Speech and Voice Recognition Market Size, Share, Sales, Analysis, Forecast By Function (Speech Recognition and Voice Recognition), By Technology (Artificial Intelligence and Non-artificial Intelligence), By End-user (Automotive, Healthcare, BFSI, Education, Government Services, Retail, Military And Defense And Others), By Geography, Industry Competition & Player Profiles, 2023 – 2032
Speech and voice recognition is a hardware or software that decode human voice into digital form. Voice recognition is used to operate a device and perform commands as instructed. Increasing usage of voice and speech recognition solutions across the retail sector is driving the market demand. The voice ordering technology in-store is offering a personalized experience to their customers.
The market players have introduced answer engine optimization (AEO) and search engine optimization (SEO) for voice or speech order. The speech and voice recognition allows users to save payment details across Google platforms to fast track the shopping experience. Retailers such as Walmart, Home Depot, Target, and PetSmart amongst others have collaborated with Google to allow consumers to shop using Google Assistant.
Rising adoption of speech and voice-enabled transcribing clinical notes and voice-enabled EMRs is propelling the speech and voice recognition market. The voice recognition technology will aid doctors to enter data verbally rather than writing that will increase the productivity of the doctors.
The speech and voice recognition technology will reduce medical errors improving the reliability and accuracy of electronic health records. The market players are partnering with hospitals, ambulatory care units, and pharmacies to enhance the treatment experience. This has intensified the competition in the market and is expected to contribute towards the growth of the global speech and voice recognition market during the forecast period.
North America contributed a dominating share to the global Speech and Voice Recognition market in terms of revenue and volume in 2019 and is expected to be dominating geography throughout the forecast period. Rising number of technically advanced offices equipped with biometric and voice-assisted systems to ensure a high level of security across the region is fueling the growth of the speech and voice recognition market.
The BFSI organizations are using speech and voice recognition to advance their security level to minimize fraudulent cases. Asia Pacific region is accelerating the adoption of speech and voice recognition systems across various sectors that includes BFSI, healthcare, automotive, e-commerce, education, and hospitality amongst others. The public authorities are investing in the development of AI integrated speech and voice-assisted technologies.
The government authorities along with the private players are investing in the transformation of connected cars and the manufacturing of smart consumer electronics. Furthermore, increasing demand for smart appliances equipped with speech and voice-controlled technology will create new market opportunities in the forecast timeline.
Major players active in the Speech and Voice Recognition market include IBM Corporation, Apple, Inc., Nuance Communications, Sestek, Google LLC, Amazon.com, Inc., iFlytek, Baidu, Microsoft Corporation, LumenVox LLC, Sensory, Inc., and Dolbey Systems, Inc.
Segmentation:
By Function:
- Speech Recognition
- Voice Recognition
By Technology:
- Artificial Intelligence
- Non-artificial Intelligence
By End-user:
- Automotive
- Healthcare
- BFSI
- Education
- Government Services
- Retail
- Military And Defense
- Others
By Geography :
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Belgium
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
- Introduction
- Research Objectives
- Report Assumptions
- Research Methodology
- Abbreviations
- Preface
- Market Definition
- Report Scope and Market Segmentation
- Research Highlights
- Market Synopsis: Global Speech & Voice Recognition Market
- Global Speech & Voice Recognition Market Qualitative Analysis
- Trends
- Market trends
- Technology Trends
- PESTLE Analysis (For 5 prominent countries)
- Market Influencers
- Driving Forces
- Hindering Forces
- Opportunities
- Technology Evolution
- Artificial Intelligence as a game changer
- COVID-19 – demand impact
- Trends
- Global Speech & Voice Recognition Market Analysis and Forecast, by Function
- Overview and definitions
- Key segment analysis
- Global Speech & Voice Recognition Market Estimates (US$ Mn), by Function, 2019 – 2032
- Speech recognition
- Voice recognition
- Global Speech & Voice Recognition Market Analysis and Forecast, by Technology
- Overview and definitions
- Key segment analysis
- Global Speech & Voice Recognition Market Estimates (US$ Mn), Technology, 2019 – 2032
- Artificial Intelligence based
- Non-Artificial Intelligence based
- Global Speech & Voice Recognition Market Analysis and Forecast, by Application
- Overview and definitions
- Key segment analysis
- Global Speech & Voice Recognition Market Estimates (US$ Mn), Application, 2019 – 2032
- Automotive
- BFSI
- Healthcare
- Education
- Military
- Legal
- Others
- Global Speech & Voice Recognition Market Analysis and Forecast, by Region
- Overview and definitions
- Key segment analysis
- Global Speech & Voice Recognition Market Estimates (US$ Mn), by Region, 2019 – 2032
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America Speech & Voice Recognition Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- North America Speech & Voice Recognition Market Estimates (US$ Mn), by Function, 2019 – 2032
- Speech recognition
- Voice recognition
- North America Speech & Voice Recognition Market Estimates (US$ Mn), Technology, 2019 – 2032
- Artificial Intelligence based
- Non-Artificial Intelligence based
- North America Speech & Voice Recognition Market Estimates (US$ Mn), Application, 2019 – 2032
- Automotive
- BFSI
- Healthcare
- Education
- Military
- Legal
- Others
- North America Speech & Voice Recognition Market Estimates (US$ Mn), Country, 2019 – 2032
- United States
- Canada
- Rest of North America
- Europe Speech & Voice Recognition Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Europe Speech & Voice Recognition Market Estimates (US$ Mn), by Function, 2019 – 2032
- Speech recognition
- Voice recognition
- Europe Speech & Voice Recognition Market Estimates (US$ Mn), Technology, 2019 – 2032
- Artificial Intelligence based
- Non-Artificial Intelligence based
- Europe Speech & Voice Recognition Market Estimates (US$ Mn), Application, 2019 – 2032
- Automotive
- BFSI
- Healthcare
- Education
- Military
- Legal
- Others
- Europe Speech & Voice Recognition Market Estimates (US$ Mn), Country, 2019 – 2032
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific Speech & Voice Recognition Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Asia Pacific Speech & Voice Recognition Market Estimates (US$ Mn), by Function, 2019 – 2032
- Speech recognition
- Voice recognition
- Asia Pacific Speech & Voice Recognition Market Estimates (US$ Mn), Technology, 2019 – 2032
- Artificial Intelligence based
- Non-Artificial Intelligence based
- Asia Pacific Speech & Voice Recognition Market Estimates (US$ Mn), Application, 2019 – 2032
- Automotive
- BFSI
- Healthcare
- Education
- Military
- Legal
- Others
- Asia Pacific Speech & Voice Recognition Market Estimates (US$ Mn), Country, 2019 – 2032
- Japan
- India
- China
- South Korea
- Australia
- Rest of Asia Pacific
- Middle East & Africa Speech & Voice Recognition Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Middle East & Africa Speech & Voice Recognition Market Estimates (US$ Mn), by Function, 2019 – 2032
- Speech recognition
- Voice recognition
- Middle East & Africa Speech & Voice Recognition Market Estimates (US$ Mn), Technology, 2019 – 2032
- Artificial Intelligence based
- Non-Artificial Intelligence based
- Middle East & Africa Speech & Voice Recognition Market Estimates (US$ Mn), Application, 2019 – 2032
- Automotive
- BFSI
- Healthcare
- Education
- Military
- Legal
- Others
- Middle East & Africa Speech & Voice Recognition Market Estimates (US$ Mn), Country, 2019 – 2032
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East
- South America Speech & Voice Recognition Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- South America Speech & Voice Recognition Market Estimates (US$ Mn), by Function, 2019 – 2032
- Speech recognition
- Voice recognition
- South America Speech & Voice Recognition Market Estimates (US$ Mn), Technology, 2019 – 2032
- Artificial Intelligence based
- Non-Artificial Intelligence based
- South America Speech & Voice Recognition Market Estimates (US$ Mn), Application, 2019 – 2032
- Automotive
- BFSI
- Healthcare
- Education
- Military
- Legal
- Others
- South America Speech & Voice Recognition Market Estimates (US$ Mn), Country, 2019 – 2032
- Brazil
- Rest of South America
- Competition Analysis – Speech & Voice Recognition Market
- Market Composition
- Market Share Analysis (%), by Manufacturer (2022)
- Company Profiles
- IBM Corporation
- Business overview
- Geographic presence
- Product portfolio
- Financial facts
- Relevant news and strategic view
- Apple, Inc.
- Nuance Communications
- Sestek
- Google LLC
- com, Inc.
- DefinedCrowd
- iFlytek
- Baidu
- Chiron Health
- Microsoft Corporation
- LumenVox LLC
- Sensory, Inc
- Dolbey Systems, Inc.
- IBM Corporation
- Conclusion & Recommendations
Frequently asked questions about this report
What are the factors driving the speech and voice recognition market?
Rising adoption of speech and voice-enabled transcribing clinical notes and voice-enabled EMRs is propelling the speech and voice recognition market.
How is the regional performance of the market?
North America contributed a dominating share to the global speech and voice recognition market in terms of revenue and volume and is expected to be dominating geography throughout the forecast period.
What are the different technology of speech and voice recognition used?
Based on technology, the speech and voice recognition market is segmented into Artificial Intelligence and Non-artificial Intelligence.
What are the top players active in the speech and voice recognition Market?
The major active players are IBM Corporation, Apple, Inc., Nuance Communications, Sestek, Google LLC, Amazon.com, Inc., iFlytek, Baidu, Microsoft Corporation, LumenVox LLC, Sensory, Inc., and Dolbey Systems, Inc.
How can I get a sample report for the speech and voice recognition market?
The sample report for the speech and voice recognition Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.