Speech and Voice Recognition Market by Type (Speech and Voice Recognition), End User (Automotive, Healthcare, BFSI, Education, Legal), Technology (Artificial Intelligence and Non-Artificial Intelligence), and Geography - Global Forecast to 2025

  • Report ID:MRICT - 104339
  • Pages: 175
  • Mar 2020
  • Formats*: PDF
  • Category: Information & Communications Technology
  • Delivery: 2 to 4 Hours

1. Introduction
    1.1. Market Definition
    1.2. Market Ecosystem
    1.3. Currency and Limitations
          1.3.1. Currency
          1.3.2. Limitations
    1.4. Key Stakeholders

2. Research Methodology
    2.1. Secondary Research
    2.2. Primary Research

3. Executive Summary

4. Market Insights
    4.1. Introduction
    4.2. Market Dynamics
          4.2.1. Drivers
                   4.2.1.1. Surge in The Use of Voice Biometrics
                   4.2.1.2. Integration of Voice-Enabled In-Car Infotainment Systems
                   4.2.1.3. Proliferation of Voice-Enabled Devices
         4.2.2. Restraints
                   4.2.2.1. Lack of Accuracy in Regional Accents and Dialects Recognition
                   4.2.2.2. Lack of Awareness
         4.2.3. Opportunities
                   4.2.3.1. High Growth Potential for Ai-Enabled Voice Assistants in Healthcare Industry
                   4.2.3.2. Technological Advancements with Rising Acceptance of Connected Devices
         4.2.4. Challenges
                   4.2.4.1. Inability to Overpower Ambient Noise
         4.2.5. Trends
                   4.2.5.1. Growing Usage of Connected Device in Automotive and Home Automation

5. Speech and Voice Recognition Market, by Function Type
    5.1. Introduction
    5.2. Speech Recognition
          5.2.1. Automatic Speech Recognition
          5.2.2. Text-to-Speech
    5.3. Voice Recognition
          5.3.1. Speaker Identification
          5.3.2. Speaker Verification

6. Speech and Voice Recognition Market, by End User
    6.1. Introduction
    6.2. Automotive
    6.3. Healthcare
    6.4. BFSI
    6.5. Education
    6.6. Government & Public Services
    6.7. Manufacturing/Enterprise
    6.8. Retail & E-Commerce 
    6.9. Legal
    6.10. Consumer Electronics
    6.11. Military & Defense
    6.12. Others

7. Global Speech and Voice Recognition Market, by Technology
    7.1. Introduction
    7.2. Artificial Intelligence (AI)
    7.3. Non-Artificial Intelligence (Non-AI)

8. Global Speech and Voice Recognition Market, by Geography
    8.1. Introduction
    8.2. North America
           8.2.1. U.S.
           8.2.2. Canada
    8.3. Europe 
           8.3.1. Germany
           8.3.2. U.K.
           8.3.3. France
           8.3.4. Italy
           8.3.5. Spain
           8.3.6. Rest of Europe
    8.4. Asia Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
          8.4.4. Rest of Asia Pacific
    8.5. Latin America
    8.6. Middle East & Africa

9. Competitive Landscape
    9.1. Competitive Growth Strategies
           9.1.1. New Product Launches
           9.1.2. Mergers and Acquisitions
           9.1.3. Partnerships, Agreements, & Collaborations
           9.1.4. Expansions
    9.2. Market Share Analysis, by Key Players

10. Company Profiles
      10.1. Amazon.Com, Inc.
              10.1.1. Business Overview
              10.1.2. Financial Overview
              10.1.3. Product Portfolio
              10.1.4. Strategic Developments
      10.2. Apple, Inc.
              10.2.1. Business Overview
              10.2.2. Financial Overview
              10.2.3. Product Portfolio
              10.2.4. Strategic Developments
      10.3. Baidu
              10.3.1. Business Overview
              10.3.2. Financial Overview
              10.3.3. Product Portfolio
              10.3.4. Strategic Developments
      10.4. Google LLC
              10.4.1. Business Overview
              10.4.2. Financial Overview
              10.4.3. Product Portfolio
              10.4.4. Strategic Developments
      10.5. IBM Corporation
              10.5.1. Business Overview
              10.5.2. Financial Overview
              10.5.3. Product Portfolio
              10.5.4. Strategic Developments
      10.6. Iflytek
              10.6.1. Business Overview
              10.6.2. Financial Overview
              10.6.3. Product Portfolio
              10.6.4. Strategic Developments
      10.7. Microsoft Corporation
              10.7.1. Business Overview
              10.7.2. Financial Overview
              10.7.3. Product Portfolio
              10.7.4. Strategic Developments
      10.8. LumenVox LLC
              10.8.1. Business Overview
              10.8.2. Product Portfolio
              10.8.3. Strategic Developments
      10.9. Nuance Communications
              10.9.1. Business Overview
              10.9.2. Financial Overview
              10.9.3. Product Portfolio
              10.9.4. Strategic Developments
      10.10. Sensory, Inc.
                10.10.1. Business Overview
                10.10.2. Product Portfolio
                10.10.3. Strategic Developments
      10.11. Sestek
                10.11.1. Business Overview
                10.11.2. Product Portfolio
                10.11.3. Strategic Developments
      10.12. Dolbey Systems, Inc.
                10.12.1. Business Overview
                10.12.2. Product Portfolio
                10.12.3. Strategic Developments

11. Appendix
      11.1. Questionnaire
      11.2. Available Customization

List of Tables

Table 1 Global Speech and Voice Recognition Market Drivers: Impact Analysis (2018-2025)
Table 2 Global Speech and Voice Recognition Market Restraints: Impact Analysis (2018-2025)
Table 3 Global Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 4 Global Speech and Voice Recognition Market Size, by Country/Region, 2017-2025 ($ Million)
Table 5 Global Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 6 Global Speech Recognition Market Size, by Country/Region, 2017-2025 ($ Million)
Table 7 Global Automatic Speech Recognition Market Size, by Country/Region, 2017-2025 ($ Million)
Table 8 Global Text-to-Speech Market Size, by Country/Region, 2017-2025 ($ Million)
Table 9 Global Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 10 Global Voice Recognition Market Size, by Country/Region, 2017-2025 ($ Million)
Table 11 Global Speaker Identification Market Size, by Country/Region, 2017-2025 ($ Million)
Table 12 Global Speaker Verification Market Size, by Country/Region, 2017-2025 ($ Million)
Table 13 Global Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 14 Global Speech and Voice Recognition Market Size for Automotive, by Country/Region, 2017-2025 ($ Million)
Table 15 Global Speech and Voice Recognition Market Size for Healthcare, by Country/Region, 2017-2025 ($ Million)
Table 16 Global Speech and Voice Recognition Market Size for BFSI, by Country/Region, 2017-2025 ($ Million)
Table 17 Global Speech and Voice Recognition Market Size for Education, by Country/Region, 2017-2025 ($ Million)
Table 18 Global Speech and Voice Recognition Market Size for Government & Public Services, by Country/Region, 2017-2025 ($ Million)
Table 19 Global Speech and Voice Recognition Market Size for Manufacturing/Enterprise, by Country/Region, 2017-2025 ($ Million)
Table 20 Global Speech and Voice Recognition Market Size for Retail & E-Commerce, by Country/Region, 2017-2025 ($ Million)
Table 21 Global Speech and Voice Recognition Market Size for Legal, by Country/Region, 2017-2025 ($ Million)
Table 22 Global Speech and Voice Recognition Market Size for Consumer Electronics, by Country/Region, 2017-2025 ($ Million)
Table 23 Global Speech and Voice Recognition Market Size for Military & Defense, by Country/Region, 2017-2025 ($ Million)
Table 24 Global Speech and Voice Recognition Market Size for Other Industries, by Country/Region, 2017-2025 ($ Million)
Table 25 Global Speech and Voice Recognition Market Size, by Technology, 2017-2025 ($ Million)
Table 26 Global Artificial Intelligence Market Size, by Country/Region, 2017-2025 ($ Million)
Table 27 Global Non-Artificial Intelligence Country/Region Market Size, 2017-2025 ($ Million)
Table 28 Global Speech and Voice Recognition Market Size, by Country, 2017-2025 ($ Million)
Table 29 North America: Speech and Voice Recognition Market Size, by Country, 2017-2025 ($ Million)
Table 30 North America: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 31 North America: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 32 North America: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 33 North America: Speech and Voice Recognition Market Size, by End-User Type, 2017-2025 ($ Million)
Table 34 North America: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 35 U.S.: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 36 U.S.: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 37 U.S.: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 38 U.S.: Speech and Voice Recognition Market Size, by End-User Type, 2017-2025 ($ Million)
Table 39 U.S.: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 40 Canada: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 41 Canada: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 42 Canada: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 43 Canada: Speech and Voice Recognition Market Size, by End-User Type, 2017-2025 ($ Million)
Table 44 Canada: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 45 Europe: Speech and Voice Recognition Market Size, by Country, 2017-2025 ($ Million)
Table 46 Europe: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 47 Europe: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 48 Europe: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 49 Europe: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 50 Europe: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 51 Germany: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 52 Germany: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 53 Germany: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 54 Germany: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 55 Germany: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 56 U.K.: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 57 U.K.: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 58 U.K.: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 59 U.K.: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 60 U.K.: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 61 France: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 62 France: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 63 France: Voice Recognition Market Size, By Function Type, 2017-2025 ($ Million)
Table 64 France: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 65 France: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 66 Italy: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 67 Italy: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 68 Italy: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 69 Italy: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 70 Italy: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 71 Spain: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 72 Spain: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 73 Spain: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 74 Spain: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 75 Spain: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 76 Rest of Europe: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 77 Rest of Europe: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 78 Rest of Europe: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 79 Rest of Europe: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 80 Rest of Europe: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 81 Asia Pacific: Speech and Voice Recognition Market Size, by Country, 2017-2025 ($ Million)
Table 82 Asia Pacific: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 83 Asia Pacific: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 84 Asia Pacific: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 85 Asia Pacific: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 86 Asia Pacific: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 87 Japan: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 88 Japan: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 89 Japan: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 90 Japan: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 91 Japan: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 92 China: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 93 China: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 94 China: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 95 China: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 96 China: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 97 India: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 98 India: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 99 India: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 100 India: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 101 India: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 102 Rest of Asia Pacific: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 103 Rest of Asia Pacific: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 104 Rest of Asia Pacific: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 105 Rest of Asia Pacific: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 106 Rest of Asia Pacific: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 107 Latin America: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 108 Latin America: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 109 Latin America: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 110 Latin America: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 111 Latin America: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 112 Middle East & Africa: Speech and Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 113 Middle East & Africa: Speech Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 114 Middle East & Africa: Voice Recognition Market Size, by Function Type, 2017-2025 ($ Million)
Table 115 Middle East & Africa: Speech and Voice Recognition Market Size, by End-User, 2017-2025 ($ Million)
Table 116 Middle East & Africa: Speech and Voice Recognition Market Size, by Technology Type, 2017-2025 ($ Million)
Table 117 Number of Developments by The Major Players During 2015-2019
Table 118 New Product Launches
Table 119 Mergers and Acquisitions
Table 120 Partnerships, Agreements, & Collaborations
Table 121 Expansions, 2015-2018

List of Figures

Figure 1 Research Process
Figure 2 Key Executives Interviewed
Figure 3 Primary Research Techniques
Figure 4 Market Size Estimation
Figure 5 Key Adopters of Speech and Voice Recognition Technology
Figure 6 Speech Recognition Technologies Dominate the Global Speech and Voice Recognition Market
Figure 7 Healthcare Sector Dominates the Global Speech and Voice Recognition Market
Figure 8 Artificial Intelligence Dominates the Global Speech and Voice Recognition Market
Figure 9 Speech and Voice Recognition Market Overview: 2019-2025
Figure 10 Global Speech and Voice Recognition Market Size, by Function Type, 2019-2025 ($ Million)
Figure 11 Global Speech and Voice Recognition Market Size, by End-User, 2019-2025 ($ Million)
Figure 12 Global Speech and Voice Recognition Market Size, by Technology, 2019-2025 ($ Million)
Figure 13 Global Speech and Voice Recognition Market Size, by Region, 2019-2025 ($ Million)
Figure 14 North America: Speech and Voice Recognition Market Size, by Country, 2019-2025 ($ Million)
Figure 15 Europe: Speech and Voice Recognition Market Size, by Country, 2019-2025 ($ Million)
Figure 16 Asia Pacific: Speech and Voice Recognition Market Size, by Country, 2019-2025 ($ Million)
Figure 17 Growth Strategies Adopted by the Key Players
Figure 18 Global Speech and Voice Recognition Market Share Analysis, by Key Players, 2018
Figure 19 Amazon.Com, Inc.: Financial Overview (2016-2018)
Figure 20 Apple, Inc.: Financial Overview (2016-2018)
Figure 21 Baidu: Financial Overview (2016-2018)
Figure 22 Google LLC: Financial Overview (2016-2018)
Figure 23 IBM Corporation: Financial Overview (2016-2018)
Figure 24 Iflytek: Financial Overview (2015-2017)
Figure 25 Microsoft Corporation: Financial Overview (2016-2018)
Figure 26 Nuance Communications: Financial Overview (2016-2018)

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The speech and voice recognition market is expected to grow at a CAGR of 17.2% from 2019 to reach $26.8 billion by 2025. The North America region holds the largest share of the global speech and voice recognition market; whereas, Asia-Pacific market is expected to grow at the fastest CAGR during the forecast period.

Speech and voice recognition technologies authorize contactless control to several devices and equipment and deliver input for automatic translation and generate print-ready dictation. The growth in the speech and voice recognition market is primarily driven by factors, such as growing consumer interest towards adoption of advanced voice-enabled devices; rising demand for voice-enabled security systems, specifically in the BFSI sector; and growing applications of voice-enabled systems in smart homes, hospitality, and healthcare sector.

Rising demand for high-level voice biometric security fuels the growth of the overall speech and voice recognition market

Consistently increasing occurrences of frauds and identity theft predominantly among BFSI consumers are driving the demand for high-level security technologies. The technology enables simple and secure user authentication for various banking applications, including mobile banking authentication, e-banking or app-based transaction security, and transparent conversational authentication to offer improved personalized customer experience.

According to a leading Ukrainian-based software development company, Intellias, it is estimated that the adoption rate of voice-based payments of the U.S. adults will grow to 31% by 2022 from 8% in 2017, owing to explosion of voice-enabled devices, and technological advancements in artificial intelligence technology along with strong consumer value proposition for voice payments. As more and more of BFSI players deploy voice biometric authentication services, it will subsequently lead to growth in demand for voice biometric systems over the coming years.

Technological advancements to launch voice-based product purchases are promoting the global speech and voice recognition market growth

As technological growth is widening the application areas of speech and voice enabled devices, the growing acceptance and adoption of connected devices for voice-based purchases is also providing promising growth aspects for speech and voice recognition tools. These technologies provide an alternative for keyboard and mouse to search, order, and purchase products online through voice commands. In addition, increasing usage of voice assistants particularly for online purchasing of products such as grocery, apparels, homecare, and electronic appliances; ordering a meal; playing music; shopping; and navigation among others are also supporting the overall growth of the speech and voice recognition market.

Leading retailers such as Walmart, Home Depot, and Target have partnered with Google, a leading technology company to present voice-based shopping experience to their consumers through Google Express, a shopping service. According to Voice Shopping Consumer Adoption Report 2018 by voicebot.ai, voice commerce is poised to become the 3rd significant online shopping channel succeeding web and mobile. Thus, rapidly increasing demand for connected devices particularly for voice-enabled purchasing is driving the demand for speech and voice recognition technology.


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Key findings in the overall speech and voice recognition market study:

Widening applications of speech recognition with AI to drive the global speech and voice recognition market growth

Speech recognition is a cost-effective technology that enables machines or applications to comprehend spoken commands and allow users to interact with devices through their voice. Consistent proliferation of advanced technologies such as artificial intelligence and machine learning, rapid growth of smart devices market, and growing demand for voice-activated devices across diversified applications is expected to encourage the overall growth of the speech and voice recognition market during the forecast period.

Healthcare sector is expected to spearhead the industry growth

Speech and voice recognition technology offers a cost-effective and accurate identity authentication solution that can be easily integrated with several existing healthcare equipment and platforms. The need for better care management, improving operational efficiency of healthcare workforce, and reducing the response time for caregivers is driving the demand for integration of speech and voice recognition tools in existing healthcare infrastructure. This, along with the increasing efforts to enhance electronic health record systems, and growing adoption of advanced voice-enabled equipment are expected to drive the healthcare industry to register the fastest growth in the speech and voice recognition market over the coming years, thereby creating a number of technological and revenue growth opportunities for market players.

Powering up with artificial intelligence (AI), speech and voice recognition technologies are witnessing a robust growth

Artificial intelligence (AI) is rapidly becoming the next technological revolution that will essentially transform society for the betterment. The technology enables connected devices to act intelligently, thus providing unprecedented consumer experiences. Owing to this, the AI-powered devices are expected to continue to dominate the innovation in the voice-enabled devices market over the coming years. Technological advancements in the field of artificial intelligence are fabricating hyper-personalized customer experiences; thus, dominating the growth of voice-activated devices. The extensive acceptance of AI-based technology, particularly in education, BFSI, hospitality, automotive, e-commerce, healthcare, tourism, and enterprises industries worldwide are also contributing to the overall growth of the AI-enabled speech and voice recognition technology market.

Asia Pacific: The fastest growing market

The Asia-Pacific region is presently experiencing faster growth in the speech and voice recognition technologies in several industries including automotive, consumer electronics, healthcare, education, BFSI, and retail & e-commerce. This growth is largely driven by THE increasing government investments particularly in voice and artificial intelligence technology; and increasing demand for voice biometric devices to ensure high-level security with the expansion of speech technologies primarily in the healthcare, connected cars, smartphones, and consumer electronics applications. Moreover, tremendous growth in overall internet penetration, increasing smartphone users, and technological advancements are expected to support the growth of the speech and voice recognition market at the fastest CAGR over the coming years.

Key Players

The major players operating in the global speech and voice recognition market are Nuance Communications (U.S.), Google LLC (U.S.), Apple, Inc. (U.S.)., Amazon.com, Inc. (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), iFlytek (China), Baidu (China), LumenVox LLC (U.S.), Sensory, Inc. (U.S.), Sestek (Turkey), and Dolbey Systems, Inc. (OH), among others.

Scope of the Report:

Market by Function

  • Speech Recognition
    • Automatic Speech Recognition
    • Text to Speech
  • Voice Recognition
    • Speaker Identification
    • Speaker Verification

Market by End-User

  • Automotive
  • Healthcare
  • BFSI
  • Education
  • Government and Public Services
  • Manufacturing/Enterprises
  • Retail and E-Commerce
  • Legal
  • Consumer Electronics
  • Military and Defense
  • Others

Market by Technology

  • Artificial Intelligence
  • Non-Artificial Intelligence

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

Key questions answered in the report:

Growing use of voice biometric systems will propel the speech and voice recognition market

  • What factors are responsible for the increasing demand for voice-enables biometric security systems?
  • Who are the major players in the voice recognition market and what strategies do they employ?
  • How voice biometric system can help to reduce issues associated with access control?

Increasing integration of voice-enabled in-car infotainment systems are witnessing a healthy growth across the global speech and voice recognition market

  • How will recent or ongoing technological developments in the automotive industry affect the speech and voice recognition technologies market?
  • What strategies are being adopted by the key players in various regions/countries?
  • Which geographic segment is expected to experience the fastest growth in terms of speech and voice recognition technology adoption in automobile industry?

Speech and Voice Recognition market holds significant growth opportunities in developing countries

  • Which geographic region is expected to experience the fastest growth rate?
  • What factors are contributing to the rapid expansions in the developing countries?
  • What are the geographical trends and high growth rate regions/countries?

Recent partnerships, acquisitions, and expansions have taken place in the global speech and voice recognition market

  • What companies have recently merged/acquired and how will these affect the competitive landscape of the speech and voice recognition market?
  • What companies have created partnerships and how will these partnerships promote a competitive benefit?
  • Who are the key players in the global voice and speech recognition market and what share of the market do they hold?
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Tags: speech recognition Voice Recognition Market Smart Technologies smart home smart speaker virtual assistant Artificial Intelligence
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