- In November 2023, Microsoft introduced the public preview of Azure AI Speech, enabling users to generate talking avatar videos through text input and develop real-time interactive bots using human images
- In January 2023, Microsoft unveiled VALL-E, a new text-to-speech synthesis model that uses audio codec codes as intermediate representations to replicate an individual's voice after analyzing just three seconds of audio
- In January 2023, Amazon Polly launched two new neural voices for US English: Ruth (female) and Stephen (male), expanding its portfolio to include six female voices and four male voices
- In October 2023, IBM acquired Manta Software Inc., a data lineage platform, enhancing its capabilities in watsonx.ai, watsonx.data, and watsonx.governance, enabling businesses to create trustworthy, transparent products
- In March 2022, Microsoft finalized the acquisition of Nuance Communications Inc., a leader in conversational AI and ambient intelligence, serving industries such as healthcare, finance, retail, and telecommunications
Frequently Asked Questions
The market is segmented based on Segmentation, By Component (Software and Services), Deployment Mode (Cloud-Based and On-Premise), Language (English, Spanish, Hindi, Chinese, and Other Languages), Voice (Neural & Custom, and Non-Neural), Solution (Accessibility, and Voice-based AI) – Industry Trends and Forecast to 2032
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The Global Speech Synthesis Market size was valued at USD 15.20 USD Billion in 2024.
The Global Speech Synthesis Market is projected to grow at a CAGR of 22.1% during the forecast period of 2025 to 2032.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
