Global Speech and Voice Recognition Market is expected to reach USD 6,770.21 Million by 2025 from USD 1,095.00 Million in 2017, at a CAGR of 25.7% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Segmentation: Global Speech and Voice Recognition Market
Global Speech and Voice Recognition Market
• By Technology (Artificial Intelligence Based Software, Traditional Software),
• Product Type (Speech Recognition Software, Voice Recognition Software),
• Deployment (Cloud Based, On Premise),
• Industry (Entertainment & Mobile Apps, Banking, Healthcare, Automobiles, Analytics, Security, Education & Academics),
• Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
Request For Sample - https://databridgemarketresearch.com/request-a-sample/?dbmr=global-speech-voice-recognition-market-2
Drivers: Global Speech and Voice Recognition Market
One of the major factor driving the market for speech and voice recognition market growing demand for voice authentication in mobile applications. This factor led to the increase the demand for speech and voice recognition products. Effective integration due to increased demand for voice and speech-based biometric systems and use of artificial intelligence (AI) on the accuracy of speech and voice recognition are the other factor driving the growth of the speech and voice recognition market.
INCREASING DEMAND FOR VOICE AUTHENTICATION IN MOBILE APPLICATIONS
The network connectivity and computing power in automobiles, mobile phones, and other mobile devices has led to an eruption of applications and services for consumers. Applications such as Maps, navigation, the arrival of social networking sites such as Twitter and Facebook, email, web search, games, and music and video content posed many user interface challenges to designers. For instance, during the travel time the users are not always able to keep their eyes and hands on the device at certain places and situations such as, working out at the health club, and while driving a car.
To overcome these challenges, the developers have then decided to improve the user’s experience, by designing predictive text, touchscreens, and speech technology. Speech technologies such as speech recognition has been in use for mobile applications.
Request For TOC - https://databridgemarketresearch.com/toc/?dbmr=global-speech-voice-recognition-market-2
INCREASED DEMAND FOR VOICE AND SPEECH-BASED BIOMETRIC SYSTEMS
The speech-based biometric are progressively increasing in society. Due to arrival of speech-based biometric systems the user need not to remember password or a PIN. A voice-based biometric systems converts each spoken word into numerous dominant frequencies. The wave that is formed by a user’s speech produces an electrical signal output from the microphone.
The application of this technology is mainly for security use in banking and trading, e-Commerce, insurance use, health use, network security. The companies that are developing voice and speech based biometric systems are Microsoft that deals in application namely Azure for speaker recognition, Uniphore, Nuance Communication, VoiceVault, Sensory and among others.
Voice biometric technology for authentication purpose is considered as convenient and accurate. The rapid development and increased usage of automated applications for finances and E-commerce has increased the concern over reliability, high-security, and non-intrusive methods for personal authentication. Speaker recognition technology is one of the technologies included in analysing and modelling the voiceprints is now playing a vital role in the society
Major Players: Global Speech and Voice Recognition Market
Some of the major players operating in this market are
• Nuance Communications, Inc.,
• Microsoft,
• HOYA Corporation,
• Raytheon,
• Advanced Voice Recognition Systems, Inc.,
• Pareteum,
• Sensory, Inc.,
• IFLYTEK CO. LTD.,
• VoiceVault Inc.,
• LumenVox, LLC.,
• Acapela Group SA,
• VocalZoom,
• BioTrust,
• Uniphore,
• Voicebox Technologies Corporation
• and Cantab Research Limited among others.
Inquiry Before Buying - https://databridgemarketresearch.com/inquire-before-buying/?dbmr=global-speech-voice-recognition-market-2
About Us:
Data bridge Market Research is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune. We ponder into the heterogeneous markets in accord with our client’s needs and scoop out the best possible solutions and detailed information about the market trends. Data Bridge delve into the markets across Asia, North America, South America, Africa to name few
Contact Us:
Data Bridge Market Research
Toll Free: +1-888-387-2818
Email - [email protected]