According to the latest market research study released by Technavio, the global text-to-speech education technology market is expected to grow at a CAGR of close to 9% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global text-to-speech education technology market based on schools:
Global text-to-speech education technology market share by schools 2015
|
Schools for Students with Special Needs |
59.37% |
|
Higher Educational Institutions |
25.10% |
|
K-12 Schools |
15.53% |
Source: Technavio
Global text-to-speech education technology market by schools for students with special needs
The global text-to-speech education technology market by schools for students with special needs was valued at around $1,540 million in 2015 and is predicted to grow at a CAGR of almost 10% by 2020. The rising awareness among governments and educational institutions to provide education for differently abled students will lead to the growth of this market segment. These technologically advanced software aims at enhancing the learning experience for students and to provide knowledge beyond regular classroom teaching. Some schools are implementing smart classroom solutions that includes digital libraries to support teaching and learning.
“Educational institutions are taking additional care in educating children with special needs by developing software and hardware products that offer improved and individualized learning mechanism for students. Some of such tools include text-to-speech, dictation software, word prediction programs, and electronic graphic software and hardware. These solutions have helped the learning abilities for children with special needs and the primary end-users of these solutions are NGOs, state-run organization, and traditional schools and colleges,” says Jhansi Mary, a lead analyst at Technavio for research on education technology.
Global text-to-speech education technology market by higher educational institutions
The global text-to-speech education technology market by higher educational institutions was valued at around $651 million in 2015 and is predicted to grow at a CAGR of over 7% by 2020. The rising adoption of e-learning by higher educational institutions will lead to the growth of this market segment. The higher education sector is observing a shift towards digital educational publications and virtual learning environments that allows students to choose from technical and non-technical online courses. Some of these solutions include features like embedded audio or video files along with communication tools that facilitate interaction between faculty and students. Text-to-speech technology is an integral part of e-learning platform and it helps in improving word recognition, vocabulary, comprehension, fluency, accuracy, and recall capabilities of students.
Global text-to-speech education technology market by K-12 schools
The global text-to-speech education technology market by K-12 schools was valued at almost $403 million in 2015 and is predicted to grow at a CAGR of around 6% by 2020. The using of blended e-learning techniques by schools will boost the demand for text-to-speech education technology in this market segment. The increasing adoption of these software solutions in Asian countries like China and India that aids students in this region to understand and speak the English language will lead to the growth of this market.
The top leading vendors operating in the global text-to-speech education technology market are:
- IVONA Software
- NaturalReader
- NextUp Technologies
Other prominent vendors in the market include Claro Software, Texthelp, goQ Software, LumenVox, Kurzweil Education, and ReadSpeaker.
A more detailed analysis is available in the Technavio report titled, ‘Global Text-To-Speech Education Technology Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Higher Education Active Learning Platform Market 2016-2020
- Global Higher Education M-learning Market 2016-2020
- Global Smart Education Software Market 2016-2020
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