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Speech-to-text API-Global Market Insights and Sales Trends 2025
Synopsis
The global Speech-to-text API market size is expected to reach US$ 7504.6 million by 2029, growing at a CAGR of 17.9% from 2023 to 2029. The market is mainly driven by the significant applications of Speech-to-text API in various end use industries. The expanding demands from the Financial Services and Insurance, Telecommunications and Information Technology, Health Care and Retail and E-commerce, are propelling Speech-to-text API market. On-premises, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Cloud segment is estimated at % CAGR for the next seven-year period.
Asia Pacific shows high growth potential for Speech-to-text API market, driven by demand from China, the second largest economy with some signs of stabilising, the Speech-to-text API market in China is forecast to reach US$ million by 2029, trailing a CAGR of % over the 2023-2029 period, while the U.S. market will reach US$ million by 2029, exhibiting a CAGR of % during the same period.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Speech-to-text API, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Speech-to-text API market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Speech-to-text API market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Speech-to-text API sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Speech-to-text API covered in this report include Google (US), Microsoft (US), IBM (US), AWS (US), Nuance Communications (US), Verint (US), Speechmatics (England), Vocapia Research (France) and Twilio (US), etc.
The global Speech-to-text API market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Google (US)
Microsoft (US)
IBM (US)
AWS (US)
Nuance Communications (US)
Verint (US)
Speechmatics (England)
Vocapia Research (France)
Twilio (US)
Baidu (China)
Facebook (US)
iFLYTEK (China)
Govivace (US)
Deepgram (US)
Nexmo (US)
VoiceBase (US)
Otter.ai (US)
Voci (US)
GL Communications (US)
Contus (India)
Global Speech-to-text API market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Speech-to-text API market, Segment by Type:
On-premises
Cloud
Global Speech-to-text API market, by Application
Financial Services and Insurance
Telecommunications and Information Technology
Health Care
Retail and E-commerce
Government and Defense
Other
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of Speech-to-text API companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
The global Speech-to-text API market size is expected to reach US$ 7504.6 million by 2029, growing at a CAGR of 17.9% from 2023 to 2029. The market is mainly driven by the significant applications of Speech-to-text API in various end use industries. The expanding demands from the Financial Services and Insurance, Telecommunications and Information Technology, Health Care and Retail and E-commerce, are propelling Speech-to-text API market. On-premises, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Cloud segment is estimated at % CAGR for the next seven-year period.
Asia Pacific shows high growth potential for Speech-to-text API market, driven by demand from China, the second largest economy with some signs of stabilising, the Speech-to-text API market in China is forecast to reach US$ million by 2029, trailing a CAGR of % over the 2023-2029 period, while the U.S. market will reach US$ million by 2029, exhibiting a CAGR of % during the same period.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Speech-to-text API, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Speech-to-text API market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Speech-to-text API market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Speech-to-text API sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Speech-to-text API covered in this report include Google (US), Microsoft (US), IBM (US), AWS (US), Nuance Communications (US), Verint (US), Speechmatics (England), Vocapia Research (France) and Twilio (US), etc.
The global Speech-to-text API market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Google (US)
Microsoft (US)
IBM (US)
AWS (US)
Nuance Communications (US)
Verint (US)
Speechmatics (England)
Vocapia Research (France)
Twilio (US)
Baidu (China)
Facebook (US)
iFLYTEK (China)
Govivace (US)
Deepgram (US)
Nexmo (US)
VoiceBase (US)
Otter.ai (US)
Voci (US)
GL Communications (US)
Contus (India)
Global Speech-to-text API market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Speech-to-text API market, Segment by Type:
On-premises
Cloud
Global Speech-to-text API market, by Application
Financial Services and Insurance
Telecommunications and Information Technology
Health Care
Retail and E-commerce
Government and Defense
Other
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of Speech-to-text API companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
Index1 Market Overview of Speech-to-text API
1.1 Speech-to-text API Market Overview
1.1.1 Speech-to-text API Product Scope
1.1.2 Speech-to-text API Market Status and Outlook
1.2 Global Speech-to-text API Market Size Overview by Region 2018 VS 2022 VS 2029
1.3 Global Speech-to-text API Market Size by Region (2018-2029)
1.4 Global Speech-to-text API Historic Market Size by Region (2018-2023)
1.5 Global Speech-to-text API Market Size Forecast by Region (2024-2029)
1.6 Key Regions, Speech-to-text API Market Size (2018-2029)
1.6.1 North America Speech-to-text API Market Size (2018-2029)
1.6.2 Europe Speech-to-text API Market Size (2018-2029)
1.6.3 Asia-Pacific Speech-to-text API Market Size (2018-2029)
1.6.4 Latin America Speech-to-text API Market Size (2018-2029)
1.6.5 Middle East & Africa Speech-to-text API Market Size (2018-2029)
2 Speech-to-text API Market by Type
2.1 Introduction
2.1.1 On-premises
2.1.2 Cloud
2.2 Global Speech-to-text API Market Size by Type: 2018 VS 2022 VS 2029
2.2.1 Global Speech-to-text API Historic Market Size by Type (2018-2023)
2.2.2 Global Speech-to-text API Forecasted Market Size by Type (2024-2029)
2.3 Key Regions Market Size by Type
2.3.1 North America Speech-to-text API Revenue Breakdown by Type (2018-2029)
2.3.2 Europe Speech-to-text API Revenue Breakdown by Type (2018-2029)
2.3.3 Asia-Pacific Speech-to-text API Revenue Breakdown by Type (2018-2029)
2.3.4 Latin America Speech-to-text API Revenue Breakdown by Type (2018-2029)
2.3.5 Middle East and Africa Speech-to-text API Revenue Breakdown by Type (2018-2029)
3 Speech-to-text API Market Overview by Application
3.1 Introduction
3.1.1 Financial Services and Insurance
3.1.2 Telecommunications and Information Technology
3.1.3 Health Care
3.1.4 Retail and E-commerce
3.1.5 Government and Defense
3.1.6 Other
3.2 Global Speech-to-text API Market Size by Application: 2018 VS 2022 VS 2029
3.2.1 Global Speech-to-text API Historic Market Size by Application (2018-2023)
3.2.2 Global Speech-to-text API Forecasted Market Size by Application (2024-2029)
3.3 Key Regions Market Size by Application
3.3.1 North America Speech-to-text API Revenue Breakdown by Application (2018-2029)
3.3.2 Europe Speech-to-text API Revenue Breakdown by Application (2018-2029)
3.3.3 Asia-Pacific Speech-to-text API Revenue Breakdown by Application (2018-2029)
3.3.4 Latin America Speech-to-text API Revenue Breakdown by Application (2018-2029)
3.3.5 Middle East and Africa Speech-to-text API Revenue Breakdown by Application (2018-2029)
4 Speech-to-text API Competition Analysis by Players
4.1 Global Speech-to-text API Market Size by Players (2018-2023)
4.2 Global Top Players by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Speech-to-text API as of 2022)
4.3 Date of Key Players Enter into Speech-to-text API Market
4.4 Global Top Players Speech-to-text API Headquarters and Area Served
4.5 Key Players Speech-to-text API Product Solution and Service
4.6 Competitive Status
4.6.1 Speech-to-text API Market Concentration Rate
4.6.2 Mergers & Acquisitions, Expansion Plans
5 Company (Top Players) Profiles
5.1 Google (US)
5.1.1 Google (US) Profile
5.1.2 Google (US) Main Business
5.1.3 Google (US) Speech-to-text API Products, Services and Solutions
5.1.4 Google (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.1.5 Google (US) Recent Developments
5.2 Microsoft (US)
5.2.1 Microsoft (US) Profile
5.2.2 Microsoft (US) Main Business
5.2.3 Microsoft (US) Speech-to-text API Products, Services and Solutions
5.2.4 Microsoft (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.2.5 Microsoft (US) Recent Developments
5.3 IBM (US)
5.3.1 IBM (US) Profile
5.3.2 IBM (US) Main Business
5.3.3 IBM (US) Speech-to-text API Products, Services and Solutions
5.3.4 IBM (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.3.5 AWS (US) Recent Developments
5.4 AWS (US)
5.4.1 AWS (US) Profile
5.4.2 AWS (US) Main Business
5.4.3 AWS (US) Speech-to-text API Products, Services and Solutions
5.4.4 AWS (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.4.5 AWS (US) Recent Developments
5.5 Nuance Communications (US)
5.5.1 Nuance Communications (US) Profile
5.5.2 Nuance Communications (US) Main Business
5.5.3 Nuance Communications (US) Speech-to-text API Products, Services and Solutions
5.5.4 Nuance Communications (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.5.5 Nuance Communications (US) Recent Developments
5.6 Verint (US)
5.6.1 Verint (US) Profile
5.6.2 Verint (US) Main Business
5.6.3 Verint (US) Speech-to-text API Products, Services and Solutions
5.6.4 Verint (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.6.5 Verint (US) Recent Developments
5.7 Speechmatics (England)
5.7.1 Speechmatics (England) Profile
5.7.2 Speechmatics (England) Main Business
5.7.3 Speechmatics (England) Speech-to-text API Products, Services and Solutions
5.7.4 Speechmatics (England) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.7.5 Speechmatics (England) Recent Developments
5.8 Vocapia Research (France)
5.8.1 Vocapia Research (France) Profile
5.8.2 Vocapia Research (France) Main Business
5.8.3 Vocapia Research (France) Speech-to-text API Products, Services and Solutions
5.8.4 Vocapia Research (France) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.8.5 Vocapia Research (France) Recent Developments
5.9 Twilio (US)
5.9.1 Twilio (US) Profile
5.9.2 Twilio (US) Main Business
5.9.3 Twilio (US) Speech-to-text API Products, Services and Solutions
5.9.4 Twilio (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.9.5 Twilio (US) Recent Developments
5.10 Baidu (China)
5.10.1 Baidu (China) Profile
5.10.2 Baidu (China) Main Business
5.10.3 Baidu (China) Speech-to-text API Products, Services and Solutions
5.10.4 Baidu (China) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.10.5 Baidu (China) Recent Developments
5.11 Facebook (US)
5.11.1 Facebook (US) Profile
5.11.2 Facebook (US) Main Business
5.11.3 Facebook (US) Speech-to-text API Products, Services and Solutions
5.11.4 Facebook (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.11.5 Facebook (US) Recent Developments
5.12 iFLYTEK (China)
5.12.1 iFLYTEK (China) Profile
5.12.2 iFLYTEK (China) Main Business
5.12.3 iFLYTEK (China) Speech-to-text API Products, Services and Solutions
5.12.4 iFLYTEK (China) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.12.5 iFLYTEK (China) Recent Developments
5.13 Govivace (US)
5.13.1 Govivace (US) Profile
5.13.2 Govivace (US) Main Business
5.13.3 Govivace (US) Speech-to-text API Products, Services and Solutions
5.13.4 Govivace (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.13.5 Govivace (US) Recent Developments
5.14 Deepgram (US)
5.14.1 Deepgram (US) Profile
5.14.2 Deepgram (US) Main Business
5.14.3 Deepgram (US) Speech-to-text API Products, Services and Solutions
5.14.4 Deepgram (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.14.5 Deepgram (US) Recent Developments
5.15 Nexmo (US)
5.15.1 Nexmo (US) Profile
5.15.2 Nexmo (US) Main Business
5.15.3 Nexmo (US) Speech-to-text API Products, Services and Solutions
5.15.4 Nexmo (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.15.5 Nexmo (US) Recent Developments
5.16 VoiceBase (US)
5.16.1 VoiceBase (US) Profile
5.16.2 VoiceBase (US) Main Business
5.16.3 VoiceBase (US) Speech-to-text API Products, Services and Solutions
5.16.4 VoiceBase (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.16.5 VoiceBase (US) Recent Developments
5.17 Otter.ai (US)
5.17.1 Otter.ai (US) Profile
5.17.2 Otter.ai (US) Main Business
5.17.3 Otter.ai (US) Speech-to-text API Products, Services and Solutions
5.17.4 Otter.ai (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.17.5 Otter.ai (US) Recent Developments
5.18 Voci (US)
5.18.1 Voci (US) Profile
5.18.2 Voci (US) Main Business
5.18.3 Voci (US) Speech-to-text API Products, Services and Solutions
5.18.4 Voci (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.18.5 Voci (US) Recent Developments
5.19 GL Communications (US)
5.19.1 GL Communications (US) Profile
5.19.2 GL Communications (US) Main Business
5.19.3 GL Communications (US) Speech-to-text API Products, Services and Solutions
5.19.4 GL Communications (US) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.19.5 GL Communications (US) Recent Developments
5.20 Contus (India)
5.20.1 Contus (India) Profile
5.20.2 Contus (India) Main Business
5.20.3 Contus (India) Speech-to-text API Products, Services and Solutions
5.20.4 Contus (India) Speech-to-text API Revenue (US$ Million) & (2018-2023)
5.20.5 Contus (India) Recent Developments
6 North America
6.1 North America Speech-to-text API Market Size by Country (2018-2029)
6.2 U.S.
6.3 Canada
7 Europe
7.1 Europe Speech-to-text API Market Size by Country (2018-2029)
7.2 Germany
7.3 France
7.4 U.K.
7.5 Italy
7.6 Russia
7.7 Nordic Countries
7.8 Rest of Europe
8 Asia-Pacific
8.1 Asia-Pacific Speech-to-text API Market Size by Region (2018-2029)
8.2 China
8.3 Japan
8.4 South Korea
8.5 Southeast Asia
8.6 India
8.7 Australia
8.8 Rest of Asia-Pacific
9 Latin America
9.1 Latin America Speech-to-text API Market Size by Country (2018-2029)
9.2 Mexico
9.3 Brazil
9.4 Rest of Latin America
10 Middle East & Africa
10.1 Middle East & Africa Speech-to-text API Market Size by Country (2018-2029)
10.2 Turkey
10.3 Saudi Arabia
10.4 UAE
10.5 Rest of Middle East & Africa
11 Speech-to-text API Market Dynamics
11.1 Speech-to-text API Industry Trends
11.2 Speech-to-text API Market Drivers
11.3 Speech-to-text API Market Challenges
11.4 Speech-to-text API Market Restraints
12 Research Finding /Conclusion
13 Methodology and Data Source
13.1 Methodology/Research Approach
13.1.1 Research Programs/Design
13.1.2 Market Size Estimation
13.1.3 Market Breakdown and Data Triangulation
13.2 Data Source
13.2.1 Secondary Sources
13.2.2 Primary Sources
13.3 Disclaimer
13.4 Author List
Published By : QY Research
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