Overview of the global text-to-speech education technology market
Market research analysts at Technavio predict that the global text-to-speech education technology market will grow steadily during the next four years and post a CAGR of almost 9% by 2020. This market research analysis identifies the rise in enrollment of dyslexic students in educational institutions as one of the primary growth factors for this market. The recent years have witnessed a significant increase in the number of dyslexic students enrolling in higher education in several countries across the globe, especially in the developed countries such as the UK. Similarly, the awareness created by the Dyslexia Association of Singapore (DAS) for providing education for dyslexic students, led to the rise in number of educational institutions accepting dyslexic students with the aid of supporting technologies. Since these educational institutions have the need to adopt assistive technologies to help students understand courses better, the coming years will witness a rapid increase in the adoption of text-to-speech education technology.
The adoption of inclusive education will be one of the major trends that will gain traction in this market in the next four years. Inclusive education aims at providing education for students with disabilities and normal students in the same environment. It helps in designing programs and activities that enable all students to learn and participate in class activities together. With researches indicating that differently abled students achieve more positive results in inclusive education, educational institutions will start adopting assistive tools such as text-to-speech education technology.
Competitive landscape and key vendors
Characterized by the presence of diversified international and regional vendors, this global market appears to be fragmented. Most of the text-to-speech technology vendors concentrate on offering solutions that can be applied in various end-user sectors such as education, business, and engineering and are also focusing on offering software technology compatible for devices such as PCs, smartphones, and tablets. With an increase in product/service extensions, technological innovations, and M&As, the competitive environment among vendors in the market will intensify in the coming years. Analysts also predict that the international vendors will grow inorganically by acquiring regional or local vendors.
The leading vendors in the market are -
The other prominent vendors in the market are Claro Software, Texthelp, goQ Software, LumenVox, Kurzweil Education, and ReadSpeaker.
Segmentation by schools and analysis of the text-to-speech education technology market
Schools for students with special needs
Higher educational institutions
According to this market research and analysis, the schools for students with special needs segment dominated this market during 2015. The rise in awareness about providing education for differently-abled children and the increasing focus of governments across the globe, especially the developed countries such as the US and UK towards developing schools for students with learning disabilities, will increase the number of student enrollments. As a result, this segment will continue to dominate the market during the next four years as well.
Geographical segmentation and analysis of the text-to-speech education technology market
In terms of geographical regions, Europe will be the major revenue contributor to the market throughout the forecast period. The introduction of initiatives by the governments of various countries in the region to provide education for dyslexic students and the implementation of blended learning in classrooms, will fuel the growth of the market in this region.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global text-to-speech education technology market?
What are the key market trends impacting the growth of the global text-to-speech education technology market?
What are the challenges to market growth?
Who are the key vendors in the global text-to-speech education technology market?
What are the market opportunities and threats faced by the vendors in the global text-to-speech education technology market?
Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
What are the key outcomes of the five forces analysis of the global text-to-speech education technology market?
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Text-to-speech (TSS) technology was developed to enable the students to read, decode, and comprehend the digital text materials. The software converts the digital text into spoken voice output so the students who cannot decode the text can access the information and content without any difficulty. With TSS, kids can view the text on the screen and hear the texts read aloud simultaneously. There is another type of text-to-speech technology, which enables a computer generated voice to read the texts. It helps the student to access the content independently and more efficiently without external support. It boosts their morale which eventually results in better grades. Some of the key vendors associated with global text-to-speech education technology market are Ivona, NaturalReader, and Acapela Group Virtual Speaker.
The report, global text-to-speech education technology market, is part of Technavio’s education portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as education technology, K12 and higher education, and school and college essentials. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.