Voice and Speech Recognition Market 2019-2025
|発行||Orion Market Research Pvt Ltd||商品コード||911649|
Global Voice and Speech Recognition
Market Size, Share & Trends Analysis Report by Technology (AI Based and Non-AI Based) and by Vertical (Automotive, Consumer, Government, Enterprise, BFSI, and Others) and Forecast, 2019-2025.
Voice and speech recognition are biometric modalities that are finding its application in the enhancement of security and convenience in the automotive and government sector. The voice recognition system examines the identity of the speaker behind a particular voice. It examines the different voices by studying the behavioral patterns of different people, including a persons' speaking style, voice pitch, accent, and others. Whereas, speech recognition is the ability to receive and execute commands that are spoken to the device. Healthcare and automotive are the key sectors propelling the growth of the voice and speech recognition market across the globe. In the healthcare sector, voice recognition aids in enhancing the electronic health record systems by providing ease to doctors to keep track of the patients. Whereas, the rising voice-activated software in next-generation cars is strengthening the growth of the market in the automotive industry. Furthermore, the surging use of voice biometrics for security purposes aids in giving the right to authenticated users for accessing the information or performing a transaction in enterprises and government sector, which in turn, is driving the market growth across the globe.
On the basis of geography, the global voice and speech recognition market is analyzed for North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to witness a significant growth rate in the global voice and speech recognition market during the forecast period. This is attributed to the increased use of voice and speech recognition solutions across various applications, such as consumer electronics, mobile banking, among others. Moreover, increasing adoption of voice-enabled smartphones are likely to stimulate the growth of the market in the region.
The prominent players functioning in the global voice and speech recognition market are Microsoft Corp., Nuance Communication, Inc., Amazon Web Services, Inc., Apple Inc., Google Inc., Sonix, Inc., and Brainasoft, among others. The companies are increasingly investing in product development and innovation by adopting several strategies, such as mergers and acquisitions, partnerships and collaborations, in order to gain a competitive share in the global market. For instance, in June 2018, Nuance Communication, Inc. partnered with Nexgen for the development of voice recognition tools. This partnership will provide Nuance Communication a way to bring its Dragon Law Enforcement solution to a broader customer base.
The market study of the global voice and speech recognition market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for automotive industries, investment companies, and government organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.