Voice Recognition Market By End-Use Vertical (Automobile, BFSI, Consumer, Government, Healthcare, Home, Security & Automation) - Growth, Future Prospects & Competitive Analysis, 2018 - 2026

Overview:

The global voice recognition market has been witnessing an incremental growth over the last few years and is poised to register steady gains during the forecast period 2018 - 2026. The global voice recognition market is expected to witness a growth of 14.5% CAGR during the forecast from 2018 to 2026. The anticipated growth can be majorly credited to increasing number of fraudulent activities, especially in the BFSI industry, and growing adoption of biometric sensor technologies across different end-use industries. The voice recognition market is also estimated to grow with rising demand for smart home concept. Increasing security concerns is propelling the demand for home automation and security products, which, in turn is expected to contribute towards market expansion over the forecast period. The technology is increasingly used for producing health related data records in the healthcare sector, which, consequently is improving its prominence in the medical domain. The voice recognition technology is of great advantage to the automobile industry & is majorly used in the autonomous vehicles and semi-autonomous vehicles. The use and integration of the voice recognition technology is gaining popularity in the automobile industry due to stringent regulations that restricts usage of mobile phones while driving. Thus, voice recognition systems enables drivers as well as passengers a safe, hassle-free driving experience. The trend shall prolong as market continues to evolve, offering significant growth and investment opportunities for manufacturers during the forecast period 2018 – 2026. All these factors are collectively expected to contribute towards a double digit CAGR during the forecast period (2018 – 2026).

Voice Recognition Market

The global voice recognition market is classified into following categories:

  • By Components:
    • Hardware
    • Software
  • By Application
    • Artificial Intelligence
    • Non-Artificial Intelligence
  • By End-Use Vertical
    • Automobile
    • BFSI
    • Consumer
    • Government
    • Healthcare 
    • Home, Security & Automation
    • Others (Retail, Education, Legal, and Military)
  • By Region
    • North America
      • The U.S.
      • Rest of North America
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific (APAC)
      • India
      • China
      • Japan
      • Rest of APAC
    • Rest of the World
      • Latin America
      • Middle East and Africa

The research report “Global Voice Recognition Market – Growth, Future Prospects and Competitive Analysis, 2018 – 2026” gives in-depth insights on the global voice recognition market in addition to the market size and estimates from 2016 to 2026. The study divides the global voice recognition market based on components, application, and end-use vertical, thereby offering the cross-sectional analysis for the said segments for different geographic regions. It offers a complete insight on market dynamics including the on-going challenges, market drivers, and opportunities for different value chain participants in the market. Furthermore, the research report provides insights on the major trends prevalent in the market.

To assist tactical decision and investors in making strategic decisions, the study presents the prevailing competitive landscape and profiles major voice recognition solution providers, their product benchmarking, financial health, key business strategies adopted, and major developments. Major players profiled in the research study include Nuance Communications, Advanced Voice Recognition Systems, Microsoft Inc., Apple, Inc., MMODAL Inc., Sensor, Inc., Biotrust, Agnitio SL, ValidSoft UK Ltd., VoiceBox Technologies Corp., Raytheon BBN Technologies, M2Sys LLC, and LumenVox LLC among others.

Other key insights offered by the research study includes:

  • Relational analysis of sub-segments for 2017 and 2026
  • Historic years market sizing (2016 & 2017)
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Published Date:  Feb 2018
Category:  Technology & Media
Report ID:   58994
Report Format:   PDF
Pages:   120
Rating:    4.2 (28)
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