Speech and Voice Recognition Market to 2024 – Growing Steady at 19.18% CAGR and Projected to Reach US$ 21.5 Billion

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The Speech and Voice Recognition Market is expected to grow from US$ 7.5 Billion in 2018 to US$ 21.5 Billion by 2024, at a CAGR of 19.18%.The high growth potential in healthcare application, growing demand for voice authentication in mobile banking application, and rapid proliferation of multifunctional devices or smart speakers are a few major factors driving the growth of speech and voice recognition market.

Top Key Players in the “Speech and Voice Recognition Market” include are
• Nuance (US)
• Microsoft (US)
• Alphabet (US)
• IBM (US)
• Amazon (US)
• Sensory (US)
• Cantab Research (UK)
• iflytek (China)
• Baidu (China)
• Raytheon BBN Technologies (US)

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The large consumer electronics industry in China and India offers significant expansion opportunities for the speech recognition market in APAC during the forecast period. Moreover, the growing focus on productivity in developed countries of APAC such as Japan and Singapore is further expected to drive the speech and voice recognition market in the enterprise segment during the forecast period.

The Study Objectives of this report are:

• To forecast the market size, in terms of value, for various segments with respect to 4 main regions: Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW)

• To define, describe, and forecast the speech and voice recognition industry, in terms of value, segmented on the basis of delivery methods, technology, deployment mode, vertical, and geography

• To provide a detailed overview of the value chain of the ecosystem of speech and voice recognition market

• To analyze opportunities in the market for stakeholders by identifying high-growth segments of the speech and voice recognition market

• To strategically profile key players and comprehensively analyze their market positions in terms of ranking and core competencies2, along with detailing the competitive landscape for market leaders

• To analyze growth strategies such as product launches and developments, acquisitions, expansions, and agreements adopted by major players in the speech and voice recognition industry

#Complete report on Speech and Voice Recognition Market spread across 161 Pages, profiling 18 companies and supported with tables and figures. Buy Research at https://www.reportsnreports.com/purchase.aspx?name=590849 .

Reason to buy this report:
The report will help leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall speech and voice recognition market and its sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

Market size available for years : 2016–2024
Base year considered : 2017
Forecast period : 2018–2024
Segments covered : Delivery methods, Technology, Deployment Mode, Vertical, and Geography

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