About Speech & Voice Recognition
Speech and speech recognition form a smaller part of biometric systems. Speech recognition refers to the process of converting spoken words into digitally modified and stored phrases using telephones and microphones. The speed at which it measures how well the software matches a human speaker and the accuracy with which it measures the number of mistakes made in converting spoken words into digitized data are the two parameters that determine the Assess the quality of a speech recognition system. The speech recognition system analyzes the identity of the speaker behind a particular voice. It analyzes the voice between different speakers by examining the behavior patterns of different people, such as: Examines the subject's pitch, speaking style, accent, and others, and also examines the subject's mouth and throat shape and size.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Speech & Voice Recognition market throughout the forecasted period. 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 (United States), Microsoft Corporation (United States), Alphabet Inc. (United States), Sensory Inc. (United States), Cantab Research (United Kingdom), Readspeaker Holding (Netherlands), Pareteum Corporation (United States), iFlytek (China), Voicevault (United States) and Voicebox Technologies (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Lumenvox (United States) and Acapela Group (Belgium).
Segmentation Overview
AMA Research has segmented the market of Global Speech & Voice Recognition market by Type (Speech Recognition [Automatic Speech Recognition, Text to Speech] and Voice Recognition [Speaker Identification, Speaker Verification]), Application (Government, Retail, Medical, Military, Education and Other) and Region.
On the basis of geography, the market of Speech & Voice Recognition has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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). If we see Market by Deployment Type, the sub-segment i.e. On Cloud will boost the Speech & Voice Recognition market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Artificial Intelligence Based will boost the Speech & Voice Recognition market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Impact of AI on the Accuracy of Speech and Voice Recognition and Large Scale Implementation of Biometric Systems Owing To Increasing Security Concerns
Market Growth Drivers:
High Growth Potential in Healthcare Application, Growing Demand for Voice Authentication in Mobile Banking Application and Rapid Proliferation of Multifunctional Devices or Smart Speakers
Challenges:
Lack of Efficient Training to Recognize Different Voices
Restraints:
Impaired Speech and Lack of Accuracy and Leading To Error in Data Processing
Opportunities:
Adoption of Voice and Speech Recognition Techniques in Other Consumer Electronics Devices and Investment in Research and Development for Automated Speech Recognition Systems
Key Target Audience
Providers of Speech & Voice Recognition, Potential Technology Investors, Regulatory & Government Bodies, End Users, Downstream Vendors 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.