Artificial Intelligence
Text-to-Speech Market Size to Reach USD 7.06 Billion by 2028 | Increasing Investment in Education Sector for Deployment of Advanced Education and Communication Technologies is Driving Industry Growth, says Emergen Research
Vancouver, British Columbia, Feb. 23, 2021 (GLOBE NEWSWIRE) — The global text-to-speech market size is expected to reach USD 7.06 Billion at a steady CAGR of 14.7% in 2028, according to latest analysis by Emergen Research. A key driving factor for growth of the text-to-speech technology market is increasing penetration of Internet-enabled handheld smart devices. Increasing globalization and global tourism and trade is another factor resulting in rising demand for handheld text-to-speech translation systems and mobile apps. Increasing government investment to encourage machine learning to help differently-abled persons is also supporting market growth.
Text-to-speech is useful in converting website content, online documents, and e-learning. It is also useful among persons with learning disabilities, and vision and language challenges. Text-to-speech technology helps to minimize learning-related challenges while enabling a more improved approach to learning. It is also useful among members of the geriatric population who have problems with reading due to poor eyesight or other challenges.
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In addition, inclusion of text-to-speech technology in various devices by major companies is expected to support market growth Innovative ideas and use of this technology in marketing campaigns and initiatives is expected to gain rapid traction in future. In July 2019 for instance, KFC launched National Fried Chicken Day by reinventing the drive-through experience. During the campaign, a voice-based rendition of Colonel Sanders provided drive-through customers amusing experience of ordering from Col. Sanders himself. Speech recognition, Artificial Intelligence (AI), and text-to-speech technology used during the campaign enabled the drive-through window operator’s voice to sound as though Col. Sanders were speaking in his southern accent.
Challenges such as non-compatibility of devices, digital incompetency during translation of written content to audio, and low investment by mobile device manufacturing companies in offering a broader operating platform are some key factors expected to hamper growth of the text-to-speech market to some extent going ahead.
Some Key Highlights in the Report
- In November 2020, BBC launched an AI-based text-to-speech tool – developed in collaboration with Microsoft – on its digital platform, providing a new way for users to consume its content.
- Text-to-speech software can be installed in mobile devices automatically and offers opportunity to easily access audio content. Customers prefer to access PDFs, eBooks, and web content in audio format as it makes the content easier to comprehend. The convenience that text-to-speech technology provides is driving revenue growth of the software segment to a significant extent currently.
- Emergence of cloud-based text-to-speech services is also a driving factor for market growth. Cloud-based technology enables user’s applications or software to send text and receive audio files to be played back on Internet-enabled apps and devices. It offers high quality voice in many languages.
- By organization size, the large enterprises segment accounted for larger revenue share in 2020. Large enterprises are adopting this technology for virtual assistance, speech recognition, and chat bots. Small and medium sized enterprises are recognizing the potential benefits of the text-to-speech technology and exploring options to invest.
- Retail sector has begun using voice-first strategies; however, many are adopting text-to-voice strategies to distinguish themselves from others and boost sales. Retail sector is creating custom-branded text-to-speech voice technologies to execute in-store and online tasks. Custom voice will make shopping more interactive for customers thus ensuring brand loyalty and also foster brand affinity.
- The growing penetration of AI, Internet of Things (IoT), and analytics in countries in Asia Pacific is fueling growth of the text-to-speech market in the region. Rising adoption of text-to-speech technology in developing countries such as China, India, Japan, Australia, and others is also fueling growth of the market to a significant extent and the trend is expected to continue over the forecast period.
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Emergen Research has segmented the global text-to-speech market on the basis of offering, deployment mode, voice type, organization size, vertical, and region:
- Offering Outlook (Revenue, USD Billion; 2021–2028)
- Software
- Services
- Software-as-a-Service
- Support, Implementation & Consulting
- Deployment Mode Outlook (Revenue, USD Billion; 2021–2028)
- On-premises
- Cloud-based
- Voice Type Outlook (Revenue, USD Billion; 2021–2028)
- Neural and Custom Voice
- Non-Neural
- Organization Size Outlook (Revenue, USD Billion; 2021–2028)
- Small and Medium-Sized Enterprises
- Large Enterprises
- Vertical Outlook (Revenue, USD Billion; 2021–2028)
- Automotive & Transportation
- Consumer
- BFSI
- Healthcare
- Education
- Retail
- Travel and Hospitality
- Assistant tool for visually impaired or disabilities (Dyslexic Reader)
- Enterprise
- Others (Government and Legal)
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- Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest Of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/enghouse-video-partners-with-sonifi-health-to-deliver-advanced-telehealth-solutions-in-hospital-rooms-302126882.html
Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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Artificial Intelligence
ScreenPoint Medical Leadership Transition: Pieter Kroese Confirmed as CEO
Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.”
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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View original content:https://www.prnewswire.co.uk/news-releases/screenpoint-medical-leadership-transition-pieter-kroese-confirmed-as-ceo-302127719.html
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