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Global Voice and Speech Recognition Market Insights 2023-2028
The Global Voice and Speech Recognition Market is
projected to grow at a CAGR of more than 20% during the forecast period, i.e.,
2023-28.
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Top Players in the Voice and Speech Recognition Market:
·
Advanced Voice Recognition Systems, Inc.
·
Agnitio S.L. (subsidiary of Nuance
Communications Inc.)
·
Amazon.com, Inc.
·
Anhui USTC iFlytek Co., Ltd.
·
Apple Inc.
·
Baidu, Inc
·
BioTrust ID B.V.
·
Google LLC
·
International Business Machines Corporation
·
M2Sys LLC.
·
LumenVox LLC
·
Microsoft Corporation
·
M*Modal, Inc.
·
Nuance Communication, Inc
·
Raytheon Company
Segmentation Analysis of Voice and Speech Recognition Market
Voice and
Speech Recognition Market exactly assesses and highlights significant trends
and influencing factors within each segment. The comprehensive analysis extends
its predictions for the period spanning 2023 to 2028, focusing on the national
landscape. The market is exactly categorized based on this analysis, providing
valuable insights into its various facets.
·
By
Function
o
Voice Recognition
§
Speaker identification
§
Speaker verification
o
Speech Recognition
§
Automatic speech recognition
§
Text to speech
·
By
Technology
o
Artificial Intelligence Based
o
Non-Artificial Intelligence Based
Based on Technology:
Between the two, the Artificial Intelligence-Based Voice and Speech Recognition
segment is expected to attain faster growth during the forecast period. It
primarily attributes to the accuracy exhibited by Artificial Intelligence in
understanding and recognizing different speech patterns by converting speech
into speech unit algorithms, formulation, and demonstration. Besides, the
development of Artificial intelligence has brought along the scope for machine
learning and language processing. As such, the rise and acceptance of AI-based
smart devices like Google-Home, and Alexa is foreshadowing a demand and rise in
the speech and voice recognition market in the forecast period.
·
By
End-Users
o
Automotive
o
Banking Finance Services & Insurance (BFSI)
o
Education
o
Enterprise
o
Government
o
Healthcare
o
Legal
o
Military
o
Retail
o
Other
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A Comprehensive
Geographical Analysis:
By Region
- North
America
- South
America
- Europe
- The
Middle East & Africa
- Asia-Pacific
Here,
Asia-Pacific is currently going through notable growth within several
industries, including AI, consumer electronics, gadgets, healthcare, military,
education, BFSI, automotive, entertainment, and retail. Economic growth and
heavy spending habits are contributing to the technological evolution of the
Asia-Pacific region.
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