Europe Speech and Voice Recognition Market growing at highest CAGR of 24.7% by 2025 - Nuance Communications, Inc. and IFLYTEK CO. LTD. along with others such as HOYA Corporation, Raytheon, Advanced Voice Recognition Systems, Inc
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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“Europe Speech and Voice Recognition Market” By Technology (Artificial Intelligence Based Software, Traditional Software), Product Type (Speech Recognition Software, Voice Recognition Software), Deployment (Cloud Based, On Premise), Industry (Entertainment & Mobile Apps, Banking, Healthcare, Automobiles, Analytics, Security, Education & Academics), By Country (Germany, France, United kingdom, Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Rest of Europe)- Industry Trends and Forecast to 2025
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The Europe speech and voice recognition market is segmented based on technology into two notable segments;
artificial intelligence based software and
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
The Europe speech and voice recognition market is segmented based on industry into eight notable segments system;
entertainment and mobile apps,
academics and others
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Based on geography the market is segmented into 11 countries,
Switzerland and rest of Europe
Major Market Competitors
Nuance Communications, Inc
IFLYTEK CO. LTD
Advanced Voice Recognition Systems, Inc.,
Acapela Group SA,
Voicebox Technologies Corporation and
Cantab Research Limited
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