Press release
Europe Speech and Voice Recognition Market Trends, Market Share, Industry Size, Growth, Opportunities with Excellent CAGR of 24.7% and Market Forecast to 2025
Europe Speech and Voice Recognition Market
Market Analysis
Europe Speech and Voice Recognition Market is expected to reach USD 1,665.08 Million by 2025 from USD 286.89 Million in 2017, at a CAGR of 24.7% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Market Segmentation
The Europe speech and voice recognition market is segmented based on technology into two notable segments
• artificial intelligence based software and
• traditional software
The Speech and voice recognition market is dominated by artificial intelligence based software with 69.5% market share in 2017 and is expected to grow at the highest CAGR of 27.2% in the forecast period.
The Europe speech and voice recognition market is segmented based on technology into two notable segments system;
• speech recognition software and
• voice recognition software
Speech recognition software is sub segmented on the basis of product type and usage. On the basis of product type, speech recognition software is sub segmented into text to speech and speech to text. Speech to text is further sub segmented into binary and multilingual. On the basis of usage, speech recognition software is sub segmented into back end, front end and end to end. Voice recognition software is sub segmented into voice verification software and voice identification software. The speech and voice recognition market is dominated by speech recognition software with 84.0% market share in 2017 and is expected to grow at the highest CAGR of 26.0% in the forecast period.
The Europe speech and voice recognition market is segmented based on deployment into two notable segments;
• artificial intelligence based cloud based and
• on premise
The Europe speech and voice recognition market is segmented based on industry into eight notable segments system;
• entertainment and mobile apps,
• banking,
• healthcare,
• automobiles,
• analytics,
• security,
• education and
• academics and others
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Based on geography the market is segmented into 11 countries,
• Germany,
• France,
• U.K.,
• Italy,
• Spain,
• Russia,
• Turkey,
• Netherlands,
• Belgium,
• Switzerland and rest of Europe
Frequently Asked Questions?
• What will the market size be in 2025?
• What are the key factors driving the European market?
• What are the challenges to market growth?
• Who are the key players in the market?
• What are the market opportunities and threats faced by the key players?
• What will be the growth rate in 2025?
• Which strategies are used by top players in the Europe Speech and Voice Recognition Market?
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Major Market Competitors
• Nuance Communications, Inc
• IFLYTEK CO. LTD
• HOYA Corporation,
• Raytheon,
• Advanced Voice Recognition Systems, Inc.,
• Pareteum,
• Sensory, Inc
• VoiceVault Inc.,
• LumenVox, LLC
• Acapela Group SA,
• VocalZoom,
• BioTrust,
• Uniphore,
• Voicebox Technologies Corporation and
• Cantab Research Limited
About Data Bridge Market Research:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process
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Data Bridge Market Research
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Email: sopan.gedam@databridgemarketresearch.com
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