Global Speech and Voice Recognition Market To Witness Massive Growth (CAGR of 25.7%) By 2025 | Apple, Mercedes-Benz USA, HARMAN International
With a systematic problem analysis, model building and fact-finding, Speech and Voice Recognition market report helps businesses in decision-making and managing marketing of goods and services. The data and the information regarding SE industry are taken from reliable sources such as websites, annual reports of the companies, and journals, etc. and were checked and validated by the market experts. Speech and Voice Recognition report provides statistics on the current state of the industry as a valuable source of guidance and direction for companies and investors interested in this market. This is the most relevant, unique, fair and credible global market research report which suits your business needs.
Leading players of Speech and Voice Recognition Market are Nuance Communications, Microsoft, Hoya, Apple, Mercedes-Benz USA, HARMAN International, Google, and so on.
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% by the end of 2025.
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Key Segmentation of Speech and Voice Recognition Market
Global Speech and Voice Recognition Market By Technology (Artificial Intelligence Based Software, Traditional Software), Product Type (Speech Recognition Software, Voice Recognition Software), Deployment (Cloud Based, On Premise), Industry (Entertainment & Mobile Apps, Banking, Healthcare, Automobiles, Analytics, Security, Education & Academics), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
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Major Drivers: Global Speech and Voice Recognition Market
INCREASED DEMAND FOR VOICE AND SPEECH-BASED BIOMETRIC SYSTEMS
The speech-based biometric are progressively increasing in society. Due to arrival of speech-based biometric systems the user need not to remember password or a PIN. A voice-based biometric systems converts each spoken word into numerous dominant frequencies. The wave that is formed by a user’s speech produces an electrical signal output from the microphone. The application of this technology is mainly for security use in banking and trading, e-Commerce, insurance use, health use, network security. The companies that are developing voice and speech based biometric systems are Microsoft that deals in application namely Azure for speaker recognition, Uniphore, Nuance Communication, VoiceVault, Sensory and among others. Voice biometric technology for authentication purpose is considered as convenient and accurate. The rapid development and increased usage of automated applications for finances and E-commerce has increased the concern over reliability, high-security, and non-intrusive methods for personal authentication. Speaker recognition technology is one of the technologies included in analysing and modelling the voiceprints is now playing a vital role in the society
INCREASING DEMAND FOR VOICE AUTHENTICATION IN MOBILE APPLICATIONS
The network connectivity and computing power in automobiles, mobile phones, and other mobile devices has led to an eruption of applications and services for consumers. Applications such as Maps, navigation, the arrival of social networking sites such as Twitter and Facebook, email, web search, games, and music and video content posed many user interface challenges to designers. For instance, during the travel time the users are not always able to keep their eyes and hands on the device at certain places and situations such as, working out at the health club, and while driving a car. To overcome these challenges, the developers have then decided to improve the user’s experience, by designing predictive text, touchscreens, and speech technology. A speech technology such as speech recognition has been in use for mobile applications.
Key Players
Nuance Communications, Microsoft, Hoya, Raytheon, Sensory, Inc., Anhui USTC iFLYTEK Co, VoiceVault, LumenVox, Acapela Group, VocalZoom, BioTrust, Voicebox Technologies Corporation, Cantab Research Limited, Apple, Mercedes-Benz USA, HARMAN International, Google, ReadSpeaker, a HOYA Speech Company, Pareteum Corporation NYSE American: TEUM, Advanced Voice Recognition Systems and others
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