The global speech and speech recognition market size was valued at $9.12 billion in 2017. It is expected to expand to a CAGR of 17% over the forecast period. Advances in technology, along with increasing adoption of advanced electronic devices, are expected to stimulate the growth of the market during the forecast period. Used for security purposes, speech recognition biometrics helps to provide access to authenticated users to conduct transactions. The proliferation of voice biometrics is a key factor driving the market.
The growing demand for voice-based navigation systems and workstations is fueling the growth of the hardware and software sector. The integration of infotainment systems in voice-enabled vehicles is gaining popularity around the world as several countries initiate “hands-free” regulations governing the use of mobile phones while driving.
A full report of Speech And Voice Recognition Market available at https://www.orionmarketreports.com/voice-and-speech-recognition-market/10819/
Major Market Players of Speech Recognition Market
• Nuance Communications, Inc. (U.S.)
• Microsoft Corporation (U.S.)
• Agnitio SL (Spain)
• VoiceVault (U.S.)
• VoiceBox Technologies Corp. (U.S.)
• Google Inc. (U.S.)
• LumenVox LLC. (U.S)
• Raytheon BBN Technologies (U.S.)
• Advanced Voice Recognition Systems (U.S.)
• Sensory, Inc. (U.S.)
• ReadSpeaker Holding B.V. (Netherlands)
• Iflytek Co., Ltd. (China)
• Acapela Group SA (Belgium)
• AT&T Inc. (U.S.)
• Fluent.ai Inc. (Canada)
Speech And Voice Recognition Market- Segmentation
By Delivery Methods
• Artificial Intelligence Based
• Non-artificial Intelligence Based
By Technology
• Voice Recognition
• Speech Recognition
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
