Speech & Voice Recognition Market Set to Exceed $31.49 Billion By 2026 | CAGR: 18.3%
Forecast to 2020
Voice and Speech Recognition Market Size to Reach $31.49 Billion By 2026
“Global Voice and Speech Recognition Market Share, Size, Trends, Industry Analysis Report By Component (Hardware, Software, Services); By Interface (AI-Based, NonAI Based); By End-User (Automotive, Healthcare, BFSI, Consumer, Retail, Government, Home security & Automation, Others); By Regions, Segments & Forecast, 2019 - 2026� The global speech and voice recognition market size is expected to grow to USD 31.49 billion by 2026 according to a new report published by Polaris Market Research In 2018, the non AI-based voice and speech recognition segment dominated the global market in terms of revenue. North America is expected to be the leading contributor to global market revenue during forecast period. A currently moving demand for virtual assistants at homes and enterprises supports the growth of this market. A growing need for automation in customer service and integration of virtual assistants with smart home appliances (digital homes) drive the growth of market. A need to streamline enterprise communication to improve productivity further supports market growth. Other driving factors include increased use in automobiles, mobile banking applications and Electronic health record applications (EHR). The increasing use in biometric applications for user voice authentication would boost market growth during forecast period. A surging demand from emerging economies and technological advancements are factors expected to provide several growth opportunities in coming years. An upward interest shone through in cars sector and expanding modernization of vehicles drove showcase development. The thought process being voice acknowledgements diminish mistakes enhancing market effectiveness. IT has been foreseen that half of ventures will be voice essays by 2020. An increasing number of data lapses such as security attacks give reasonable credence to voice recognition systems that are more reliable authentication methods. Growing number of security concerns drive market. Browse Detailed Research Report On Voice and Speech Recognition Market Analysis: https://www.polarismarketresearch.com/industry-analysis/voice-recognition-market/ North America came up with highest revenue in the market in 2017 and is anticipated to lead market gains through the forecast period. Use of intelligent virtual assistants to replace traditional interactive response systems has boosted market growth in the region. Use of intelligent virtual assistants is proving effective by enhancing customer and brand experience providing a consumer-friendly environment. The presence of established telecom and cloud infrastructure in the region and growing trend of BYOD drive the market growth in the region. The demand for voice recognition systems has grown significantly in BFSI and healthcare sectors in the regions. Increased adoption of smart homes and smart buildings would provide opportunities for market during forecast period.
-2-
Voice and Speech Recognition Market Size to Reach $31.49 Billion By 2026
China is the world’s largest populace and is expected to have high adoption rates for these technologies. The number of mobile transactions has reportedly increased which makes it ideal for implementation of this software. Market players are introducing new products in the market to cater to a growing customer base and players are venturing into new markets to expand customer portal and make market presence strong.
The companies in the speech and voice recognition market include Google, Inc., Baidu, Inc., Facebook, Inc., Amazon.com, Inc., Advanced Voice Recognition Systems, Inc., Apple, Inc., IBM Corporation, Microsoft Corporation, Briana soft, VoiceBox Technologies, Fulcrum Biometrics, Neurotechnology, M2SYS Biometrics, Sensory Inc., Voice Base, INc., Agnitio Corp., Auraya Systems, VoiceTrust and Nuance Communications. Request for sample: https://www.polarismarketresearch.com/industry-analysis/voicerecognition-market/request-for-sample
Table of Contents 1. Overview and Scope 1.1. Research goal & scope 1.2. Research assumptions 1.3. Research Methodology 1.3.1. Primary data sources 1.3.2. Secondary data sources 1.4. Key take-away 1.5. Stakeholders 2. Executive Summary -3-
Voice and Speech Recognition Market Size to Reach $31.49 Billion By 2026
3.
4.
5.
6.
2.1. Market Definition 2.2. Market Segmentation Voice & Speech Recognition Market Insights 3.1. Voice & Speech Recognition – Industry snapshot 3.2. Voice & Speech Recognition - Ecosystem analysis 3.3. Voice & Speech Recognition Market Dynamics 3.3.1. Voice & Speech Recognition – Market Forces 3.3.1.1. Voice & Speech Recognition Market Driver Analysis 3.3.1.2. Voice & Speech Recognition Market Restraint/Challenges analysis 3.3.1.3. Voice & Speech Recognition Market Opportunity Analysis 3.4. Industry analysis - Porter's five force 3.4.1. Bargaining power of supplier 3.4.2. Bargaining power of buyer 3.4.3. Threat of substitute 3.4.4. Threat of new entrant 3.4.5. Degree of competition 3.5. Voice & Speech Recognition Market PEST Analysis, 2018 3.6. Voice & Speech Recognition Market Value Chain Analysis 3.7. Voice & Speech Recognition Industry Trends 3.8. Competitive Ranking Analysis Voice & Speech Recognition Market Size and Forecast, 2019 - 2026 by Component 4.1. Global voice & speech recognition market share by component, 2018 & 2026 4.2. Hardware 4.2.1. Global market estimates & forecast for hardware component, 2015 – 2026 4.2.2. Global market estimates & forecast for hardware component, by region, 2015 2026 4.3. Software 4.3.1. Global market estimates & forecast for software component, 2015 – 2026 4.3.2. Global market estimates & forecast for software component, by region, 2015 2026 4.4. Services 4.4.1. Global market estimates & forecast for services, 2015 – 2026 4.4.2. Global market estimates & forecast for services, by region, 2015 - 2026 Voice & Speech Recognition Market Size and Forecast, 2019 - 2026 by Interface 5.1. Global voice & speech recognition market share by interface, 2018 & 2026 5.2. AI-Based 5.2.1. Global market estimates & forecast for AI-based interface, 2015 – 2026 5.2.2. Global market estimates & forecast for AI-based interface, by region, 2015 - 2026 5.3. Non AI-Based 5.3.1. Global market estimates & forecast for non AI-based interface, 2015 – 2026 5.3.2. Global market estimates & forecast for non AI-based interface, by region, 2015 2026 Voice & Speech Recognition Market Size and Forecast, 2019 - 2026 by End-User 6.1. Global voice & speech recognition market share by end-user, 2018 & 2026 6.2. Automotive 6.2.1. Global market estimates & forecast in automotive, 2015 – 2026 6.2.2. Global market estimates & forecast in automotive, by region, 2015 - 2026 6.3. Healthcare 6.3.1. Global market estimates & forecast in healthcare, 2015 – 2026 6.3.2. Global market estimates & forecast in healthcare, by region, 2015 - 2026 6.4. BFSI 6.4.1. Global market estimates & forecast in BFSI, 2015 – 2026 -4-
Voice and Speech Recognition Market Size to Reach $31.49 Billion By 2026
6.4.2. Global market estimates & forecast in BFSI, by region, 2015 - 2026 6.5. Consumer 6.5.1. Global market estimates & forecast in consumer, 2015 – 2026 6.5.2. Global market estimates & forecast in consumer, by region, 2015 - 2026 6.6. Retail 6.6.1. Global market estimates & forecast in retail, 2015 – 2026 6.6.2. Global market estimates & forecast in retail, by region, 2015 - 2026 6.7. Government 6.7.1. Global market estimates & forecast in government, 2015 – 2026 6.7.2. Global market estimates & forecast in government, by region, 2015 - 2026 6.8. Home Security & Automation 6.8.1. Global market estimates & forecast in home security & automation, 2015 – 2026 6.8.2. Global market estimates & forecast in home security & automation, by region, 2015 - 2026 6.9. Others 6.9.1. Global market estimates & forecast for other end-uses, 2015 – 2026 6.9.2. Global market estimates & forecast for other end-uses, by region, 2015 - 2026 7. Voice & Speech Recognition Market Size and Forecast, 2019 - 2026 by Region 7.1. Global voice & speech recognition market share by regions, 2018 & 2026 7.2. North America 7.2.1. North America voice & speech recognition market estimates & forecast, 2015 – 2026 7.2.2. North America voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.2.3. North America voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.2.4. North America voice & speech recognition market estimates & forecast, by enduser, 2015 – 2026 7.2.5. U.S. 7.2.5.1. U.S. voice & speech recognition market estimates & forecast, 2015 – 2026 7.2.5.2. U.S. voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.2.5.3. U.S. voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.2.5.4. U.S. voice & speech recognition market estimates & forecast, by end-user, 2015 – 2026 7.2.6. Canada 7.2.6.1. Canada voice & speech recognition market estimates & forecast, 2015 – 2026 7.2.6.2. Canada voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.2.6.3. Canada voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.2.6.4. Canada voice & speech recognition market estimates & forecast, by enduser, 2015 – 2026 7.3. Europe 7.3.1. Europe voice & speech recognition market estimates & forecast, 2015 – 2026 7.3.2. Europe voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.3.3. Europe voice & speech recognition market estimates & forecast, by interface, 2015 – 2026
-5-
Voice and Speech Recognition Market Size to Reach $31.49 Billion By 2026
7.3.4. Europe voice & speech recognition market estimates & forecast, by end-user, 2015 – 2026 7.3.5. Germany 7.3.5.1. Germany voice & speech recognition market estimates & forecast, 2015 – 2026 7.3.5.2. Germany voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.3.5.3. Germany voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.3.5.4. Germany voice & speech recognition market estimates & forecast, by enduser, 2015 – 2026 7.3.6. UK 7.3.6.1. UK voice & speech recognition market estimates & forecast, 2015 – 2026 7.3.6.2. UK voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.3.6.3. UK voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.3.6.4. UK voice & speech recognition market estimates & forecast, by end-user, 2015 – 2026 7.3.7. France 7.3.7.1. France voice & speech recognition market estimates & forecast, 2015 – 2026 7.3.7.2. France voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.3.7.3. France voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.3.7.4. France voice & speech recognition market estimates & forecast, by enduser, 2015 – 2026 7.3.8. Italy 7.3.8.1. Italy voice & speech recognition market estimates & forecast, 2015 – 2026 7.3.8.2. Italy voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.3.8.3. Italy voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.3.8.4. Italy voice & speech recognition market estimates & forecast, by end-user, 2015 – 2026 7.4. Asia-Pacific 7.4.1. Asia Pacific voice & speech recognition market estimates & forecast, 2015 – 2026 7.4.2. Asia Pacific voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.4.3. Asia Pacific voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.4.4. Asia Pacific voice & speech recognition market estimates & forecast, by enduser, 2015 – 2026 7.4.5. China 7.4.5.1. China voice & speech recognition market estimates & forecast, 2015 – 2026 7.4.5.2. China voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.4.5.3. China voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 -6-
Voice and Speech Recognition Market Size to Reach $31.49 Billion By 2026
7.4.5.4. China voice & speech recognition market estimates & forecast, by enduser, 2015 – 2026 7.4.6. India 7.4.6.1. India voice & speech recognition market estimates & forecast, 2015 – 2026 7.4.6.2. India voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.4.6.3. India voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.4.6.4. India voice & speech recognition market estimates & forecast, by enduser, 2015 – 2026 7.4.7. Japan 7.4.7.1. Japan voice & speech recognition market estimates & forecast, 2015 – 2026 7.4.7.2. Japan voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.4.7.3. Japan voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.4.7.4. Japan voice & speech recognition market estimates & forecast, by enduser, 2015 – 2026 7.5. Latin America 7.5.1. Latin America voice & speech recognition market estimates & forecast, 2015 – 2026 7.5.2. Latin America voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.5.3. Latin America voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.5.4. Latin America voice & speech recognition market estimates & forecast, by enduser, 2015 – 2026 7.5.5. Brazil 7.5.5.1. Brazil voice & speech recognition market estimates & forecast, 2015 – 2026 7.5.5.2. Brazil voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.5.5.3. Brazil voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.5.5.4. Brazil voice & speech recognition market estimates & forecast, by enduser, 2015 – 2026 7.5.6. Mexico 7.5.6.1. Mexico voice & speech recognition market estimates & forecast, 2015 – 2026 7.5.6.2. Mexico voice & speech recognition market estimates & forecast, by component, 2015 – 2026 7.5.6.3. Mexico voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.5.6.4. Mexico voice & speech recognition market estimates & forecast, by enduser, 2015 – 2026 7.6. Middle East & Africa 7.6.1. Middle East & Africa voice & speech recognition market estimates & forecast, 2015 – 2026 7.6.2. Middle East & Africa voice & speech recognition market estimates & forecast, by component, 2015 – 2026 -7-
Voice and Speech Recognition Market Size to Reach $31.49 Billion By 2026
7.6.3. Middle East & Africa voice & speech recognition market estimates & forecast, by interface, 2015 – 2026 7.6.4. Middle East & Africa voice & speech recognition market estimates & forecast, by end-user, 2015 – 2026 Access Press Release onVoice and Speech Recognition Market : https://www.polarismarketresearch.com/press-releases/voice-recognition-market About Polaris Market Research Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers. E mail Id: sales@polarismarketresearch.com Web: www.polarismarketresearch.com Official Blog: http://ict-market-research.blogspot.com/
-8-