Press release
Speech Recognition Market 2017: Nuance, Microsoft, Agnitio SL, VoiceVault, VoiceBox Technologies, Google, LumenVox, Raytheon BBN Technologies, Advanced Voice Recognition Systems, Sensory
The global market for Speech Recognition is majorly driven by factors such as increasing security concerns of managing consumer devices and growing security application in internet-connected and digital devices.Market Highlights:
Global Speech Recognition Market is expected to grow with market size of US ~$13 billion by 2022. Growing mobile banking application and adoption of mobile- and cloud-based computer technology is driving the Speech Recognition Market. The growing adoption of automated and smart applications in consumer electronics and healthcare industries act as the major contributor for the growth of the Speech Recognition Market during the forecasted period.
Globally Speech Recognition market is growing with CAGR of ~20% and expected to reach market size of ~$13 billion by the end of forecasted period.
Speech Recognition Market Players:
• Nuance Communications, Inc. (U.S)
• Microsoft Corporation (U.S)
• Agnitio SL (Spain)
• VoiceVault (U.S.)
• VoiceBox Technologies Corp. (U.S)
• Google Inc. (U.S)
• LumenVox LLC.(U.S)
• Raytheon BBN Technologies (U.S)
• Advanced Voice Recognition Systems (U.S.)
• Sensory, Inc. (U.S)
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Segments:
Global Speech Recognition market has been segmented on the basis of Types, Technology and Verticals. The Speech Recognition Types has been identified as- Speaker Dependent and Speaker Independent. Technology segment consists of AI based and Non-AI based whereas the Verticals have been identified as Military, Automotive, Healthcare, Consumer, Finance, Media & Entertainment, and Government among others.
Regional Analysis:
North America is dominating the market of Speech Recognition due to the presence of the global players in this region as well as growing security application in digital and internet-connected devices. North America is expected to dominate the market throughout the forecast period whereas Asia-Pacific has emerged as fastest growing market and expected to be the second biggest market by the end of forecast period. Currently Europe holds second position in the market but expected to be dominated market.
Market Research Analysis:
Market Research Future has predicted that this market will be dominated by North America throughout the forecast period. Europe stands second biggest market in the year 2016 but is expected to be dominated by Asia-Pacific by the end of forecast period. Also, Asia-Pacific has emerged as fastest growing market for the Speech Recognition owing to factors such as growing economy of India and China and also due to the strong presence of manufacturing industry in the region.
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Intended Audience:
- Speech Recognition System Industries
- Technology investors
- Scientists, Researchers
- Government as well as Independent Regulatory Authorities
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Email: sales@marketresearchfuture.com
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