"Speech and Voice Recognition Market by Technology (Speech and Voice Recognition), Vertical (Automotive, Consumer, Government, Enterprise, Healthcare, BFSI), Deployment (On Cloud & On-Premises/Embedded), and Geography - Global Forecast to 2024", the market is expected to grow from USD 7.5 billion in 2018 to USD 21.5 billion by 2024, at a CAGR of 19.18%. The growth of the speech and voice recognition market can be attributed to the high growth potential in healthcare application, growing demand for voice authentication in mobile banking application, rapid proliferation of multifunctional devices or smart speakers, and growing impact of AI on the accuracy of speech and voice recognition. Moreover, the development of speech and voice recognition software for micro-linguistics and local languages, use of speech and voice recognition technology in the education of temporarily and permanently disabled students, and role of speech and voice recognition technology in autonomous cars are expected to create huge growth opportunities for the players in the speech and voice recognition market.
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• Speech and voice recognition market for consumer vertical to grow at highest rate during forecast period
• Automatic speech recognition segment dominated the global speech recognition market throughout the forecast period
• Americas to hold largest size of speech and voice recognition market by 2024
Major players in the speech and voice recognition market covered in this report are Nuance (US), Microsoft (US), Alphabet (US), IBM (US), Amazon (US), Sensory (US), Cantab Research (UK), iflytek (China), Baidu (China), and Raytheon BBN Technologies (US). Know more ask for Sample pages of Report : https://www.marketsandmarkets.com/requestsampleNew.asp?id=202401714
Browse 74 market data Tables and 47 Figures spread through 161 Pages and in-depth TOC on "Speech and Voice Recognition Market - Global Forecast to 2024"
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