Voice and Speech Recognition Market by Function (Voice Recognition, and Speech Recognition) By Technology (AI-Based, and Non-AI Based) By Vertical Outlook (Automotive, BFSI, Consumer, Education, Enterprise, Government, Healthcare, Legal, Military, Retail, and Others); By Geography (North America, Asia-Pacific, Europe, South America, and RoW), Industry Trends, Estimation & Forecast, 2018 – 2026

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The Global Voice and Speech Recognition market is expected to reach $33.4 billion by 2026, with a projected CAGR of 18.6% during the forecast period.
  • Market Overview

    The Global Voice and Speech Recognition market is expected to reach $33.4 billion by 2026, with a projected CAGR of 18.6% during the forecast period. Voice and speech recognition are a part of the biometric systems. Voice recognition is termed as the recognition of a definite voice, or in other words, who is speaking. Voice recognition is generally referred to as voice verification or biometrics. Speech recognition, on the other hand, is the recognition of definite words or what is being spoken — therefore it does not matter which voice it is, as long as the system can identify the word that is spoken.

    Market Dynamics

    High growth potential in healthcare application, rising demand for voice authentication in mobile banking applications, high growth potential in healthcare application, and rapid proliferation of multifunctional devices or smart speakers are the major factors driving the growth of the global voice and speech recognition market. However, lack of accuracy of these technologies in recognizing regional accents and dialects may restrain the market from growing. Moreover, development of voice and speech recognition software for micro-linguistics and local languages, and growing consumer acceptance/preferences for technologically advanced products is likely to gain significant impetus for the voice and speech recognition market share in the coming years.

    Market Segmentation

    The study provides a crucial view of the voice and speech recognition by segmenting the market based on the function, technology, vertical outlook and geography. The function segment includes voice recognition, and speech recognition. By technology segment, the segmentation comprises of AI-based, and non-AI based. Automotive, BFSI, consumer, education, enterprise, government, healthcare, legal, military, retail, and others are the classification of the vertical outlook segment. Furthermore, geographical coverage has been offered for each of the major regions including North America, Asia-Pacific, Europe, Row, and South America.

    Scope of the Global Voice and Speech Recognition Market

    By Function

    • Voice Recognition
    • Speech Recognition

    By Technology

    • AI-Based
    • Non-AI Based

    By Vertical Outlook

    • Automotive
    • BFSI
    • Consumer
    • Education
    • Enterprise
    • Government
    • Healthcare
    • Legal
    • Military
    • Retail
    • Others

    By Geography

    • North America
      • The U.S.
      • Canada
      • Mexico
    • Europe
      • UK
      • France
      • Germany
      • Italy
      • Spain
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
      • Korea
      • Rest of APAC
    • South America
      • Brazil
      • Rest of South America
    • Rest of the World
      • Middle East
      • Africa
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  • TABLE OF CONTENTS

    Chapter 1 Introduction
    1.1 Executive Summary
    1.2 Market Definition
    1.3 Market Scope

    Chapter 2 Research Methodology
    2.1 Primary Research
    2.2 Research Methodology
    2.3 Assumptions & Exclusions
    2.4 Secondary Data Functions

    Chapter 3 Market Overview
    3.1 Report Segmentation & Scope
    3.2 Key Market Trends
    3.2.1 Drivers
    3.2.2 Restraints
    3.2.3 Opportunities
    3.3 Porter’s Five Forces Analysis
    3.4 Market Share Analysis

    Chapter 4 Global Voice and Speech Recognition Market by Function: Market Size and Forecast, 2018 – 2026
    4.1 Introduction
    4.1.1 Market Size and Forecast
    4.2 Voice Recognition
    4.2.1 Market Size and Forecast
    4.3 Speech Recognition
    4.3.1 Market Size and Forecast

    Chapter 5 Global Voice and Speech Recognition Market by Technology: Market Size and Forecast, 2018 – 2026
    5.1 Introduction
    5.1.1 Market Size and Forecast
    5.2 AI-Based
    5.2.1 Market Size and Forecast
    5.3 Non-AI Based
    5.3.1 Market Size and Forecast

    Chapter 6 Global Voice and Speech Recognition Market by Vertical Outlook: Market Size and Forecast, 2018 – 2026
    6.1 Introduction
    6.1.1 Market Size and Forecast
    6.2 Automotive
    6.2.1 Market Size and Forecast
    6.3 BFSI
    6.3.1 Market Size and Forecast
    6.4 Consumer
    6.4.1 Market Size and Forecast
    6.5 Education
    6.5.1 Market Size and Forecast
    6.6 Enterprise
    6.6.1 Market Size and Forecast
    6.7 Government
    6.7.1 Market Size and Forecast
    6.8 Healthcare
    6.8.1 Market Size and Forecast
    6.9 Legal
    6.9.1 Market Size and Forecast
    6.10 Military
    6.10.1 Market Size and Forecast
    6.11 Retail
    6.11.1 Market Size and Forecast
    6.12 Others
    6.12.1 Market Size and Forecast

    Chapter 7 Global Voice and Speech Recognition Market by Geography: Market Size and Forecast, 2018 – 2026
    7.1 Introduction
    7.1.1 Market Size and Forecast
    7.2 North America
    7.2.1 North America Market Size & Forecast, By Country
    7.2.2 North America Market Size & Forecast, By Function
    7.2.3 North America Market Size & Forecast, By Technology
    7.2.4 North America Market Size & Forecast, By Vertical Outlook
    7.2.5 The U.S.
    7.2.5.1 Market Size and Forecast
    7.2.6 Canada
    7.2.6.1 Market Size and Forecast
    7.2.7 Mexico
    7.2.7.1 Market Size and Forecast
    7.3 Europe
    7.3.1 Europe Market Size and Forecast, By Country
    7.3.2 Europe Market Size and Forecast, By Function
    7.3.3 Europe Market Size and Forecast, By Technology
    7.3.4 Europe Market Size and Forecast, By Vertical Outlook
    7.3.5 UK
    7.3.5.1 Market Size and Forecast
    7.3.6 Germany
    7.3.6.1 Market Size and Forecast
    7.3.7 France
    7.3.7.1 Market Size and Forecast
    7.3.8 Italy
    7.3.8.1 Market Size and Forecast
    7.3.9 Spain
    7.3.9.1 Market Size and Forecast
    7.3.10 Rest of Europe
    7.3.10.1 Market Size and Forecast
    7.4 Asia-Pacific
    7.4.1 Asia-Pacific Market Size and Forecast, By Country
    7.4.2 Asia-Pacific Market Size and Forecast, By Function
    7.4.3 Asia-Pacific Market Size and Forecast, By Technology
    7.4.4 Asia-Pacific Market Size and Forecast, By Vertical Outlook
    7.4.5 India
    7.4.5.1 Market Size and Forecast
    7.4.6 China
    7.4.6.1 Market Size and Forecast
    7.4.7 Australia
    7.4.7.1 Market Size and Forecast
    7.4.8 Japan
    7.4.8.1 Market Size and Forecast
    7.4.9 South Korea
    7.4.9.1 Market Size and Forecast
    7.4.10 Rest of Asia-Pacific
    7.4.10.1 Market Size and Forecast
    7.5 South America
    7.5.1 South America Market Size and Forecast, By Country
    7.5.2 South America Market Size and Forecast, By Function
    7.5.3 South America Market Size and Forecast, By Technology
    7.5.4 South America Market Size and Forecast, By Vertical Outlook
    7.5.5 Brazil
    7.5.5.1 Market Size and Forecast
    7.5.6 Rest of South America
    7.5.6.1 Market Size and Forecast
    7.6 RoW
    7.6.1 RoW Market Size and Forecast, By Country
    7.6.2 RoW Market Size and Forecast, By Function
    7.6.3 RoW Market Size and Forecast, By Technology
    7.6.4 RoW Market Size and Forecast, By Vertical Outlook
    7.6.5 Middle East
    7.6.5.1 Market Size and Forecast
    7.6.6 Africa
    7.6.6.1 Market Size and Forecast

    Chapter 8 Company Profiles
    8.1 Microsoft Inc.
    8.2 Nuance Communications
    8.3 M2SyS LLC
    8.4 Advanced Voice Recognition Systems
    8.5 Sensory Inc.
    8.6 MMODAL Inc.
    8.7 LumenVox LLC.
    8.8 VoiceBox Technologies Corp.
    8.9 Agnitio S.L
    8.10 Biotrust
    8.11 ValidSoft UK Limited

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  • Voice and Speech Recognition Market Key Players

    • Microsoft Inc.
    • Nuance Communications
    • M2SyS LLC
    • Advanced Voice Recognition Systems
    • Sensory Inc.
    • MMODAL Inc.
    • LumenVox LLC.
    • VoiceBox Technologies Corp.
    • Agnitio S.L
    • Biotrust
    • ValidSoft UK Limited
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