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Speech and Voice Recognition Market Is Booming Globally with Nuance Communications, Inc., Microsoft, IFLYTEK CO. LTD., HOYA Corporation, Raytheon, Advanced Voice Recognition Systems, Inc., Pareteum, Sensory, IncVoiceVault

12-13-2019 08:11 AM CET | IT, New Media & Software

Press release from: Research for Markets

Speech and Voice Recognition Market Is Booming Globally

Speech and Voice Recognition Market Is Booming Globally

Speech and Voice Recognition Market report is a comprehensive study in the Speech and Voice Recognition Market it tells about what the market status in the forecast period of 2018-2025. The report provides with CAGR value fluctuation during the forecast period of 2018-2025 for the Speech and Voice Recognition Market . The base year for calculation in the report is taken as 2017 the historic year is 2016 which will tell you how the Speech and Voice Recognition Market is going to perform in the forecast years by informing you what the market definition, classifications, applications, and engagements are.

Global speech and voice recognition 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 major factors driving the growth of this market are the effective integration due to increased demand for voice and speech-based biometric systems, increasing demand for voice authentication in mobile applications and use of artificial intelligence (AI) on the accuracy of speech and voice recognition. On the other hand, disadvantages related to speech and voice recognition systems may hinder the growth of the market.

The key market players for Global Speech and Voice RecognitionMarket are listed below: Nuance Communications, Inc., Microsoft, IFLYTEK CO. LTD., HOYA Corporation, Raytheon, Advanced Voice Recognition Systems, Inc., Pareteum, Sensory, IncVoiceVault Inc., LumenVox, LLC., Acapela Group SA, VocalZoom, BioTrust, Uniphore, Voicebox Technologies Corporation, Cantab Research Limited others

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The global speech and voice recognition market is segmented on the basis of technology, product type, deployment, industry and geography. The report provides data for 2016 to 2025, 2017 being the current year while 2018 to 2025 is the forecast period for the report.

The global speech and voice recognition market is segmented based on technology into two notable segments; artificial intelligence based software and traditional software. The Speech and voice recognition market is dominated by artificial intelligence based software with 70.0% market share in 2017 and is expected to grow at the highest CAGR of 28.1% in the forecast period.

The global 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 84.5% market share in 2017 and is expected to grow at the highest CAGR of 26.9% in the forecast period.

The global speech and voice recognition market is segmented based on deployment into two notable segments; artificial intelligence based cloud based and on premise.

The global speech and voice recognition market is segmented based on industry into eight notable segments system; entertainment and mobile apps, banking, healthcare, automobiles, analytics, security, education and academics and others.
Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa

Based on geography, the Global Speech and Voice Recognition market is segmented into geographical regions, such as,

• North- America

• South America

• Europe

• Asia-Pacific

• Middle East and Africa

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Executive Summary: Speech and Voice Recognition Market

Chapter 1 About the Speech and Voice Recognition Industry

Chapter 2 World Market Competition Landscape

Chapter 3 World Speech and Voice Recognition Market share

Chapter 4 Supply Chain Analysis

Chapter 5 Company Profiles

Chapter 6 Globalisation & Trade

Chapter 7 Distributors and Customers

Chapter 8 Import, Export, Consumption and Consumption Value by Major Countries

Chapter 9 World Speech and Voice Recognition Market Forecast through 2028
Chapter 10 Key success factors and Market Overview

Tables and figures

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Reasons To Buy This Report:
1. To get a comprehensive overview of the Speech and Voice Recognition market.

2. To gain information about the top players in this industry, their product portfolios, and their key strategies.

3. To gain insights about the major regional insights in which the Speech and Voice Recognition is flourishing.

4. Recent industry trends and developments

5. Potential and niche segments/regions exhibiting promising growth

Note: If you have any special requirements, please let us know and we will offer you the report as you want.

Contact:
Mr. A Naidu
Research for Markets
Tel: +44 8000-4182-37 (UK)
Email: alan.naidu@researchformarkets.com

About Research for Markets:
Research for Markets indulges in detailed and diligent research on different markets, trends and emerging opportunities in the successive direction to cater to your business needs. We have established the pillars of our flourishing institute on the grounds of Credibility and Reliability. RFM delve into the markets across Asia Pacific, North America, South America, Europe, Middle East and Africa.

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