The Speech and Voice Recognition Market Size, By Deployment Mode, By Technology, By Delivery Methods, By End Use, and By Region, Market Share & Forecast, Global Forecast to 2022 – 2027.

Global Speech and Voice Recognition Market Size, By Deployment Mode, By Technology, By Delivery Methods, By End Use, and By Region, Market Share & Forecast, Global Forecast to 2022 – 2027.

Global Speech and Voice Recognition Market

The Global Speech and Voice Recognition Market size was valued at USD 9.4 billion in 2022 and is forecasted to be USD 28.1 billion by 2027; growing at a CAGR of 24.4% from 2022 to 2027.

The Global Speech and Voice Recognition Market delivers a comprehensive evaluation of the market. It does give a comprehensive analysis via research study which observes historical data & emerging technology to determine the industry’s growth drivers.

Factors such as rapid usage of smart appliances, increasing demand in healthcare for improving efficiency and the use of artificial intelligence technology to boost the accuracy of speech and voice recognition systems are majorly driving the growth of the market during the forecast period.In this report study, the key trend prospects & important drivers for the Speech and Voice Recognition market’s growth are explored and analysed in depth. The market dynamics included in the report includes drivers, restraints, opportunities, and challenges, which may have a positive or negative impact on market overall growth.

Global Speech and Voice Recognition Market Report Objective:

This report helps the user understand the market in terms of definition, segmentation, market potential, key trends, and industry challenges. Industry analysis were undertaken across the report’s framework, which will help readers obtain a comprehensive scenario of the market. The market statistics & data were acquired from reliable sources such as websites, annual reports of companies, journals, and other publications, then double-checked and validated by industry experts.

This report also covers PORTER’S five forces to help determine several factors like the threat of substitutes, competitive analysis, power of buyer, supplier as well as the threat of new entry. The report has classified the global Speech and Voice Recognition market based on Deployment Mode, Technology, Delivery Methods, End Use and Region.

Scope of the Report

The increasing adoption in sectors like AI, healthcare, retail, mobile banking, e-commerce, and cloud services is expected to propel growth in the market. The growing frequency of frauds in end-user industries such as banking, healthcare and retail is expected to increase the use of biometrics authentication, which should boost the voice recognition market.

Key Players:

The Speech and Voice Recognition market are dominated by a few globally established players such as Apple, Microsoft, IBM, Alphabet, Amazon, Baidu, iFlytek, SESTEK, speak2web, Verint, CANTAB Research, Sensory, Raytheon BBN Technologies, M2SYS, Acapela Group, ValidSoft, Dolbey, etc.

Market Taxonomy

By Deployment Mode

• On Cloud
• On-Premises/Embedded

• Speech Recognition
• Automatic Speech Recognition
• Text-To-Speech
• Voice Recognition
• Speaker Identification
• Speaker Verification

• Artificial Intelligence (AI)-Based
• Non-Artificial Intelligence-Based

• Automotive
• Enterprise
• Consumer Applications
• Banking, Finance Service & Insurance
• Telecommunication
• Government
• Retail
• Healthcare
• Military
• Legal
• Education
• Others

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa