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The global speech and voice recognition market size is expected to grow to USD 31.49 billion by 2026 according to a new report published by Polaris Market Research – PowerPoint PPT presentation

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Voice and Speech Recognition MarketSet to Exceed
31.49 Billion By 2026 CAGR 18.3
  • Voice and Speech Recognition Market Share, Size,
    Trends, Industry Analysis Report By Component
    (Hardware, Software, Services) By Interface
    (AI-Based, Non-AI Based) By End-User
    (Automotive, Healthcare, BFSI, Consumer, Retail,
    Government, Home security Automation, Others)
    By Regions, Segments Forecast, 2019 2026

Voice and Speech Recognition Market Estimate
Forecast to 2026
The global speech and voice recognition
market size is expected to grow to USD 31.49
billion by 2026 according to a new report
published by Polaris Market Research.  In 2018,
the non AI-based voice and speech recognition
segment dominated the global market in terms of
revenue. North America is expected to be the
leading contributor to global market revenue
during forecast period. A currently moving demand
for virtual assistants at homes and enterprises
supports the growth of this market. A growing
need for automation in customer service and
integration of virtual assistants with smart home
appliances (digital homes) drive the growth of
market. A need to streamline enterprise
communication to improve productivity further
supports market growth. Other driving factors
include increased use in automobiles, mobile
banking applications and Electronic health record
applications (EHR). The increasing use in
biometric applications for user voice
authentication would boost market growth during
forecast period. A surging demand from emerging
economies and technological advancements are
factors expected to provide several growth
opportunities in coming years.   An upward
interest shone through in cars sector and
expanding modernization of vehicles drove
showcase development. The thought process being
voice acknowledgements diminish mistakes
enhancing market effectiveness. IT has been
foreseen that half of ventures will be voice
essays by 2020.  An increasing number of data
lapses such as security attacks give reasonable
credence to voice recognition systems that are
more reliable authentication methods. Growing
number of security concerns drive market.
Voice and Speech Recognition Market Scope
By Component By Interface By End -User By Region
Hardware Software Services AI-Based Non-AI Based Automotive Healthcare BFSI Consumer Retail Government Home security Automation Others North America (U.S., Canada) Europe (UK, France, Germany, Italy) Asia Pacific (India, China, Japan) Latin America (Mexico, Brazil) Middle East Africa
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Voice and Speech Recognition Market Estimate
Forecast to 2026
North America came up with highest revenue in the
market in 2017 and is anticipated to lead market
gains through the forecast period. Use of
intelligent virtual assistants to replace
traditional interactive response systems has
boosted market growth in the region. Use of
intelligent virtual assistants is proving
effective by enhancing customer and brand
experience providing a consumer-friendly
environment. The presence of established telecom
and cloud infrastructure in the region and
growing trend of BYOD drive the market growth in
the region. The demand for voice recognition
systems has grown significantly in BFSI and
healthcare sectors in the regions. Increased
adoption of smart homes and smart buildings would
provide opportunities for market during forecast
period. Access Research Report On Voice and
Speech Recognition Market   The companies in the
speech and voice recognition market include
Google, Inc., Baidu, Inc., Facebook, Inc.,, Inc., Advanced Voice Recognition
Systems, Inc., Apple, Inc., IBM Corporation,
Microsoft Corporation, Briana soft, VoiceBox
Technologies, Fulcrum Biometrics,
Neurotechnology, M2SYS Biometrics, Sensory Inc.,
Voice Base, INc., Agnitio Corp., Auraya Systems,
VoiceTrust and Nuance Communications.
Voice and Speech Recognition Market Size By
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Voice and Speech Recognition Market Study
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About Us
Polaris Market Research is a global market
research and consulting company. The company
specializes in providing exceptional market
intelligence and in-depth business research
services for our clientele spread across
different enterprises. We at Polaris are obliged
to e present across the industries of healthcare,
technology, semi-conductors and chemicals among
various other industries present around the
world. We strive to provide our customers with
updated information on innovative technologies,
high growth markets, emerging business
environments and latest business-centric
applications, thereby helping them always to make
informed decisions and leverage new
opportunities. Adept with a highly competent,
experienced and extremely qualified team of
experts comprising SMEs, analysts and
consultants, we at Polaris endeavor to deliver
value-added business solutions to our
customers.   Web Of
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