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Global Automatic Voice & Speech Recognition Software Market (2021-2026) by Type, Technology, Industry, Deployment, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

  • ID: 5392882
  • Report
  • April 2021
  • Region: Global
  • 170 Pages
  • Infogence Global Research

FEATURED COMPANIES

  • 3M Company
  • Apple Inc
  • Auraya Systems Pty. Ltd.
  • Cisco Systems, Inc.
  • Five9 Inc.
  • Infineon Technologies AG
The Global Automatic Voice & Speech Recognition Software Market is estimated to be USD 14.2 Bn in 2021 and is expected to reach USD 30.67 Bn by 2026, growing at a CAGR of 16.65%.



Market Dynamics


There has been an upsurge in the sales of electrical devices, such as tablets, processors, and smartphones, which have voice & speech recognition software pre-installed in them on account of varying lifestyles, growing internet infiltration, and cumulative consumers devoting on media, showbiz & mobile communication which drives the growth of the market. Numerous creators are improving speech & voice recognition software and launching inventive products to maintain their place in the market.

Administrations around the world have applied rigorous road policies for avoiding the use of mobiles while driving due to escalating road accidents. Therefore, while driving, users now choose to use voice commands to carry out various mobile devices. A huge number of banks are now implementing voice-based authentication solutions for agreeing to contracts because of the growing worry for safety & the need for a strong verification method in mobile banking, which in turn is generating a positive stance for the market.

Though the elevated cost of voice or speech-enabled smart devices and unwillingness to accept smart technologies, mainly in aged customers, is the major hindrance to market growth.

Market Segmentation
The Global Automatic Voice & Speech Recognition Software Market is segmented further based on Type, Technology, Industry, Deployment, and Geography.

By Type, the market is classified as artificial intelligence-based and non-artificial intelligence-based. Amongst all, the artificial intelligence-based segment is estimated to hold the highest market share during the forecast period.

By Technology, the market is classified as speech recognition and voice recognition. Amongst the two, the voice recognition segment is estimated to hold the highest market share during the forecast period.

By Industry, the market is classified as aerospace & defense, automotive & transportation, banking, financial services & insurance, building, construction & real estate, consumer goods & retail, education, energy & utilities, government & public sector, healthcare & life sciences, information technology, manufacturing, media & entertainment, telecommunication, and travel & hospitality. Amongst all, the information technology segment is estimated to hold the highest market share during the forecast period.

By Deployment, the market is classified as on-cloud and on-premises. Amongst the two, the on-cloud segment is estimated to hold the highest market share during the forecast period.

By Geography, North America is projected to lead the market.

Recent Developments

1. Cisco Systems Inc to launch new features for Webex. - 8th June 2021.
2. Five9 launches voice biometrics cloud developer service. - 18th Sep 2020.

Company Profiles

Some of the companies covered in this report are 3M Company, Agnitio S.L, Apple Inc, AT&T Inc., Auraya Systems Pty. Ltd., Brainasoft, etc.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?
  • The report offers a comprehensive evaluation of the Global Automatic Voice & Speech Recognition Software Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains a competitive analysis using the Positioning Quadrants, the analyst’s Proprietary competitive positioning tool.

Report Highlights:
  • A complete analysis of the market, including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the Global Automatic Voice & Speech Recognition Software Market

What is the estimated value of the Global Automatic Voice & Speech Recognition Software Market?

The Global Automatic Voice & Speech Recognition Software Market was estimated to be valued at $14200.0 Million in 2021.

What is the growth rate of the Global Automatic Voice & Speech Recognition Software Market?

The growth rate of the Global Automatic Voice & Speech Recognition Software Market is 16.6%, with an estimated value of $30670.0 Million by 2026.

What is the forecasted size of the Global Automatic Voice & Speech Recognition Software Market?

The Global Automatic Voice & Speech Recognition Software Market is estimated to be worth $30670.0 Million by 2026.

Who are the key companies in the Global Automatic Voice & Speech Recognition Software Market?

Key companies in the Global Automatic Voice & Speech Recognition Software Market include 3M Company, Agnitio S.L, Apple Inc, AT&T Inc, Auraya Systems Pty. Ltd., Brainasoft, Cisco Systems, Inc., Dolbey Systems, Inc and Google LLC.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • 3M Company
  • Apple Inc
  • Auraya Systems Pty. Ltd.
  • Cisco Systems, Inc.
  • Five9 Inc.
  • Infineon Technologies AG

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size and Segmentation
3.3 Market Outlook
4 Market Influencers
4.1 Drivers
4.1.1 Increasing Demand for Biometric Systems
4.1.2 AI Enhancing Speech and Voice Recognition
4.1.3 Rapid Growth of Multifunctional Devices and Smart Speakers
4.1.4 Rise in Number of Voice Control-Based Smart Assistive Devices
4.2 Restraints
4.2.1 High Cost of High-End Technology System
4.2.2 Unreliability in Some Case Where There is Noisy Environment
4.3 Opportunities
4.3.1 High Growth Potential in Healthcare Application
4.3.2 Penetration in the Micro-Linguistics & Local Language Segment
4.3.3 Adoption in Autonomous Cars
4.4 Challenges
4.4.1 Lack of a Standardized Platform
4.4.2 Difficulties in Perpetration in Low Connectivity Areas
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter’s Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 Global Automatic Voice & Speech Recognition Software Market, By Type
6.1 Introduction
6.2 Artificial Intelligence-Based
6.3 Non-Artificial Intelligence-Based
7 Global Automatic Voice & Speech Recognition Software Market, By Technology
7.1 Introduction
7.2 Speech Recognition
7.3 Voice Recognition
8 Global Automatic Voice & Speech Recognition Software Market, By Industry
8.1 Introduction
8.2 Aerospace & Defense
8.3 Automotive & Transportation
8.4 Banking
8.5 Financial Services & Insurance
8.6 Building
8.7 Construction & Real Estate
8.8 Consumer Goods & Retail
8.9 Education
8.10 Energy & Utilities
8.11 Government & Public Sector
8.12 Healthcare & Life Sciences
8.13 Information Technology
8.14 Manufacturing
8.15 Media & Entertainment
8.16 Telecommunication
8.17 Travel & Hospitality
9 Global Automatic Voice & Speech Recognition Software Market, By Deployment
9.1 Introduction
9.2 On-Cloud
9.3 On-Premises
10 Global Automatic Voice & Speech Recognition Software Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 South America
10.3.1 Brazil
10.3.2 Argentina
10.3.3 Chile
10.3.4 Colombia
10.4 Europe
10.4.1 UK
10.4.2 France
10.4.3 Germany
10.4.4 Italy
10.4.5 Spain
10.4.6 Netherlands
10.4.7 Sweden
10.4.8 Russia
10.4.9 Rest of Europe
10.5 Asia-Pacific
10.5.1 China
10.5.2 Japan
10.5.3 India
10.5.4 Indonesia
10.5.5 Malaysia
10.5.6 South Korea
10.5.7 Australia
10.5.8 Sri Lanka
10.5.9 Thailand
10.5.10 Rest of APAC
10.6 Middle-East and Africa
10.6.1 Qatar
10.6.2 Saudi Arabia
10.6.3 South Africa
10.6.4 United Arab Emirates
11 Competitive Landscape
11.1 Competitive Quadrant
11.2 Market Share Analysis
11.3 Strategic Initiatives
11.3.1 M&A and Investments
11.3.2 Partnerships and Collaborations
11.3.3 Product Developments and Improvements
12 Company Profiles
12.1 3M Company
12.2 Agnitio S.L
12.3 Apple Inc
12.4 AT&T Inc
12.5 Auraya Systems Pty. Ltd.
12.6 Brainasoft
12.7 Cisco Systems, Inc.
12.8 Dolbey Systems, Inc
12.9 Five9 Inc.
12.10 Google LLC
12.11 Infineon Technologies AG
12.12 International Business Machines Corporation
12.13 LumenVox LLC.
12.14 Microsoft Corporation
12.15 Nuance Communications, Inc.
12.16 Raytheon Technologies Corporation
12.17 Sensory Inc.
12.18 Validsoft Ltd
12.19 Voice Biometrics Group
12.20 Voxeo Corporation
13 Appendix
13.1 Questionnaire
Note: Product cover images may vary from those shown
  • 3M Company
  • Agnitio S.L
  • Apple Inc
  • AT&T Inc
  • Auraya Systems Pty. Ltd.
  • Brainasoft
  • Cisco Systems, Inc.
  • Dolbey Systems, Inc
  • Five9 Inc.
  • Google LLC
  • Infineon Technologies AG
  • International Business Machines Corporation
  • LumenVox LLC.
  • Microsoft Corporation
  • Nuance Communications, Inc.
  • Raytheon Technologies Corporation
  • Sensory Inc.
  • Validsoft Ltd
  • Voice Biometrics Group
  • Voxeo Corporation
Note: Product cover images may vary from those shown