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Europe 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: Europe
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5570986
The Europe Speech-to-text API Market is expected to witness market growth of 18.1% CAGR during the forecast period (2021-2027).

The increased use of smart speakers and phones by individuals all over the world is a major growth factor for the market. This is due to a speech-to-text API function that recognizes a human voice and executes commands without human intervention. In addition, an increase in industry and individual preference for voice-based technology goods and solutions is expected to create more demand for these solutions. In addition, ongoing research and development for innovative speech-to-text solutions for the disabled population is expected to help the advent of innovative solutions. However, the absence of multilingual support for transcribing audio from several sources act as a barrier to the growth of the market.

Advances in speech recognition technologies have prompted companies to design voice-enabled interfaces that meet consumer requirements due to significant advancements in natural language processing (NLP) and speech quality. Improvements in AI, cloud computing, and information technology has enabled breakthroughs like voice-to-text to advance at a rapid pace, contributing to the growth of the speech-to-text API market.

Currently, the European market is dominated by top technology companies such as Microsoft Corporation, Google LLC, and others. The use of smart speakers in European countries such as the United Kingdom, Germany, and France is likely to continue to expand in the upcoming years. In addition, increasing investment in the development of voice technology in the region is expected to help the emergence of innovative solutions.

Due to the rapid development of digital technologies in Europe, key companies are rapidly embracing the speaker for smart homes. In the United Kingdom, for example, millions of individuals use speakers. Similarly, Germany is expected to implement a new regulation for flexible online media houses in February 2020, which will treat voice assistants as end-user interfaces and make them more accountable to the country's rules.

The Germany market dominated the Europe 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 $387.4 million by 2027. The UK market is poised to grow at a CAGR of 17.2% during (2021 - 2027). Additionally, The France market is expected to showcase a CAGR of 19% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.

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
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe

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 Europe Speech-to-text API Market, by Component
1.4.2 Europe Speech-to-text API Market, by Vertical
1.4.3 Europe Speech-to-text API Market, by Organization Size
1.4.4 Europe Speech-to-text API Market, by Deployment Type
1.4.5 Europe Speech-to-text API Market, by Application
1.4.6 Europe 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. Europe Speech-to-text API Market by Component
4.1 Europe Solution Market by Country
4.2 Europe Services Market by Country
Chapter 5. Europe Speech-to-text API Market by Vertical
5.1 Europe BFSI Market by Country
5.2 Europe IT & Telecom Market by Country
5.3 Europe Healthcare Market by Country
5.4 Europe Retail & eCommerce Market by Country
5.5 Europe Government & Defense Market by Country
5.6 Europe Media & Entertainment Market by Country
5.7 Europe Travel & Hospitality Market by Country
5.8 Europe Others Market by Country
Chapter 6. Europe Speech-to-text API Market by Organization Size
6.1 Europe Large Enterprises Market by Country
6.2 Europe Small & Medium-sized Enterprises (SMEs) Market by Country
Chapter 7. Europe Speech-to-text API Market by Deployment Type
7.1 Europe Cloud Market by Country
7.2 Europe On-premise Market by Country
Chapter 8. Europe Speech-to-text API Market by Application
8.1 Europe Fraud Detection & Prevention Market by Country
8.2 Europe Contact Center & Customer Management Market by Country
8.3 Europe Risk & Compliance Management Market by Country
8.4 Europe Content Transcription Market by Country
8.5 Europe Subtitle Generation Market by Country
8.6 Europe Others Market by Country
Chapter 9. Europe Speech-to-text API Market by Country
9.1 Germany Speech-to-text API Market
9.1.1 Germany Speech-to-text API Market by Component
9.1.2 Germany Speech-to-text API Market by Vertical
9.1.3 Germany Speech-to-text API Market by Organization Size
9.1.4 Germany Speech-to-text API Market by Deployment Type
9.1.5 Germany Speech-to-text API Market by Application
9.2 UK Speech-to-text API Market
9.2.1 UK Speech-to-text API Market by Component
9.2.2 UK Speech-to-text API Market by Vertical
9.2.3 UK Speech-to-text API Market by Organization Size
9.2.4 UK Speech-to-text API Market by Deployment Type
9.2.5 UK Speech-to-text API Market by Application
9.3 France Speech-to-text API Market
9.3.1 France Speech-to-text API Market by Component
9.3.2 France Speech-to-text API Market by Vertical
9.3.3 France Speech-to-text API Market by Organization Size
9.3.4 France Speech-to-text API Market by Deployment Type
9.3.5 France Speech-to-text API Market by Application
9.4 Russia Speech-to-text API Market
9.4.1 Russia Speech-to-text API Market by Component
9.4.2 Russia Speech-to-text API Market by Vertical
9.4.3 Russia Speech-to-text API Market by Organization Size
9.4.4 Russia Speech-to-text API Market by Deployment Type
9.4.5 Russia Speech-to-text API Market by Application
9.5 Spain Speech-to-text API Market
9.5.1 Spain Speech-to-text API Market by Component
9.5.2 Spain Speech-to-text API Market by Vertical
9.5.3 Spain Speech-to-text API Market by Organization Size
9.5.4 Spain Speech-to-text API Market by Deployment Type
9.5.5 Spain Speech-to-text API Market by Application
9.6 Italy Speech-to-text API Market
9.6.1 Italy Speech-to-text API Market by Component
9.6.2 Italy Speech-to-text API Market by Vertical
9.6.3 Italy Speech-to-text API Market by Organization Size
9.6.4 Italy Speech-to-text API Market by Deployment Type
9.6.5 Italy Speech-to-text API Market by Application
9.7 Rest of Europe Speech-to-text API Market
9.7.1 Rest of Europe Speech-to-text API Market by Component
9.7.2 Rest of Europe Speech-to-text API Market by Vertical
9.7.3 Rest of Europe Speech-to-text API Market by Organization Size
9.7.4 Rest of Europe Speech-to-text API Market by Deployment Type
9.7.5 Rest of Europe 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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