Global Speech Recognition Software Market Growth (Status and Outlook) 2024-2030

Global Speech Recognition Software Market Growth (Status and Outlook) 2024-2030

A speech recognition software identifies words spoken by an individual or speaker into a microphone, converts them into a computer-readable format, and responds automatically. These software applications recognize speech in multiple languages.

The global Speech Recognition Software market size is projected to grow from US$ million in 2023 to US$ million in 2030; it is expected to grow at a CAGR of % from 2024 to 2030.

LPI (LP Information)' newest research report, the “Speech Recognition Software Industry Forecast” looks at past sales and reviews total world Speech Recognition Software sales in 2023, providing a comprehensive analysis by region and market sector of projected Speech Recognition Software sales for 2024 through 2030. With Speech Recognition Software sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Speech Recognition Software industry.

This Insight Report provides a comprehensive analysis of the global Speech Recognition Software landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Speech Recognition Software portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Speech Recognition Software market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Speech Recognition Software and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Speech Recognition Software.

In terms of geography, the Americas dominated this market and is envisaged to grow at a CAGR of over 13% until the end of the forecast period. Factors like the increasing acceptance of speech recognition solutions in the healthcare and banking, financial services, and insurance sectors for time and attendance monitoring and access to organizations’ PCs, networks, and servers will result in the high growth of this market in the Americas.

This report presents a comprehensive overview, market shares, and growth opportunities of Speech Recognition Software market by product type, application, key players and key regions and countries.

Segmentation by type
Isolated Word Recognition
Keyword Spotting
Continuous Speech Recognition

Segmentation by application
Healthcare
Military
Automotive
Retail
Government
Education
BFSI
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
IBM
Microsoft
Nuance Communications
AT&T
Raytheon BBN Technologies
Sensory
Dolby Systems
LumenVox
OnMobile Global
Voxeo

Please note: The report will take approximately 2 business days to prepare and deliver.