This article helps you estimate the cost of creating an app like Speechify. The reason why you need to consider text-to-speech apps as a business project. You will get the cost estimation of each development stage and the UI/UX design. 

Introduction

In the current developed world, generative AI is doing magical things. Generative AI can be the best solution for the text-to-speech convertor. You can convert speech into text and text into speech using generative AI. There is a large market demand for text-to-speech apps right now.

Data shows that the global text-to-speech business is expected to reach a market capitalization of $ 6.52 billion by 2027, up from its $ 2.75 billion estimate in 2021. 

So, there are high chances of growing the profit by creating a text-to-speech app. But, estimating the cost of building such an app, and understanding the investment needed is very essential before you start the development. In this article, you will get the complete costing guide for creating an AI voice generator app like Speechify.

Why Create Text to Speech App Like Speechify?

Any text may be made into speech with the aid of text-to-speech apps like Speechify. You can increase your fluency and learn to communicate with this AI-generated voice. 

Speechify also offers speech-to-text features. That helps you improve your writing skills, and you can convert anything you speak into written text. These features not only provide convenience with the language but can also improve the writing and speaking ability. You can also consider different options, other than Speechify. The best speech therapy app like Ostimo is one of the great apps to take references.

So, considering the huge market size and the features of the app, you must have enough motivation to build a text-to-speech app. Now, let’s understand the cost estimation for building an AI voice generator app. 

Cost to Build an App Like Speechify 

The cost of developing an AI voice generator app depends on various factors. The expenses of each stage of development define the overall investment. The estimated overall cost of building an app like Speechify ranges between 30,000 to $300,000. This cost can vary with the type of features you add to the app. Let’s explore the entire process in detail and estimate the cost of each stage. 

Market Research 

Initiate the process by analyzing the market and defining your target audience. Also, you need to know the market size of the app you are developing. With a complete analysis of the market, you can prepare the strategy to build an app. You need to understand the needs of users and prepare a strategy according to that. The cost of research and planning is estimated from $2,000 to $10,000 as per the complexity.

Designing UI/UX

An attractive and user-friendly interface is one of the primary needs of any app development. As you are providing text to speech service, the perfect arrangement of the text input is crucial. The designer should focus on providing clear and simple arrangements so that users can access your app easily. The expense of designing UI/UX varies from $5,000 to $15,000. 

Development Cost

Now, comes the crucial part, the app development. You can hire app developers with great coding skills, but you also need to keep in mind your budget. 

Development expenses include hiring skilled AI developers and ensuring seamless integration of these complex algorithms into the app infrastructure. While these investments might seem substantial, they pave the way for a cutting-edge AI-driven voice generation experience, reinforcing the app's innovative edge and user appeal.

The app development is divided into several steps. Let’s follow each step and identify the cost of each stage. 

AI and Machine Learning

When creating an AI app, you need to focus on training your AI tool. The AI voice generator app needs a machine learning algorithm. AI training can be done with a human tutor more efficiently. But the machine learning algorithm is also a good option. 

The human tutor can charge fees but help your AI deliver a more personalized experience to the user. On the other hand, developing a machine learning algorithm also needs investment. Most of the top app development companies are now starting to have human tutors for their AI tools. Identify your requirements and decide what suits you more to your app. 

Front-end and Back-end Development 

The most robust back-end and front-end development is needed for an efficient app. Backend development is needed for the best server-side development. The data storage on the server side should be smooth for a seamless app experience.

The efficient front-end development for creating a user-friendly interface is also an important part. For creating an appealing interface efficient frontend development is a must.  The cost of the development: $20,000 to $50,000. 

Testing and QA Investment 

Ensuring your app runs smoothly requires thorough testing and quality assurance. This step helps catch and fix bugs, ensuring users have a satisfying experience. Thorough functionality tests and user experience assessments need a significant investment of time, advanced technologies, and specialized specialists. Testing may run you anywhere from $5,000 and $15,000. These costs might appear substantial, yet they are necessary. 

Testing not only prevents technical glitches but also solidifies your app's reputation for reliability in the competitive tech landscape. Ultimately, viewing these investments as vital contributions to a trustworthy app underscores their importance in delivering an optimal user experience. 

Cost of Security and Privacy 

Securing user data is crucial, and implementing stringent security measures comes with monetary considerations. Costs involve implementing robust encryption protocols, securing server infrastructure, and adhering to compliance standards. 

Ongoing Maintenance and Update 

To keep your app working smoothly, ongoing maintenance and updates are needed. This process involves regular bug fixing and security patches. The update according to new trends and feature enhancements is also Important. 

App maintenance cost ranges from 15% to 20% of the initial development cost annually. Well, it may seem like a continual expense but considering it as an investment in user satisfaction underscores its importance. 

Conclusion

Strategic planning and budgetary considerations are necessary while developing a text-to-speech application in the dynamic world of AI voice-generating apps.  Embracing each stage's investment ensures innovation, reliability, and user satisfaction, making it a worthwhile venture in the burgeoning market.