Press release
Voice Recognition Market by Top Key Participant: Google, Inc., Baidu, Inc., Facebook, Inc., Amazon.com, Inc., Advanced Voice Recognition Systems, Inc., Apple, Inc., CastleOS Software, LLC
Voice Recognition Market Size 2018-2026
Voice recognition is specialized software developed for identification, authentication, and interpretation of voice commands from users. Consumers use voice recognition solutions in homes and businesses to speak to their computers or other devices, and have words converted into text via word processing and voice recognition. Voice recognition solutions offer functions such as setting an alarm, opening files, and making a reservation among others. Some mobile apps are also customized for business requirements such as medical or legal transcriptions. Use of voice recognition solutions offer benefits such as easier and faster operations, error reduction, enhanced productivity, and improved safety among others.
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The demand for voice recognition solutions has increased in the automotive industry over the years owing to increasing modernization of vehicles, and rising development of autonomous vehicles. The increasing use of voice recognition solutions in mobile banking apps, and electronic health record applications has resulted in voice recognition market growth during the forecast period. The increasing popularity of voice assistive systems, and growing demand from the commercial sector owing to greater accuracy and precision, time efficiency, and reduced human errors is also expected to supplement the growth of voice recognition market. Rising demand from emerging economies and technological advancements support the growth of the market.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Voice Recognition Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
North America generated the highest revenue in the market in 2017 owing to increasing demand of voice recognition solutions from industries such as healthcare, automotive, and BFSI. Introduction of technologically advanced and customized voice recognition solutions by market players in the region and growing adoption of smart homes boost the adoption of voice recognition solutions.
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Competitive Landscape and Key Vendors
The global voice recognitions market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the report include Google, Inc., Baidu, Inc., Facebook, Inc., Amazon.com, Inc., Advanced Voice Recognition Systems, Inc., Apple, Inc., CastleOS Software, LLC, International Business Machines Corporation, Microsoft Corporation, and Nuance Communications, Inc.
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Key Segments
Component
• Hardware
• Software
• Services
Interface
• AI-Based
• Non AI-Based
End-User
• Automotive
• Healthcare
• BFSI
• Consumer
• Retail
• Commercial
• Others
Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Latin America
o Brazil
o Rest of Latin America
• Middle East and Africa
About us Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
We mainly focus on aiding our customers with substantial competitive intelligence, helping them to secure a competitive advantage in the market and accomplish sustainable growth in different market domains. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers. Through dedicated qualitative and quantitative primary and secondary market research and consulting assignments, we adeptly formulate competitive strategies to address business challenges for our clients through analyzing market trends and emerging technologies.
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Polaris Market Research
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