Speech and Voice Recognition Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=202401714
Speech Recognition technology shows significant increase in speech and voice recognition market during the forecast period.
Growing demand for speech-enabled consumer electronics devices including smart home devices, mobile devices, and wearable devices is expected to result in rapid growth of the speech recognition market during the forecast period. The automatic speech recognition (ASR) segment is expected to record the highest CAGR in the forecast period. The growing accuracy of ASR technology offered by Chinese vendors, such as Baidu (China) and iFLYTEK (China) is expected to benefit the entire value chain for the automatic speech recognition market in Asia Pacific during the forecast period. The growing need for local language-based speech recognition software in South Asian countries is expected to provide ample growth opportunities for the ASR market in APAC during the forecast period.
On-premises/embedded deployment mode to grow significantly during the forecast period
The demand for on-premises/embedded infrastructure is expected to increase in the forecast period. Americas will lead the market for the on-premises/embedded segment as a result of more companies demanding on-premises/embedded deployment. The increasing demand for on-premises/embedded infrastructure is also leading to an increase in the number of providers in the Americas, thereby improving the overall market growth.
Consumer vertical to have the largest market share during the forecast period
In 2020, the consumer vertical accounted for the largest size of the speech and voice recognition market and is expected to hold a dominant position throughout the forecast period. The introduction of voice based smart devices in the consumer sector has led to the launch of many innovative products in the market. The continuous decline in the cost of voice and speech devices, software developments, and relevant content developments are also driving the market for speech and voice recognition. The increasing demand for intelligent virtual assistant smart speakers with voice capabilities is expected to be a prominent driver for the speech and voice recognition market for the consumer vertical during the forecast period.
Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=202401714
APAC to grow with highest CAGR for speech and voice recognition market during the forecast period
The market in APAC is expected to grow during the forecast period. The growing focus on artificial intelligence (AI) in industries and enterprises is also expected to contribute toward the growth of the voice recognition market in Asia Pacific during the forecast period. Increasing digitalization and government policies favoring digitalization and technological innovations are also expected to drive the growth of market in APAC region.
Key Market Players
Apple (US), Microsoft (US), IBM (US), Alphabet (US), Amazon (US), Sensory (US), CANTAB Research (UK), Baidu (China), iFLYTEK (China) and SESTEK (Turkey) are among the key players operating in the speech and voice recognition market.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
This release was published on openPR.
Permanent link to this press release:
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 Speech and Voice Recognition Market Set to Grow at the Fastest Rate- Time to Grow your Revenue here
News-ID: 2534215 • Views: 234
More Releases from MarketsandMarkets
Bearing Isolators Market | Key players operating in the market include Inpro/Sea …
The report "Bearing Isolators Market by Material Type (Metallic and Non-Metallic), End-use Industry (Oil & Gas, Chemical Processing, Mining, Paper & Pulp, Metal Processing, and Manufacturing & Processing), and Region - Global Forecast to 2022", The bearing isolators market is estimated to be USD 1.26 Billion in 2017 and is projected to reach USD 1.67 Billion by 2022, at a CAGR of 5.7% from 2017 to 2022. Rising awareness about
Modular Flooring Market worth $72.5 billion by 2026 | Key players Mohawk Industr …
According to recent market research "Modular Flooring Market by Product Type (Flexible LVT, Rigid LVT, Carpet Tile, Polyolefin, Rubber, Ceramic), End use (Workplace, Education, Healthcare, Retail, Household) & Region (North America, APAC, MEA, Europe, RoW) - Global Forecast to 2026", The global modular flooring market is estimated to be USD 54.6 billion in 2021 and is projected to reach USD 72.5 billion by 2026, at a CAGR of 5.8% from
Electrical Digital Twin Market Projected to Reach $1.3 billion by 2026 | General …
The global Electrical Digital Twin Market size will grow to USD 1.3 billion by 2026 from USD 0.8 billion in 2021, at a CAGR of 12.2% during the forecast period. The integration of variable renewable energy with the grid and increasing decentralization of distributed energy resources using electrical digital twins are the driving factors for the electrical digital twin market, globally. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=192874390 Utilities and grid infrastructure operators across
Optical Communication and Networking Equipment Market Growth, Analysis, Latest T …
The global optical communication and networking equipment market was estimated at USD 24.2billion in 2022 and is projected to reach USD 36.6 billion by 2027, growing at a CAGR of 8.6% from 2022 to 2027. Growing number of data centers are the factors driving the optical communication and networking equipment market growth. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227693036 The optical transceiver segment accounted for the largest share of ~32% of the optical communication
More Releases for Recognition
Global Facial Recognition Market
Global Facial Recognition Market – Global Industry Analysis and Forecast (2017-2026) _ by Component, by Technology, by Use Case, by End-Use, and by Geography Global Facial Recognition Market is expected to grow from US$ 3.32 Bn in 2017 to US$ 12.20 Bn by 2026, at a CAGR of 13.9% between 2017 and 2026. (Detailed analysis of the market CAGR is provided in the report) The facial recognition system is bio-metric technology or
Universal $12 Bn Healthcare Biometrics Market | By Technology | Face Recognition …
A Research Study Titled, “Healthcare Biometrics Market by Technology, Application, and End User - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the healthcare biometrics market is projected to be around $12 billion by 2025. Healthcare Biometrics - Competitive Analysis: Technological collaborations and mergers will drive the market during the forecast period. For instance, in September 2015, Qualcomm Inc. announced the collaboration between Qualcomm Life, Inc.
Voice Recognition Market - Competition Intelligence
The Voice Recognition Market Competition Intelligence report provide an in-depth insight pertaining to the latest strategic developments in this arena. The report offers comprehensive coverage on the recent initiatives by the top market participants including Nuance Communications, Inc, Microsoft Corporation, Google Inc, Hoya Corporation (Readspeaker Holding B.V.), Apple Inc., Amazon.com, Inc., IBM Corporation, Raytheon Company, VoiceVault, Inc. and Advanced Voice Recognition Systems, Inc. among others. The study facilitates in understanding
Global Iris Recognition Industry
Global Iris Recognition Industry Latest Report on Iris Recognition Market Global Analysis & 2022 Forecast Research Study Report Description The Iris Recognition market research report analyzes global adoption trends, future growth potentials, key drivers, competitive outlook, restraints, opportunities, key challenges, market ecosystem, and value chain analysis. This report presents a detailed analysis, market sizing, and forecasting for the emerging subsegments within the Iris Recognition market. The report is thoroughly segmented by product type, application,
Facial Recognition Technology Market Including Vein Recognition, Fingerprint Rec …
The main service areas in the financial services industry cover mainly financial transactions and financial management. It requires strict security for the transactions conducted by both service providers and their clients. Hence, there is an evident demand for stricter identification verification. In recent years, more and more financial services providers have incorporated biometric authentication technologies into their financial services, including vein recognition, fingerprint recognition, iris recognition, and facial recognition. Particularly,
Biometric ATM Market In United State: By Product Type - Fingerprint Recognition, …
Researchmoz added Most up-to-date research on "Biometric ATM Market In United State: By Product Type - Fingerprint Recognition, Iris Recognition, Palm Recognition, Vein Recognition & Face Recognition" to its huge collection of research reports. In this report, the United States Biometric ATM market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between