Press release
Voice and Speech Recognition Market to Boost Market Growth Expected to Grow at a CAGR of 17.2% from 2019 to Reach $26.8 Billion by 2025 | Global Opportunity Analysis
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5038
Furthermore, consistent proliferation of advanced technologies, such as artificial intelligence and machine learning, speedy expansion of smart devices market, and increasing willingness to employ voice assistants at websites or physical shops are also encouraging consumers to adopt voice-enabled devices. However, although the adoption of voice-enabled devices is one a rise, there is still a certain level of reluctance towards adopting new technologies, mainly due to high cost of smart devices, low awareness for different functionalities of voice and speech-enabled devices, and lack of accuracy of voice-enabled devices in recognizing regional accents and dialects, which may restrain the growth of the voice and speech recognition market to some extent.
Market Segmentation
The global voice and speech recognition market is segmented by function type (speech recognition, and voice recognition), end-user (automotive, healthcare, BFSI, education, hospitality, government and public services, manufacturing/enterprise, retail and e-commerce, legal, consumer electronics, and military and defense), and technology type (artificial intelligence, and non-artificial intelligence).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/speech-and-voice-recognition-market-5038/
Speech recognition technology is expected to command a larger share of the overall voice and speech recognition market
Based on function, the overall voice and speech recognition market is segmented into voice recognition and speech recognition technologies. Voice recognition platforms offer the ability to decode the humanoid voice; whereas, the speech recognition has the ability to recognize verbal words or phrases and then convert them into a machine-readable format. Speech recognition technology commanded the largest share of the overall voice and speech recognition market in 2019, owing to increasing demand for voice-enabled devices along with growing customer confidence in smart technologies, increasing usage of voice assistants particularly for purchasing products online, and consistent proliferation of advanced technologies.
The automotive sector is expected to hold the largest share of the speech and voice recognition market throughout the forecast period
On the basis of end-user, the overall voice and speech recognition market is segmented into automotive, healthcare, BFSI, education, hospitality, government & public services, manufacturing/enterprise, retail & e-commerce, legal, consumer electronics, and military and defense. The automotive sector commanded the largest share of the overall speech and voice recognition market in 2019, owing to continuous developments in the automobile industry as well as the rising integration of voice-enabled in-car infotainment systems such as voice-driven navigation and entertainment systems. On the other hand, voice and speech recognition market for the healthcare industry is slated to grow at the fastest CAGR during the forecast period, owing to easy integration of this technology with the various healthcare devices & platforms, rising demand of voice-enabled equipment in healthcare sector, and increasing investment in research and development for exploring and expanding voice-enabled healthcare applications.
Get key industry insights spread across 175 pages with 120 market data tables & 27 figures & charts from the report:
https://www.meticulousresearch.com/buy_now.php?pformat=339&vformat=1003
Asia-Pacific region is likely to continue providing immense growth opportunities during the forecast period
The high growth rate for speech and voice recognition market in this region is attributed to the rapidly developing economies, presence of young population coupled with the rising disposable income, rising demand for high-level security systems, and increasing availability of speech and voice-enabled devices in this region. The explosion of speech recognition technologies primarily in the healthcare, autonomous and connected cars, and consumer electronics applications is also expected to support the growth of the voice and speech recognition technologies market in the APAC region over the coming years.
On the basis of technology, Artificial Intelligence (AI) segment accounted for the majority share of the global speech and voice recognition market in 2019. The large share of this segment is attributed to the increasing adoption of AI-powered voice-enabled applications in several industries such as automotive, education, consumer electronics, and retail & e-commerce among others. In addition, increasing integration of AI-based voice-enabled devices particularly with the BFSI and healthcare system is also expected to further drive this technology at the fastest CAGR over the coming years.
Have Any Query? Ask Our Experts: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5038
Industry dynamics and key market players
The global voice and speech recognition market is fragmented in nature and is characterized by the presence of several low, mid, and high-level companies. Some of the leading companies operating in the global voice and speech recognition market are from the core technology background. These include Nuance Communications, Inc. (U.S.), Google LLC (U.S.), Apple Inc. (U.S.)., Amazon (U.S.), iFlytek (China), LumenVox LLC (U.S.), Sensory (U.S.), and Sestek (Turkey) among others. These companies are leading the market owing to their strong brand recognition, diverse product basket, strong distribution and sales network, and strong organic and inorganic growth strategies. The other key players operating in the global voice and speech recognition market are Microsoft (U.S.), IBM (U.S.), Baidu (China), Dolbey (OH), Raytheon (U.S.), Harman International (U.S.), Speechmatics (U.K.), EML European Media Laboratory GmbH (Germany), Toshiba (Japan), NTT Docomo Inc. (Japan), Yahoo Japan Corp. (Japan), AI Inc. (Japan), Alibaba Group (China), and Voiceware (Korea), among many other local and regional players.
?Here are the top Market companies in the world::
https://meticulousblog.org/top-10-companies-in-speech-and-voice-recognition-market/
Market by Geography:
North America
-U.S.
-Canada
Europe
-Germany
-France
-U.K.
-Italy
-Spain
-Rest of the Europe
Asia Pacific
-India
-China
-Japan
-Rest of Asia Pacific
Latin America
Middle East and Africa
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5038
Related Reports:
1. Automotive Artificial Intelligence Market by Offering (Hardware, Software), Technology (Machine Learning, Deep Learning, Computer Vision, Context Awareness, Natural Language Processing), Process (Signal Recognition, Image Recognition, Voice Recognition, Data Mining), Drive (Autonomous Drive, Semi-autonomous Drive), and Region - Global Forecast to 2025
https://www.meticulousresearch.com/product/automotive-artificial-intelligence-market-4996/
Contact Us:
Meticulous Research
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Connect with us on Twitter- https://twitter.com/MeticulousR123
About Meticulous Research
Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicated market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Meticulous Research produces global reports and custom studies for North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa regions. These reports are used by our clients for marketing and strategic planning in various sectors.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Voice and Speech Recognition Market to Boost Market Growth Expected to Grow at a CAGR of 17.2% from 2019 to Reach $26.8 Billion by 2025 | Global Opportunity Analysis here
News-ID: 2013508 • Views: …
More Releases from Meticulous Research
The Cloud Managed Services Market is projected to reach $247.5 billion by 2030
The Cloud Managed Services Market is projected to reach $247.5 billion by 2030, growing at a robust CAGR of 14.2% from 2023 to 2030. This growth is fueled by advancements in cloud technologies, increasing demand in sectors like BFSI and healthcare, and a rising focus on customized and managed cloud services. However, challenges such as high costs, security risks, compliance issues, and limited flexibility may impact market growth.
Download free…
Language Learning Market Projected to Reach $124.6 Billion by 2031
Meticulous Research® recently published a report titled, "Language Learning Market by Age Group (40 years), Language (English, Mandarin, Spanish, French, German, Italian, Japanese), End User (B2C, B2B), and Geography - Global Forecast to 2031."
Download sample report here: https://www.meticulousresearch.com/download-sample-report/cp_id=5561
According to the report, the language learning market is anticipated to reach $124.6 billion by 2031, growing at a CAGR of 10.7% from 2024 to 2031. Key factors fueling this growth…
Oncology Information Systems Market to be Worth $4.45 Billion by 2030: Analytica …
Introduction:
Meticulous Research® recently released a comprehensive report titled "Oncology Information Systems Market By Offering (Software, Services) Application (Medical, Surgical, Radiology Oncology) End User (Hospital, Diagnostic Imaging Center, Cancer Care Center) - Global Forecast to 2030." The report reveals that the oncology information systems (OIS) market is projected to reach approximately $4.45 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.4% from 2024. This growth is…
IoT Sensors Market to be Worth $56.8 Billion by 2030
Meticulous Research®-a leading global market research company, published a research report titled, 'IoT Sensors Market by Offering (Image Sensors, RFID Sensors, Biosensors, Humidity Sensors, Optical Sensors, Others), Technology (Wired, Wireless), Sector (Manufacturing, Retail, Consumer Electronics, Others), & Geography - Global Forecast to 2030.'
According to this latest publication from Meticulous Research®, in terms of value, the IoT sensors market is projected to reach $56.8 billion by 2030, at a CAGR of…
More Releases for Speech
Speech Therapy Services Market to See Huge Growth by 2026 | Speech Pathways, Sma …
COVID-19 Outbreak-Global Speech Therapy Services Industry Market Report-Development Trends, Threats, Opportunities and Competitive Landscape in 2020 is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the COVID-19 Outbreak-Global Speech Therapy Services Market. Some of the key players…
Speech Therapy Services Market 2020 Research and New Innovations in Keyplayers …
An extensive overview of the Speech Therapy Services Market is recently added by SMI to its enormous database. The report offers a detailed analysis of the latest industry developments, technologies, and trending factors in the market that are influencing the market growth. Also, The industry report has been aggregated by way of amassing informative data of a number of dynamics such as market drivers, restraints, and opportunities.
The Speech Therapy Services…
Speech Therapy Services Market 2019-Emerging Growth Opportunity, Share, Size, Re …
The “Speech Therapy Services Market (2019-2025) Global Industry Analysis” research publication offers readers with a comprehensive knowledge of the Speech Therapy Services market scenario in coming years. This report guides through various segments of the global Speech Therapy Services market with market size, share and forecast 2025.The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and…
Speech Therapy Services Market Analysis by Top Key Players Smart Speech Therapy, …
Speech therapy is an intervention service that focuses on improving a child's speech and abilities to understand and express language, including nonverbal language. Speech therapists, or speech and language pathologists (SLPs), are the professionals who provide these services.
Get Sample Copy of this Report @ https://www.bigmarketresearch.com/request-sample/2889133?utm_source=RK&utm_medium=OPR
The Speech Therapy Services Market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported…
Speech Therapy Services Market 2018-2025: Smart Speech Therapy, Therapy Solution …
Speech Therapy Services Industry 2018 Global Market research report provides key analysis on the market status of the Speech Therapy Services providers with market size, growth, share, trends as well as industry cost structure. This report discovers the key drivers and challenges affecting the market.
Get Sample Copy of this Report – https://www.orianresearch.com/request-sample/622819
Global Speech Therapy Services Industry 2018 Market Research Report is spread across 117 pages and…
Speech Therapy Services Market Trends, Growth, Demand, Top Leader: Smart Speech …
The report on the “Speech Therapy Services Market “offers elaborated knowledge on the Speech Therapy Services market. Parts like dominating firms, classification, size, share, growth, business atmosphere, SWOT analysis, and most effectual trends within the business area unit comprised during this analysis study. Additionally to the current, the report sports charts, numbers, and tables that provide a transparent viewpoint of the Speech Therapy Services market.
Get Sample Copy @ https://www.orianresearch.com/request-sample/622819
Global Speech…
