Press release
Speech and Voice Recognition Market Future Outlook and by Top key players Analysis (Nuance Communications, Inc., Microsoft Corporation, Alphabet Inc., Cantab Research Limited, Sensory Inc., ReadSpeaker Holding B.V., Pareteum Corporation)
Global Speech and Voice Recognition Market
The report Describes by size, industry status, scope and Demand forecast, competition landscape and growth opportunity. This research report categorizes the Global Speech and Voice Recognition Market by companies, region, type and end-use industry.
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Global Speech and Voice Recognition Market Statistical Overview Report 2018 gives an outstanding tool for market Survey, openings, and vital key and strategic basic leadership. This report perceives that in this quickly advancing and competitive scenario by up-coming data on the basis of research execution and settled on basic choices for development and benefit. It gives data on Latest trends and advancements and sheds light on various sectors, limitations and advancements, and on the evolving structure of the market.
Major Market Competitors
Some of the major players of the global speech and voice recognition market
• Nuance Communications, Inc.,
• Microsoft Corporation,
• Alphabet Inc.,
• Cantab Research Limited,
• Sensory, Inc.,
• ReadSpeaker Holding B.V.,
• Pareteum Corporation,
• Iflytek Co., Ltd. (China),
• VoiceVault Inc.,
• VoiceBox Technologies Corp.,
• LumenVox, LLC,
• Acapela Group SA,
• Vocalzoom Ltd,
• Biotrust ID B.V.,
• Uniphore Software Solutions Pvt. Ltd.,
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Global Speech and Voice Recognition Market is expected to reach USD 6,770.21 Million by 2025 from USD 1,095.00 Million in 2017, at a CAGR of 25.7% 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.
Table of Contents
1. Introduction
2. Market Segmentation
3. Market Overview
4. Executive Summary
5. Premium Insights
6. Global, By Component
7. Product Type
8. Delivery
9. Industry Type
10. Geography
10.1. Overview
10.2. North America
10.3. Europe
10.4. Asia-Pacific
10.5. South America
10.6. Middle East & Africa
11. Company Landscape
12. Company Profiles
13. Related Reports
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Global 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), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)- Industry Trends and Forecast to 2025
Major Market Drivers of Global Speech and Voice Recognition Market
• Increasing adoption of mobile banking by e-commerce retailers & banks
• Growth in Voice Control-Based Smart Assistive Devices in Consumer and Enterprise Vertical
• Increased Demand for Speech-Based Biometric Systems for Multifactor Authentication
• Growing Impact of Artificial Intelligence (AI) on the Accuracy of Speech and Voice Recognition
Key Drivers: Global Speech and Voice Recognition Market
Some of the major factors driving the market for global speech and voice recognition are effective integration due to increased demand for voice and speech-based biometric systems, increasing demand for voice authentication in mobile applications. Use of artificial intelligence (AI) on the accuracy of speech and voice recognition is the other factor which will drive the demand of global speech and voice recognition market.
Disadvantages related to speech and voice recognition systems are the factor which may hinder the growth of this market.
Development of speech and voice recognition software for multi-linguistics and local languages, speech and voice recognition technology used in autonomous cars, use of speech and voice recognition in service robotics and use of speech and voice recognition technology in the education of temporarily and permanently disabled students are some of the factors which will drive the market in future.
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Market Segmentation
Global Speech and Voice Recognition Market is segmented on the basis of delivery method into
• Artificial intelligence (AI) based, and
• Non-artificial intelligence based.
The global speech and voice recognition market is also segmented on the basis of technology into
• Voice recognition, and
• Speech recognition.
On the basis of end user the global speech and voice recognition market is further segmented into
• automotive,
• enterprise,
• consumer,
• banking,
• financial services, & insurance,
• government,
• retail,
• healthcare,
• military,
• legal,
• Education.
On the basis of geography, global speech and voice recognition market report covers data points for 28 countries across multiple geographies such as
• North America,
• South America,
• Europe,
• Asia-Pacific, and
• Middle East & Africa.
Key Points: Global Speech and Voice Recognition Market
Nuance Communications, Inc. is going to dominate the speech and voice recognition market following with Microsoft and IFLYTEK CO. LTD. along with others such as HOYA Corporation, Raytheon, Advanced Voice Recognition Systems, Inc., Pareteum, Sensory, IncVoiceVault Inc., LumenVox, LLC., Acapela Group SA, VocalZoom, BioTrust, Uniphore, Voicebox Technologies Corporation and Cantab Research Limited among others.
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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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