The global Speech-to-text API market size is projected to grow from $1.6 billion in 2021 to $4.1 billion in 2027 with an average annual growth rate (CAGR) of 20% over the forecast period. The major growth driver of the market is the increased adoption of smart speakers and mobile phones.
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Speech-to-Text API Market Segmentation
By Deployment Mode
• Cloud
• On-Premises
By Application
• Fraud Detection & Prevention
• Risk & Compliance Management
• Customer Management
• Content Transcription
• Other Applications
By Industry Vertical
• IT & Telecom
• Travel & Hospitality
• Media & Entertainment
• Retail & Ecommerce
• Healthcare
• Manufacturing
• Government & Defense
• Others
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
