Also, Rakutens native communication app based on Rich Communication Services (RCS) standards will be able to provide Rakuten Mobile customers with the ability to access self-service features by voice or by text using the Nuance Conversational IVR. Through this partnership, both the companies will be leveraging Conversational AI Services and Engagement AI Services. to add Nuance Intelligent Engagement AI Services to the Rakuten Communications Platform (RCP). In September 2020, Nuance Communications partnered with Rakuten Mobile, Inc.
The company’s solutions and technologies for the text-to-speech market are Conversational IVR, Nuance Vocalizer, Vocalizer for Embedded Solutions, Vocalizer Expressive Studio, and Loquendo TTS provide high-performance mixed-signal and standard product solutions.
It offers customers high accuracy in automated speech recognition, capabilities for natural language understanding, dialog and information management, biometric speaker authentication, text-to-speech, and optical character recognition (OCR) capabilities. The company offers software solutions and applications along with support services and training. Nuance Communications is a leading provider of voice recognition solutions and natural language understanding technologies for businesses and consumers globally. Top 2 players in the text-to-speak Market are: To know about the assumptions considered for the study download the pdf brochure The major strategies adopted by the top 5 players in the text-to-speech market included product launches and developments, collaborations, and acquistions which helped them to innovate on their product offerings and broaden their customer base. (US), Amazon.Com (US), Readspeaker (Netherlands), LumenVox LLC (US). In 2020, the text-to-speech market was dominated by Nuance Communication (US), Microsoft Corporation (US), IBM Corporation (US), Google, Inc. However, the lack of prosody and pronunciation of naturally occurring speech may restrain the growth of the market during the review period.
The rising demand for handheld devices, increased government spending on education for differently-abled, the dependence of the growing elderly population on technology, and the rising number of people with different learning disabilities or learning styles are factors driving the growth of the text-to-speech market. The text-to-speech market was valued at USD 2.0 billion in 2020 and is estimated to reach USD 5.0 billion by 2026 registering a CAGR of 14.6% during the forecast period (2021–2026).
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