WUHAN, China, May 12, 2025 /PRNewswire/ — On May 7-9, 2025, The smarter E Europe, Europe’s largest exhibition for the energy industry, opened in Munich, and EVE Energy brought its innovative energy storage products and full-scenario solutions to the exhibition, leading the high-quality development of the energy storage industry, and contributing to the promotion of the global energy transition to low-carbon.

MR Flagship Series, popular at the exhibition

Based on advanced and innovative technologies and structural designs, EVE Energy’s Mr. Big ultra-large-capacity battery cell and Mr. Giant 5MWh minimalist system stood out by virtue of their pioneering advantages in large batteries and their application practices, attracting many visitors to stop by and make inquiries.

As a leader and practitioner of large battery technology, EVE Energy gives full play to the advantages of simple integration of large batteries to make power plant operation and maintenance easier, realizing a 30% reduction in the cost of manual operation and maintenance for the whole life cycle of the power plant. In order to continuously create value, EVE Energy promotes Mr. Giant to take the lead in operation, realizing stable operation for more than 8 months with an efficiency of more than 95.5%, and truly achieving the goal of “fighting for every kilowatt-hour”, so that every kilowatt-hour is profitable.

Household storage product solutions, empowering green energy

Since the launch of household storage product solutions, EVE Energy has empowered the design and manufacturing of the whole chain of products with its advanced innovation strength and global manufacturing strength, and launched a customized model to meet the diversified needs of the global market.

At the exhibition site, EVE Energy’s AC/DC integrated energy storage system made its overseas debut. The product adopts highly integrated design and APP intelligent interactive application to improve installation convenience and flexibility, continuously enhance customers’ electricity experience and energy management efficiency, and provide users with low-carbon quality life.

Comprehensively promote localized services and enhance service guarantee

Facing the global energy storage market development boom, EVE Energy’s localized professional team and perfect service network in Europe will provide industry customers with more efficient, reliable and safe energy storage product solutions, and comprehensively guarantee the service experience.

In front of the wave of green revolution, EVE Energy will stick to its original intention, continue technological innovation, promote industrial upgrading, and provide global customers with more advanced, efficient and reliable energy storage products, so as to jointly promote the global energy transformation and sustainable development.

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MUMBAI, India, May 12, 2025 /PRNewswire/ — Dun & Bradstreet, a global leader in business decisioning data and analytics, has released its Economy Observer report for May 2025. Economy Observer is a monthly report sharing in-depth analysis of key macroeconomic developments in India and provides forecasts for key economic indicators, and insight into the expected direction of the Indian economy.

Key economic forecast:

Real Economy: Dun & Bradstreet has revised its GDP growth forecast for 2025-26 to 6.3% from 6.8%, reflecting rising global uncertainties and external headwinds such as U.S. tariff pressures and ongoing trade tensions that continue to weigh on exports and private investment. However, the Reserve Bank of India’s shift in policy stance to ‘accommodative’, coupled with the potential for further rate cuts, signals a proactive effort to stimulate domestic demand. At the same time, domestic factors, liquidity conditions, and some positive performing sectors as reflected in the recent Index of Industrial Production (IIP) data are expected to offer partial support. In this context, Dun & Bradstreet projects a moderate improvement in the IIP to 3.2% in April from 3.0% in March, despite ongoing weakness in manufacturing and mining.

Price Scenario: In April 2025, India’s inflation outlook remains favorable, with both retail and wholesale price pressures expected to ease. Dun & Bradstreet forecasts CPI inflation to moderate to 2.8% in April down from 3.3% in March, supported by steady rural consumption driven by welfare measures, that have bolstered agricultural output and rural demand. On the wholesale front, WPI inflation is projected to decline to 1.3% in April, from 2.0% in March, reflecting muted input cost pressures and soft global commodity prices, despite recent volatility in metal markets. While copper prices have surged and other base metals exhibit mixed trends, these are expected to have a more pronounced impact on future inflation and industrial cost structures rather than immediate wholesale price inflation. Overall, the inflation trajectory appears benign in the near term, underpinned by supportive domestic factors and a stable supply outlook.

Money & Finance: India’s financial markets in April 2025 reflect a softening interest rate environment, supported by easing inflation, stable borrowing costs, and cautious credit dynamics. Dun & Bradstreet’s forecast of the 10-year G-Sec yield moderating to 6.7%, 91-day T-Bill yield holding at 6.5%, and bank credit growth rising to 11.5% in April from 11% in March is driven by the RBI’s continued monetary easing—marked by a second consecutive 25 bps repo rate cut to 6.00%—and improving macroeconomic stability. Despite the current liquidity deficit, as evidenced by the muted response to the ₹1.5 trillion VRR auction, which attracted only ₹25,431 crore in bids. The RBI’s ₹40,000 crore OMO purchase further supports liquidity, reinforcing expectations of a gradual recovery in credit and investment activity.

External Sector: In March 2025, the INR/USD exchange rate strengthened to 86.6, Dun & Bradstreet’s forecasts pointing to further appreciation to 85.8 in April and 85.2 by May, supported by easing global inflation and reduced capital outflows. The Reserve Bank of India’s strategic interventions have helped stabilize the currency despite global financial market volatility and speculation in currency markets. A narrower trade deficit of USD 12.5 billion in April, due to lower non-essential imports, along with ₹14,670 crore in net FII inflows, has further improved the balance of payments and reinforced investor confidence, strengthening the rupee.

Arun Singh, Global Chief Economist, Dun & Bradstreet said, “India’s macroeconomic near-term outlook signals cautious optimism, with the RBI steering a delicate balance between growth and macroeconomic stability. Prospects for the manufacturing sector appear strong, with expectations of a shift in demand from U.S. firms moving away from China toward India. Inflation is low because of weak commodity prices, allowing the RBI to cut the repo rate again in April. This will further boost domestic demand, which is already supported by steady rural consumption. India’s recovery will hinge on sustained policy support and the stabilization of the global economic landscape. The path forward, while not without risks, is marked by underlying structural strength and policy agility.”

*Weekly Average ** Dun and Bradstreet Forecasts.”

About Dun & Bradstreet:

Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit www.dnb.com.

Dun & Bradstreet Information Services India Private Limited is headquartered in Mumbai and provides clients with data-driven products and technology-driven platforms to help them take faster and more accurate decisions across finance, risk, compliance, information technology and marketing. Working towards Government of India’s vision of creating an Atmanirbhar Bharat (Self-Reliant India) by supporting the Make in India initiative, Dun & Bradstreet India has a special focus on helping entrepreneurs enhance their visibility, increase their credibility, expand access to global markets, and identify potential customers & suppliers, while managing risk and opportunity.

India is also the home to Dun & Bradstreet Technology & Corporate Services LLP, which is the Global Capabilities Center (GCC) of Dun & Bradstreet supporting global technology delivery using cutting-edge technology. Located at Hyderabad, the GCC has a highly skilled workforce of over 500 employees, and focuses on enhanced productivity, economies of scale, consistent delivery processes and lower operating expenses.

Visit www.dnb.co.in for more information.

Click here for all Dun & Bradstreet India press releases.

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The global speech-to-text API market is experiencing rapid growth due to rising demand for voice recognition technology in smart devices and cloud-based services. Businesses are adopting these solutions to enhance productivity, accessibility, and customer experiences, driving further expansion.

WILMINGTON, Del.  , May 12, 2025 /PRNewswire/ — Allied Market Research published a report titled, “Speech-to-text API Market – Global Opportunity Analysis and Industry Forecast, 2024-2034,” valued at $5 Billion in 2024. The market is expected to grow at a CAGR of 15.2% from 2025 to 2034, reaching $21 Billion by 2034. Key factors fueling this growth include the increasing adoption of AI-powered voice recognition, demand for real-time transcription in healthcare and legal sectors, and the rise of voice-enabled smart devices. In addition, advancements in natural language processing (NLP) and cloud-based solutions are accelerating market expansion.

Report Overview:

The speech-to-text API market is driven by the rising demand for voice-enabled applications in smart devices, virtual assistants, and customer service automation. Advancements in AI, machine learning, and NLP enhance accuracy, fueling adoption across healthcare, legal, and education sectors. The shift toward cloud-based solutions and the need for real-time transcription in multilingual environments further propel growth. In addition, increase in remote work trends and the push for accessibility compliance boost market expansion.

However, high development costs and data privacy concerns hinder market growth, especially in regulated industries. Accuracy challenges with accents, background noise, and dialects limit adoption. Integration complexities with legacy systems and a lack of skilled professionals also pose barriers, slowing down implementation in some enterprises.

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Key Segmentation Overview:

The speech-to-text API market is segmented on the basis of component, enterprise size, application, industry vertical, and region.

By Component: Software and Services.By Enterprise Size: Large Enterprise and SMEs.By Application: Contact Center And Customer Management, Content Transcription, Fraud Detection & Prevention, Risk & Compliance Management, Subtitle Generation, and Others.By Industry Vertical: BFSI, IT & Telecom, Healthcare, Retail & E-Commerce, Media & Entertainment, Education, Government & Defense, and Others.By Region:North America (U.S. and Canada) Europe (UK, Germany, France, Italy, Spain, and rest of Europe)Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific)LAMEA (Latin America, Middle East, and Africa)

Market Highlights

By Component, the software segment dominated the market in 2024 and is expected to continue leading due to increasing demand for cloud-based, AI-powered transcription solutions and seamless API integrations across platforms.By Enterprise Size, the SMEs segment witnessed significant growth due to cost-effective, scalable speech-to-text solutions that enhance productivity, customer engagement, and compliance without heavy infrastructure investment.By Application, fraud detection and prevention is expected to register the highest growth, due to the rising need for real-time voice analytics, call monitoring, and AI-driven scam detection in financial and telecom sectors.By Industry Vertical, the education sector is expected to register the highest growth, due to the adoption of voice-enabled e-learning tools, lecture transcription, and accessibility features for students with disabilities.

Report Coverage & Details:

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Factors Affecting Market Growth & Opportunities:

The global speech-to-text API market is experiencing rapid expansion, driven by several key factors. Increase in adoption of AI and ML has significantly enhanced transcription accuracy, making these solutions indispensable across industries such as healthcare, legal, and customer service. The proliferation of smart devices and voice-enabled applications, including virtual assistants, further fuels demand. In addition, the shift toward cloud-based solutions offers scalability and cost-efficiency, particularly for SMEs. The growing emphasis on accessibility and compliance with regulations also promotes market growth, as organizations seek inclusive communication tools.

However, challenges such as data privacy concerns, integration complexities with legacy systems, and accuracy limitations with diverse accents & noisy environments restrain market potential. High development costs and a shortage of skilled professionals further hinder adoption. Despite these barriers, emerging opportunities in fraud detection, real-time analytics, and multilingual support present significant growth avenues. The education sector, in particular, offers untapped potential with the rise of e-learning and voice-enabled educational tools. As NLP and deep learning technologies advance, the market is poised for further innovation, creating opportunities for vendors to develop specialized, industry-specific solutions.

Regulatory Landscape & Compliance:

The speech-to-text API market is significantly influenced by evolving data privacy and security regulations, such as GDPR (Europe), CCPA (California), and HIPAA (healthcare sector), which mandate strict handling of voice data. Compliance with these laws is critical, as APIs often process sensitive personal and financial information. Providers must implement end-to-end encryption, anonymization techniques, and secure storage to meet regulatory standards.

In addition, industry-specific regulations—such as PCI-DSS for payment processing and FERPA in education, impact deployment, requiring tailored solutions. The rise of AI ethics guidelines  also affects development, ensuring transparency and bias mitigation in speech recognition algorithms.

Non-compliance risks hefty fines and reputational damage, pushing vendors to adopt auditable, privacy-by-design frameworks. Meanwhile, regions with laxer data laws have see faster adoption but face future regulatory tightening. Overall, adherence to compliance standards remains a key competitive differentiator in this rapidly growing market.

Technological Innovations & Future Trends:

AI-Powered Real-Time Transcription: Startups and tech giants are leveraging deep learning and neural networks to deliver ultra-accurate, low-latency speech-to-text solutions. For example, Deepgram uses end-to-end AI for enterprise-grade transcription, while Rev.ai offers real-time APIs for developer integrations.Edge Computing & On-Device Processing: Companies like Sonantic (acquired by NVIDIA) and Picovoice are enabling offline speech recognition for privacy-sensitive applications, reducing reliance on cloud infrastructure.Multilingual & Dialect Adaptation: Innovations in self-supervised learning allow APIs to support underrepresented languages and dialects. Platforms like Speechmatics and Google’s Chirp are expanding access for non-English speakers.Voice Analytics for Fraud Prevention: Fintech and call-center industries are adopting speech-to-text APIs with emotion/sentiment analysis to detect scams, monitor compliance, and enhance customer interactions.

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Regional Insights

The Asia-Pacific region emerged as the dominant force in the speech-to-text API market, primarily due to its massive smartphone user base and rapid digital transformation across key economies. Countries like China, India, and Japan drove growth through widespread adoption of AI-powered voice assistants and smart devices. Government initiatives promoting digital infrastructure and smart city projects further accelerated market expansion. The region’s thriving e-commerce sector and booming BPO industry created substantial demand for real-time transcription services.

Latin America is poised for explosive growth in the speech-to-text API market, fueled by increasing digitalization across multiple sectors. Brazil and Mexico are leading this charge, with growing adoption in fintech, telehealth, and customer service applications. The region’s unique linguistic needs are driving demand for sophisticated Spanish and Portuguese language processing capabilities. Rising smartphone penetration and improved internet infrastructure are making cloud-based voice solutions more accessible.

Key Players:

Major players in the speech-to-text API market include Amazon Web Services, Inc., IBM Corporation, Google LLC, VoiceCloud, Descript, Rev.com, Microsoft, Voicebase, Inc., Amberscript Global B.V., Speechmatics, Verbit.ai, Sonix.ai, TurboScribe, Otter.ai, Apple, Inc., WhisperAPI.com, Deepgram Inc., AssemblyAI, Inc., Twilio Inc., and Trint. These companies are focusing on expanding their service offerings, strategic partnerships, and enhancing digital accessibility, customer outreach, and financial inclusion in the speech-to-text API industry.

If you have any questions, please feel free to contact our analyst at:

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Key Strategies Adopted by Competitors

In August 2023, Descript acquired SquadCast, a move that enhances Descript’s capabilities by integrating reliable remote recording directly into its platform. This acquisition allows Descript users to access SquadCast’s remote recording features for free, making it easier to record, edit, and publish audio and video content all in one place. The integration aims to streamline the workflow for podcasters and content creators, offering high-quality recordings even if internet connections are unstable. In April 2025, Trint launched Trint Live, an innovative feature that offers real-time speech-to-text transcription. It allows users to capture and transcribe live conversations, meetings, and events seamlessly across both desktop and mobile devices. Trint Live supports over 30 languages and can automatically detect and transcribe the spoken language, making it a powerful tool for breaking down language barriers. This feature is designed to enhance productivity by providing immediate access to editable transcripts, which can be shared and collaborated on in real-time.In March 2025, Twilio partnered with Cedar to enhance patient billing experiences using AI-powered solutions. This partnership leverages Twilio’s scalable communications technology to streamline patient interactions and improve accessibility. Cedar utilizes Twilio’s SMS capabilities for bill notifications and appointment reminders and integrates Twilio’s Voice API for secure phone payments. In addition, Twilio’s ConversationRelay service will enable AI-powered voice agents to handle patient billing inquiries, reducing wait times and improving satisfaction.

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