Global Speech and Voice Recognition Market– Industry Trends and Forecast to 2025

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Global Speech and Voice Recognition
Market
Global Speech and Voice Recognition Market
Industry Trends and Forecast to 2025 Global
Speech and Voice Recognition Market 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 new market
report contains data for historic years 2016,
the base year of calculation is 2017 and the
forecast period is 2018 to 2025. Browse Full
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Report Description
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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Key Drivers
Some of the major factors driving the market for
global speech and voice recognition are
effective integration due to increased demand for
voice and speech-based biometric systems,
increasing demand for voice authentication in
mobile applications. Use of artificial
intelligence (AI) on the accuracy of speech and
voice recognition is the other factor which will
drive the demand of global speech and voice
recognition market Speak to Expert
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Market Segmentation

• The global speech and voice recognition market is
  segmented based on technology into two notable
  segments artificial intelligence based software
  and traditional software. The Speech and voice
  recognition market is dominated by artificial
  intelligence based software with 70.0 market
  share in 2017 and is expected to grow at the
  highest CAGR of 28.1 in the forecast period.
• The global speech and voice recognition market is
  segmented based on deployment into two notable
  segments artificial intelligence based cloud
  based and on premise.
• Geography (North America, South America, Europe,
  Asia-Pacific, Middle East Africa)
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Key Points
Nuance Communications, Inc. is going to dominate
the speech and voice recognition market
following with Microsoft and IFLYTEK CO. LTD.
along with others such as HOYA Corporation,
Raytheon, Advanced Voice Recognition Systems,
Inc., Pareteum, Sensory, IncVoiceVault Inc.,
LumenVox, LLC., Acapela Group SA, VocalZoom,
BioTrust, Uniphore, Voicebox Technologies
Corporation and Cantab Research Limited among
others.
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About Data Bridge Market
Research
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