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Asia Pacific Speech-to-text API Market Size, Share & Industry Trends Analysis Report By Component (Solution and Services), By Vertical, By Organization Size, By Deployment Type, By Application, By Country and Growth Forecast, 2021-2027

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    Report

  • 133 Pages
  • February 2022
  • Region: Asia Pacific
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5570985
The Asia Pacific Speech-to-text API Market is expected to 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 is expected to 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 is expected to 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 is expected to 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 is expected to 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.

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
  • Solution
  • Services

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
  • Cloud
  • On-premise

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.

Unique Offerings from the Publisher


  • Exhaustive coverage
  • The highest number of market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Speech-to-text API Market, by Component
1.4.2 Asia Pacific Speech-to-text API Market, by Vertical
1.4.3 Asia Pacific Speech-to-text API Market, by Organization Size
1.4.4 Asia Pacific Speech-to-text API Market, by Deployment Type
1.4.5 Asia Pacific Speech-to-text API Market, by Application
1.4.6 Asia Pacific Speech-to-text API Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2017, Mar – 2021, Nov) Leading Players
Chapter 4. Asia Pacific Speech-to-text API Market by Component
4.1 Asia Pacific Solution Market by Country
4.2 Asia Pacific Services Market by Country
Chapter 5. Asia Pacific Speech-to-text API Market by Vertical
5.1 Asia Pacific BFSI Market by Country
5.2 Asia Pacific IT & Telecom Market by Country
5.3 Asia Pacific Healthcare Market by Country
5.4 Asia Pacific Retail & eCommerce Market by Country
5.5 Asia Pacific Government & Defense Market by Country
5.6 Asia Pacific Media & Entertainment Market by Country
5.7 Asia Pacific Travel & Hospitality Market by Country
5.8 Asia Pacific Others Market by Country
Chapter 6. Asia Pacific Speech-to-text API Market by Organization Size
6.1 Asia Pacific Large Enterprises Market by Country
6.2 Asia Pacific Small & Medium-sized Enterprises (SMEs) Market by Country
Chapter 7. Asia Pacific Speech-to-text API Market by Deployment Type
7.1 Asia Pacific Cloud Market by Country
7.2 Asia Pacific On-premise Market by Country
Chapter 8. Asia Pacific Speech-to-text API Market by Application
8.1 Asia Pacific Fraud Detection & Prevention Market by Country
8.2 Asia Pacific Contact Center & Customer Management Market by Country
8.3 Asia Pacific Risk & Compliance Management Market by Country
8.4 Asia Pacific Content Transcription Market by Country
8.5 Asia Pacific Subtitle Generation Market by Country
8.6 Asia Pacific Others Market by Country
Chapter 9. Asia Pacific Speech-to-text API Market by Country
9.1 China Speech-to-text API Market
9.1.1 China Speech-to-text API Market by Component
9.1.2 China Speech-to-text API Market by Vertical
9.1.3 China Speech-to-text API Market by Organization Size
9.1.4 China Speech-to-text API Market by Deployment Type
9.1.5 China Speech-to-text API Market by Application
9.2 Japan Speech-to-text API Market
9.2.1 Japan Speech-to-text API Market by Component
9.2.2 Japan Speech-to-text API Market by Vertical
9.2.3 Japan Speech-to-text API Market by Organization Size
9.2.4 Japan Speech-to-text API Market by Deployment Type
9.2.5 Japan Speech-to-text API Market by Application
9.3 India Speech-to-text API Market
9.3.1 India Speech-to-text API Market by Component
9.3.2 India Speech-to-text API Market by Vertical
9.3.3 India Speech-to-text API Market by Organization Size
9.3.4 India Speech-to-text API Market by Deployment Type
9.3.5 India Speech-to-text API Market by Application
9.4 South Korea Speech-to-text API Market
9.4.1 South Korea Speech-to-text API Market by Component
9.4.2 South Korea Speech-to-text API Market by Vertical
9.4.3 South Korea Speech-to-text API Market by Organization Size
9.4.4 South Korea Speech-to-text API Market by Deployment Type
9.4.5 South Korea Speech-to-text API Market by Application
9.5 Singapore Speech-to-text API Market
9.5.1 Singapore Speech-to-text API Market by Component
9.5.2 Singapore Speech-to-text API Market by Vertical
9.5.3 Singapore Speech-to-text API Market by Organization Size
9.5.4 Singapore Speech-to-text API Market by Deployment Type
9.5.5 Singapore Speech-to-text API Market by Application
9.6 Malaysia Speech-to-text API Market
9.6.1 Malaysia Speech-to-text API Market by Component
9.6.2 Malaysia Speech-to-text API Market by Vertical
9.6.3 Malaysia Speech-to-text API Market by Organization Size
9.6.4 Malaysia Speech-to-text API Market by Deployment Type
9.6.5 Malaysia Speech-to-text API Market by Application
9.7 Rest of Asia Pacific Speech-to-text API Market
9.7.1 Rest of Asia Pacific Speech-to-text API Market by Component
9.7.2 Rest of Asia Pacific Speech-to-text API Market by Vertical
9.7.3 Rest of Asia Pacific Speech-to-text API Market by Organization Size
9.7.4 Rest of Asia Pacific Speech-to-text API Market by Deployment Type
9.7.5 Rest of Asia Pacific Speech-to-text API Market by Application
Chapter 10. Company Profiles
10.1 LivePerson, Inc. (VoiceBase, Inc.)
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Regional & Segmental Analysis
10.2 VoiceCloud LLC
10.2.1 Company Overview
10.3 Speechmatics Ltd.
10.3.1 Company Overview
10.3.2 Recent strategies and developments:
10.3.2.1 Partnerships, Collaborations, and Agreements:
10.3.2.2 Product Launches and Product Expansions:
10.4 IBM Corporation
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Regional & Segmental Analysis
10.4.4 Research & Development Expenses
10.4.5 Recent strategies and developments:
10.4.5.1 Product Launches and Product Expansions:
10.5 Microsoft Corporation
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expenses
10.5.5 Recent strategies and developments:
10.5.5.1 Partnerships, Collaborations, and Agreements:
10.5.5.2 Product Launches and Product Expansions:
10.6 Google LLC
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expense
10.6.5 Recent strategies and developments:
10.6.6 SWOT Analysis
10.7 Baidu, Inc.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental Analysis
10.7.4 Research & Development Expenses
10.7.5 Recent strategies and developments:
10.7.5.1 Product Launches and Product Expansions:
10.7.5.2 Acquisition and Mergers
10.7.6 SWOT Analysis
10.8 Twilio, Inc.
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Regional Analysis
10.8.4 Research & Development Expense
10.8.5 Recent strategies and developments:
10.9 Amazon Web Services, Inc.
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Segmental and Regional Analysis
10.9.4 Recent strategies and developments:
10.9.4.1 Partnerships, Collaborations, and Agreements:
10.9.4.2 Product Launches and Product Expansions:
10.10. Verint Systems, Inc.
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Segmental and Regional Analysis
10.10.4 Research and Development Expense
10.10.5 Recent strategies and developments:

Companies Mentioned

  • 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.

Methodology

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