Global Voice Recognition Systems Market to Reach $4.9 Billion by 2030
The global market for Voice Recognition Systems estimated at US$2.3 Billion in the year 2023, is expected to reach US$4.9 Billion by 2030, growing at a CAGR of 11.4% over the analysis period 2023-2030. Conventional Voice Recognition Systems, one of the segments analyzed in the report, is expected to record a 11.3% CAGR and reach US$2.3 Billion by the end of the analysis period. Growth in the Autonomous Voice Recognition Systems segment is estimated at 10.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $695.5 Million, While China is Forecast to Grow at 11% CAGR
The Voice Recognition Systems market in the U.S. is estimated at US$695.5 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$853.8 Million by the year 2030 trailing a CAGR of 11% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.9% and 9.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.
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