The Latin America, Middle East and Africa Speech-to-text API Market would witness market growth of 23.4% CAGR during the forecast period (2021-2027).
Conversational devices can better recognize speech due to new technologies like artificial intelligence and machine learning, which improve the system's self-learning skills. Speech-to-text conversion methods based on artificial intelligence can improve accuracy and adapt to changes in languages automatically. With the expanding use of these models, speech-to-text with AI has become a standard service.
One of the prominent factors behind the excellent accuracy of APIs is the option to choose between several machine learning models. As a result, Google Speech-To-Text can be used for purposes other than quick web searches. It can also be set up to pick up audio from phone conversations or videos. In addition, Speech-to-text solutions are predicted to be adopted by many organizations to speed up procedures such as news and speeches delivered by political leaders and conferences since they offer faster transcription, low prices, and high accuracy.
The usage of speakers is aided by the increased acceptance of digital technology across South America and the Middle East and Africa. For example, Google debuted its artificial intelligence-powered virtual assistant in Saudi Arabia in December 2021. Google has been particularly programmed to understand and answer in standard Arabic to all Saudi dialects. Google will be able to sing and joke in Arabic due to these features.
Moreover, the regional healthcare industry is slowly transforming with the acceptance of various voice-based applications from medical diagnostic to clinical documentation. In addition, many industries in the region including marketing, communication, HR, legal departments, and others are moving towards on-premise deployment due to a growing number of security concerns.
The Brazil market dominated the LAMEA Speech-to-text API Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $117.9 million by 2027. The Argentina market is exhibiting a CAGR of 24% during (2021 - 2027). Additionally, The UAE market would display CAGR of 23% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Speech-to-text API Market is Predict to reach $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
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
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 LAMEA Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 2 LAMEA 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 LAMEA Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 7 LAMEA Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 8 LAMEA Solution Market by Country, 2017 - 2020, USD Million
TABLE 9 LAMEA Solution Market by Country, 2021 - 2027, USD Million
TABLE 10 LAMEA Services Market by Country, 2017 - 2020, USD Million
TABLE 11 LAMEA Services Market by Country, 2021 - 2027, USD Million
TABLE 12 LAMEA Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 13 LAMEA Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 14 LAMEA BFSI Market by Country, 2017 - 2020, USD Million
TABLE 15 LAMEA BFSI Market by Country, 2021 - 2027, USD Million
TABLE 16 LAMEA IT & Telecom Market by Country, 2017 - 2020, USD Million
TABLE 17 LAMEA IT & Telecom Market by Country, 2021 - 2027, USD Million
TABLE 18 LAMEA Healthcare Market by Country, 2017 - 2020, USD Million
TABLE 19 LAMEA Healthcare Market by Country, 2021 - 2027, USD Million
TABLE 20 LAMEA Retail & eCommerce Market by Country, 2017 - 2020, USD Million
TABLE 21 LAMEA Retail & eCommerce Market by Country, 2021 - 2027, USD Million
TABLE 22 LAMEA Government & Defense Market by Country, 2017 - 2020, USD Million
TABLE 23 LAMEA Government & Defense Market by Country, 2021 - 2027, USD Million
TABLE 24 LAMEA Media & Entertainment Market by Country, 2017 - 2020, USD Million
TABLE 25 LAMEA Media & Entertainment Market by Country, 2021 - 2027, USD Million
TABLE 26 LAMEA Travel & Hospitality Market by Country, 2017 - 2020, USD Million
TABLE 27 LAMEA Travel & Hospitality Market by Country, 2021 - 2027, USD Million
TABLE 28 LAMEA Others Market by Country, 2017 - 2020, USD Million
TABLE 29 LAMEA Others Market by Country, 2021 - 2027, USD Million
TABLE 30 LAMEA Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 31 LAMEA Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 32 LAMEA Large Enterprises Market by Country, 2017 - 2020, USD Million
TABLE 33 LAMEA Large Enterprises Market by Country, 2021 - 2027, USD Million
TABLE 34 LAMEA Small & Medium-sized Enterprises (SMEs) Market by Country, 2017 - 2020, USD Million
TABLE 35 LAMEA Small & Medium-sized Enterprises (SMEs) Market by Country, 2021 - 2027, USD Million
TABLE 36 LAMEA Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 37 LAMEA Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 38 LAMEA Cloud Market by Country, 2017 - 2020, USD Million
TABLE 39 LAMEA Cloud Market by Country, 2021 - 2027, USD Million
TABLE 40 LAMEA On-premise Market by Country, 2017 - 2020, USD Million
TABLE 41 LAMEA On-premise Market by Country, 2021 - 2027, USD Million
TABLE 42 LAMEA Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 43 LAMEA Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 44 LAMEA Fraud Detection & Prevention Market by Country, 2017 - 2020, USD Million
TABLE 45 LAMEA Fraud Detection & Prevention Market by Country, 2021 - 2027, USD Million
TABLE 46 LAMEA Contact Center & Customer Management Market by Country, 2017 - 2020, USD Million
TABLE 47 LAMEA Contact Center & Customer Management Market by Country, 2021 - 2027, USD Million
TABLE 48 LAMEA Risk & Compliance Management Market by Country, 2017 - 2020, USD Million
TABLE 49 LAMEA Risk & Compliance Management Market by Country, 2021 - 2027, USD Million
TABLE 50 LAMEA Content Transcription Market by Country, 2017 - 2020, USD Million
TABLE 51 LAMEA Content Transcription Market by Country, 2021 - 2027, USD Million
TABLE 52 LAMEA Subtitle Generation Market by Country, 2017 - 2020, USD Million
TABLE 53 LAMEA Subtitle Generation Market by Country, 2021 - 2027, USD Million
TABLE 54 LAMEA Others Market by Country, 2017 - 2020, USD Million
TABLE 55 LAMEA Others Market by Country, 2021 - 2027, USD Million
TABLE 56 LAMEA Speech-to-text API Market by Country, 2017 - 2020, USD Million
TABLE 57 LAMEA Speech-to-text API Market by Country, 2021 - 2027, USD Million
TABLE 58 Brazil Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 59 Brazil Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 60 Brazil Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 61 Brazil Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 62 Brazil Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 63 Brazil Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 64 Brazil Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 65 Brazil Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 66 Brazil Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 67 Brazil Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 68 Brazil Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 69 Brazil Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 70 Argentina Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 71 Argentina Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 72 Argentina Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 73 Argentina Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 74 Argentina Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 75 Argentina Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 76 Argentina Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 77 Argentina Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 78 Argentina Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 79 Argentina Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 80 Argentina Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 81 Argentina Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 82 UAE Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 83 UAE Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 84 UAE Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 85 UAE Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 86 UAE Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 87 UAE Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 88 UAE Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 89 UAE Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 90 UAE Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 91 UAE Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 92 UAE Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 93 UAE Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 94 Saudi Arabia Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 95 Saudi Arabia Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 96 Saudi Arabia Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 97 Saudi Arabia Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 98 Saudi Arabia Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 99 Saudi Arabia Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 100 Saudi Arabia Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 101 Saudi Arabia Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 102 Saudi Arabia Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 103 Saudi Arabia Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 104 Saudi Arabia Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 105 Saudi Arabia Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 106 South Africa Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 107 South Africa Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 108 South Africa Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 109 South Africa Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 110 South Africa Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 111 South Africa Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 112 South Africa Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 113 South Africa Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 114 South Africa Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 115 South Africa Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 116 South Africa Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 117 South Africa Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 118 Nigeria Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 119 Nigeria Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 120 Nigeria Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 121 Nigeria Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 122 Nigeria Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 123 Nigeria Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 124 Nigeria Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 125 Nigeria Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 126 Nigeria Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 127 Nigeria Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 128 Nigeria Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 129 Nigeria Speech-to-text API Market by Application, 2021 - 2027, USD Million
TABLE 130 Rest of LAMEA Speech-to-text API Market, 2017 - 2020, USD Million
TABLE 131 Rest of LAMEA Speech-to-text API Market, 2021 - 2027, USD Million
TABLE 132 Rest of LAMEA Speech-to-text API Market by Component, 2017 - 2020, USD Million
TABLE 133 Rest of LAMEA Speech-to-text API Market by Component, 2021 - 2027, USD Million
TABLE 134 Rest of LAMEA Speech-to-text API Market by Vertical, 2017 - 2020, USD Million
TABLE 135 Rest of LAMEA Speech-to-text API Market by Vertical, 2021 - 2027, USD Million
TABLE 136 Rest of LAMEA Speech-to-text API Market by Organization Size, 2017 - 2020, USD Million
TABLE 137 Rest of LAMEA Speech-to-text API Market by Organization Size, 2021 - 2027, USD Million
TABLE 138 Rest of LAMEA Speech-to-text API Market by Deployment Type, 2017 - 2020, USD Million
TABLE 139 Rest of LAMEA Speech-to-text API Market by Deployment Type, 2021 - 2027, USD Million
TABLE 140 Rest of LAMEA Speech-to-text API Market by Application, 2017 - 2020, USD Million
TABLE 141 Rest of LAMEA 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.