Global AI Speech to Text Tool Market 2025-2029

Description

List of Tables

The AI speech to text tool market is forecasted to grow by USD 8,293.9 mn during 2024-2029, accelerating at a CAGR of 28.8% during the forecast period. The report on the AI speech to text tool market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by escalating enterprise demand for unstructured data analytics and operational efficiency, proliferation of generative AI and large language models enhancing asr capabilities, and increasing mandates and consumer expectations for content accessibility in media and education.

Market Scope
Base Year	2025
End Year	2029
Series Year	2025-2029
Growth Momentum	Accelerate
YOY 2025	27.2%
CAGR	28.8%
Incremental Value	$8,293.9 mn

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.

Technavio's AI speech to text tool market is segmented as below:

By Type

ASR
Real-time transcription systems
Voice recognition systems
Captioning systems
Others

By Content Type

Online courses
Meetings
Podcasts
Films

By End-user

BFSI
Healthcare
IT and telecom
Education
Others

By Geographical Landscape

North America
APAC
Europe
South America
Middle East and Africa

This study identifies the dominance of low-latency, real-time streaming asr in interactive applications as one of the prime reasons driving the AI speech to text tool market growth during the next few years. Also, convergence of asr with multimodal and massively multilingual models and strategic shift towards edge AI and on-device speech processing will lead to sizable demand in the market.

The report on the AI speech to text tool market covers the following areas:

AI Speech To Text Tool Market sizing
AI Speech To Text Tool Market forecast
AI Speech To Text Tool Market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading AI speech to text tool market vendors that include Amazon Web Services Inc., Amberscript Global B.V., AssemblyAI, Deepgram Inc., Gnani Innovations Pvt Ltd., Google Cloud, iFLYTEK Corp., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., Otter.ai Inc., Rev AI, Sensory Inc., Speechmatics, Uniphore Technologies Inc., Verbit.ai, Verint Systems Inc., VoiceBase Inc., and Wit.ai (Meta). Also, the AI speech to text tool market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Product Code: IRTNTR80814

1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market By Geographical Landscape
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by Content Type
- Executive Summary - Chart on Market Segmentation by End-user
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
2.2 Criticality of inputs and Factors of differentiation
- Overview on criticality of inputs and factors of differentiation
2.3 Factors of disruption
- Overview on factors of disruption
2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029

3 Market Landscape

3.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
3.2 Market characteristics
- Market characteristics analysis
3.3 Value chain analysis
- Value chain analysis

4 Market Sizing

4.1 Market definition
- Offerings of companies included in the market definition
4.2 Market segment analysis
- Market segments
4.3 Market size 2024
4.4 Market outlook: Forecast for 2024-2029
- Chart on Global - Market size and forecast 2024-2029 ($ million)
- Data Table on Global - Market size and forecast 2024-2029 ($ million)
- Chart on Global Market: Year-over-year growth 2024-2029 (%)
- Data Table on Global Market: Year-over-year growth 2024-2029 (%)

5 Historic Market Size

5.1 Global AI Speech To Text Tool Market 2019 - 2023
- Historic Market Size - Data Table on Global AI Speech To Text Tool Market 2019 - 2023 ($ million)
5.2 Type segment analysis 2019 - 2023
- Historic Market Size - Type Segment 2019 - 2023 ($ million)
5.3 Content Type segment analysis 2019 - 2023
- Historic Market Size - Content Type Segment 2019 - 2023 ($ million)
5.4 End-user segment analysis 2019 - 2023
- Historic Market Size - End-user Segment 2019 - 2023 ($ million)
5.5 Geography segment analysis 2019 - 2023
- Historic Market Size - Geography Segment 2019 - 2023 ($ million)
5.6 Country segment analysis 2019 - 2023
- Historic Market Size - Country Segment 2019 - 2023 ($ million)

6 Five Forces Analysis

6.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029
6.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029
6.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029
6.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029
6.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029
6.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029
6.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029

7 Market Segmentation by Type

7.1 Market segments
- Chart on Type - Market share 2024-2029 (%)
- Data Table on Type - Market share 2024-2029 (%)
7.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
7.3 ASR - Market size and forecast 2024-2029
- Chart on ASR - Market size and forecast 2024-2029 ($ million)
- Data Table on ASR - Market size and forecast 2024-2029 ($ million)
- Chart on ASR - Year-over-year growth 2024-2029 (%)
- Data Table on ASR - Year-over-year growth 2024-2029 (%)
7.4 Real-time transcription systems - Market size and forecast 2024-2029
- Chart on Real-time transcription systems - Market size and forecast 2024-2029 ($ million)
- Data Table on Real-time transcription systems - Market size and forecast 2024-2029 ($ million)
- Chart on Real-time transcription systems - Year-over-year growth 2024-2029 (%)
- Data Table on Real-time transcription systems - Year-over-year growth 2024-2029 (%)
7.5 Voice recognition systems - Market size and forecast 2024-2029
- Chart on Voice recognition systems - Market size and forecast 2024-2029 ($ million)
- Data Table on Voice recognition systems - Market size and forecast 2024-2029 ($ million)
- Chart on Voice recognition systems - Year-over-year growth 2024-2029 (%)
- Data Table on Voice recognition systems - Year-over-year growth 2024-2029 (%)
7.6 Captioning systems - Market size and forecast 2024-2029
- Chart on Captioning systems - Market size and forecast 2024-2029 ($ million)
- Data Table on Captioning systems - Market size and forecast 2024-2029 ($ million)
- Chart on Captioning systems - Year-over-year growth 2024-2029 (%)
- Data Table on Captioning systems - Year-over-year growth 2024-2029 (%)
7.7 Others - Market size and forecast 2024-2029
- Chart on Others - Market size and forecast 2024-2029 ($ million)
- Data Table on Others - Market size and forecast 2024-2029 ($ million)
- Chart on Others - Year-over-year growth 2024-2029 (%)
- Data Table on Others - Year-over-year growth 2024-2029 (%)
7.8 Market opportunity by Type
- Market opportunity by Type ($ million)
- Data Table on Market opportunity by Type ($ million)

8 Market Segmentation by Content Type

8.1 Market segments
- Chart on Content Type - Market share 2024-2029 (%)
- Data Table on Content Type - Market share 2024-2029 (%)
8.2 Comparison by Content Type
- Chart on Comparison by Content Type
- Data Table on Comparison by Content Type
8.3 Online courses - Market size and forecast 2024-2029
- Chart on Online courses - Market size and forecast 2024-2029 ($ million)
- Data Table on Online courses - Market size and forecast 2024-2029 ($ million)
- Chart on Online courses - Year-over-year growth 2024-2029 (%)
- Data Table on Online courses - Year-over-year growth 2024-2029 (%)
8.4 Meetings - Market size and forecast 2024-2029
- Chart on Meetings - Market size and forecast 2024-2029 ($ million)
- Data Table on Meetings - Market size and forecast 2024-2029 ($ million)
- Chart on Meetings - Year-over-year growth 2024-2029 (%)
- Data Table on Meetings - Year-over-year growth 2024-2029 (%)
8.5 Podcasts - Market size and forecast 2024-2029
- Chart on Podcasts - Market size and forecast 2024-2029 ($ million)
- Data Table on Podcasts - Market size and forecast 2024-2029 ($ million)
- Chart on Podcasts - Year-over-year growth 2024-2029 (%)
- Data Table on Podcasts - Year-over-year growth 2024-2029 (%)
8.6 Films - Market size and forecast 2024-2029
- Chart on Films - Market size and forecast 2024-2029 ($ million)
- Data Table on Films - Market size and forecast 2024-2029 ($ million)
- Chart on Films - Year-over-year growth 2024-2029 (%)
- Data Table on Films - Year-over-year growth 2024-2029 (%)
8.7 Market opportunity by Content Type
- Market opportunity by Content Type ($ million)
- Data Table on Market opportunity by Content Type ($ million)

9 Market Segmentation by End-user

9.1 Market segments
- Chart on End-user - Market share 2024-2029 (%)
- Data Table on End-user - Market share 2024-2029 (%)
9.2 Comparison by End-user
- Chart on Comparison by End-user
- Data Table on Comparison by End-user
9.3 BFSI - Market size and forecast 2024-2029
- Chart on BFSI - Market size and forecast 2024-2029 ($ million)
- Data Table on BFSI - Market size and forecast 2024-2029 ($ million)
- Chart on BFSI - Year-over-year growth 2024-2029 (%)
- Data Table on BFSI - Year-over-year growth 2024-2029 (%)
9.4 Healthcare - Market size and forecast 2024-2029
- Chart on Healthcare - Market size and forecast 2024-2029 ($ million)
- Data Table on Healthcare - Market size and forecast 2024-2029 ($ million)
- Chart on Healthcare - Year-over-year growth 2024-2029 (%)
- Data Table on Healthcare - Year-over-year growth 2024-2029 (%)
9.5 IT and telecom - Market size and forecast 2024-2029
- Chart on IT and telecom - Market size and forecast 2024-2029 ($ million)
- Data Table on IT and telecom - Market size and forecast 2024-2029 ($ million)
- Chart on IT and telecom - Year-over-year growth 2024-2029 (%)
- Data Table on IT and telecom - Year-over-year growth 2024-2029 (%)
9.6 Education - Market size and forecast 2024-2029
- Chart on Education - Market size and forecast 2024-2029 ($ million)
- Data Table on Education - Market size and forecast 2024-2029 ($ million)
- Chart on Education - Year-over-year growth 2024-2029 (%)
- Data Table on Education - Year-over-year growth 2024-2029 (%)
9.7 Others - Market size and forecast 2024-2029
- Chart on Others - Market size and forecast 2024-2029 ($ million)
- Data Table on Others - Market size and forecast 2024-2029 ($ million)
- Chart on Others - Year-over-year growth 2024-2029 (%)
- Data Table on Others - Year-over-year growth 2024-2029 (%)
9.8 Market opportunity by End-user
- Market opportunity by End-user ($ million)
- Data Table on Market opportunity by End-user ($ million)

10 Customer Landscape

10.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

11 Geographic Landscape

11.1 Geographic segmentation
- Chart on Market share By Geographical Landscape 2024-2029 (%)
- Data Table on Market share By Geographical Landscape 2024-2029 (%)
11.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
11.3 North America - Market size and forecast 2024-2029
- Chart on North America - Market size and forecast 2024-2029 ($ million)
- Data Table on North America - Market size and forecast 2024-2029 ($ million)
- Chart on North America - Year-over-year growth 2024-2029 (%)
- Data Table on North America - Year-over-year growth 2024-2029 (%)
11.4 APAC - Market size and forecast 2024-2029
- Chart on APAC - Market size and forecast 2024-2029 ($ million)
- Data Table on APAC - Market size and forecast 2024-2029 ($ million)
- Chart on APAC - Year-over-year growth 2024-2029 (%)
- Data Table on APAC - Year-over-year growth 2024-2029 (%)
11.5 Europe - Market size and forecast 2024-2029
- Chart on Europe - Market size and forecast 2024-2029 ($ million)
- Data Table on Europe - Market size and forecast 2024-2029 ($ million)
- Chart on Europe - Year-over-year growth 2024-2029 (%)
- Data Table on Europe - Year-over-year growth 2024-2029 (%)
11.6 South America - Market size and forecast 2024-2029
- Chart on South America - Market size and forecast 2024-2029 ($ million)
- Data Table on South America - Market size and forecast 2024-2029 ($ million)
- Chart on South America - Year-over-year growth 2024-2029 (%)
- Data Table on South America - Year-over-year growth 2024-2029 (%)
11.7 Middle East and Africa - Market size and forecast 2024-2029
- Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
- Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
- Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)
11.8 US - Market size and forecast 2024-2029
- Chart on US - Market size and forecast 2024-2029 ($ million)
- Data Table on US - Market size and forecast 2024-2029 ($ million)
- Chart on US - Year-over-year growth 2024-2029 (%)
- Data Table on US - Year-over-year growth 2024-2029 (%)
11.9 China - Market size and forecast 2024-2029
- Chart on China - Market size and forecast 2024-2029 ($ million)
- Data Table on China - Market size and forecast 2024-2029 ($ million)
- Chart on China - Year-over-year growth 2024-2029 (%)
- Data Table on China - Year-over-year growth 2024-2029 (%)
11.10 Germany - Market size and forecast 2024-2029
- Chart on Germany - Market size and forecast 2024-2029 ($ million)
- Data Table on Germany - Market size and forecast 2024-2029 ($ million)
- Chart on Germany - Year-over-year growth 2024-2029 (%)
- Data Table on Germany - Year-over-year growth 2024-2029 (%)
11.11 UK - Market size and forecast 2024-2029
- Chart on UK - Market size and forecast 2024-2029 ($ million)
- Data Table on UK - Market size and forecast 2024-2029 ($ million)
- Chart on UK - Year-over-year growth 2024-2029 (%)
- Data Table on UK - Year-over-year growth 2024-2029 (%)
11.12 South Korea - Market size and forecast 2024-2029
- Chart on South Korea - Market size and forecast 2024-2029 ($ million)
- Data Table on South Korea - Market size and forecast 2024-2029 ($ million)
- Chart on South Korea - Year-over-year growth 2024-2029 (%)
- Data Table on South Korea - Year-over-year growth 2024-2029 (%)
11.13 Canada - Market size and forecast 2024-2029
- Chart on Canada - Market size and forecast 2024-2029 ($ million)
- Data Table on Canada - Market size and forecast 2024-2029 ($ million)
- Chart on Canada - Year-over-year growth 2024-2029 (%)
- Data Table on Canada - Year-over-year growth 2024-2029 (%)
11.14 Japan - Market size and forecast 2024-2029
- Chart on Japan - Market size and forecast 2024-2029 ($ million)
- Data Table on Japan - Market size and forecast 2024-2029 ($ million)
- Chart on Japan - Year-over-year growth 2024-2029 (%)
- Data Table on Japan - Year-over-year growth 2024-2029 (%)
11.15 France - Market size and forecast 2024-2029
- Chart on France - Market size and forecast 2024-2029 ($ million)
- Data Table on France - Market size and forecast 2024-2029 ($ million)
- Chart on France - Year-over-year growth 2024-2029 (%)
- Data Table on France - Year-over-year growth 2024-2029 (%)
11.16 India - Market size and forecast 2024-2029
- Chart on India - Market size and forecast 2024-2029 ($ million)
- Data Table on India - Market size and forecast 2024-2029 ($ million)
- Chart on India - Year-over-year growth 2024-2029 (%)
- Data Table on India - Year-over-year growth 2024-2029 (%)
11.17 Brazil - Market size and forecast 2024-2029
- Chart on Brazil - Market size and forecast 2024-2029 ($ million)
- Data Table on Brazil - Market size and forecast 2024-2029 ($ million)
- Chart on Brazil - Year-over-year growth 2024-2029 (%)
- Data Table on Brazil - Year-over-year growth 2024-2029 (%)
11.18 Market opportunity By Geographical Landscape
- Market opportunity By Geographical Landscape ($ million)
- Data Tables on Market opportunity By Geographical Landscape ($ million)

12 Drivers, Challenges, and Opportunity/Restraints

12.1 Market drivers
12.2 Market challenges
12.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
12.4 Market opportunities/restraints

13 Competitive Landscape

13.1 Overview
13.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
13.3 Landscape disruption
- Overview on factors of disruption
13.4 Industry risks
- Impact of key risks on business

14 Competitive Analysis

14.1 Companies profiled
- Companies covered
14.2 Company ranking index
- Company ranking index
14.3 Market positioning of companies
- Matrix on companies position and classification
14.4 Amazon Web Services Inc.
- Amazon Web Services Inc. - Overview
- Amazon Web Services Inc. - Product / Service
- Amazon Web Services Inc. - Key news
- Amazon Web Services Inc. - Key offerings
- SWOT
14.5 Amberscript Global B.V.
- Amberscript Global B.V. - Overview
- Amberscript Global B.V. - Product / Service
- Amberscript Global B.V. - Key offerings
- SWOT
14.6 AssemblyAI
- AssemblyAI - Overview
- AssemblyAI - Product / Service
- AssemblyAI - Key offerings
- SWOT
14.7 Deepgram Inc.
- Deepgram Inc. - Overview
- Deepgram Inc. - Product / Service
- Deepgram Inc. - Key offerings
- SWOT
14.8 Gnani Innovations Pvt Ltd.
- Gnani Innovations Pvt Ltd. - Overview
- Gnani Innovations Pvt Ltd. - Product / Service
- Gnani Innovations Pvt Ltd. - Key offerings
- SWOT
14.9 Google Cloud
- Google Cloud - Overview
- Google Cloud - Product / Service
- Google Cloud - Key offerings
- SWOT
14.10 iFLYTEK Corp.
- iFLYTEK Corp. - Overview
- iFLYTEK Corp. - Product / Service
- iFLYTEK Corp. - Key offerings
- SWOT
14.11 International Business Machines Corp.
- International Business Machines Corp. - Overview
- International Business Machines Corp. - Business segments
- International Business Machines Corp. - Key news
- International Business Machines Corp. - Key offerings
- International Business Machines Corp. - Segment focus
- SWOT
14.12 Microsoft Corp.
- Microsoft Corp. - Overview
- Microsoft Corp. - Business segments
- Microsoft Corp. - Key news
- Microsoft Corp. - Key offerings
- Microsoft Corp. - Segment focus
- SWOT
14.13 Nuance Communications Inc.
- Nuance Communications Inc. - Overview
- Nuance Communications Inc. - Product / Service
- Nuance Communications Inc. - Key offerings
- SWOT
14.14 Otter.ai Inc.
- Otter.ai Inc. - Overview
- Otter.ai Inc. - Product / Service
- Otter.ai Inc. - Key offerings
- SWOT
14.15 Rev AI
- Rev AI - Overview
- Rev AI - Product / Service
- Rev AI - Key offerings
- SWOT
14.16 Speechmatics
- Speechmatics - Overview
- Speechmatics - Product / Service
- Speechmatics - Key offerings
- SWOT
14.17 Uniphore Technologies Inc.
- Uniphore Technologies Inc. - Overview
- Uniphore Technologies Inc. - Product / Service
- Uniphore Technologies Inc. - Key offerings
- SWOT
14.18 Verbit.ai
- Verbit.ai - Overview
- Verbit.ai - Product / Service
- Verbit.ai - Key offerings
- SWOT

15 Appendix

15.1 Scope of the report
15.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
15.3 Currency conversion rates for US$
- Currency conversion rates for US$
15.4 Research methodology
- Research methodology
15.5 Data procurement
- Information sources
15.6 Data validation
- Data validation
15.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
15.8 Data synthesis
- Data synthesis
15.9 360 degree market analysis
- 360 degree market analysis
15.10 List of abbreviations
- List of abbreviations