Press release
Speech Technology Market Report 2024: Strategies And Recent Developments | Amazon.com Inc., Apple Inc., Alphabet, Microsoft Corporation, International Business Machines Corporation
Speech Technology Market Characteristics
The Business Research Company offers in-depth market insights through Speech Technology Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The speech technology market size has grown exponentially in recent years. It will grow from $13.22 billion in 2023 to $16.71 billion in 2024 at a compound annual growth rate (CAGR) of 26.3%. The growth in the historic period can be attributed to advancements in natural language processing (nlp), rise in voice-activated devices, accessibility and inclusion, integration in customer service, multilingual support.
The speech technology market size is expected to see exponential growth in the next few years. It will grow to $41.95 billion in 2028 at a compound annual growth rate (CAGR) of 25.9%. The growth in the forecast period can be attributed to conversational ai evolution, healthcare applications growth, cross-industry integration, emotion recognition capabilities, voice biometrics for security. Major trends in the forecast period include emotion recognition, multilingual and cross-language processing, voice biometrics for security, voice-enabled smart devices, conversational ai and chatbots.
Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=13738&type=smp
Market Segmentation:
The speech technology market covered in this report is segmented -
1) By Type: Artificial Intelligence, Non-artificial Intelligence
2) By Deployment Mode: On Cloud, On-Premises Or Embedded
3) By Application: Automotive, Consumer, Government, Enterprise, Healthcare, Banking, Financial Services, and Insurance (BFSI)
Major Driver - Rising Adoption Of Voice Assistants Fuels Growth In Speech Technology Market
The increased use of voice assistants is expected to propel the growth of the speech technology market going forward. A voice assistant is a digital tool or assistant that recognizes voice commands, processes language and synthesizes voice output. Voice assistants are a key component of speech technology as they enable hands-free control of devices and facilitate natural language interactions, enhancing user convenience and accessibility across a variety of applications. For instance, in December 2021, according to ComScore, a US-based media company, 48% of internet users owned at least one smart speaker, which is 11% higher than the 37% of users in 2020. Therefore, the increased use of voice assistants is driving the growth of the speech technology market.
Competitive Landscape:
Major companies operating in the speech technology market report are Amazon.com Inc., Apple Inc., Alphabet, Microsoft Corporation, International Business Machines Corporation, Baidu Inc., iFLYTEK, Nuance, Verbit, Uniphore, Lilt, Speechmatics, SoundHound, Acapela Group, SESTEK, The Cobalt Co., Sensory Inc., Atexto, Aigo.ai, Speak2web, Voiceitt, Syntiant, Speechly, Symbl.ai, Cantab Research, Rev
Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/speech-technology-global-market-report
Top Trend - Advancements In Automatic Speech Recognition (ASR) Technology
Major companies operating in the speech technology market are increasing their focus on developing technologically advanced solutions, such as advanced automatic speech recognition (ASR) engines, to gain a competitive edge in the market. Automatic Speech Recognition (ASR) engines, also known as speech recognition engines, are technology components that convert spoken language into written text. For instance, in August 2021, LumenVox, a US-based software company, launched its latest next-generation ASR engine with transcription, which is powered by artificial intelligence (AI) and deep machine learning (ML). This new ASR engine provides high accuracy and intelligence to capture, recognize, and respond to each customer's intention. The ASR engine by LumenVox offers high availability and extremely accurate transcription with minimal latency
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Speech Technology Market Characteristics
3. Speech Technology Market Trends And Strategies
4. Speech Technology Market - Macro Economic Scenario
5. Speech Technology Market Size And Growth
…..
27. Speech Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Latest Trending Press Releases: https://www.thebusinessresearchcompany.com/press-release.aspx
About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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 Speech Technology Market Report 2024: Strategies And Recent Developments | Amazon.com Inc., Apple Inc., Alphabet, Microsoft Corporation, International Business Machines Corporation here
News-ID: 3433866 • Views: …
More Releases from The Business research company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Speech
Speech Therapy Services Market May See Big Move | Major Giants Smart Speech Ther …
HTF MI recently introduced Global Speech Therapy Services Market study with 143+ pages in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status (2024-2032). The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence. Some key players from the complete study are Speech Therapy Centers of Excellence, Genesis Rehab Services, Benchmark Therapies, Reliant Rehabilitation,…
Speech Therapy Market SWOT Analysis by Key Players- CHEO, Smart Speech Therapy, …
The latest study released on the Global Speech Therapy Market by HTF MI evaluates market size, trend, and forecast to 2030. The Speech Therapy market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Key Players in…
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 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…
