Voice Speech Recognition Software Market 2024-2028
The voice speech recognition software market is forecasted to grow by USD 20065.3 mn during 2023-2028, accelerating at a CAGR of 15.7% during the forecast period. The report on the voice speech recognition software market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing adoption of technologically advanced mobile devices, increasing demand for voice-driven navigation systems and workstations, and growing use of voice biometrics.
Technavio's voice speech recognition software market is segmented as below:
- By Technology
- Voice recognition
- Speech recognition
- By End-user
- Healthcare
- Consumer products
- Automotive
- Enterprise contact centers
- Others
- By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the growing use of AI integrated with voice and speech analytics as one of the prime reasons driving the voice speech recognition software market growth during the next few years. Also, rising use of deep neural engines and networks and increasing of voice-enabled devices in automobiles will lead to sizable demand in the market.
The report on the voice speech recognition software market covers the following areas:
- Voice speech recognition software market sizing
- Voice speech recognition software market forecast
- Voice speech recognition software market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading voice speech recognition software market vendors that include 3M Co., Advanced Voice Recognition Systems Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Baidu Inc., Brainasoft, CastleOS Software LLC, Cisco Systems Inc., iFLYTEK Co. Ltd., International Business Machines Corp., LumenVox GmbH, Meta Platforms Inc., Microsoft Corp., Optimal Technology Solutions LLC, paragon GmbH and Co. KGaA, RTX Corp., Sensory Inc., speak2web, and Verint Systems Inc.. Also, the voice speech recognition software market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.