DUBLIN--(BUSINESS WIRE)--The "Global Speech and Voice Recognition Market by Deployment Mode (On-Cloud, On-Premises/Embedded), Technology (Speech Recognition, Voice Recognition), Vertical, and Geography (Americas, Europe, Asia Pacific, Rest of the World) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global speech and voice recognition market is projected to grow from USD 9.4 Billion in 2022 to USD 28.1 Billion by 2027, it is expected to grow at a CAGR of 24.4% from 2022 to 2027.
Companies Mentioned
- Alphabet
- Amazon
- Apple
- Applied Materials
- Assembly.ai
- ATT Metrology Services
- Automated Precision
- Baidu
- Baker Hughes
- Bruker
- Cairnhill Metrology
- Carl Zeiss
- Carmar Accuracy
- Creaform
- CyberOptics
- DeepGram
- Faro Technologies
- GOM
- Hexagon
- IBM
- iFlytek
- Intertek
- Jenoptik
- JLM Advanced Technical Services
- KLA-Tencor
- Metrologic Group
- Microsoft
- Mitutoyo Corporation
- Nikon Metrology
- Otter.ai
- Perceptron
- Precision Products
- Renishaw
- rev.com
- Sensory
- SGS Group
- Speechmatics
- TriMet Group
- Verbit
- Voicegain
- VoiceITT
Extensive penetration of speech and voice recognition technologies in smart appliances
The demand for smart homes and smart appliances is increasing owing to various factors, including the growing internet penetration, rapid technological advancements, and increased focus on home automation to achieve security and convenience.
The COVID-19 pandemic has also prompted the use of smart devices and appliances in almost every aspect of daily life. People are encouraged to work from home, leading to high demand for speech and voice recognition technology-based products.
Manufacturers of smart appliances are adding the voice recognition feature to their products to enable users to control all their appliances from a single speech and voice recognition technology-based product.
The demand for products such as Alexa, Cortana, and Siri, has increased significantly. Samsung Electronics (South Korea), a leading manufacturer of smart appliances, has introduced the Smart Things app with inbuilt voice recognition technology to allow users to control all the appliances in the house with single voice commands.
Several other manufacturers, such as Whirlpool and Philips, have similar voice-activated control solutions. As consumers move toward automation, the demand for speech and voice recognition technology-based products is also likely to increase.
APAC is the fastest-growing region in the speech and voice recognition market
The speech and voice recognition market in Asia Pacific is expected to grow at the highest CAGR from 2022 to 2027 owing to technological advancements, improved awareness regarding the benefits of these technologies among the masses, and the low cost of speech and voice recognition devices. China, Japan, and India are the key countries in the Asia Pacific region for the speech and voice recognition market. Baidu (China) and iFlytek (China) are the top two companies in the region operating in the speech and recognition market.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Premium Insights
5. Market Overview
5.1. Introduction
5.2. Market Dynamics
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.2.4. Challenges
5.3. Value Chain Analysis
5.4. Porter's Five Forces Analysis
5.5. Average Selling Pricing Analysis
5.6. Trade Analysis
5.7. Ecosystem Analysis
5.8. Case Study Analysis
5.9. Patent Analysis
5.10. Technology Analysis
5.11. Codes and Standards
5.12. Tariff Analysis
5.13. Regulatory Bodies, Government Agencies & Other Organizations
5.14. Revenue Shift
5.15. Key Conferences and Events in 2022-2023
5.16. Key Stakeholder and Buying and/or Buying Criteria
5.16.1. Key Stakeholders in Buying Process
5.16.2. Buying Criteria
6. Speech and Voice Recognition Market, by Delivery Method
6.1. Introduction
6.2. Artificial Intelligence-based
6.3. Non-Artificial Intelligence-based
7. Market, by Technology
8. Speech and Voice Recognition Market, by Deployment Mode
9. Market, by Vertical
10. Speech and Voice Recognition Market, by Geography
11. Competitive Landscape
11.1. Introduction
11.2. Top 5 Company Revenue Analysis
11.3. Strategies Adopted by Key Players
11.4. Market Share Analysis
11.5. Company Evaluation Matrix
11.5.1. Star
11.5.2. Pervasive
11.5.3. Emerging Leaders
11.6. Strength of Product Portfolio
11.7. Business Strategy Excellence
11.8. Small and Medium Enterprises (SME) Evaluation Quadrant
11.8.1. Progressive Companies
11.8.2. Responsive Companies
11.8.3. Dynamic Companies
11.8.4. Starting Blocks
11.9. Competitive Situation and Trends
11.10. Competitive Benchmarking
12. Company Profiles
12.1. Introduction
12.2. Key Companies
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/8esh6c
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