Press release
North America Speech and Voice Recognition Market to Reach USD 1960.60 Million by 2025 | Renowned Players like Nuance Communications, Microsoft, IFLYTEK CO. LTD
Industry Highlights:The North America speech and voice recognition is expected to reach USD 1,960.60 Million by 2025 from USD 312.08 Million in 2017, at a CAGR of 25.7% in the forecast period 2018 to 2025.
The major factors driving the growth of this market are the effective integration due to increased demand for voice and speech-based biometric systems, increasing demand for voice authentication in mobile applications and use of artificial intelligence (AI) on the accuracy of speech and voice recognition. The speech and voice recognition market in the North America region is leading in U.S.
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Top Market Player’s
The key market players for North America speech and voice recognition Market are listed below:
• Nuance Communications, Inc.
• Microsoft
• IFLYTEK CO. LTD.
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
Market Segments
The market is further segmented into:
• Technology
• Product Type
• Deployment
• Industry Type
• Geography
The North America market is segmented on the basis of technology, product type, deployment, industry and geography. The report provides data for 2016 to 2025, 2017 being the current year while 2018 to 2025 is the forecast period for the report.
The North America 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 68.2% market share in 2017 and is expected to grow at the highest CAGR of 28.6% in the forecast period.
The North America 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 82.8% market share in 2017 and is expected to grow at the highest CAGR of 27.3% in the forecast period.
The North America speech and voice recognition market is segmented based on deployment into two notable segments; artificial intelligence based cloud based and on premise.
The North America 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.
Based on geography, the North America speech and voice recognition market is segmented into geographical regions, such as
• U.S.
• Canada
• Mexico
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