The Asia Pacific Speech-to-text API Market would witness market growth of 20.9% CAGR during the forecast period (2021-2027).
Machine learning (ML), augmented reality (AR), and natural language processing (NLP) are being used to automate conversations in a growing number of voice-enabled applications. Additionally, Voice-enabled devices are becoming more prevalent as smartphones and smart speakers become more widespread. Moreover, the popularity of transcription and real-time support services motivate key players to develop speech-to-text API solutions. For example, in 2017, Fujitsu Social Science Laboratory Limited and Fujitsu Limited collaborated to create FUJITSU Software Live Talk, a hearing-impaired communication tool. Multilingual translation functionality was added to the system to facilitate real-time communication and to display translations as text on the screen immediately. Due to the rising cancellation of conferences and events by prominent tech companies, the demand for speech-to-text API solutions would increase in the upcoming years.
Among the countries of the Asia-Pacific region, China ranked first in the world in speaker in 2019, with over 86 million users. In addition, significant players such as Xiaomi, Alibaba, and Baidu are among the largest domestic consumer-focused enterprises. China is one of the most important markets for voice-activated smart home services and products. Smart speakers and voice assistants, in addition to providing broader linguistic support, improve the quality of speech recognition, which may be extended and amortized across a range of platforms.
Because of the densely populated economies of China and India, the use of mobile and cloud technologies is rapidly increasing, resulting in unparalleled technological developments in computer technology. Moreover, changing lifestyles and rising interest in the latest technologies would help the regional market to stay competitive and create new growth opportunities.
The China market dominated the Asia Pacific Speech-to-text API Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $499.5 million by 2027. The Japan market is anticipated to grow at a CAGR of 20.3% during (2021 - 2027). Additionally, The India market would experience a CAGR of 21.7% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Media & Entertainment, Travel & Hospitality, and Others. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises (SMEs). Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Application, the market is segmented into Fraud Detection & Prevention, Contact Center & Customer Management, Risk & Compliance Management, Content Transcription, Subtitle Generation, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Speech-to-text API Market is Projected to reach USD 5.8 Billion by 2027, at a CAGR of 19%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LivePerson, Inc. (VoiceBase, Inc.), VoiceCloud LLC, Speechmatics Ltd., IBM Corporation, Microsoft Corporation, Google LLC, Baidu, Inc., Twilio, Inc., Amazon Web Services, Inc., and Verint Systems, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
By Vertical
- BFSI
- IT & Telecom
- Healthcare
- Retail & eCommerce
- Government & Defense
- Media & Entertainment
- Travel & Hospitality
- Others
By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises (SMEs)
By Deployment Type
By Application
- Fraud Detection & Prevention
- Contact Center & Customer Management
- Risk & Compliance Management
- Content Transcription
- Subtitle Generation
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- LivePerson, Inc. (VoiceBase, Inc.)
- VoiceCloud LLC
- Speechmatics Ltd.
- IBM Corporation
- Microsoft Corporation
- Google LLC
- Baidu, Inc.
- Twilio, Inc.
- Amazon Web Services, Inc.
- Verint Systems, Inc.
TABLE 1 Asia Pacific Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 2 Asia Pacific Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Speech-to-text API Market
TABLE 4 Product Launches And Product Expansions– Speech-to-text API Market
TABLE 5 Acquisition and Mergers– Speech-to-text API Market
TABLE 6 Asia Pacific Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 7 Asia Pacific Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 8 Asia Pacific Solution Market by Country, 2017 - 2020, USD Million
TABLE 9 Asia Pacific Solution Market by Country, 2021 - 2027, USD Million
TABLE 10 Asia Pacific Services Market by Country, 2017 - 2020, USD Million
TABLE 11 Asia Pacific Services Market by Country, 2021 - 2027, USD Million
TABLE 12 Asia Pacific Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 13 Asia Pacific Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 14 Asia Pacific BFSI Market by Country, 2017 - 2020, USD Million
TABLE 15 Asia Pacific BFSI Market by Country, 2021 - 2027, USD Million
TABLE 16 Asia Pacific IT & Telecom Market by Country, 2017 - 2020, USD Million
TABLE 17 Asia Pacific IT & Telecom Market by Country, 2021 - 2027, USD Million
TABLE 18 Asia Pacific Healthcare Market by Country, 2017 - 2020, USD Million
TABLE 19 Asia Pacific Healthcare Market by Country, 2021 - 2027, USD Million
TABLE 20 Asia Pacific Retail & eCommerce Market by Country, 2017 - 2020, USD Million
TABLE 21 Asia Pacific Retail & eCommerce Market by Country, 2021 - 2027, USD Million
TABLE 22 Asia Pacific Government & Defense Market by Country, 2017 - 2020, USD Million
TABLE 23 Asia Pacific Government & Defense Market by Country, 2021 - 2027, USD Million
TABLE 24 Asia Pacific Media & Entertainment Market by Country, 2017 - 2020, USD Million
TABLE 25 Asia Pacific Media & Entertainment Market by Country, 2021 - 2027, USD Million
TABLE 26 Asia Pacific Travel & Hospitality Market by Country, 2017 - 2020, USD Million
TABLE 27 Asia Pacific Travel & Hospitality Market by Country, 2021 - 2027, USD Million
TABLE 28 Asia Pacific Others Market by Country, 2017 - 2020, USD Million
TABLE 29 Asia Pacific Others Market by Country, 2021 - 2027, USD Million
TABLE 30 Asia Pacific Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 31 Asia Pacific Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 32 Asia Pacific Large Enterprises Market by Country, 2017 - 2020, USD Million
TABLE 33 Asia Pacific Large Enterprises Market by Country, 2021 - 2027, USD Million
TABLE 34 Asia Pacific Small & Medium-sized Enterprises (SMEs) Market by Country, 2017 - 2020, USD Million
TABLE 35 Asia Pacific Small & Medium-sized Enterprises (SMEs) Market by Country, 2021 - 2027, USD Million
TABLE 36 Asia Pacific Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 37 Asia Pacific Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 38 Asia Pacific Cloud Market by Country, 2017 - 2020, USD Million
TABLE 39 Asia Pacific Cloud Market by Country, 2021 - 2027, USD Million
TABLE 40 Asia Pacific On-premise Market by Country, 2017 - 2020, USD Million
TABLE 41 Asia Pacific On-premise Market by Country, 2021 - 2027, USD Million
TABLE 42 Asia Pacific Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 43 Asia Pacific Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 44 Asia Pacific Fraud Detection & Prevention Market by Country, 2017 - 2020, USD Million
TABLE 45 Asia Pacific Fraud Detection & Prevention Market by Country, 2021 - 2027, USD Million
TABLE 46 Asia Pacific Contact Center & Customer Management Market by Country, 2017 - 2020, USD Million
TABLE 47 Asia Pacific Contact Center & Customer Management Market by Country, 2021 - 2027, USD Million
TABLE 48 Asia Pacific Risk & Compliance Management Market by Country, 2017 - 2020, USD Million
TABLE 49 Asia Pacific Risk & Compliance Management Market by Country, 2021 - 2027, USD Million
TABLE 50 Asia Pacific Content Transcription Market by Country, 2017 - 2020, USD Million
TABLE 51 Asia Pacific Content Transcription Market by Country, 2021 - 2027, USD Million
TABLE 52 Asia Pacific Subtitle Generation Market by Country, 2017 - 2020, USD Million
TABLE 53 Asia Pacific Subtitle Generation Market by Country, 2021 - 2027, USD Million
TABLE 54 Asia Pacific Others Market by Country, 2017 - 2020, USD Million
TABLE 55 Asia Pacific Others Market by Country, 2021 - 2027, USD Million
TABLE 56 Asia Pacific Speech-to-text API Market by Country, 2017 - 2020, USD Million
TABLE 57 Asia Pacific Speech-to-text API Market by Country, 2021 - 2027, USD Million
TABLE 58 China Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 59 China Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 60 China Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 61 China Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 62 China Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 63 China Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 64 China Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 65 China Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 66 China Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 67 China Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 68 China Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 69 China Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 70 Japan Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 71 Japan Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 72 Japan Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 73 Japan Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 74 Japan Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 75 Japan Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 76 Japan Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 77 Japan Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 78 Japan Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 79 Japan Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 80 Japan Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 81 Japan Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 82 India Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 83 India Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 84 India Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 85 India Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 86 India Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 87 India Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 88 India Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 89 India Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 90 India Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 91 India Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 92 India Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 93 India Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 94 South Korea Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 95 South Korea Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 96 South Korea Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 97 South Korea Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 98 South Korea Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 99 South Korea Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 100 South Korea Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 101 South Korea Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 102 South Korea Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 103 South Korea Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 104 South Korea Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 105 South Korea Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 106 Singapore Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 107 Singapore Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 108 Singapore Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 109 Singapore Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 110 Singapore Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 111 Singapore Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 112 Singapore Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 113 Singapore Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 114 Singapore Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 115 Singapore Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 116 Singapore Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 117 Singapore Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 118 Malaysia Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 119 Malaysia Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 120 Malaysia Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 121 Malaysia Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 122 Malaysia Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 123 Malaysia Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 124 Malaysia Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 125 Malaysia Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 126 Malaysia Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 127 Malaysia Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 128 Malaysia Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 129 Malaysia Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 130 Rest of Asia Pacific Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 131 Rest of Asia Pacific Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 132 Rest of Asia Pacific Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 133 Rest of Asia Pacific Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 134 Rest of Asia Pacific Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 135 Rest of Asia Pacific Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 136 Rest of Asia Pacific Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 137 Rest of Asia Pacific Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 138 Rest of Asia Pacific Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 139 Rest of Asia Pacific Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 140 Rest of Asia Pacific Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 141 Rest of Asia Pacific Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 142 Key information – LivePerson, Inc.,
TABLE 143 Key information – VoiceCloud LLC
TABLE 144 Key information – Speechmatics Ltd.
TABLE 145 Key information – IBM Corporation
TABLE 146 key information – Microsoft Corporation
TABLE 147 Key Information – Google LLC
TABLE 148 Key Information – Baidu, Inc.
TABLE 149 Key Information – Twilio, Inc.
TABLE 150 Key Information – Amazon Web Services, Inc.
TABLE 151 Key information –Verint Systems, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2021)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2017, Mar – 2021, Nov) Leading Players
FIG 5 Recent strategies and developments: Speechmatics Ltd.
FIG 6 Recent strategies and developments: Microsoft Corporation
FIG 7 SWOT Analysis: Alphabet Inc. (Google LLC)
FIG 8 Recent strategies and developments: Baidu, Inc.
FIG 9 Swot analysis: Baidu, inc.
FIG 10 Recent strategies and developments: Amazon Web Services, Inc.