Speech and Voice Recognition Market Global Business Growth and Future Trends: Top Players are Hoya, Raytheon, Sensory, Inc., Anhui USTC iFLYTEK Co, VoiceVault, LumenVox, Acapela Group, Nuance Communications, Microsoft, Mercedes-Benz USA, Google, Apple

New report published by Data Bridge Market Research Which offers insights on the “Global Speech and Voice Recognition Market”. The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, restraints, current trends of the past and present times, supervisory scenario, and technological growth. A thorough analysis of these elements has been accepted for defining the future growth prospects of the Global Speech and Voice Recognition Market. This research report helps provide insights into innovations, opportunities and new development in the Speech and Voice Recognition and its connected industries. It includes vital trends and dynamics of the market at regional level for the given forecast period. “Speech and Voice Recognition “is a practice that helps organizations to improve performance by analyzing existing organizations' problems and developing improvement plans. Organizations can leverage the services of management consultants for a variety of reasons, including external (and perhaps objective) advice and access to consultant expertise.

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.

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Key players/Competitors Profiled in this report are:

Nuance Communications, Microsoft, Hoya, Raytheon, Sensory, Inc., Anhui USTC iFLYTEK Co, VoiceVault, LumenVox, Acapela Group, VocalZoom, BioTrust, Voicebox Technologies Corporation, Cantab Research Limited, Apple, Mercedes-Benz USA, HARMAN International, Google, ReadSpeaker, a HOYA Speech Company, Pareteum Corporation NYSE American: TEUM, Advanced Voice Recognition Systems and others

A bird’s eye view of the Speech and Voice Recognition Industry made available in the report helps readers to understand the key drivers, restraints, challenges, and opportunities that are shaping the Speech and Voice Recognition market. Furthermore, the report evaluates challenges experienced from buyers and sellers side.

For a pervasive understanding of the market, business strategies and latest developments of the vital players accompanied with co-development deals and market size have also been enclosed. Briefly citing, their revenue share, contact information and meticulous SWOT analysis is available. The regions which have been studied in depth are North America, Europe, Asia Pacific, Middle East & Africa and Latin America. This helps gain better idea about the spread of this particular market in respective regions.

The report takes a close and analytical look at the various companies that strive for a higher share of the Speech and Voice Recognition Market. Data on the leading and fastest-growing segments along with what drives them has been given.

This report implements a balanced mix of primary and secondary research methodologies for its analysis. The market is segmented on the basis of key criteria.

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Major Drivers: Global Speech and Voice Recognition Market

INCREASING DEMAND FOR VOICE AUTHENTICATION IN MOBILE APPLICATIONS

The network connectivity and computing power in automobiles, mobile phones, and other mobile devices has led to an eruption of applications and services for consumers. Applications such as Maps, navigation, the arrival of social networking sites such as Twitter and Facebook, email, web search, games, and music and video content posed many user interface challenges to designers. For instance, during the travel time the users are not always able to keep their eyes and hands on the device at certain places and situations such as, working out at the health club, and while driving a car. To overcome these challenges, the developers have then decided to improve the user’s experience, by designing predictive text, touchscreens, and speech technology. A speech technology such as speech recognition has been in use for mobile applications.

INCREASED DEMAND FOR VOICE AND SPEECH-BASED BIOMETRIC SYSTEMS

The speech-based biometric are progressively increasing in society. Due to arrival of speech-based biometric systems the user need not to remember password or a PIN. A voice-based biometric systems converts each spoken word into numerous dominant frequencies. The wave that is formed by a user’s speech produces an electrical signal output from the microphone. The application of this technology is mainly for security use in banking and trading, e-Commerce, insurance use, health use, network security. The companies that are developing voice and speech based biometric systems are Microsoft that deals in application namely Azure for speaker recognition, Uniphore, Nuance Communication, VoiceVault, Sensory and among others. Voice biometric technology for authentication purpose is considered as convenient and accurate. The rapid development and increased usage of automated applications for finances and E-commerce has increased the concern over reliability, high-security, and non-intrusive methods for personal authentication. Speaker recognition technology is one of the technologies included in analysing and modelling the voiceprints is now playing a vital role in the society

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Market Segmentation: Global Speech and Voice Recognition Market

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.

Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

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.

The voice recognition segment is further sub-segmented into

• speaker identification, and
• speaker verification

The speech recognition segment is further sub-segmented into

• automatic speech recognition, and
• text to speech

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.

The report offers advice from key industry experts on how these challenges can be overcome. A major chunk of the report talks about the technologies that are and will influence the growth of the Speech and Voice Recognition Market. Forecasts for these technology sectors are presented in the report. Companies that offers the latest integrated technologies at an affordable cost are expected to thrive in the market.

The dominating Factors in the market along with the upcoming technologies that are expected to revolutionize the market are explained in the report.

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