses deep learning methods (automatic speech recognition and natural language processing) to convert raw text into an audio form. Text-to-speech technology, sometimes referred to as speech synthesis, does exactly what the name says-it generates speech from written text-like this article that you’re reading. What exactly is text-to-speech technology? One such voice solution that’s making a difference across the world is text-to-speech technology. The simple truth is, in an age of contactless engagement and real-time demand, customers need new ways to engage. And, we’re not just talking about the likes of Siri and Alexa! The capabilities of voice solutions extend much further. As cloud-based platforms continue to grow at breakneck speed, voice messaging is gaining tremendous momentum among businesses, governments, and everyday consumers.
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