Global Voice and Speech Recognition Market Report By Technology (Speech Recognition And Voice Recognition), Application (Artificial Intelligence And Non-Artificial Intelligence), End User (Automotive, Enterprise, Finance, Consumer, Government, Retail, Healthcare, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2028

Name: Global Voice and Speech Recognition Market Report
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ID:VMR11210475

April 2021

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Voice and Speech Recognition is the next evolution of human-machine interaction. The technology is gaining robust popularity due to greater convenience, simplified tasks, and lack of touch capabilities. The capabilities of Voice and Speech Recognition are continuously extending with the rising R&D in the technology.

Global Voice and Speech Recognition Market Share
VOICE RECOGNITION ACCOUNTED FOR LARGEST SHARE OF OVER 50% IN 2020.
Voice recognition is increasingly being used in daily life and has potentially revolutionized the interactions with digital devices. It is commonly used to operate a device, perform commands, or write without using a keyboard, mouse, or press any buttons. Voice recognition serves as a virtual assistant on a phone, smart speaker, or at the workplace and provides enhanced security with voice biometry. Players are robustly bringing new products driven by voice assistants. The growing trend of smart homes and the smart industry is foreseen to present new opportunities.

AI-BASED SEGMENT IS EXPECTED TO GROW AT RAPID PACE
The Artificial Intelligence-based segment will show exciting progress during the forecast period. The application area of AI in Voice and Speech Recognition is immense. Artificial Intelligence is an exciting and evolving field of study and innovation in Voice and Speech Recognition. It continually improves and advances the new generation of smart home devices that offer more connectivity and more intelligent design. There is also ample space for AI-based Voice and Speech Recognition in industries where speed and convenience are crucial.

NORTH AMERICA DOMINATED THE MARKET WITH OVER 35.0% OF THE OVERALL REVENUE.
North America leads in the advanced technology sector. The region is the foremost in implementing Voice and Speech Recognition systems. It is widely used across the region to enhance interaction with devices and improve safety measures and security. North America is blessed with the presence of prominent players. Players invest the most in the launch and R&D of new devices.

PROMINENT PLAYERS IN THE MARKET:
Advanced Voice Recognition Systems, Inc., Agnitio SL, Biotrust ID B.V., Lumenvox, LLC, M2SYS LLC, Microsoft Corporation, Mmodal Inc., Nuance Communications Inc., Raytheon BBN Technologies, Sensory, Inc., Validsoft UK Limited, Voicebox Technologies Corp., Voicevault Inc.

The global Voice and Speech Recognition market size is estimated to grow at a CAGR of 15% during the forecast period.

Voice recognition is a technique in computing technology by which a specialized software system is created to identify, distinguish and authenticate the voice of an individual. It evaluates the voice biometrics of an individual, such as flow and natural accent. Speech recognition technology is a process of converting spoken words into the digital data and stored set of words with voice receiving devices such as microphones and telephones. Voice and speech recognition techniques are widely used in Artificial Intelligence (AI) and in navigation systems.

Market Dynamics

The increasing use of artificial intelligence (AI) technology owing to their ability to voice and speech recognition in various devices coupled with growing demand for virtual assistants is fueling the market growth of global voice and speech recognition market. Furthermore, increasing demand for voice-driven navigation systems and surging use of voice biometrics is also propelling the market growth. However, the lack of accuracy in identification and improper coding in a software program can restrain the market of voice and speech recognition. Whereas, technological developments with rising adoptions of electronic devices are expected to stimulate market growth over the forecast period.

This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of voice and speech recognition.

Market Segmentation

The broad voice and speech recognition market has been sub-grouped into technology, application, and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.

By Technology

Speech Recognition
Voice Recognition

By Application

Artificial Intelligence
Non-Artificial Intelligence

By End User

Regional Analysis

Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for voice and speech recognition in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.

Global Voice and Speech Recognition Market Share by Region (Representative Graph)

The report also covers a detailed competitive landscape including company profiles of key players operating in the global market. The key players in the voice and speech recognition market includes Advanced Voice Recognition Systems, Inc., Agnitio SL, Biotrust ID B.V., Lumenvox, LLC, M2SYS LLC, Microsoft Corporation, Mmodal Inc., Nuance Communications Inc., Raytheon BBN Technologies, Sensory, Inc., Validsoft UK Limited, Voicebox Technologies Corp., Voicevault Inc. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.

METHODOLOGY:

A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.

If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization

1 . PREFACE
       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology

2 . EXECUTIVE SUMMARY
       2.1. Highlights of Market
       2.2. Global Market Snapshot

3 . VOICE AND SPEECH RECOGNITION – INDUSTRY ANALYSIS
       3.1. Introduction - Market Dynamics
       3.2. Market Drivers
       3.3. Market Restraints
       3.4. Opportunities
       3.5. Industry Trends
       3.6. Porter’s Five Force Analysis
       3.7. Market Attractiveness Analysis
           3.7.1 By Technology
           3.7.2 By Application
           3.7.3 By End User
           3.7.4 By Region

4 . VALUE CHAIN ANALYSIS
       4.1. Value Chain Analysis
       4.2. Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Raw Material Manufactures List
           4.2.3. Price Trend of Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend

5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
       5.1. Impact Analysis of Covid-19 Outbreak
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
       5.5. COVID-19: Micro and Macro Factor Analysis

6 . GLOBAL VOICE AND SPEECH RECOGNITION MARKET ANALYSIS BY TECHNOLOGY
       6.1 Overview by Technology
       6.2 Historical and Forecast Data
       6.3 Analysis by Technology
       6.4 Speech Recognition Market by Regions
       6.5 Voice Recognition Market by Regions

7 . GLOBAL VOICE AND SPEECH RECOGNITION MARKET ANALYSIS BY APPLICATION
       7.1 Overview by Application
       7.2 Historical and Forecast Data
       7.3 Analysis by Application
       7.4 Artificial Intelligence Market by Regions
       7.5 Non-Artificial Intelligence Market by Regions

8 . GLOBAL VOICE AND SPEECH RECOGNITION MARKET ANALYSIS BY END USER
       8.1 Overview by End User
       8.2 Historical and Forecast Data
       8.3 Analysis by End User
       8.4 Automotive Market by Regions
       8.5 Enterprise Market by Regions
       8.6 Finance Market by Regions
       8.7 Consumer Market by Regions
       8.8 Government Market by Regions
       8.9 Retail Market by Regions
       8.10. Healthcare Market by Regions
       8.11 Others Market by Regions

9 . GLOBAL VOICE AND SPEECH RECOGNITION MARKET ANALYSIS BY GEOGRAPHY
       9.1. Regional Outlook
       9.2. Introduction
       9.3. North America
           9.3.1. Overview, Historic and Forecast Data
           9.3.2. North America By Segment
           9.3.3. North America By Country
           9.3.4. United State
           9.3.5. Canada
           9.3.6. Mexico
       9.4. Europe
           9.4.1. Overview, Historic and Forecast Data
           9.4.2. Europe by Segment
           9.4.3. Europe by Country
           9.4.4. United Kingdom
           9.4.5. France
           9.4.6. Germany
           9.4.7. Italy
           9.4.8. Russia
           9.4.9. Rest Of Europe
       9.5. Asia Pacific
           9.5.1. Overview, Historic and Forecast Data
           9.5.2. Asia Pacific by Segment
           9.5.3. Asia Pacific by Country
           9.5.4. China
           9.5.5. India
           9.5.6. Japan
           9.5.7. South Korea
           9.5.8. Australia
           9.5.9. Rest Of Asia Pacific
       9.6. Latin America
           9.6.1. Overview, Historic and Forecast Data
           9.6.2. Latin America by Segment
           9.6.3. Latin America by Country
           9.6.4. Brazil
           9.6.5. Argentina
           9.6.6. Peru
           9.6.7. Chile
           9.6.8. Rest of Latin America
       9.7. Middle East & Africa
           9.7.1. Overview, Historic and Forecast Data
           9.7.2. Middle East & Africa by Segment
           9.7.3. Middle East & Africa by Country
           9.7.4. Saudi Arabia
           9.7.5. UAE
           9.7.6. Israel
           9.7.7. South Africa
           9.7.8. Rest Of Middle East And Africa

10 . COMPETITIVE LANDSCAPE OF THE VOICE AND SPEECH RECOGNITION COMPANIES
       10.1. Voice And Speech Recognition Market Competition
       10.2. Partnership/Collaboration/Agreement
       10.3. Merger And Acquisitions
       10.4. New Product Launch
       10.5. Other Developments

11 . COMPANY PROFILES OF VOICE AND SPEECH RECOGNITION INDUSTRY
       11.1. Company Share Analysis
       11.2. Market Concentration Rate
       11.3. Advanced Voice Recognition Systems, Inc.
           11.3.1. Company Overview
           11.3.2. Financials
           11.3.3. Products
           11.3.4. Recent Developments
       11.4. Agnitio SL
           11.4.1. Company Overview
           11.4.2. Financials
           11.4.3. Products
           11.4.4. Recent Developments
       11.5. Biotrust ID B.V.
           11.5.1. Company Overview
           11.5.2. Financials
           11.5.3. Products
           11.5.4. Recent Developments
       11.6. Lumenvox
           11.6.1. Company Overview
           11.6.2. Financials
           11.6.3. Products
           11.6.4. Recent Developments
       11.7. LLC
           11.7.1. Company Overview
           11.7.2. Financials
           11.7.3. Products
           11.7.4. Recent Developments
       11.8. M2SYS LLC
           11.8.1. Company Overview
           11.8.2. Financials
           11.8.3. Products
           11.8.4. Recent Developments
       11.9. Microsoft Corporation
           11.9.1. Company Overview
           11.9.2. Financials
           11.9.3. Products
           11.9.4. Recent Developments
       11.10. Mmodal Inc.
           11.10.1. Company Overview
           11.10.2. Financials
           11.10.3. Products
           11.10.4. Recent Developments
       11.11. Nuance Communications Inc.
           11.11.1. Company Overview
           11.11.2. Financials
           11.11.3. Products
           11.11.4. Recent Developments
       11.12. Raytheon BBN Technologies
           11.12.1. Company Overview
           11.12.2. Financials
           11.12.3. Products
           11.12.4. Recent Developments
       11.13. Sensory, Inc.
           11.13.1. Company Overview
           11.13.2. Financials
           11.13.3. Products
           11.13.4. Recent Developments
       11.14. Validsoft UK Limited
           11.14.1. Company Overview
           11.14.2. Financials
           11.14.3. Products
           11.14.4. Recent Developments
       11.15. Voicebox Technologies Corp.
           11.15.1. Company Overview
           11.15.2. Financials
           11.15.3. Products
           11.15.4. Recent Developments
       11.16. Voicevault Inc.
           11.16.1. Company Overview
          11.16.2. Financials
           11.16.3. Products
           11.16.4. Recent Developments

*Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies

LIST OF TABLES

LIST OF FIGURES

Research Scope of Voice And Speech Recognition Report
Market Research Process
Market Research Methodology
Global Voice And Speech Recognition Market Size, by Region (USD MN)
Porters Five Forces Analysis
Market Attractiveness Analysis by Technology
Market Attractiveness Analysis by Application
Market Attractiveness Analysis by End User
Market Attractiveness Analysis by Region
Value Chain Analysis
Global Market Analysis by Technology (USD MN)
Speech Recognition Market by Geography (USD MN)
Voice Recognition Market by Geography (USD MN)
Global Market Analysis by Application (USD MN)
Artificial Intelligence Market by Geography (USD MN)
Non-Artificial Intelligence Market by Geography (USD MN)
Global Market Analysis by End User (USD MN)
Automotive Market by Geography (USD MN)
Enterprise Market by Geography (USD MN)
Finance Market by Geography (USD MN)
Consumer Market by Geography (USD MN)
Government Market by Geography (USD MN)
Retail Market by Geography (USD MN)
Healthcare Market by Geography (USD MN)
Others Market by Geography (USD MN)
Global Market by Revenue
North America Market by Revenue
Europe Market by Revenue
Asia Pacific Market by Revenue
Latin America Market by Revenue
Middle East & Africa Market by Revenue
Recent Development in Industry
Company Market Share Analysis

* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.

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Objectives of Study

Define and measure the global market
Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
Analyze and identify major market trends along with the factors driving or inhibiting the market growth
Study the company profiles of the major market players with their market share
Analyze competitive developments

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