Speech and Voice Recognition Market by Deployment Mode (On-Cloud, On-Premises/Embedded), Technology (Speech Recognition, Voice Recognition), Vertical and Geography (Americas, Europe, Asia Pacific, Rest of the World) - Global Forecast to 2027
The global speech and voice recognition market size is projected to grow from USD 9.4 Billion in 2022 to USD 28.1 Billion by 2027, it is expected to grow at a CAGR of 24.4% from 2022 to 2027. The key factors contributing to the growth of the speech and voice recognition market include increasing demand in healthcare for improving efficiency and the growing use of smart appliances.Speech and voice recognition technologies are mostly used in the healthcare sector to report health checkups, data entry, and when the doctor or the attendant/nurse is unavailable. Such software solutions enable healthcare professionals to enter notes into the electric health record (EHR) system or their computers without taking time out from patient care and remain productive throughout the day. This eliminates the need for healthcare providers to stay late at work to complete paperwork, allowing them to visit more patients during the day. Easy to use and hands-free features of an automated speech recognition system in medical applications enable doctors to get their work done efficiently, driving the speech and voice recognition market growth.
Extensive penetration of speech and voice recognition technologies in smart appliances
The demand for smart homes and smart appliances is increasing owing to various factors, including the growing internet penetration, rapid technological advancements, and increased focus on home automation to achieve security and convenience. The COVID-19 pandemic has also prompted the use of smart devices and appliances in almost every aspect of daily life. People are encouraged to work from home, leading to high demand for speech and voice recognition technology-based products.
Manufacturers of smart appliances are adding the voice recognition feature to their products to enable users to control all their appliances from a single speech and voice recognition technology-based product. The demand for products such as Alexa, Cortana, and Siri, has increased significantly. Samsung Electronics (South Korea), a leading manufacturer of smart appliances, has introduced the Smart Things app with inbuilt voice recognition technology to allow users to control all the appliances in the house with single voice commands. Several other manufacturers, such as Whirlpool and Philips, have similar voice-activated control solutions. As consumers move toward automation, the demand for speech and voice recognition technology-based products is also likely to increase.
APAC is the fastest-growing region in theSPEECH AND VOICE RECOGNITION market
The speech and voice recognition market in Asia Pacific is expected to grow at the highest CAGR from 2022 to 2027 owing to technological advancements, improved awareness regarding the benefits of these technologies among the masses, and the low cost of speech and voice recognition devices. China, Japan, and India are the key countries in the Asia Pacific region for the speech and voice recognition market. Baidu (China) and iFlytek (China) are the top two companies in the region operating in the speech and recognition market.
The breakup of primaries conducted during the study is depicted below:
The report segments the speech and voice recognitionmarket and forecasts its size, by volume and value, based on region (Americas, Europe, Asia Pacific, and RoW), Deployment Mode (On-Cloud, On-Premises/Embedded), Technology (Speech Recognition, Voice Recognition),andVerticals (automotive, enterprise, consumer, banking, financial services, and insurance (BFSI), government, retail, healthcare, military, legal, education, and others (aerospace, utilities, and travel & tourism)). The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the speech and voice recognitionmarket. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying ThisReport
1 This report includes market statistics pertaining to thedeployment mode, technology, verticals, and region.
2 An in-depth value chain analysis has been done to provide deep insight into thespeech and voice recognitionmarket.
3 Major market drivers, restraints, challenges, and opportunities have been detailed in this report.
4 Illustrative segmentation, analyses, and forecasts for the market basedon deployment mode, technology,verticals,and regionhave been conducted to providean overall view of thespeech and voice recognition market.
5 The report includes an in-depth analysis and ranking of key players.
Extensive penetration of speech and voice recognition technologies in smart appliances
The demand for smart homes and smart appliances is increasing owing to various factors, including the growing internet penetration, rapid technological advancements, and increased focus on home automation to achieve security and convenience. The COVID-19 pandemic has also prompted the use of smart devices and appliances in almost every aspect of daily life. People are encouraged to work from home, leading to high demand for speech and voice recognition technology-based products.
Manufacturers of smart appliances are adding the voice recognition feature to their products to enable users to control all their appliances from a single speech and voice recognition technology-based product. The demand for products such as Alexa, Cortana, and Siri, has increased significantly. Samsung Electronics (South Korea), a leading manufacturer of smart appliances, has introduced the Smart Things app with inbuilt voice recognition technology to allow users to control all the appliances in the house with single voice commands. Several other manufacturers, such as Whirlpool and Philips, have similar voice-activated control solutions. As consumers move toward automation, the demand for speech and voice recognition technology-based products is also likely to increase.
APAC is the fastest-growing region in theSPEECH AND VOICE RECOGNITION market
The speech and voice recognition market in Asia Pacific is expected to grow at the highest CAGR from 2022 to 2027 owing to technological advancements, improved awareness regarding the benefits of these technologies among the masses, and the low cost of speech and voice recognition devices. China, Japan, and India are the key countries in the Asia Pacific region for the speech and voice recognition market. Baidu (China) and iFlytek (China) are the top two companies in the region operating in the speech and recognition market.
The breakup of primaries conducted during the study is depicted below:
- By Company Type: Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 –20%
- By Designation: C-Level Executives – 35%,Directors – 25%, and Others – 40%
- By Region: North America– 45%, Europe – 20%, APAC– 30%, Rest of world–5%
The report segments the speech and voice recognitionmarket and forecasts its size, by volume and value, based on region (Americas, Europe, Asia Pacific, and RoW), Deployment Mode (On-Cloud, On-Premises/Embedded), Technology (Speech Recognition, Voice Recognition),andVerticals (automotive, enterprise, consumer, banking, financial services, and insurance (BFSI), government, retail, healthcare, military, legal, education, and others (aerospace, utilities, and travel & tourism)). The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the speech and voice recognitionmarket. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying ThisReport
1 This report includes market statistics pertaining to thedeployment mode, technology, verticals, and region.
2 An in-depth value chain analysis has been done to provide deep insight into thespeech and voice recognitionmarket.
3 Major market drivers, restraints, challenges, and opportunities have been detailed in this report.
4 Illustrative segmentation, analyses, and forecasts for the market basedon deployment mode, technology,verticals,and regionhave been conducted to providean overall view of thespeech and voice recognition market.
5 The report includes an in-depth analysis and ranking of key players.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 SUMMARY OF CHANGES
1.4 STUDY SCOPE
1.4.1 MARKETS COVERED
1.4.2 GEOGRAPHIC SCOPE
1.4.3 YEARS CONSIDERED
1.5 CURRENCY
1.6 LIMITATIONS
1.7 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 PROCESS FLOW: SPEECH AND VOICE RECOGNITION
MARKET SIZE ESTIMATION
FIGURE 2 SPEECH AND VOICE RECOGNITION MARKET: RESEARCH DESIGN
2.1.1 SECONDARY AND PRIMARY RESEARCH
FIGURE 3 RESEARCH APPROACH
2.1.2 SECONDARY DATA
2.1.2.1 Secondary sources
2.1.2.2 Key secondary sources
2.1.3 PRIMARY DATA
2.1.3.1 Primary sources
2.1.3.2 Key industry insights
2.1.3.3 Primary interview breakup
2.1.3.4 List of key primary respondents
2.1.3.5 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for arriving at market size by bottom-up analysis
FIGURE 4 SPEECH AND VOICE RECOGNITION MARKET: BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for capturing market size by top-down analysis
FIGURE 5 SPEECH AND VOICE RECOGNITION MARKET: TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 6 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 LIMITATIONS
2.6 RISK ASSESSMENT
TABLE 1 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
3.1 SPEECH AND VOICE RECOGNITION MARKET: POST-COVID-19
FIGURE 7 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET
FIGURE 8 SPEECH RECOGNITION TO ACCOUNT FOR LARGER MARKET SHARE THROUGHOUT FORECAST PERIOD
FIGURE 9 ON-CLOUD DEPLOYMENT MODE TO DOMINATE SPEECH AND VOICE RECOGNITION MARKET DURING FORECAST PERIOD
FIGURE 10 CONSUMER VERTICAL TO DOMINATE SPEECH AND VOICE RECOGNITION MARKET BETWEEN 2022 AND 2027
FIGURE 11 AMERICAS HELD LARGEST MARKET SHARE IN 2021
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN SPEECH AND VOICE RECOGNITION MARKET
FIGURE 12 INCREASING DEMAND FOR SPEECH AND VOICE RECOGNITION TECHNOLOGY-BASED PRODUCTS IN ASIA PACIFIC TO DRIVE MARKET GROWTH
4.2 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY
FIGURE 13 SPEECH RECOGNITION TECHNOLOGY TO ACCOUNT FOR LARGER MARKET SHARE THAN VOICE RECOGNITION TECHNOLOGY DURING FORECAST PERIOD
4.3 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE
FIGURE 14 ON-CLOUD SEGMENT TO COMMAND SPEECH AND VOICE RECOGNITION MARKET IN 2022
4.4 SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS, BY REGION AND TECHNOLOGY
FIGURE 15 NORTH AMERICA AND SPEECH RECOGNITION TECHNOLOGY TO ACCOUNT FOR MAJORITY OF MARKET SHARE IN AMERICAS BY 2027
4.5 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL
FIGURE 16 CONSUMER VERTICAL TO EXHIBIT HIGHEST CAGR FROM 2022 TO 2027
4.6 SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY (2021)
FIGURE 17 INDIA TO EXHIBIT HIGHEST CAGR IN GLOBAL SPEECH AND VOICE RECOGNITION MARKET FROM 2022 TO 2027
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Escalated use of speech and voice recognition software by healthcare professionals
5.2.1.2 Extensive penetration of speech and voice recognition technologies in smart appliances
FIGURE 19 SALES DATA FOR VOICE ASSISTANT DEVICES OFFERED BY KEY BRANDS, 2020
5.2.1.3 Elevated demand for speech and voice recognition technologies to transcribe audio
5.2.1.4 Strong requirement for voice-based biometric systems, especially by financial service providers, for multifactor authentication and mobile banking applications
FIGURE 20 USE OF VOICE RECOGNITION TO PREVENT IDENTITY THEFT IN BANKING AND FINANCE
FIGURE 21 DATA BREACH COMPLAINTS IN US (2018–2020)
5.2.1.5 Successful integration of AI into speech and voice recognition systems to achieve more accurate results
FIGURE 22 DRIVERS FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT
5.2.2 RESTRAINTS
5.2.2.1 Limitation of software to understand contextual relation of words in different languages
5.2.2.2 Need for numerous channels in speech-to-text APIs while transcribing audio data that includes multiple channels
5.2.2.3 Limited capacity to recognize and respond to customer intent
5.2.2.4 Concerns regarding data privacy and security
5.2.2.5 High cost of high-end voice recognition systems deployed in automobiles
5.2.2.6 Requirement for huge investment keeps small players out
FIGURE 23 RESTRAINTS FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT
5.2.3 OPPORTUNITIES
5.2.3.1 Customer preference for cloud-based speech-to-text software
5.2.3.2 Increasing popularity of online shopping
5.2.3.3 Development of personalized applications for users
5.2.3.4 Integration of speech and voice recognition technology with mobile applications
5.2.3.5 Development of speech and voice recognition software for micro-linguistics and local languages
5.2.3.6 Application of speech and voice recognition in service robotics
5.2.3.7 Focus on utilizing speech and voice recognition technologies for educating disabled students
5.2.3.8 Deployment of speech and voice recognition technology in autonomous cars
5.2.3.9 Consumer preference for technologically advanced products
FIGURE 24 OPPORTUNITIES FOR SPEECH AND VOICE RECOGNITION MARKET
AND THEIR IMPACT
5.2.4 CHALLENGES
5.2.4.1 Creating unique vocabulary for various industries
5.2.4.2 Limited awareness regarding availability and benefits of voice assistant technologies
5.2.4.3 Increased errors due to background noise
5.2.4.4 Lack of standardized platform for development of customized products
5.2.4.5 Slow network speeds posing challenge to cloud-based speech recognition services
FIGURE 25 CHALLENGES FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT
5.3 VALUE CHAIN ANALYSIS
FIGURE 26 VALUE CHAIN ANALYSIS: SPEECH AND VOICE RECOGNITION MARKET
5.4 ECOSYSTEM
FIGURE 27 SPEECH AND VOICE RECOGNITION MARKET: ECOSYSTEM
TABLE 2 SPEECH AND VOICE RECOGNITION MARKET: ECOSYSTEM
5.4.1 REVENUE SHIFT IN SPEECH AND VOICE RECOGNITION MARKET
FIGURE 28 REVENUE SHIFT IN SPEECH AND VOICE RECOGNITION MARKET
5.5 PATENT ANALYSIS
TABLE 3 IMPORTANT PATENT REGISTRATIONS, 2017–2021
FIGURE 29 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS
FIGURE 30 ANNUAL NUMBER OF PATENTS GRANTED OVER LAST 10 YEARS
TABLE 4 TOP 10 PATENT OWNERS
5.6 TRADE ANALYSIS
TABLE 5 IMPORT STATISTICS: SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2017–2021 (USD THOUSAND)
TABLE 6 EXPORT STATISTICS: SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2017–2021 (USD THOUSAND)
5.7 TARIFF ANALYSIS
TABLE 7 TARIFF FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY NETHERLANDS IN 2020
TABLE 8 TARIFF FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY CHINA IN 2020
TABLE 9 TARIFF FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY UK IN 2020
TABLE 10 TARIFF FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY US IN 2020
TABLE 11 TARIFF FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY GERMANY IN 2020
5.8 CASE STUDY ANALYSIS
TABLE 12 SESTEK HELPS TEKNOSA TO INCREASE FIRST-CALL RESOLUTION RATE AND SHORTEN CALL DURATIONS AT CONTACT CENTER
TABLE 13 SESTEK HELPS AGENTS AT AL BARAKA BANK CONTACT CENTER TO SIGNIFICANTLY IMPROVE THEIR EFFICIENCY AND REDUCE WORKLOAD
TABLE 14 MICROSOFT TRANSLATOR APPLICATION FACILITATES MULTILINGUAL PARENT–TEACHER COMMUNICATION AT CHINOOK MIDDLE SCHOOL
TABLE 15 IBM WATSON HELPS BRADESCO BANK TO REDUCE RESPONSE TIME
TABLE 16 ALEXA HELPS HAWAII PACIFIC HEALTH TO ENHANCE PATIENT EXPERIENCE BY QUERY RESOLUTION
TABLE 17 CHATBOT BY ROANUZ ANSWERS USER QUERIES QUICKLY
5.9 PORTER'S FIVE FORCES ANALYSIS
TABLE 18 SPEECH AND VOICE RECOGNITION MARKET: PORTER'S FIVE FORCES ANALYSIS, 2020
5.9.1 THREAT OF NEW ENTRANTS
5.9.2 THREAT OF SUBSTITUTES
5.9.3 BARGAINING POWER OF BUYERS
5.9.4 BARGAINING POWER OF SUPPLIERS
5.9.5 INTENSITY OF RIVALRY
5.10 TECHNOLOGY ANALYSIS
5.10.1 MICROSOFT ALLOWS USERS CONTROL OVER USING VOICE CLIPS TO IMPROVE SPEECH RECOGNITION ALGORITHM
5.10.2 APPLE DEVELOPS AI MODEL FOR AUTOMATIC SPEECH TRANSCRIPTION AND SPEAKER RECOGNITION
5.10.3 SPEECHMATICS LAUNCHES SPEECH RECOGNITION SERVICE ON MICROSOFT AZURE
5.10.4 CRESCENDO SPEECH PROCESSING SOFTWARE OFFERS MULTILINGUAL SUPPORT
5.10.5 FACEBOOK'S AI OPEN SOURCE PROVIDES NEW DATASET FOR SPEECH RECOGNITION
5.10.6 LUMENVOX LAUNCHED NEXT-GENERATION AUTOMATIC SPEECH RECOGNITION (ASR) ENGINE WITH TRANSCRIPTION
5.10.7 SENSORY'S SPEECH RECOGNITION MODEL HELPS UNDERSTAND CHILDREN’S VOICE PATTERN
5.11 KEY REGULATIONS FOR SPEECH AND VOICE RECOGNITION MARKET
TABLE 19 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 20 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 21 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 22 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.12 CODES AND STANDARDS
TABLE 23 SPEECH AND VOICE RECOGNITION CODES AND STANDARDS
5.13 PRICING ANALYSIS
TABLE 24 AVERAGE SELLING PRICE OF SPEECH RECOGNITION SOFTWARE
5.14 KEY STAKEHOLDERS & BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 31 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS
TABLE 25 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS (%)
5.14.2 BUYING CRITERIA
FIGURE 32 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
TABLE 26 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
5.15 KEY CONFERENCES AND EVENTS (2022–2023)
TABLE 27 SPEECH AND VOICE RECOGNITION MARKET: DETAILED LIST OF CONFERENCES & EVENTS
6 TYPES OF SPEECH AND VOICE RECOGNITION SYSTEMS
6.1 INTRODUCTION
FIGURE 33 DELIVERY METHODS IN SPEECH AND VOICE RECOGNITION
6.2 ARTIFICIAL INTELLIGENCE-BASED
6.2.1 ARTIFICIAL INTELLIGENCE IS MOST EFFECTIVE TECHNIQUE FOR FLAWLESS AND ACCURATE SPEECH RECOGNITION
6.3 NON-ARTIFICIAL INTELLIGENCE-BASED
6.3.1 NON-AI-BASED SYSTEMS OFFER INDUSTRY-LEADING ACCURACY, SECURITY, AND CONSISTENCY
7 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY
7.1 INTRODUCTION
FIGURE 34 SPEECH AND VOICE RECOGNITION MARKET SEGMENTATION, BY TECHNOLOGY
FIGURE 35 VOICE RECOGNITION TECHNOLOGY TO RECORD HIGHER CAGR THAN SPEECH RECOGNITION TECHNOLOGY DURING FORECAST PERIOD
TABLE 28 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY, 2018–2021 (USD MILLION)
TABLE 29 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY, 2022–2027 (USD MILLION)
7.2 VOICE RECOGNITION
7.2.1 NON-CONTACT, EASY-TO-USE, AND NON-INTRUSIVE FEATURES OF VOICE RECOGNITION DEVICES ARE EXPECTED TO FACILITATE THEIR DEMAND IN COMING YEARS
FIGURE 36 VOICE RECOGNITION PHASE PROCESS
TABLE 30 VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 31 VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
7.2.2 SPEAKER IDENTIFICATION
7.2.2.1 Speaker identification technology authenticates users by capturing unique speech characteristics
7.2.3 SPEAKER VERIFICATION
7.2.3.1 Speaker verification technology is increasingly used in banks and financial services for security purposes
FIGURE 37 SPEAKER VERIFICATION PROCESS
7.3 SPEECH RECOGNITION
7.3.1 MULTILINGUAL ENVIRONMENTS ARE EXPECTED TO WITNESS HIGH DEMAND FOR SPEECH RECOGNITION TECHNOLOGY TO ELIMINATE LANGUAGE BARRIERS
TABLE 32 SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 33 SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
7.3.2 AUTOMATIC SPEECH RECOGNITION
7.3.2.1 Advancements in ASR technology empower businesses to improve customer experience
7.3.3 TEXT-TO-SPEECH
7.3.3.1 Integration of AI and ML technologies into TTS software enables conversion of text into natural-sounding audio
FIGURE 38 AUTOMATIC SPEECH RECOGNITION TECHNOLOGY TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
TABLE 34 SPEECH RECOGNITION MARKET, BY TYPE, 2018–2021 (USD MILLION)
TABLE 35 SPEECH RECOGNITION MARKET, BY TYPE, 2022–2027 (USD MILLION)
8 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE
8.1 INTRODUCTION
FIGURE 39 DEPLOYMENT MODES IN SPEECH AND VOICE RECOGNITION
FIGURE 40 ON-CLOUD SPEECH AND VOICE RECOGNITION SOLUTIONS TO HOLD MAXIMUM MARKET SHARE IN 2027
TABLE 36 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 37 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
8.2 ON-CLOUD
8.2.1 ON-CLOUD SEGMENT TO CAPTURE LARGER MARKET SHARE DURING FORECAST PERIOD
TABLE 38 ON-CLOUD: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 39 ON-CLOUD: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
8.3 ON-PREMISES/EMBEDDED
8.3.1 ON-PREMISES DEPLOYMENT PROJECTED TO WITNESS HIGHER GROWTH RATE DURING FORECAST PERIOD
TABLE 40 ON-PREMISES/EMBEDDED: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 41 ON-PREMISES/EMBEDDED: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL
9.1 INTRODUCTION
FIGURE 41 CONSUMER VERTICAL TO COMMAND SPEECH AND VOICE RECOGNITION MARKET DURING FORECAST PERIOD
TABLE 42 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 43 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
FIGURE 42 GOVERNMENT VERTICAL TO HOLD LARGEST SHARE OF VOICE RECOGNITION MARKET IN 2027
TABLE 44 VOICE RECOGNITION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 45 VOICE RECOGNITION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
FIGURE 43 CONSUMER VERTICAL TO HOLD LARGEST SHARE OF SPEECH RECOGNITION MARKET IN 2027
TABLE 46 SPEECH RECOGNITION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 47 SPEECH RECOGNITION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
9.2 AUTOMOTIVE
9.2.1 INCREASING USE OF SPEECH AND VOICE RECOGNITION TECHNOLOGIES IN IN-CAR INFOTAINMENT SYSTEMS
FIGURE 44 VEHICLE INSURANCE APPLICATION TO RECORD HIGHER CAGR IN SPEECH AND VOICE RECOGNITION MARKET DURING FORECAST PERIOD
TABLE 48 AUTOMOTIVE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 49 AUTOMOTIVE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 50 AUTOMOTIVE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 51 AUTOMOTIVE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 52 AUTOMOTIVE: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 53 AUTOMOTIVE: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 54 AUTOMOTIVE: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 55 AUTOMOTIVE: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 56 AUTOMOTIVE: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 57 AUTOMOTIVE: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.3 ENTERPRISE
9.3.1 GROWING ADOPTION OF VIRTUAL ASSISTANTS IN POST-PANDEMIC PERIOD TO BOOST MARKET GROWTH
TABLE 58 ENTERPRISE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 59 ENTERPRISE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 60 ENTERPRISE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 61 ENTERPRISE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 62 ENTERPRISE: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 63 ENTERPRISE: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 64 ENTERPRISE: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 65 ENTERPRISE: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 66 ENTERPRISE: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 67 ENTERPRISE: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.4 CONSUMER
9.4.1 SURGING ADOPTION OF VOICE-CONTROLLED SMART ASSISTIVE DEVICES
FIGURE 45 MOBILE DEVICE CONTROL APPLICATION TO CAPTURE LARGER SHARE OF SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER VERTICAL IN 2027
TABLE 68 CONSUMER: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 69 CONSUMER: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 70 CONSUMER: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 71 CONSUMER: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 72 CONSUMER: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 73 CONSUMER: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 74 CONSUMER: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 75 CONSUMER: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 76 CONSUMER: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 77 CONSUMER: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.5 BANKING, FINANCIAL SERVICES, AND INSURANCE (BFSI)
9.5.1 RISING NEED FOR VOICE AUTHENTICATION IN MOBILE BANKING TO STIMULATE MARKET GROWTH
TABLE 78 BFSI: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 79 BFSI: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 80 BFSI: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 81 BFSI: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 82 BFSI: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 83 BFSI: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 84 BFSI: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 85 BFSI: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 86 BFSI: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 87 BFSI: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.6 GOVERNMENT
9.6.1 INCREASING USE OF SPEECH AND VOICE RECOGNITION SYSTEMS TO IMPROVE EFFICIENCY BOOSTS MARKET GROWTH
FIGURE 46 PROOF-OF-LIFE APPLICATION TO LEAD SPEECH AND VOICE RECOGNITION MARKET FOR GOVERNMENT VERTICAL FROM 2022 TO 2027
TABLE 88 GOVERNMENT: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 89 GOVERNMENT: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 90 GOVERNMENT: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 91 GOVERNMENT: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 92 GOVERNMENT: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 93 GOVERNMENT: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 94 GOVERNMENT: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 95 GOVERNMENT: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 96 GOVERNMENT: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 97 GOVERNMENT: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.7 RETAIL
9.7.1 INCREASING USE OF ADVANCED TECHNOLOGIES BY RETAILERS TO PROVIDE PERSONALIZED EXPERIENCE TO CUSTOMERS SUPPORTS MARKET GROWTH
TABLE 98 RETAIL: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 99 RETAIL: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 100 RETAIL: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 101 RETAIL: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 102 RETAIL: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 103 RETAIL: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 104 RETAIL: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 105 RETAIL: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 106 RETAIL: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 107 RETAIL: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.8 HEALTHCARE
9.8.1 GROWING RELIANCE OF CARE PROVIDERS ON SPEECH AND VOICE RECOGNITION TO AVOID ERRORS, INCREASE PRODUCTIVITY, AND IMPROVE EFFICIENCY OF STAFF TO FUEL MARKET GROWTH
FIGURE 47 SPECIAL-PURPOSE ROBOTS EXPECTED TO REGISTER HIGHER CAGR IN SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE DURING FORECAST PERIOD
TABLE 108 HEALTHCARE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 109 HEALTHCARE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 110 HEALTHCARE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 111 HEALTHCARE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 112 HEALTHCARE: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 113 HEALTHCARE: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 114 HEALTHCARE: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 115 HEALTHCARE: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 116 HEALTHCARE: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 117 HEALTHCARE: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.9 MILITARY
9.9.1 ONGOING INNOVATION IN SPEECH RECOGNITION TECHNOLOGY-BASED PRODUCTS TO FACILITATE THEIR DEMAND IN MILITARY APPLICATIONS
TABLE 118 MILITARY: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 119 MILITARY: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 120 MILITARY: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 121 MILITARY: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 122 MILITARY: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 123 MILITARY: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 124 MILITARY: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 125 MILITARY: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 126 MILITARY: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 127 MILITARY: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.10 LEGAL
9.10.1 ELEVATING ADOPTION OF SPEECH AND VOICE RECOGNITION TOOLS BY LAW FIRMS TO FUEL MARKET GROWTH
TABLE 128 LEGAL: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 129 LEGAL: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 130 LEGAL: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 131 LEGAL: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 132 LEGAL: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 133 LEGAL: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 134 LEGAL: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 135 LEGAL: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 136 LEGAL: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 137 LEGAL: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.11 EDUCATION
9.11.1 RISING USE OF SPEECH AND VOICE RECOGNITION TO EDUCATE DISABLED STUDENTS TO CREATE GROWTH OPPORTUNITIES
FIGURE 48 EDUCATION FOR DISABLED & E-LEARNING SEGMENT TO RECORD HIGHER CAGR IN SPEECH AND VOICE RECOGNITION MARKET DURING FORECAST PERIOD
TABLE 138 EDUCATION: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 139 EDUCATION: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 140 EDUCATION: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 141 EDUCATION: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 142 EDUCATION: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 143 EDUCATION: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 144 EDUCATION: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 145 EDUCATION: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 146 EDUCATION: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 147 EDUCATION: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.12 OTHERS
TABLE 148 OTHERS: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 149 OTHERS: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 150 OTHERS: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 151 OTHERS: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
10 SPEECH AND VOICE RECOGNITION MARKET, BY REGION
10.1 INTRODUCTION
FIGURE 49 SPEECH AND VOICE RECOGNITION MARKET SEGMENTATION, BY REGION
FIGURE 50 ASIA PACIFIC TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 51 SPEECH AND VOICE RECOGNITION MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR FROM 2022 TO 2027
TABLE 152 SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 153 SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
10.2 AMERICAS
FIGURE 52 AMERICAS: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT
TABLE 154 AMERICAS: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 155 AMERICAS: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 156 NORTH AMERICA: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 157 NORTH AMERICA: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
10.2.1 NORTH AMERICA
10.2.1.1 US
10.2.1.1.1 Prominent presence of key market players boosts demand for speech and voice recognition technologies
10.2.1.2 Canada
10.2.1.2.1 High deployment of voice-activated biometrics in banking applications to support market growth
10.2.1.3 Mexico
10.2.1.3.1 Strong focus of giant companies on setting up development centers in Mexico to create growth opportunities
10.2.2 SOUTH AMERICA
10.2.2.1 Rapid internet penetration to drive market growth
10.3 EUROPE
FIGURE 53 EUROPE: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT
TABLE 158 EUROPE: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 159 EUROPE: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
10.3.1 UK
10.3.1.1 Strong government support and technological advancements boost market growth
10.3.2 GERMANY
10.3.2.1 Greater reliance on AI and cognitive technologies in enterprises to fuel demand for speech and voice recognition technologies
10.3.3 FRANCE
10.3.3.1 Significant focus on improving air traffic control fosters growth of speech and voice recognition market
10.3.4 REST OF EUROPE
10.4 ASIA PACIFIC
FIGURE 54 ASIA PACIFIC: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT
TABLE 160 ASIA PACIFIC: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 161 ASIA PACIFIC: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
10.4.1 JAPAN
10.4.1.1 Rapid deployment of Al into innovative robotic devices fuels market growth
10.4.2 CHINA
10.4.2.1 Robust presence of key market players is boosting market growth
10.4.3 INDIA
10.4.3.1 Large-scale technological development and increasing number of mobile and internet users to drive market growth
10.4.4 REST OF ASIA PACIFIC
10.5 ROW
FIGURE 55 SPEECH AND VOICE RECOGNITION MARKET IN ROW, 2022 VS. 2027
TABLE 162 ROW: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 163 ROW: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
10.5.1 MIDDLE EAST
10.5.1.1 Remarkable adoption of voice assistant devices fosters demand for speech and voice recognition technologies
10.5.2 AFRICA
10.5.2.1 Africa to record higher CAGR than Middle East in speech and voice recognition market in RoW from 2022 to 2027
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 REVENUE ANALYSIS OF TOP 5 COMPANIES
FIGURE 56 REVENUE ANALYSIS (USD MILLION), 2017–2021
11.3 KEY PLAYER STRATEGIES/RIGHT TO WIN
TABLE 164 OVERVIEW OF STRATEGIES DEPLOYED BY KEY MANUFACTURERS OF
SPEECH AND VOICE RECOGNITION PRODUCTS
11.4 MARKET SHARE ANALYSIS
TABLE 165 SPEECH AND VOICE RECOGNITION MARKET:
DEGREE OF COMPETITION (2021)
FIGURE 57 MARKET SHARE ANALYSIS: SPEECH AND VOICE
RECOGNITION MARKET, 2021
11.5 COMPANY EVALUATION QUADRANT
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE COMPANIES
11.5.4 PARTICIPANTS
FIGURE 58 SPEECH AND VOICE RECOGNITION MARKET COMPANY EVALUATION QUADRANT, 2021
11.6 STRENGTH OF PRODUCT PORTFOLIO
11.7 BUSINESS STRATEGY EXCELLENCE
11.8 COMPETITIVE BENCHMARKING
TABLE 166 COMPETITIVE BENCHMARKING: SPEECH AND VOICE RECOGNITION MARKET
FIGURE 59 COMPANY VERTICAL FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET
TABLE 167 COMPANY TECHNOLOGY FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET
TABLE 168 COMPANY REGION FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET
11.9 SME EVALUATION QUADRANT FOR SPEECH AND VOICE RECOGNITION MARKET, 2021
11.9.1 PROGRESSIVE COMPANIES
11.9.2 RESPONSIVE COMPANIES
11.9.3 DYNAMIC COMPANIES
11.9.4 STARTING BLOCKS
FIGURE 60 SPEECH AND VOICE RECOGNITION MARKET STARTUP/SME EVALUATION QUADRANT, 2021
11.10 COMPETITIVE SITUATION AND TRENDS
11.10.1 PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 169 PRODUCT LAUNCHES AND DEVELOPMENTS, 2018–2021
11.10.2 DEALS
TABLE 170 DEALS, 2018–2021
12 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, COVID-19 Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
12.1 KEY PLAYERS
12.1.1 APPLE
TABLE 171 APPLE: BUSINESS OVERVIEW
FIGURE 61 APPLE: COMPANY SNAPSHOT
TABLE 172 APPLE: PRODUCTS OFFERED
TABLE 173 APPLE: DEALS
12.1.2 MICROSOFT
TABLE 174 MICROSOFT: BUSINESS OVERVIEW
FIGURE 62 MICROSOFT: COMPANY SNAPSHOT
TABLE 175 MICROSOFT: PRODUCTS OFFERED
TABLE 176 MICROSOFT: PRODUCT LAUNCHES
TABLE 177 MICROSOFT: DEALS
12.1.3 IBM
TABLE 178 IBM: BUSINESS OVERVIEW
FIGURE 63 IBM: COMPANY SNAPSHOT
TABLE 179 IBM: PRODUCT OFFERED
TABLE 180 IBM: PRODUCT LAUNCHES
TABLE 181 IBM: DEALS
12.1.4 ALPHABET
TABLE 182 ALPHABET: BUSINESS OVERVIEW
FIGURE 64 ALPHABET: COMPANY SNAPSHOT
TABLE 183 ALPHABET: PRODUCTS OFFERED
TABLE 184 ALPHABET: PRODUCTS LAUNCHES
TABLE 185 ALPHABET: DEALS
12.1.5 AMAZON
TABLE 186 AMAZON: BUSINESS OVERVIEW
FIGURE 65 AMAZON: COMPANY SNAPSHOT
TABLE 187 AMAZON: PRODUCTS OFFERED
TABLE 188 AMAZON: PRODUCTS LAUNCHES
TABLE 189 AMAZON: DEALS
12.1.6 BAIDU
TABLE 190 BAIDU: BUSINESS OVERVIEW
FIGURE 66 BAIDU: COMPANY SNAPSHOT
TABLE 191 BAIDU: PRODUCTS OFFERED
TABLE 192 BAIDU: PRODUCTS LAUNCHES
TABLE 193 BAIDU: DEALS
12.1.7 IFLYTEK
TABLE 194 IFLYTEK: BUSINESS OVERVIEW
FIGURE 67 IFLYTEK: COMPANY SNAPSHOT
TABLE 195 IFLYTEK: PRODUCTS OFFERED
TABLE 196 IFLYTEK: PRODUCTS LAUNCHES
12.1.8 SPEECH ENABLED SOFTWARE TECHNOLOGIES (SESTEK)
TABLE 197 SESTEK: BUSINESS OVERVIEW
TABLE 198 SESTEK: PRODUCTS OFFERED
TABLE 199 SESTEK: PRODUCTS LAUNCHES
TABLE 200 SESTEK: DEALS
12.1.9 SPEAK2WEB
TABLE 201 SPEAK2WEB: BUSINESS OVERVIEW
TABLE 202 SPEAK2WEB: PRODUCTS OFFERED
12.1.10 VERINT
TABLE 203 VERINT: BUSINESS OVERVIEW
FIGURE 68 VERINT: COMPANY SNAPSHOT
TABLE 204 VERINT: PRODUCTS OFFERED
TABLE 205 VERINT: PRODUCTS LAUNCHES
TABLE 206 VERINT: DEALS
12.1.11 SPEECHMATICS
TABLE 207 SPEECHMATICS: BUSINESS OVERVIEW
TABLE 208 SPEECHMATICS: PRODUCTS OFFERED
TABLE 209 SPEECHMATICS: PRODUCT LAUNCHES
TABLE 210 SPEECHMATICS: DEALS
12.1.12 DEEPGRAM
TABLE 211 DEEPGRAM: BUSINESS OVERVIEW
TABLE 212 DEEPGRAM: PRODUCTS OFFERED
TABLE 213 DEEPGRAM: DEALS
12.1.13 VOICEITT
TABLE 214 VOICEITT: BUSINESS OVERVIEW
TABLE 215 VOICEITT: PRODUCTS OFFERED
12.1.14 VOICEGAIN
TABLE 216 VOICEGAIN: BUSINESS OVERVIEW
TABLE 217 VOICEGAIN: PRODUCTS OFFERED
TABLE 218 VOICEGAIN: PRODUCT LAUNCHES
TABLE 219 VOICEGAIN: DEALS
12.1.15 SENSORY INC.
TABLE 220 SENSORY: BUSINESS OVERVIEW
TABLE 221 SENSORY: PRODUCTS OFFERED
TABLE 222 SENSORY: PRODUCT LAUNCHES
TABLE 223 SENSORY: DEALS
12.1.16 ASSEMBLYAI
TABLE 224 ASSEMBLYAI: BUSINESS OVERVIEW
TABLE 225 ASSEMBLYAI: PRODUCTS OFFERED
TABLE 226 ASEEMBLYAI: DEALS
12.1.17 VERBIT
TABLE 227 VERBIT: BUSINESS OVERVIEW
TABLE 228 VERBIT: PRODUCTS OFFERED
TABLE 229 VERBIT: DEALS
12.1.18 OTTER.AI
TABLE 230 OTTER.AI: BUSINESS OVERVIEW
TABLE 231 OTTER.AI: PRODUCTS OFFERED
TABLE 232 OTTER.AI: PRODUCT LAUNCHES
TABLE 233 OTTER.AI: DEALS
12.1.19 REV
TABLE 234 REV: BUSINESS OVERVIEW
TABLE 235 REV: PRODUCTS OFFERED
12.2 OTHER PLAYERS
12.2.1 RAYTHEON BBN TECHNOLOGIES
12.2.2 M2SYS
12.2.3 M*MODAL
12.2.4 VALIDSOFT
12.2.5 LUMENVOX
12.2.6 ACAPELA GROUP
12.2.7 VOCALZOOM
12.2.8 UNIPHORE SOFTWARE
12.2.9 ISPEECH
12.2.10 GOVIVACE
12.2.11 ADVANCED VOICE RECOGNITION SYSTEMS
12.2.12 DOLBEY
12.2.13 READSPEAKER
12.2.14 PARETEUM CORPORATION
12.2.15 SOUNDHOUND INC.
*Details on Business Overview, Products Offered, Recent Developments, COVID-19 Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
13 APPENDIX
13.1 INSIGHTS FROM INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 AVAILABLE CUSTOMIZATION
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 SUMMARY OF CHANGES
1.4 STUDY SCOPE
1.4.1 MARKETS COVERED
1.4.2 GEOGRAPHIC SCOPE
1.4.3 YEARS CONSIDERED
1.5 CURRENCY
1.6 LIMITATIONS
1.7 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 PROCESS FLOW: SPEECH AND VOICE RECOGNITION
MARKET SIZE ESTIMATION
FIGURE 2 SPEECH AND VOICE RECOGNITION MARKET: RESEARCH DESIGN
2.1.1 SECONDARY AND PRIMARY RESEARCH
FIGURE 3 RESEARCH APPROACH
2.1.2 SECONDARY DATA
2.1.2.1 Secondary sources
2.1.2.2 Key secondary sources
2.1.3 PRIMARY DATA
2.1.3.1 Primary sources
2.1.3.2 Key industry insights
2.1.3.3 Primary interview breakup
2.1.3.4 List of key primary respondents
2.1.3.5 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for arriving at market size by bottom-up analysis
FIGURE 4 SPEECH AND VOICE RECOGNITION MARKET: BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for capturing market size by top-down analysis
FIGURE 5 SPEECH AND VOICE RECOGNITION MARKET: TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 6 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 LIMITATIONS
2.6 RISK ASSESSMENT
TABLE 1 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
3.1 SPEECH AND VOICE RECOGNITION MARKET: POST-COVID-19
FIGURE 7 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET
FIGURE 8 SPEECH RECOGNITION TO ACCOUNT FOR LARGER MARKET SHARE THROUGHOUT FORECAST PERIOD
FIGURE 9 ON-CLOUD DEPLOYMENT MODE TO DOMINATE SPEECH AND VOICE RECOGNITION MARKET DURING FORECAST PERIOD
FIGURE 10 CONSUMER VERTICAL TO DOMINATE SPEECH AND VOICE RECOGNITION MARKET BETWEEN 2022 AND 2027
FIGURE 11 AMERICAS HELD LARGEST MARKET SHARE IN 2021
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN SPEECH AND VOICE RECOGNITION MARKET
FIGURE 12 INCREASING DEMAND FOR SPEECH AND VOICE RECOGNITION TECHNOLOGY-BASED PRODUCTS IN ASIA PACIFIC TO DRIVE MARKET GROWTH
4.2 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY
FIGURE 13 SPEECH RECOGNITION TECHNOLOGY TO ACCOUNT FOR LARGER MARKET SHARE THAN VOICE RECOGNITION TECHNOLOGY DURING FORECAST PERIOD
4.3 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE
FIGURE 14 ON-CLOUD SEGMENT TO COMMAND SPEECH AND VOICE RECOGNITION MARKET IN 2022
4.4 SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS, BY REGION AND TECHNOLOGY
FIGURE 15 NORTH AMERICA AND SPEECH RECOGNITION TECHNOLOGY TO ACCOUNT FOR MAJORITY OF MARKET SHARE IN AMERICAS BY 2027
4.5 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL
FIGURE 16 CONSUMER VERTICAL TO EXHIBIT HIGHEST CAGR FROM 2022 TO 2027
4.6 SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY (2021)
FIGURE 17 INDIA TO EXHIBIT HIGHEST CAGR IN GLOBAL SPEECH AND VOICE RECOGNITION MARKET FROM 2022 TO 2027
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Escalated use of speech and voice recognition software by healthcare professionals
5.2.1.2 Extensive penetration of speech and voice recognition technologies in smart appliances
FIGURE 19 SALES DATA FOR VOICE ASSISTANT DEVICES OFFERED BY KEY BRANDS, 2020
5.2.1.3 Elevated demand for speech and voice recognition technologies to transcribe audio
5.2.1.4 Strong requirement for voice-based biometric systems, especially by financial service providers, for multifactor authentication and mobile banking applications
FIGURE 20 USE OF VOICE RECOGNITION TO PREVENT IDENTITY THEFT IN BANKING AND FINANCE
FIGURE 21 DATA BREACH COMPLAINTS IN US (2018–2020)
5.2.1.5 Successful integration of AI into speech and voice recognition systems to achieve more accurate results
FIGURE 22 DRIVERS FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT
5.2.2 RESTRAINTS
5.2.2.1 Limitation of software to understand contextual relation of words in different languages
5.2.2.2 Need for numerous channels in speech-to-text APIs while transcribing audio data that includes multiple channels
5.2.2.3 Limited capacity to recognize and respond to customer intent
5.2.2.4 Concerns regarding data privacy and security
5.2.2.5 High cost of high-end voice recognition systems deployed in automobiles
5.2.2.6 Requirement for huge investment keeps small players out
FIGURE 23 RESTRAINTS FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT
5.2.3 OPPORTUNITIES
5.2.3.1 Customer preference for cloud-based speech-to-text software
5.2.3.2 Increasing popularity of online shopping
5.2.3.3 Development of personalized applications for users
5.2.3.4 Integration of speech and voice recognition technology with mobile applications
5.2.3.5 Development of speech and voice recognition software for micro-linguistics and local languages
5.2.3.6 Application of speech and voice recognition in service robotics
5.2.3.7 Focus on utilizing speech and voice recognition technologies for educating disabled students
5.2.3.8 Deployment of speech and voice recognition technology in autonomous cars
5.2.3.9 Consumer preference for technologically advanced products
FIGURE 24 OPPORTUNITIES FOR SPEECH AND VOICE RECOGNITION MARKET
AND THEIR IMPACT
5.2.4 CHALLENGES
5.2.4.1 Creating unique vocabulary for various industries
5.2.4.2 Limited awareness regarding availability and benefits of voice assistant technologies
5.2.4.3 Increased errors due to background noise
5.2.4.4 Lack of standardized platform for development of customized products
5.2.4.5 Slow network speeds posing challenge to cloud-based speech recognition services
FIGURE 25 CHALLENGES FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT
5.3 VALUE CHAIN ANALYSIS
FIGURE 26 VALUE CHAIN ANALYSIS: SPEECH AND VOICE RECOGNITION MARKET
5.4 ECOSYSTEM
FIGURE 27 SPEECH AND VOICE RECOGNITION MARKET: ECOSYSTEM
TABLE 2 SPEECH AND VOICE RECOGNITION MARKET: ECOSYSTEM
5.4.1 REVENUE SHIFT IN SPEECH AND VOICE RECOGNITION MARKET
FIGURE 28 REVENUE SHIFT IN SPEECH AND VOICE RECOGNITION MARKET
5.5 PATENT ANALYSIS
TABLE 3 IMPORTANT PATENT REGISTRATIONS, 2017–2021
FIGURE 29 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS
FIGURE 30 ANNUAL NUMBER OF PATENTS GRANTED OVER LAST 10 YEARS
TABLE 4 TOP 10 PATENT OWNERS
5.6 TRADE ANALYSIS
TABLE 5 IMPORT STATISTICS: SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2017–2021 (USD THOUSAND)
TABLE 6 EXPORT STATISTICS: SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2017–2021 (USD THOUSAND)
5.7 TARIFF ANALYSIS
TABLE 7 TARIFF FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY NETHERLANDS IN 2020
TABLE 8 TARIFF FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY CHINA IN 2020
TABLE 9 TARIFF FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY UK IN 2020
TABLE 10 TARIFF FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY US IN 2020
TABLE 11 TARIFF FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY GERMANY IN 2020
5.8 CASE STUDY ANALYSIS
TABLE 12 SESTEK HELPS TEKNOSA TO INCREASE FIRST-CALL RESOLUTION RATE AND SHORTEN CALL DURATIONS AT CONTACT CENTER
TABLE 13 SESTEK HELPS AGENTS AT AL BARAKA BANK CONTACT CENTER TO SIGNIFICANTLY IMPROVE THEIR EFFICIENCY AND REDUCE WORKLOAD
TABLE 14 MICROSOFT TRANSLATOR APPLICATION FACILITATES MULTILINGUAL PARENT–TEACHER COMMUNICATION AT CHINOOK MIDDLE SCHOOL
TABLE 15 IBM WATSON HELPS BRADESCO BANK TO REDUCE RESPONSE TIME
TABLE 16 ALEXA HELPS HAWAII PACIFIC HEALTH TO ENHANCE PATIENT EXPERIENCE BY QUERY RESOLUTION
TABLE 17 CHATBOT BY ROANUZ ANSWERS USER QUERIES QUICKLY
5.9 PORTER'S FIVE FORCES ANALYSIS
TABLE 18 SPEECH AND VOICE RECOGNITION MARKET: PORTER'S FIVE FORCES ANALYSIS, 2020
5.9.1 THREAT OF NEW ENTRANTS
5.9.2 THREAT OF SUBSTITUTES
5.9.3 BARGAINING POWER OF BUYERS
5.9.4 BARGAINING POWER OF SUPPLIERS
5.9.5 INTENSITY OF RIVALRY
5.10 TECHNOLOGY ANALYSIS
5.10.1 MICROSOFT ALLOWS USERS CONTROL OVER USING VOICE CLIPS TO IMPROVE SPEECH RECOGNITION ALGORITHM
5.10.2 APPLE DEVELOPS AI MODEL FOR AUTOMATIC SPEECH TRANSCRIPTION AND SPEAKER RECOGNITION
5.10.3 SPEECHMATICS LAUNCHES SPEECH RECOGNITION SERVICE ON MICROSOFT AZURE
5.10.4 CRESCENDO SPEECH PROCESSING SOFTWARE OFFERS MULTILINGUAL SUPPORT
5.10.5 FACEBOOK'S AI OPEN SOURCE PROVIDES NEW DATASET FOR SPEECH RECOGNITION
5.10.6 LUMENVOX LAUNCHED NEXT-GENERATION AUTOMATIC SPEECH RECOGNITION (ASR) ENGINE WITH TRANSCRIPTION
5.10.7 SENSORY'S SPEECH RECOGNITION MODEL HELPS UNDERSTAND CHILDREN’S VOICE PATTERN
5.11 KEY REGULATIONS FOR SPEECH AND VOICE RECOGNITION MARKET
TABLE 19 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 20 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 21 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 22 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.12 CODES AND STANDARDS
TABLE 23 SPEECH AND VOICE RECOGNITION CODES AND STANDARDS
5.13 PRICING ANALYSIS
TABLE 24 AVERAGE SELLING PRICE OF SPEECH RECOGNITION SOFTWARE
5.14 KEY STAKEHOLDERS & BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 31 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS
TABLE 25 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS (%)
5.14.2 BUYING CRITERIA
FIGURE 32 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
TABLE 26 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
5.15 KEY CONFERENCES AND EVENTS (2022–2023)
TABLE 27 SPEECH AND VOICE RECOGNITION MARKET: DETAILED LIST OF CONFERENCES & EVENTS
6 TYPES OF SPEECH AND VOICE RECOGNITION SYSTEMS
6.1 INTRODUCTION
FIGURE 33 DELIVERY METHODS IN SPEECH AND VOICE RECOGNITION
6.2 ARTIFICIAL INTELLIGENCE-BASED
6.2.1 ARTIFICIAL INTELLIGENCE IS MOST EFFECTIVE TECHNIQUE FOR FLAWLESS AND ACCURATE SPEECH RECOGNITION
6.3 NON-ARTIFICIAL INTELLIGENCE-BASED
6.3.1 NON-AI-BASED SYSTEMS OFFER INDUSTRY-LEADING ACCURACY, SECURITY, AND CONSISTENCY
7 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY
7.1 INTRODUCTION
FIGURE 34 SPEECH AND VOICE RECOGNITION MARKET SEGMENTATION, BY TECHNOLOGY
FIGURE 35 VOICE RECOGNITION TECHNOLOGY TO RECORD HIGHER CAGR THAN SPEECH RECOGNITION TECHNOLOGY DURING FORECAST PERIOD
TABLE 28 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY, 2018–2021 (USD MILLION)
TABLE 29 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY, 2022–2027 (USD MILLION)
7.2 VOICE RECOGNITION
7.2.1 NON-CONTACT, EASY-TO-USE, AND NON-INTRUSIVE FEATURES OF VOICE RECOGNITION DEVICES ARE EXPECTED TO FACILITATE THEIR DEMAND IN COMING YEARS
FIGURE 36 VOICE RECOGNITION PHASE PROCESS
TABLE 30 VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 31 VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
7.2.2 SPEAKER IDENTIFICATION
7.2.2.1 Speaker identification technology authenticates users by capturing unique speech characteristics
7.2.3 SPEAKER VERIFICATION
7.2.3.1 Speaker verification technology is increasingly used in banks and financial services for security purposes
FIGURE 37 SPEAKER VERIFICATION PROCESS
7.3 SPEECH RECOGNITION
7.3.1 MULTILINGUAL ENVIRONMENTS ARE EXPECTED TO WITNESS HIGH DEMAND FOR SPEECH RECOGNITION TECHNOLOGY TO ELIMINATE LANGUAGE BARRIERS
TABLE 32 SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 33 SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
7.3.2 AUTOMATIC SPEECH RECOGNITION
7.3.2.1 Advancements in ASR technology empower businesses to improve customer experience
7.3.3 TEXT-TO-SPEECH
7.3.3.1 Integration of AI and ML technologies into TTS software enables conversion of text into natural-sounding audio
FIGURE 38 AUTOMATIC SPEECH RECOGNITION TECHNOLOGY TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
TABLE 34 SPEECH RECOGNITION MARKET, BY TYPE, 2018–2021 (USD MILLION)
TABLE 35 SPEECH RECOGNITION MARKET, BY TYPE, 2022–2027 (USD MILLION)
8 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE
8.1 INTRODUCTION
FIGURE 39 DEPLOYMENT MODES IN SPEECH AND VOICE RECOGNITION
FIGURE 40 ON-CLOUD SPEECH AND VOICE RECOGNITION SOLUTIONS TO HOLD MAXIMUM MARKET SHARE IN 2027
TABLE 36 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 37 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
8.2 ON-CLOUD
8.2.1 ON-CLOUD SEGMENT TO CAPTURE LARGER MARKET SHARE DURING FORECAST PERIOD
TABLE 38 ON-CLOUD: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 39 ON-CLOUD: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
8.3 ON-PREMISES/EMBEDDED
8.3.1 ON-PREMISES DEPLOYMENT PROJECTED TO WITNESS HIGHER GROWTH RATE DURING FORECAST PERIOD
TABLE 40 ON-PREMISES/EMBEDDED: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 41 ON-PREMISES/EMBEDDED: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL
9.1 INTRODUCTION
FIGURE 41 CONSUMER VERTICAL TO COMMAND SPEECH AND VOICE RECOGNITION MARKET DURING FORECAST PERIOD
TABLE 42 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 43 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
FIGURE 42 GOVERNMENT VERTICAL TO HOLD LARGEST SHARE OF VOICE RECOGNITION MARKET IN 2027
TABLE 44 VOICE RECOGNITION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 45 VOICE RECOGNITION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
FIGURE 43 CONSUMER VERTICAL TO HOLD LARGEST SHARE OF SPEECH RECOGNITION MARKET IN 2027
TABLE 46 SPEECH RECOGNITION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 47 SPEECH RECOGNITION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
9.2 AUTOMOTIVE
9.2.1 INCREASING USE OF SPEECH AND VOICE RECOGNITION TECHNOLOGIES IN IN-CAR INFOTAINMENT SYSTEMS
FIGURE 44 VEHICLE INSURANCE APPLICATION TO RECORD HIGHER CAGR IN SPEECH AND VOICE RECOGNITION MARKET DURING FORECAST PERIOD
TABLE 48 AUTOMOTIVE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 49 AUTOMOTIVE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 50 AUTOMOTIVE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 51 AUTOMOTIVE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 52 AUTOMOTIVE: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 53 AUTOMOTIVE: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 54 AUTOMOTIVE: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 55 AUTOMOTIVE: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 56 AUTOMOTIVE: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 57 AUTOMOTIVE: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.3 ENTERPRISE
9.3.1 GROWING ADOPTION OF VIRTUAL ASSISTANTS IN POST-PANDEMIC PERIOD TO BOOST MARKET GROWTH
TABLE 58 ENTERPRISE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 59 ENTERPRISE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 60 ENTERPRISE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 61 ENTERPRISE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 62 ENTERPRISE: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 63 ENTERPRISE: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 64 ENTERPRISE: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 65 ENTERPRISE: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 66 ENTERPRISE: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 67 ENTERPRISE: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.4 CONSUMER
9.4.1 SURGING ADOPTION OF VOICE-CONTROLLED SMART ASSISTIVE DEVICES
FIGURE 45 MOBILE DEVICE CONTROL APPLICATION TO CAPTURE LARGER SHARE OF SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER VERTICAL IN 2027
TABLE 68 CONSUMER: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 69 CONSUMER: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 70 CONSUMER: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 71 CONSUMER: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 72 CONSUMER: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 73 CONSUMER: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 74 CONSUMER: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 75 CONSUMER: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 76 CONSUMER: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 77 CONSUMER: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.5 BANKING, FINANCIAL SERVICES, AND INSURANCE (BFSI)
9.5.1 RISING NEED FOR VOICE AUTHENTICATION IN MOBILE BANKING TO STIMULATE MARKET GROWTH
TABLE 78 BFSI: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 79 BFSI: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 80 BFSI: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 81 BFSI: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 82 BFSI: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 83 BFSI: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 84 BFSI: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 85 BFSI: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 86 BFSI: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 87 BFSI: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.6 GOVERNMENT
9.6.1 INCREASING USE OF SPEECH AND VOICE RECOGNITION SYSTEMS TO IMPROVE EFFICIENCY BOOSTS MARKET GROWTH
FIGURE 46 PROOF-OF-LIFE APPLICATION TO LEAD SPEECH AND VOICE RECOGNITION MARKET FOR GOVERNMENT VERTICAL FROM 2022 TO 2027
TABLE 88 GOVERNMENT: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 89 GOVERNMENT: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 90 GOVERNMENT: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 91 GOVERNMENT: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 92 GOVERNMENT: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 93 GOVERNMENT: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 94 GOVERNMENT: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 95 GOVERNMENT: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 96 GOVERNMENT: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 97 GOVERNMENT: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.7 RETAIL
9.7.1 INCREASING USE OF ADVANCED TECHNOLOGIES BY RETAILERS TO PROVIDE PERSONALIZED EXPERIENCE TO CUSTOMERS SUPPORTS MARKET GROWTH
TABLE 98 RETAIL: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 99 RETAIL: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 100 RETAIL: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 101 RETAIL: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 102 RETAIL: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 103 RETAIL: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 104 RETAIL: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 105 RETAIL: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 106 RETAIL: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 107 RETAIL: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.8 HEALTHCARE
9.8.1 GROWING RELIANCE OF CARE PROVIDERS ON SPEECH AND VOICE RECOGNITION TO AVOID ERRORS, INCREASE PRODUCTIVITY, AND IMPROVE EFFICIENCY OF STAFF TO FUEL MARKET GROWTH
FIGURE 47 SPECIAL-PURPOSE ROBOTS EXPECTED TO REGISTER HIGHER CAGR IN SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE DURING FORECAST PERIOD
TABLE 108 HEALTHCARE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 109 HEALTHCARE: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 110 HEALTHCARE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 111 HEALTHCARE: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 112 HEALTHCARE: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 113 HEALTHCARE: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 114 HEALTHCARE: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 115 HEALTHCARE: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 116 HEALTHCARE: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 117 HEALTHCARE: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.9 MILITARY
9.9.1 ONGOING INNOVATION IN SPEECH RECOGNITION TECHNOLOGY-BASED PRODUCTS TO FACILITATE THEIR DEMAND IN MILITARY APPLICATIONS
TABLE 118 MILITARY: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 119 MILITARY: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 120 MILITARY: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 121 MILITARY: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 122 MILITARY: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 123 MILITARY: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 124 MILITARY: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 125 MILITARY: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 126 MILITARY: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 127 MILITARY: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.10 LEGAL
9.10.1 ELEVATING ADOPTION OF SPEECH AND VOICE RECOGNITION TOOLS BY LAW FIRMS TO FUEL MARKET GROWTH
TABLE 128 LEGAL: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 129 LEGAL: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 130 LEGAL: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 131 LEGAL: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 132 LEGAL: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 133 LEGAL: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 134 LEGAL: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 135 LEGAL: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 136 LEGAL: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 137 LEGAL: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.11 EDUCATION
9.11.1 RISING USE OF SPEECH AND VOICE RECOGNITION TO EDUCATE DISABLED STUDENTS TO CREATE GROWTH OPPORTUNITIES
FIGURE 48 EDUCATION FOR DISABLED & E-LEARNING SEGMENT TO RECORD HIGHER CAGR IN SPEECH AND VOICE RECOGNITION MARKET DURING FORECAST PERIOD
TABLE 138 EDUCATION: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 139 EDUCATION: SPEECH AND VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 140 EDUCATION: SPEECH RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 141 EDUCATION: SPEECH RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 142 EDUCATION: VOICE RECOGNITION MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 143 EDUCATION: VOICE RECOGNITION MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 144 EDUCATION: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 145 EDUCATION: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 146 EDUCATION: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 147 EDUCATION: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
9.12 OTHERS
TABLE 148 OTHERS: SPEECH RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 149 OTHERS: SPEECH RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 150 OTHERS: VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 151 OTHERS: VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
10 SPEECH AND VOICE RECOGNITION MARKET, BY REGION
10.1 INTRODUCTION
FIGURE 49 SPEECH AND VOICE RECOGNITION MARKET SEGMENTATION, BY REGION
FIGURE 50 ASIA PACIFIC TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 51 SPEECH AND VOICE RECOGNITION MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR FROM 2022 TO 2027
TABLE 152 SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 153 SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
10.2 AMERICAS
FIGURE 52 AMERICAS: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT
TABLE 154 AMERICAS: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 155 AMERICAS: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 156 NORTH AMERICA: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 157 NORTH AMERICA: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
10.2.1 NORTH AMERICA
10.2.1.1 US
10.2.1.1.1 Prominent presence of key market players boosts demand for speech and voice recognition technologies
10.2.1.2 Canada
10.2.1.2.1 High deployment of voice-activated biometrics in banking applications to support market growth
10.2.1.3 Mexico
10.2.1.3.1 Strong focus of giant companies on setting up development centers in Mexico to create growth opportunities
10.2.2 SOUTH AMERICA
10.2.2.1 Rapid internet penetration to drive market growth
10.3 EUROPE
FIGURE 53 EUROPE: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT
TABLE 158 EUROPE: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 159 EUROPE: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
10.3.1 UK
10.3.1.1 Strong government support and technological advancements boost market growth
10.3.2 GERMANY
10.3.2.1 Greater reliance on AI and cognitive technologies in enterprises to fuel demand for speech and voice recognition technologies
10.3.3 FRANCE
10.3.3.1 Significant focus on improving air traffic control fosters growth of speech and voice recognition market
10.3.4 REST OF EUROPE
10.4 ASIA PACIFIC
FIGURE 54 ASIA PACIFIC: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT
TABLE 160 ASIA PACIFIC: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 161 ASIA PACIFIC: SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
10.4.1 JAPAN
10.4.1.1 Rapid deployment of Al into innovative robotic devices fuels market growth
10.4.2 CHINA
10.4.2.1 Robust presence of key market players is boosting market growth
10.4.3 INDIA
10.4.3.1 Large-scale technological development and increasing number of mobile and internet users to drive market growth
10.4.4 REST OF ASIA PACIFIC
10.5 ROW
FIGURE 55 SPEECH AND VOICE RECOGNITION MARKET IN ROW, 2022 VS. 2027
TABLE 162 ROW: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 163 ROW: SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2022–2027 (USD MILLION)
10.5.1 MIDDLE EAST
10.5.1.1 Remarkable adoption of voice assistant devices fosters demand for speech and voice recognition technologies
10.5.2 AFRICA
10.5.2.1 Africa to record higher CAGR than Middle East in speech and voice recognition market in RoW from 2022 to 2027
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 REVENUE ANALYSIS OF TOP 5 COMPANIES
FIGURE 56 REVENUE ANALYSIS (USD MILLION), 2017–2021
11.3 KEY PLAYER STRATEGIES/RIGHT TO WIN
TABLE 164 OVERVIEW OF STRATEGIES DEPLOYED BY KEY MANUFACTURERS OF
SPEECH AND VOICE RECOGNITION PRODUCTS
11.4 MARKET SHARE ANALYSIS
TABLE 165 SPEECH AND VOICE RECOGNITION MARKET:
DEGREE OF COMPETITION (2021)
FIGURE 57 MARKET SHARE ANALYSIS: SPEECH AND VOICE
RECOGNITION MARKET, 2021
11.5 COMPANY EVALUATION QUADRANT
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE COMPANIES
11.5.4 PARTICIPANTS
FIGURE 58 SPEECH AND VOICE RECOGNITION MARKET COMPANY EVALUATION QUADRANT, 2021
11.6 STRENGTH OF PRODUCT PORTFOLIO
11.7 BUSINESS STRATEGY EXCELLENCE
11.8 COMPETITIVE BENCHMARKING
TABLE 166 COMPETITIVE BENCHMARKING: SPEECH AND VOICE RECOGNITION MARKET
FIGURE 59 COMPANY VERTICAL FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET
TABLE 167 COMPANY TECHNOLOGY FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET
TABLE 168 COMPANY REGION FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET
11.9 SME EVALUATION QUADRANT FOR SPEECH AND VOICE RECOGNITION MARKET, 2021
11.9.1 PROGRESSIVE COMPANIES
11.9.2 RESPONSIVE COMPANIES
11.9.3 DYNAMIC COMPANIES
11.9.4 STARTING BLOCKS
FIGURE 60 SPEECH AND VOICE RECOGNITION MARKET STARTUP/SME EVALUATION QUADRANT, 2021
11.10 COMPETITIVE SITUATION AND TRENDS
11.10.1 PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 169 PRODUCT LAUNCHES AND DEVELOPMENTS, 2018–2021
11.10.2 DEALS
TABLE 170 DEALS, 2018–2021
12 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, COVID-19 Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
12.1 KEY PLAYERS
12.1.1 APPLE
TABLE 171 APPLE: BUSINESS OVERVIEW
FIGURE 61 APPLE: COMPANY SNAPSHOT
TABLE 172 APPLE: PRODUCTS OFFERED
TABLE 173 APPLE: DEALS
12.1.2 MICROSOFT
TABLE 174 MICROSOFT: BUSINESS OVERVIEW
FIGURE 62 MICROSOFT: COMPANY SNAPSHOT
TABLE 175 MICROSOFT: PRODUCTS OFFERED
TABLE 176 MICROSOFT: PRODUCT LAUNCHES
TABLE 177 MICROSOFT: DEALS
12.1.3 IBM
TABLE 178 IBM: BUSINESS OVERVIEW
FIGURE 63 IBM: COMPANY SNAPSHOT
TABLE 179 IBM: PRODUCT OFFERED
TABLE 180 IBM: PRODUCT LAUNCHES
TABLE 181 IBM: DEALS
12.1.4 ALPHABET
TABLE 182 ALPHABET: BUSINESS OVERVIEW
FIGURE 64 ALPHABET: COMPANY SNAPSHOT
TABLE 183 ALPHABET: PRODUCTS OFFERED
TABLE 184 ALPHABET: PRODUCTS LAUNCHES
TABLE 185 ALPHABET: DEALS
12.1.5 AMAZON
TABLE 186 AMAZON: BUSINESS OVERVIEW
FIGURE 65 AMAZON: COMPANY SNAPSHOT
TABLE 187 AMAZON: PRODUCTS OFFERED
TABLE 188 AMAZON: PRODUCTS LAUNCHES
TABLE 189 AMAZON: DEALS
12.1.6 BAIDU
TABLE 190 BAIDU: BUSINESS OVERVIEW
FIGURE 66 BAIDU: COMPANY SNAPSHOT
TABLE 191 BAIDU: PRODUCTS OFFERED
TABLE 192 BAIDU: PRODUCTS LAUNCHES
TABLE 193 BAIDU: DEALS
12.1.7 IFLYTEK
TABLE 194 IFLYTEK: BUSINESS OVERVIEW
FIGURE 67 IFLYTEK: COMPANY SNAPSHOT
TABLE 195 IFLYTEK: PRODUCTS OFFERED
TABLE 196 IFLYTEK: PRODUCTS LAUNCHES
12.1.8 SPEECH ENABLED SOFTWARE TECHNOLOGIES (SESTEK)
TABLE 197 SESTEK: BUSINESS OVERVIEW
TABLE 198 SESTEK: PRODUCTS OFFERED
TABLE 199 SESTEK: PRODUCTS LAUNCHES
TABLE 200 SESTEK: DEALS
12.1.9 SPEAK2WEB
TABLE 201 SPEAK2WEB: BUSINESS OVERVIEW
TABLE 202 SPEAK2WEB: PRODUCTS OFFERED
12.1.10 VERINT
TABLE 203 VERINT: BUSINESS OVERVIEW
FIGURE 68 VERINT: COMPANY SNAPSHOT
TABLE 204 VERINT: PRODUCTS OFFERED
TABLE 205 VERINT: PRODUCTS LAUNCHES
TABLE 206 VERINT: DEALS
12.1.11 SPEECHMATICS
TABLE 207 SPEECHMATICS: BUSINESS OVERVIEW
TABLE 208 SPEECHMATICS: PRODUCTS OFFERED
TABLE 209 SPEECHMATICS: PRODUCT LAUNCHES
TABLE 210 SPEECHMATICS: DEALS
12.1.12 DEEPGRAM
TABLE 211 DEEPGRAM: BUSINESS OVERVIEW
TABLE 212 DEEPGRAM: PRODUCTS OFFERED
TABLE 213 DEEPGRAM: DEALS
12.1.13 VOICEITT
TABLE 214 VOICEITT: BUSINESS OVERVIEW
TABLE 215 VOICEITT: PRODUCTS OFFERED
12.1.14 VOICEGAIN
TABLE 216 VOICEGAIN: BUSINESS OVERVIEW
TABLE 217 VOICEGAIN: PRODUCTS OFFERED
TABLE 218 VOICEGAIN: PRODUCT LAUNCHES
TABLE 219 VOICEGAIN: DEALS
12.1.15 SENSORY INC.
TABLE 220 SENSORY: BUSINESS OVERVIEW
TABLE 221 SENSORY: PRODUCTS OFFERED
TABLE 222 SENSORY: PRODUCT LAUNCHES
TABLE 223 SENSORY: DEALS
12.1.16 ASSEMBLYAI
TABLE 224 ASSEMBLYAI: BUSINESS OVERVIEW
TABLE 225 ASSEMBLYAI: PRODUCTS OFFERED
TABLE 226 ASEEMBLYAI: DEALS
12.1.17 VERBIT
TABLE 227 VERBIT: BUSINESS OVERVIEW
TABLE 228 VERBIT: PRODUCTS OFFERED
TABLE 229 VERBIT: DEALS
12.1.18 OTTER.AI
TABLE 230 OTTER.AI: BUSINESS OVERVIEW
TABLE 231 OTTER.AI: PRODUCTS OFFERED
TABLE 232 OTTER.AI: PRODUCT LAUNCHES
TABLE 233 OTTER.AI: DEALS
12.1.19 REV
TABLE 234 REV: BUSINESS OVERVIEW
TABLE 235 REV: PRODUCTS OFFERED
12.2 OTHER PLAYERS
12.2.1 RAYTHEON BBN TECHNOLOGIES
12.2.2 M2SYS
12.2.3 M*MODAL
12.2.4 VALIDSOFT
12.2.5 LUMENVOX
12.2.6 ACAPELA GROUP
12.2.7 VOCALZOOM
12.2.8 UNIPHORE SOFTWARE
12.2.9 ISPEECH
12.2.10 GOVIVACE
12.2.11 ADVANCED VOICE RECOGNITION SYSTEMS
12.2.12 DOLBEY
12.2.13 READSPEAKER
12.2.14 PARETEUM CORPORATION
12.2.15 SOUNDHOUND INC.
*Details on Business Overview, Products Offered, Recent Developments, COVID-19 Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
13 APPENDIX
13.1 INSIGHTS FROM INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 AVAILABLE CUSTOMIZATION
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
