Product ID: SQMIG45E2195
Global Speech-to-text API Market Size, Share, Growth Analysis, By Deployment(Cloud Based, On premise), By Application(Content Transcription, Customer Management), By Industry Vertical(BFSI, Healthcare) - Industry Forecast 2024-2031
Report ID:
SQMIG45E2195 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|
Tables:
102 |
Figures:
76
Global Speech-to-text API Market Dynamics
Speech-to-Text API Market Driver
- Since the previous decade, there has been a growing need for smart devices like smart speakers and mobile phones. This has led to an increased requirement for making online video content available to everyone due to the vast proliferation of internet-based content and growing technological adoption. Users can now access instructional, entertaining, and other information through their smart devices thanks to a number of new advanced devices that have voice-controlled features, including voice processing features like content transcription and conference call analysis. As a result, the need for speech-to-text apps has grown along with the need to understand customer preferences.
- Due to a number of variables, such as rising internet usage, technological improvements, and greater awareness of automation, there is an increased demand for smart homes and smart appliances. Almost every facet of daily life now uses smart appliances and devices as a result of the COVID-19 epidemic. People are being compelled to work remotely, which is driving up demand for speech-to-text API.
Speech-to-Text API Market Restraint
- The difficulty of establishing many things makes it difficult to accurately transcribe or caption audio from several channels, which is a key limitation for this technology. The accuracy of the transcription may also be hampered by background noise, poor-quality microphones, reverb and echo, and accent changes. It is important to train speech-to-text APIs for multi-channel speech recognition using a range of data sets, but it can be challenging for businesses to collect these data sets in order to develop a methodology and solution that accurately translates speech to text for various channels.
Global Speech-to-text API Market Report Snapshots
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