Speech and Voice Recognition Market report offers a detailed Outlook and future prospects of the Speech and Voice Recognition Industry with analysis of major players that helps Industry experts, analysts and business decision makers to decide their business strategies and achieve proposed business aims.
London, UK -- (SBWIRE) -- 05/18/2018 -- Global speech and voice recognition is expected to reach USD 6,770.21 Million by 2025 from USD 1,095.00 Million in 2017, at a CAGR of 25.7% in the forecast period 2018 to 2025.
The major factors driving the growth of this market are the effective integration due to increased demand for voice and speech-based biometric systems, increasing demand for voice authentication in mobile applications and use of artificial intelligence (AI) on the accuracy of speech and voice recognition. On the other hand, disadvantages related to speech and voice recognition systems may hinder the growth of the market.
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The key market players for Global speech and voice recognition market are listed below:
Nuance Communications, Inc.
IFLYTEK CO. LTD.
Advanced Voice Recognition Systems, Inc.
Acapela Group SA
Voicebox Technologies Corporation
Cantab Research Limited
The market is further segmented into:
The global speech and voice recognition market is segmented based on technology into two notable segments system; speech recognition software and voice recognition software. Speech recognition software is sub segmented on the basis of product type and usage. On the basis of product type, speech recognition software is sub segmented into text to speech and speech to text. Speech to text is further sub segmented into binary and multilingual. On the basis of usage, speech recognition software is sub segmented into back end, front end and end to end. Voice recognition software is sub segmented into voice verification software and voice identification software. The speech and voice recognition market is dominated by speech recognition software with 84.5% market share in 2017 and is expected to grow at the highest CAGR of 26.9% in the forecast period.
The report covers the present scenario and the growth prospects of the Global speech and voice recognition market for 2018-2025. To calculate the market size, the report considers the revenue generated from the sales of the web conferencing and unified communication and collaboration (UC&C) and video conferencing, secondary resources and doing in-depth company share analysis of major 10 players in the market.
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Table of Content
- MARKET SEGMENTATION
- MARKET OVERVIEW
- EXECUTIVE SUMMARY
- PREMIUM INSIGHTS
- GLOBAL SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY
- GLOBAL SPEECH AND VOICE RECOGNITION MARKET, BY PRODUCT TYPE
- GLOBAL SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT
- GLOBAL SPEECH AND VOICE RECOGNITION MARKET, BY INDUSTRY
- GLOBAL SPEECH AND VOICE RECOGNITION MARKET, BY GEOGRAPHY
- GLOBAL SPEECH AND VOICE RECOGNITION MARKET, COMPANY LANDSCAPE
- COMPANY PROFILES
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