Voice and Speech Recognition Technology

Voice and Speech Recognition Technology

Global Voice and Speech Recognition Technology Market to Reach US$42.3 Billion by 2030

The global market for Voice and Speech Recognition Technology estimated at US$12.2 Billion in the year 2023, is expected to reach US$42.3 Billion by 2030, growing at a CAGR of 19.5% over the analysis period 2023-2030. Speech Recognition Technology, one of the segments analyzed in the report, is expected to record a 17.1% CAGR and reach US$25.5 Billion by the end of the analysis period. Growth in the Voice Recognition Technology segment is estimated at 24.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$4.0 Billion While China is Forecast to Grow at 23.2% CAGR

The Voice and Speech Recognition Technology market in the U.S. is estimated at US$4.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.3 Billion by the year 2030 trailing a CAGR of 23.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 17.0% and 17.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 18.4% CAGR.

Global Voice and Speech Recognition Technology Market - Key Trends and Drivers Summarized

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Select Competitors (Total 192 Featured) -

• Cisco Systems, Inc.
• Apple, Inc.
• AT&T, Inc.
• [24]7.ai, Inc.
• AppTek
• Auraya Systems Pty Ltd.
• Advanced Media, Inc.
• Advanced Voice Recognition Systems, Inc.
• Aware, Inc.
• Acapela Group SA
• Baidu Duer Business Unit (BU) (DuerOS)
• Cobalt Speech & Language, Inc.
• Avdor CIS Crystal Quality Solutions
• Brainasoft
• Call Journey

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