Hexa Reports Market Research Reports and Insightful Company Profiles
Voice Recognition Market Analysis, Share and Size, Emerging Trends, Growth, Overview And Segment Forecasts To 2024
The global voice recognition market is expected to reach USD 127.58 billion by 2024, according to a new study conducted by Grand View Research, Inc. The increasing number of benefits offered by the voice recognition technology, including the easy accessibility, better productivity, and flexibility are anticipated to drive the demand for speech recognition solutions over the next eight years. The increased demand for high comfort and convenience is also expected to propel the demand. The voice recognition technology exhibits vast potential in various application areas, especially in the home automation system, due to advantages such as convenience and lower energy consumption. Browse Detail Report With TOC @ http://hexareports.com/report/voice-recognition-market/details Voice recognition is also a core technology leveraged in the semi-autonomous and autonomous vehicles. The autonomous car industry is expected to witness an explosive growth, which is anticipated to subsequently drive the market growth over the forecast period. However, the high price of AI-based voice control system is anticipated to pose a challenge to market expansion. Additionally, the inability to accurately recognize speech in the regional accent is a key challenge to the market. Further key findings from the study suggest: Enhanced device dominated the market in 2015with over 50% of the total market share. This is attributed to the increasing usage of voice recognition solutions in home automation and consumer
Hexa Reports Market Research Reports and Insightful Company Profiles electronics application areas. The software segment is anticipated to grow significantly over the forecast period as several prominent players have open sourced their software development kit code. The growing trend toward the development of the artificial intelligence-based system is expected to be the key factor driving industry growth over the foreseeable future. Leveraging deep learning algorithm in voice and speech solutions for better search results is expected to be the key factor for the growth of AI-based application segment. The deployment of speech recognition solutions in consumer and home security & automation verticals is anticipated to take the industry ahead at a substantial pace. This can be attributed to the changing lifestyle in several countries including the U.S., Germany, and the UK. The growing adoption of smart electronics in India, China, Japan, and Brazil may also catalyze industry growth in the consumer vertical. North America dominated the market (in terms of revenue) representing more than 30% of the total share in 2014. Additionally, North America and Asia Pacific are anticipated to witness a considerable growth due to the presence of several U.S. and China-based players, including Apple, Inc., Facebook, Inc., Baidu, Inc., Amazon.com, Inc., and Alphabet, Inc., working toward the development of this technology. Technology Market Research Related Reports:  Substation Automation Market Analysis And Segment Forecasts To 2024 http://hexareports.com/report/substation-automation-market/details  U.S. Energy Management Systems (EMS) Market Analysis And Segment Forecasts To 2024 http://hexareports.com/report/u-s-energy-management-systems-ems-market/details Furthermore, the presence of several notable consumer electronics manufacturers, such as Samsung Electronics, Co., Ltd., with a strong distribution channel in the North American and Asia Pacific regions are expected to be the key factors for industry growth in this region over the forecast period. The prominent industry participants include Nuance Communications, Apple, Inc., Baidu, Inc., Alphabet, Inc., and Amazon.com, Inc. These players are focusing on integrating the artificial intelligence technology in order to build superior products to increase their customer base. Table Of Content Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumptions 1.3. List of Data Sources Chapter 2. Executive Summary Chapter 3. Market Snapshot
Hexa Reports Market Research Reports and Insightful Company Profiles 3.1. Voice Recognition - Industry Snapshot and Key Buying Criteria, 2013 - 2024 Chapter 4. Voice Recognition Industry Outlook 4.1. Market Segmentation 4.2. Market Size and Growth Prospects 4.3. Value Chain Analysis 4.4. Market Dynamics 4.5. Market Opportunities 4.6. Industry Analysis - Porter's 4.7. Voice Recognition - PESTEL Analysis 4.8. Technology Overview 4.9. Voice Recognition Technology - Home Security and Home Automation Chapter 5. Voice Recognition Component Outlook 5.1. Voice recognition market share by component, 2015 & 2024 Chapter 6. Voice Recognition Application Outlook 6.1. Voice recognition market share by application, 2015 & 2024 Chapter 7. Voice Recognition Vertical Outlook 7.1. Voice Recognition Vertical Outlook 7.2. Voice recognition market share by vertical, 2015 & 2024 Chapter 8. Voice Recognition Regional Outlook 8.1. Voice recognition market share by region, 2015 & 2024 Chapter 9. Competitive Landscape 9.1. Key Takeaways 9.2. Product Offerings of Leading Players 9.3. Company Market Share Analysis 9.4. Competitive Strategy Adopted by Leading Players 9.5. Analyst View 9.6. Recommendation Chapter 10. Company Profiles 10.1. Advanced Voice Recognition Systems, Inc. 10.2. Agnitio S.L. 10.3. Amazon.com, Inc. 10.4. Anhui USTC iFlytek Co., Ltd. 10.5. Api.ai 10.6. Apple, Inc. 10.7. Baidu, Inc. 10.8. BioTrust ID B.V. 10.9. CastleOS Software, LLC
Hexa Reports Market Research Reports and Insightful Company Profiles 10.10. Facebook, Inc. Browse Full Report @ http://hexareports.com/report/voice-recognition-market/details About Us: Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives. Contact Information: Ryan Shaw Felton Office Plaza, 6265 Highway 9, Felton, California, 95018, United States Phone Number 1-800-489-3075 Email Us: sales@hexareports.com Our Website: http://www.hexareports.com/ Visit our Blog:http://hexareports.blogspot.com/ Like our Facebook page: https://www.facebook.com/hexareportsindustry/ Follow us on LinkedIn: https://www.linkedin.com/company/hexa-reports-inc-