About Medical Speech Recognition
Any technology that allows speaking what you wish to type is considered medical speech recognition. Directly on the screen is the spoken dictation. The use of this technology is helpful since it enables quicker data research, contributes to the improvement of daily operations, and encourages patients to adopt healthier practices. Clinicians may generate, document, amend, and sign electronic documents simultaneously, which decreases the number of clicks required to use an EHR, the frequency of errors, and the time spent dictating. Additionally, records no longer need to be rewritten or transcribed in order to be sent to another office. This is a crucial benefit if a patient needs to be transported.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The players are focusing on investing more in Launching New Technologies. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Nuance Communications Inc. (United States), Microsoft (United States), Amazon (United States), Infermedica (Poland), Sensly (United States), eGain Corporation (United States), Kognito Solutions LLC (United States), Verint Systems Inc. (United States), HealthTap Inc. (United States) and Babylon Healthcare Services Ltd (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Medical Speech Recognition market by Type (Front-end Medical Speech Recognition and Back-end Medical Speech Recognition), Application (Hospital, Clinic and Others) and Region.
On the basis of geography, the market of Medical Speech Recognition has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Advancements in Technologies of the Healthcare Sector
Market Growth Drivers:
Increasing Application of the Medical Speech Recognition in the Health Industry and The Popularity of Machine Learning and Internet of Things
Challenges:
Lack of Awareness among New Technologies
Restraints:
Availability of the Alternative Solutions and High Cost Associated with the Medical Speech Recognition Devices
Opportunities:
Investment in Healthcare Sector can create Opportunities for the Market Growth
On 8th June 2021, Voiceitt launched State-of-the-Art Speech Recognition App. The Voiceitt app is available for free individual download as well as bulk download by institutions, nursing homes, and organizations. The assistive technology software enables people to navigate their environments and manage smart home devices using their own voice commands, and it will be made available for free at launch for a brief time.
Key Target Audience
Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.