Press release
Strategic Forecast for the Mobile Speech Recognition Software Industry: Market Outlook 2025-2034
Mobile Speech Recognition Software Market Size
Mobile Speech Recognition Software Market Size Growth Forecast: What to Expect by 2025?
There's been a remarkable surge in the size of the mobile speech recognition software market in the last few years. The market is projected to escalate from $5.29 billion in 2024 to around $6.56 billion in 2025 with a compound annual growth rate (CAGR) of 24.0%. This growth during the historical phase can be traced back to the progression in natural language processing (nlp), the widespread use of mobile devices, integration with virtual assistants, increased need for hands-free operations, as well as bettered connectivity and network speeds.
How Will the Mobile Speech Recognition Software Market Size Evolve and Grow by 2029?
Expectations are high for the mobile speech recognition software market to go through an exponential increase in its size in the upcoming years. Forecasts show the market expanding to reach $15.29 billion by 2029, boasting a compound annual growth rate (CAGR) of 23.6%. The projected growth within this period could be due to the integration with augmented reality (AR) and virtual reality (VR), the emphasis on multimodal interactions, the advent of edge computing in mobile devices, improved security and privacy protocols, and increasing applications in the healthcare sector and industry. Key trends anticipated during this forecast period includes integration with 5G technology, support for multiple languages in speech recognition, usage of voice biometrics for authentication, applications in healthcare and accessibility, and context-aware speech recognition.
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What Drivers Are Propelling the Growth of Mobile Speech Recognition Software Market Forward?
The advancement and spread of multifunctional smartphones is anticipated to promote the expansion of the mobile speech recognition software market. A smartphone, which merges the use of cellular telephony and computing, has been revolutionized by mobile speech recognition software, allowing for ease of use and increased accessibility through voice input and hands-free operation. For example, Cybercrew, a UK company that designs and delivers business cybersecurity solutions, reported in February 2024 that smartphone penetration reached 91.43% in 2021, and is projected to increase to 93.8% by 2026. Consequently, the widespread use of advanced smartphones is pushing the growth of the mobile speech recognition software market.
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Which Emerging Trends Are Transforming the Mobile Speech Recognition Software Market in 2025?
Key players in the mobile speech recognition software market, such as Voiceitt, are focusing on developing AI-powered speech recognition software to improve their market profitability. AI-powered speech recognition software are programs or systems that use artificial intelligence to interpret spoken language. For instance, in August 2023, Israel-based Voiceitt rolled out Voiceitt 2, a web application that notably improves the communication experience for those with speech impairments. The application comes with an intuitive onboarding process which allows users to speak freely and make sure their atypical speech is translated into standard speech, increasing comprehension among educators and peers. Moreover, Voiceitt 2 provides conversation transcription, note dictation and easy integration with well-known AI assistants like ChatGPT. Its functionalities are further enhanced with Webex integration, providing inclusive transcription and captioning for video meetings, thereby forming a comprehensive solution that greatly enhances communication in a range of scenarios.
What Are the Key Segments in the Mobile Speech Recognition Software Market?
The mobile speech recognition software market covered in this report is segmented -
1) By Type: Isolated Word Recognition, Keyword Spotting, Continuous Speech Recognition
2) By Technology: Artificial Intelligence Based, Non-Artificial Intelligence Based
3) By Vertical: Healthcare, Military, Automotive, Retail, Government, Education, Banking, Financial Services, And Insurance (BFSI), Other Verticals
Subsegments:
1) By Isolated Word Recognition: Simple Command Recognition, Voice-Activated Commands, Dictation Of Single Words
2) By Keyword Spotting: Wake Word Detection, Contextual Keyword Recognition, Task-Specific Keyword Recognition
3) By Continuous Speech Recognition: Natural Language Processing (NLP) Integration, Voice-To-Text Transcription, Conversational AI Systems
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Who Are the Key Players Shaping the Mobile Speech Recognition Software Market's Competitive Landscape?
Major companies operating in the mobile speech recognition software market report are Amazon Inc., Apple Inc., Alphabet Inc., Microsoft Corporation, AT&T Inc., IBM Corp., Cisco Systems Inc., Baidu Inc., Raytheon BBN Technologies, OpenText Corporation, iFLYTEK Co. Ltd., Dragon Systems, ABBYY, VoiceVault Inc., Pareteum Corporation, Speechmatics, Acapela Group, VoiceBox Technologies Corporation, ReadSpeaker Holding B.V., CereProc Ltd., Uniphore, Sensory Inc., LumenVox LLC, Advanced Voice Recognition Systems Inc., LumenVox LLC, Voci Technologies, RAYVN AS, Yobe Inc
What Geographic Markets Are Powering Growth in the Mobile Speech Recognition Software Market?
North America was the largest region in the mobile speech recognition software market in 2024. The regions covered in the mobile speech recognition software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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