The global Voice Recognition Software market is expected to reach $ 31.82 billion by 2025, according to a new report from Grandview Research, Inc., which shows a CAGR of 16 % over the forecast period. Demand for voice activated systems, voice enabled devices and voice assisted virtual assist systems is expected to increase in the future due to increased applications in the banking and automotive sectors. With the growing need to address fraudulent activities and strengthen banking security, the adoption of voice biometrics for user authentication is accelerating.
Speech recognition is also a key technology widely used in the medical field to improve the electronic health record system by allowing doctors to record and record instead of manual typing or writing. In 2017, the medical field is the voice and speech recognition software market.
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Top key player profiled in this report: e-speaking, nuance, talktyper, microsoft, google, speechgear, digitalsyphon, Brainasoft, Speechlogger, lilyspeech
Despite the fact that merchants tend to concentrate more on progress on the software side in the form of software-defined models and SaaS, retailers are still vigorously hardware-centered and intend to keep up their own particular data center assets so they can remain in control over their IT, meet information security consistency pre requisites and can better oversee service levels.
Existing frameworks frequently require upgrading so they can deal with new sorts of workloads, and connections with public cloud resources need to get coordinated so that these can be overseen from a solitary platform in a protected and effective way.
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Key findings from the report
- Growing interest in the development of artificial intelligence-based systems is expected to drive market growth during the forecast period.
- Deploying voice recognition solutions in the consumer and retail sectors will expand the overall market. Changing the lifestyle of many countries, including the United States, Germany, and the United Kingdom, is driving the deployment of voice and speech recognition software.
- The growing adoption of smart electronics in India, China, Japan and Brazil is expected to drive demand for consumer verticals for voice and speech recognition software. Leveraging in-depth learning algorithms for voice and voice solutions for better search results is expected to benefit the market.
- In 2017, the North American market represented 35.0% of total sales.
- Apple, Inc.; Facebook, Inc.; Baidu, Inc.; Amazon, Inc.; Alphabet, Inc. is accelerating growth in the US and Chinese markets.
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To conclude, contemplation of the noteworthy enactment of the Global Voice Recognition Software Market is driven by various analysis tools and wide-ranging research reports. Citations are engaged to mount clear results and validate them.
Table of Contents
Global Voice Recognition Software Market Research Report
Chapter 1 Voice Recognition Software Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Market Forecast