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Global Voice Recognition Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2018 To 2026

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    Report

  • February 2018
  • Region: Global
  • Acute Market Reports
  • ID: 4575942
Description Jump to:
Voice Recognition Market (By Components (Hardware and Software), By Application (Artificial Intelligence and Non-Artificial Intelligence), By End-Use Vertical (Automobile, BFSI, Consumer, Government, Healthcare, Home, Security & Automation, and Others))- Growth, Share, Opportunities, Competitive Analysis, and Forecast 2018 – 2026, the global voice recognition market is expected to witness a growth of 14.5% CAGR during the forecast period 2018 - 2026.

Product Insights
Voice recognition systems are security solutions used to either grant or deny access to individuals by identifying and matching their voice pattern. The banking and finance sector has been increasingly deploying biometric security solutions for improving security and customer experience. On the other hand, government agencies and enterprises across the globe are adopting biometric technologies for thwarting security threats. Rising incidences of fraudulent activities in various sectors and increased adoption of mobile banking, especially among e-commerce retailers are collectively expected to drive the voice recognition market worldwide. The global voice recognition market is likely to achieve great heights in the coming years due to the advancements in technology and the resulting shift towards automated and smart solutions. Rapid progressions in technology have led to development and growing usage of voice recognition technology for multiple applications. The technology is used across various end-use verticals including healthcare, consumer, BFSI, and automobile among others. Additionally, multitude of research in the field of internet of things (IoT) and artificial intelligence (AI) is further supporting the market growth. However, lack of accuracy, especially in noisy and severe environments, inability to recognize voice in regional accent, and high costs associated with the AI based systems are some of the factors challenging the growth of the voice recognition market.

Competitive Insights:
Major players in the industry have concentrated their efforts on improving their language modeling and recognition algorithms. Advancements in language modeling and recognition algorithms is expected to periodically improve recognition accuracy, thereby driving adoption across different verticals. Some of the major and established players identified in the global voice recognition market 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.

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Table of Contents

1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase III-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted
2. Executive Summary
2.1. Global Voice Recognition Market Snapshot
3. Global Voice Recognition Market Analysis
3.1. Global Voice Recognition Market Overview
3.2. Market Inclination Insights
3.2.1. Recent Trends
3.2.2. Future Outlook
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Challenges
3.4. See-Saw Analysis
3.5. Attractive Investment Proposition
3.6. Market Positioning of Key Industry Participants
3.6.1. Major Strategies Adopted
4. Global Voice Recognition Market Value, By Component , 2018 – 2026 (US$ Bn)
4.1. Market Analysis
4.2. Hardware
4.3. Software
5. Global Voice Recognition Market Value, By Application , 2018 – 2026 (US$ Bn)
5.1. Market Analysis
5.2. Artificial Intelligence
5.3. Non-Artificial Intelligence
6. Global Voice Recognition Market Value, By End-Use Vertical , 2018 – 2026 (US$ Bn)
6.1. Market Analysis
6.2. Automotive
6.3. BFSI
6.4. Consumer
6.5. Government
6.6. Healthcare
6.7. Home, Security & Automation
6.8. Others (Retail, Education, Legal, and Military)
7. North America Voice Recognition Market Analysis, 2018 – 2026 (US$ Bn)
7.1. North America Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
7.1.1. Hardware
7.1.2. Software
7.2. North America Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
7.2.1. Artificial Intelligence
7.2.2. Non-Artificial Intelligence
7.3. North America Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
7.3.1. Automotive
7.3.2. BFSI
7.3.3. Consumer
7.3.4. Government
7.3.5. Healthcare
7.3.6. Home, Security & Automation
7.3.7. Others (Retail, Education, Legal, and Military)
7.4. North America Voice Recognition Market Value, By Country, 2018 – 2026 (US$ Bn)
7.4.1. U.S.
7.4.1.1. U.S. Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
7.4.1.2. U.S. Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
7.4.1.3. U.S. Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
7.4.2. Canada
7.4.2.1. Canada Voice Recognition Market Value, By Product Type, 2018 – 2026 (US$ Bn)
7.4.2.2. Canada Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
7.4.2.3. Canada Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
8. Europe Voice Recognition Market Analysis, 2018 – 2026 (US$ Bn)
8.1. Europe Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
8.1.1. Hardware
8.1.2. Software
8.2. Europe Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
8.2.1. Artificial Intelligence
8.2.2. Non-Artificial Intelligence
8.3. Europe Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
8.3.1. Automotive
8.3.2. BFSI
8.3.3. Consumer
8.3.4. Government
8.3.5. Healthcare
8.3.6. Home, Security & Automation
8.3.7. Others (Retail, Education, Legal, and Military)
8.4. Europe Voice Recognition Market Value, By Region, 2018 – 2026 (US$ Bn)
8.4.1. U.K.
8.4.1.1. U.K. Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
8.4.1.2. U.K. Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
8.4.1.3. U.K. Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
8.4.2. Germany
8.4.2.1. Germany Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
8.4.2.2. Germany Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
8.4.2.3. Germany Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
8.4.3. France
8.4.3.1. France Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
8.4.3.2. France Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
8.4.3.3. France Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
8.4.4. Rest of Europe
8.4.4.1. Rest of Europe Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
8.4.4.2. Rest of Europe Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
8.4.4.3. Rest of Europe Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
9. Asia Pacific Voice Recognition Market Analysis, 2018 – 2026 (US$ Bn)
9.1. Asia Pacific Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
9.1.1. Hardware
9.1.2. Software
9.2. Asia Pacific Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
9.2.1. Artificial Intelligence
9.2.2. Non-Artificial Intelligence
9.3. Asia Pacific Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
9.3.1. Automotive
9.3.2. BFSI
9.3.3. Consumer
9.3.4. Government
9.3.5. Healthcare
9.3.6. Home, Security & Automation
9.3.7. Others (Retail, Education, Legal, and Military)
9.4. Asia Pacific Voice Recognition Market Value, By Country, 2018 – 2026 (US$ Bn)
9.4.1. Japan
9.4.1.1. Japan Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
9.4.1.2. Japan Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
9.4.1.3. Japan Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
9.4.2. China
9.4.2.1. China Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
9.4.2.2. China Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
9.4.2.3. China Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
9.4.3. India
9.4.3.1. India Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
9.4.3.2. India Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
9.4.3.3. India Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
9.4.4. Rest of Asia Pacific
9.4.4.1. Rest of Asia Pacific Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
9.4.4.2. Rest of Asia Pacific Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
9.4.4.3. Rest of Asia Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
10. Rest of World Voice Recognition Market Analysis, 2018 – 2026 (US$ Bn)
10.1. Rest of World Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
10.1.1. Hardware
10.1.2. Software
10.2. Rest of World Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
10.2.1. Artificial Intelligence
10.2.2. Non-Artificial Intelligence
10.3. Rest of World Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
10.3.1. Automotive
10.3.2. BFSI
10.3.3. Consumer
10.3.4. Government
10.3.5. Healthcare
10.3.6. Home, Security & Automation
10.3.7. Others (Retail, Education, Legal, and Military)
10.4. Rest of World Voice Recognition Market Value, By Region, 2018 – 2026 (US$ Bn)
10.4.1. Latin America
10.4.1.1. Latin America Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
10.4.1.2. Latin America Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
10.4.1.3. Latin America Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
10.4.2. Middle-East and Africa
10.4.2.1. Middle-East and Africa Voice Recognition Market Value, By Component, 2018 – 2026 (US$ Bn)
10.4.2.2. Middle-East and Africa Voice Recognition Market Value, By Application, 2018 – 2026 (US$ Bn)
10.4.2.3. Middle East & Africa Voice Recognition Market Value, By End-Use Vertical, 2018 – 2026 (US$ Bn)
11. Company Profiles
11.1. Acapela Group
11.2. Advanced Voice Recognition Systems
11.3. Agnitio SL
11.4. Apple, Inc.
11.5. AT&T
11.6. Biotrust
11.7. Fluent.ai Inc.
11.8. LumenVox LLC
11.9. M2Sys LLC
11.10. Microsoft Inc.
11.11. MMODAL Inc.
11.12. Nuance Communications
11.13. Raytheon BBN Technologies
11.14. Sensor, Inc.
11.15. ValidSoft UK Ltd.
11.16. VoiceBox Technologies Corp.
List of Figures
FIG. 1 Global Voice Recognition: Market Segmentation
FIG. 2 Global Voice Recognition Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global Voice Recognition Market, By Component, 2017 (US$ Bn)
FIG. 5 Global Voice Recognition Market, By Application, 2017 (US$ Bn)
FIG. 6 Global Voice Recognition Market, By End-Use Vertical, 2017 (US$ Bn)
FIG. 7 Global Voice Recognition Market, By Geography, 2017 (US$ Bn)
FIG. 8 Global Voice Recognition Market Value and Growth, 2018 - 2026, (US$ Bn and % Y-o-Y)
FIG. 9 See-Saw Analysis : Global Voice Recognition Market
FIG. 10 Market Positioning of Key Industry Participants, 2017
FIG. 11 Global Voice Recognition Market Value Contribution, By Component, 2017 & 2025 (Value %)
FIG. 12 Global Hardware Voice Recognition Market Value and Growth, 2018 - 2026, (US$ Bn)
FIG. 13 Global Software Voice Recognition Market Value and Growth, 2018 - 2026, (US$ Bn)
FIG. 14 Global Voice Recognition Market Value Contribution, By Application, 2017 & 2026 (Value %)
FIG. 15 Global Voice Recognition Market Value and Growth for Artificial Intelligence Applications, 2018 - 2026, (US$ Bn)
FIG. 16 Global Voice Recognition Market Value and Growth for Non-Artificial Intelligence Applications, 2018 - 2026, (US$ Bn)
FIG. 17 Global Voice Recognition Market Value Contribution, By End-Use Vertical, 2017 & 2026 (Value %)
FIG. 18 Global Voice Recognition Market Value and Growth for Automotives Vertical, 2018 - 2026, (US$ Bn)
FIG. 19 Global Voice Recognition Market Value and Growth for BFSI Vertical, 2018 - 2026, (US$ Bn)
FIG. 20 Global Voice Recognition Market Value and Growth for Consumer Vertical, 2018 - 2026, (US$ Bn)
FIG. 21 Global Voice Recognition Market Value and Growth for Government Vertical, 2018 - 2026, (US$ Bn)
FIG. 22 Global Voice Recognition Market Value and Growth for Healthcare Vertical, 2018 - 2026, (US$ Bn)
FIG. 23 Global Voice Recognition Market Value and Growth for Home, Security & Automation Vertical, 2018 - 2026, (US$ Bn)
FIG. 24 Global Voice Recognition Market Value and Growth for Others, 2018 - 2026, (US$ Bn)
FIG. 25 North America Voice Recognition Market Value and Growth, 2018 - 2026, (US$ Bn) (Y-o-Y %)
FIG. 26 Europe Voice Recognition Market Value and Growth, 2018 - 2026, (US$ Bn) (Y-o-Y %)
FIG. 27 Asia Pacific Voice Recognition Market Value and Growth, 2018 - 2026, (US$ Bn) (Y-o-Y %)
FIG. 28 RoW Voice Recognition Market Value and Growth, 2018– 2026, (US$ Bn) (Y-o-Y %)
List of Tables
TABLE 1 Market Snapshot: Global Voice Recognition Market
TABLE 2 Evolution of Voice Recognition
TABLE 3 Impact Indicators
TABLE 4 Impact Analysis of Drivers and Restraints
TABLE 5 North America Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 6 North America Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 7 North America Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 8 North America Voice Recognition Market Value, By Country, 2018 - 2026 (US$ Bn)
TABLE 9 U.S. Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 10 U.S. Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 11 U.S. Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 12 Canada Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 13 Canada Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 14 Canada Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 15 Europe Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 16 Europe Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 17 Europe Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 18 Europe Voice Recognition Market Value, By Country, 2018 - 2026 (US$ Bn)
TABLE 19 U.K. Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 20 U.K. Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 21 U.K. Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 22 France Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 23 France Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 24 France Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 25 Germany Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 26 Germany Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 27 Germany Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 28 Rest of Europe Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 29 Rest of Europe Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 30 Rest of Europe Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 31 Asia Pacific Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 32 Asia Pacific Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 33 Asia Pacific Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 34 Asia Pacific Voice Recognition Market Value, By Country, 2018 - 2026 (US$ Bn)
TABLE 35 China Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 36 China Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 37 China Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 38 Japan Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 39 Japan Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 40 Japan Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 41 India Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 42 India Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 43 India Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 44 Rest of Asia Pacific Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 45 Rest of Asia Pacifc Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 46 Rest of Asia Pacific Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 47 Rest of World Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 48 Rest of World Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 49 Rest of World Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 50 Rest of World Voice Recognition Market Value, By Region, 2018 - 2026 (US$ Bn)
TABLE 51 Latin America Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 52 Latin America Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 53 Latin America Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)
TABLE 54 Middle-East and Africa Voice Recognition Market Value, By Component, 2018 - 2026 (US$ Bn)
TABLE 55 Middle-East Voice Recognition Market Value, By Application, 2018 - 2026 (US$ Bn)
TABLE 56 Middle-East Voice Recognition Market Value, By End-Use Vertical, 2018 - 2026 (US$ Bn)

Samples

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Companies Mentioned

  • Acapela Group

  • Advanced Voice Recognition Systems

  • Agnitio SL

  • Apple, Inc.

  • AT&T

  • Biotrust

  • Fluent.ai Inc.

  • LumenVox LLC

  • M2Sys LLC

  • Microsoft Inc.

  • MMODAL Inc.

  • Nuance Communications

  • Raytheon BBN Technologies

  • Sensor, Inc.

  • ValidSoft UK Ltd.

  • VoiceBox Technologies Corp.

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