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Speech and Voice Recognition Market with COVID-19 Impact Analysis by Delivery Method, Deployment Mode (On Cloud, On-Premises/Embedded), Technology (Speech Recognition, Voice Recognition), Vertical and Geography - Global Forecast to 2026

  • ID: 5415408
  • Report
  • August 2021
  • Region: Global
  • 220 Pages
  • Markets and Markets
The Speech and Voice Recognition Market is Expected to Grow from USD 8.3 Billion in 2021 to USD 22.0 Billion by 2026 at a CAGR of 21.6%

FEATURED COMPANIES

  • Acapela Group
  • Apple
  • Cantab Research
  • IBM
  • LumenVox
  • Microsoft

The speech and voice recognition market is expected to grow from USD 8.3 billion in 2021 to USD 22.0 billion by 2026; it is expected to grow at a CAGR of 21.6% during the forecast period. The major driving factors for the growth of the speech and voice recognition market include an increase in the use of smart appliances and the use of artificial intelligence technology to boost the accuracy of speech and voice recognition systems.


In terms of deployment mode on-premises to grow with the highest CAGR from 2021 to 2026

The on-premises/embedded segment is expected to witness high growth owing to the recent advancement of speech and voice recognition as a multifactor authentication system in BFSI and other enterprise applications, where on-premises voice recognition is used for a high degree of consumer data security. On-premises speech and voice recognition systems can be easily deployed with company data management and CRM software. An on-premises/embedded speech and voice recognition system has no formatting or coding issues while accessing databases.

Consumer vertical of the speech and voice recognition market is expected to have the largest market share during the forecast period.

Mobile device authentication and control of wearable devices using voice commands are expected to drive the speech and voice recognition market. Alphabet (US), Apple (US), and Microsoft (US) are leveraging their huge customer base and neural networks to process, understand, and take decisive actions based on real-time voice inputs from the user. The introduction of voice-based smart devices in the consumer sector has led to the launch of many innovative products in the market. The continuous decline in the cost of voice and speech devices, software developments, and relevant content developments are also driving the market for speech and voice recognition. The increasing demand for intelligent virtual assistant smart speakers with voice capabilities is expected to be a prominent driver for the speech and voice recognition market for the consumer vertical during the forecast period.

APAC to grow at highest CAGR during the forecast period

The market in APAC is expected to grow during the forecast period. The growing focus on artificial intelligence (AI) in industries and enterprises is also expected to contribute toward the growth of the voice recognition market in Asia Pacific during the forecast period. Increasing digitalization and government policies favoring digitalization and technological innovations are also expected to drive the growth of the market in the APAC region.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the speech and voice recognition market. 

Following is the breakup of the profiles of primary participants for the report.

  • By Company Type: Tier 1 - 27 %, Tier 2 - 41%, and Tier 3 - 32%
  • By Designation: C-Level Executives - 26%, Managers - 40%, and Others - 34%
  • By Region: North America- 47%, Europe - 28%, APAC - 19%, and RoW - 6%

The report profiles key players in the speech and voice recognition market and analyzes their market shares. Players profiled in this report are Apple (US), Microsoft (US), Amazon (US), Alphabet (US), IBM(US), CANTAB Research (UK), Sensory (US), Baidu (China), iFLYTEK (China) and SESTEK (Turkey), Raytheon BBN Technologies (US), Speak2web (US), M2SYS(US), M*Modal (US), VoiceVault(US), ValidSoft(UK), LumenVox(US), Acapela Group (Belgium), VocalZoom (Israel), BioTrust ID (Netherlands), Uniphore Software (India), iSpeech (US), GoVivace (US), Advance Voice Recognition System (US) and Dolbey (US).

Research Coverage

This report segments the speech and voice recognition market based on delivery method, technology, deployment mode, vertical, and region. It also describes major drivers, restraints, challenges, and opportunities about this market, as well as includes market share analysis, value chain analysis, porter’s five forces analysis, trade analysis, ecosystem, technological trends, pricing analysis, key patents, standards and frameworks, and case studies/use cases.

Reasons to Buy This Report

The report will help leaders/new entrants in the speech and voice recognition market in the following ways:

  • The report segments the speech and voice recognition market comprehensively and provides the closest market size estimation for all subsegments across regions.
  • The report will help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities about the speech and voice recognition market.
  • The report will help stakeholders understand their competitors better and gain insights to improve their position in the speech and voice recognition market. The competitive landscape section describes the competitor ecosystem.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Acapela Group
  • Apple
  • Cantab Research
  • IBM
  • LumenVox
  • Microsoft

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.2.1 Inclusions and Exclusions
1.3 Summary of Changes
1.4 Scope of the Study
1.4.1 Markets Covered
1.4.2 Geographic Scope
1.4.3 Years Considered for the Study
1.5 Currency
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
Figure 1 Process Flow: Speech and Voice Recognition Market Size Estimation
Figure 2 Market: Research Design
2.1.1 Secondary and Primary Research
Figure 3 Research Approach
2.1.2 Secondary Data
2.1.2.1 Secondary Sources
2.1.2.2 Key Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Sources
2.1.3.2 Key Industry Insights
2.1.3.3 Primary Interviews with Experts
2.1.3.4 List of Key Primary Respondents
2.1.3.5 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Arriving at Market Size by Bottom-Up Analysis
Figure 4 Market: Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing Market Size by Top-Down Analysis
Figure 5 Market: Top-Down Approach
2.3 Market Breakdown and Data Triangulation
Figure 6 Data Triangulation
2.4 Research Assumptions
2.5 Limitations
2.6 Risk Assessment
Table 1 Risk Assessment

3 Executive Summary
3.1 Speech and Voice Recognition Market: Post COVID-19
3.1.1 Realistic Scenario
Figure 7 Realistic Scenario: Market, 2017-2026 (USD Billion)
3.1.2 Pessimistic Scenario
Figure 8 Pessimistic Scenario: Market, 2017-2026 (USD Billion)
3.1.3 Optimistic Scenario
Figure 9 Optimistic Scenario: Market, 2017-2026 (USD Billion)
Figure 10 Impact of COVID-19 on Market
Figure 11 Speech Recognition to Account for Larger Market Share During Forecast Period
Figure 12 on Cloud Deployment Mode to Dominate During Forecast Period
Figure 13 Consumer Vertical to Dominate Market During Forecast Period
Figure 14 Americas Held Largest Market Share in 2020

4 Premium Insights
4.1 Attractive Growth Opportunities in Speech and Voice Recognition Market
Figure 15 Increasing Demand for Speech and Voice Recognition in APAC to Drive Market Growth
4.2 Market, by Technology
Figure 16 Voice Recognition to Register Higher CAGR During Forecast Period
4.3 Market, by Deployment Type
Figure 17 on Cloud Segment Dominated Market in 2020
4.4 Market in Americas, by Country and Technology
Figure 18 US and Speech Recognition Segments to Hold Largest Shares of Market in Americas by 2026
4.5 Market, by Vertical
Figure 19 Consumer Vertical to Exhibit Highest CAGR from 2021 to 2026
4.6 Market, by Country (2021)
Figure 20 US to Hold Largest Share of Market in 2021

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 21 Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Increasing Penetration of Speech and Voice Recognition Technology in Smart Appliances
Figure 22 Voice Assistant Sales by Key Brands in Year 2020
5.2.1.2 Growing Use of Speech and Voice Recognition Technology for Transcription
5.2.1.3 High Demand for Speech-Based Biometric Systems for Multifactor Authentication
Figure 23 Data Breach Complaints in the US (2018-2020)
5.2.1.4 Rising Demand for Voice Authentication in Mobile Banking Applications
Figure 24 Use of Speech Recognition Can Prevent Identity Theft in Banking and Finance
5.2.1.5 Use of Artificial Intelligence (Ai) to Boost Accuracy of Speech and Voice Recognition Systems
Figure 25 Drivers for Market and Their Impact
5.2.2 Restraints
5.2.2.1 Concerns Regarding Data Privacy and Security
5.2.2.2 High Cost of High-End Voice Recognition Systems
5.2.2.3 Huge Investment in Technology Development Keeps Out Small Players
Figure 26 Restraints for Speech and Voice Recognition Market and Their Impact
5.2.3 Opportunities
5.2.3.1 Creation of a More Personalized Experience for Users
5.2.3.2 Integration of Speech and Voice Recognition Technology with Mobile Applications
5.2.3.3 Development of Speech and Voice Recognition Software for Micro-Linguistics and Local Languages
5.2.3.4 Application of Speech and Voice Recognition in Service Robotics
5.2.3.5 Use of Speech and Voice Recognition Technology to Aid Education of Disabled Students
5.2.3.6 Increasing Role of Speech and Voice Recognition Technology in Autonomous Cars
5.2.3.7 Growing Consumer Preference for Technologically Advanced Products
Figure 27 Opportunities for Market and Their Impact
5.2.4 Challenges
5.2.4.1 Increased Errors Due to Background Noise
5.2.4.2 Lack of Standardized Platform for Development of Customized Products
5.2.4.3 Slow Network Speeds Pose a Challenge to Cloud-Based Speech Recognition Services
Figure 28 Challenges for Market and Their Impact

6 Industry Analysis
6.1 Value Chain Analysis
Figure 29 Value Chain Analysis: Market
6.2 Ecosystem
Figure 30 Market: Ecosystem
Table 2 Market: Ecosystem
6.2.1 Revenue Shift in Speech and Voice Recognition Market
Figure 31 Revenue Shift in Market
6.3 Patent Analysis
Figure 32 Companies with Highest Number of Patent Applications in Last 10 Years
Figure 33 Annual Number of Patents Granted Over Last 10 Years
Table 3 Top 20 Patent Owners (Us) in Last 10 Years
6.4 Trade Analysis
Figure 34 Import Data of Sound Recording or Sound Reproducing Apparatus, by Country, 2016-2020 (USD Thousand)
Table 4 Import Data of Sound Recording or Sound Reproducing Apparatus, by Country, 2016-2020 (USD Thousand)
Figure 35 Export Data of Sound Recording or Sound Reproducing Apparatus, by Country, 2016-2020 (USD Thousand)
Table 5 Export Data of Sound Recording or Sound Reproducing Apparatus, by Country, 2016-2020 (USD Thousand)
6.5 Tariff Analysis
Table 6 Tariff Rate for Sound Recording or Sound Reproducing Apparatus Exported by the Netherlands in 2020
Table 7 Tariff Rate for Sound Recording or Sound Reproducing Apparatus Exported by China in 2020
Table 8 Tariff Rate for Sound Recording or Sound Reproducing Apparatus Exported by the UK in 2020
Table 9 Tariff Rate for Sound Recording or Sound Reproducing Apparatus Exported by the US in 2020
Table 10 Tariff Rate for Sound Recording or Sound Reproducing Apparatus Exported by Germany in 2020
6.6 Case Study Analysis
6.6.1 Speech Recognition Technology Helps Retailer Boost First Call Resolution Rate at Contact Center
6.6.2 Workload of Agents at Bank's Contact Center Significantly Reduces
6.6.3 Translator App Facilitates Multilingual Parent-Teacher Communication
6.6.4 Bradesco Offers Customers Quicker Response Time with Watson
6.6.5 Voice Recognition Product Helps Enhance Patient Experience
6.7 Porter's Five Forces Analysis
Table 11 Speech and Voice Recognition Market: Porter's Five Forces Analysis, 2020
6.7.1 Threat of New Entrants
6.7.2 Threat of Substitutes
6.7.3 Bargaining Power of Buyers
6.7.4 Bargaining Power of Suppliers
6.7.5 Degree of Competition
6.8 Technology Analysis
6.8.1 Microsoft Allows Users Control Over Use of Voice Clips to Improve Speech Recognition Algorithm
6.8.2 Apple Develops Ai Model for Automatic Speech Transcription and Speaker Recognition
6.8.3 Speechmatics Launches Speech Recognition Service on Microsoft Azure
6.8.4 Crescendo Speech Processing Software Offers Multilingual Support
6.8.5 Facebook's Ai Open Source Provides New Dataset for Speech Recognition
6.9 Key Regulations for Market
Table 12 Key Regulations: Market
6.10 Pricing Analysis

7 Speech and Voice Recognition, by Delivery Method
7.1 Introduction
Figure 36 Delivery Methods in Speech and Voice Recognition
7.2 Artificial Intelligence-Based
7.2.1 Ai-Based Recognition Segment Expected to Account for Larger Market During Forecast Period
7.3 Non-Artificial Intelligence-Based
7.3.1 Non-Ai-Based Systems Offer Industry-Leading Accuracy, Security, and Consistency

8 Speech and Voice Recognition Market, by Technology
8.1 Introduction
Figure 37 Market Segmentation, by Technology
Figure 38 Market to Grow at Higher Rate During Forecast Period
Table 13 Market, by Technology, 2017-2020 (USD Million)
Table 14 Market, by Technology, 2021-2026 (USD Million)
8.2 Voice Recognition
8.2.1 Facilitates Contactless Interface During and Post Pandemic
Table 15 Market, by Region, 2017-2020 (USD Million)
Table 16 Market, by Region, 2021-2026 (USD Million)
8.2.2 Speaker Identification
8.2.2.1 Growing New Age Technologies Boost Need for Speaker Identification
8.2.3 Speaker Verification
8.2.3.1 Increasingly Used by Banks for Security Purposes
8.3 Speech Recognition
8.3.1 Multilingual Speech Recognition to Increase Scope of Applications
Table 17 Speech Recognition Market, by Region, 2017-2020 (USD Million)
Table 18 Speech Recognition Market, by Region, 2021-2026 (USD Million)
8.3.2 Automatic Speech Recognition
8.3.2.1 Significant Advancements in Technology in Recent Years
8.3.3 Text-To-Speech
8.3.3.1 Popular Assistive Technology for Reading and Writing
Figure 39 Automatic Speech Recognition to Hold Larger Size of Speech Recognition Market During Forecast Period
Table 19 Speech Recognition Market, by Type, 2017-2020 (USD Million)
Table 20 Speech Recognition Market, by Type, 2021-2026 (USD Million)

9 Speech and Voice Recognition Market, by Deployment Mode
9.1 Introduction
Figure 40 Deployment Modes in Speech & Voice Recognition
Figure 41 on Cloud Speech and Voice Recognition Segment to Hold Major Market Share Between 2021 and 2026
Table 21 Market, by Deployment Mode, 2017-2020 (USD Million)
Table 22 Market, by Deployment Mode, 2021-2026 (USD Million)
9.2 on Cloud
9.2.1 Expected to Account for Larger Market Share During Forecast Period
Table 23 Market for on Cloud, by Region, 2017-2020 (USD Million)
Table 24 Speech and Voice Recognition Market for on Cloud, by Region, 2021-2026 (USD Million)
9.3 On-Premises/Embedded
9.3.1 Projected to Witness Higher Growth During Forecast Period
Table 25 Market for On-Premises/Embedded, by Region, 2017-2020 (USD Million)
Table 26 Market for On-Premises/Embedded, by Region, 2021-2026 (USD Million)

10 Speech and Voice Recognition Market, by Vertical
10.1 Introduction
Figure 42 Consumer Vertical to Grow at Highest Rate During Forecast Period
Table 27 Market, by Vertical, 2017-2020 (USD Million)
Table 28 Market, by Vertical, 2021-2026 (USD Million)
Figure 43 Government Vertical to Hold Highest Share of Voice Recognition Market During Forecast Period
Table 29 Market, by Vertical, 2017-2020 (USD Million)
Table 30 Market, by Vertical, 2021-2026 (USD Million)
Figure 44 Consumer Vertical to Hold Highest Share of Speech Recognition Market During Forecast Period
Table 31 Speech Recognition Market, by Vertical, 2017-2020 (USD Million)
Table 32 Speech Recognition Market, by Vertical, 2021-2026 (USD Million)
10.2 Automotive
10.2.1 Increasing Use of Speech and Voice Recognition Technology in Cars
Figure 45 Vehicle Insurance Market to Record Higher Growth Rate During Forecast Period
Table 33 Market for Automotive, by Application, 2017-2020 (USD Million)
Table 34 Speech and Voice Recognition Market for Automotive, by Application, 2021-2026 (USD Million)
Table 35 Speech Recognition Market for Automotive, by Application, 2017-2020 (USD Million)
Table 36 Speech Recognition Market for Automotive, by Application, 2021-2026 (USD Million)
Table 37 Market for Automotive, by Application, 2017-2020 (USD Million)
Table 38 Market for Automotive, by Application, 2021-2026 (USD Million)
Table 39 Speech Recognition Market for Automotive, by Region, 2017-2020 (USD Million)
Table 40 Speech Recognition Market for Automotive, by Region, 2021-2026 (USD Million)
Table 41 Voice Recognition Market for Automotive, by Region, 2017-2020 (USD Million)
Table 42 Market for Automotive, by Region, 2021-2026 (USD Million)
10.3 Enterprises
10.3.1 Growing Adoption of Virtual Assistants Post Pandemic to Boost Market
10.3.2 Market for Enterprises: COVID-19 Impact
Figure 46 Impact of COVID-19 on Market for Enterprises
Table 43 Post-COVID-19: Market for Enterprises, 2017-2026 (USD Million)
Table 44 Market for Enterprises, by Application, 2017-2020 (USD Million)
Table 45 Speech and Voice Recognition Market for Enterprises, by Application, 2021-2026 (USD Million)
Table 46 Speech Recognition Market for Enterprises, by Application, 2017-2020 (USD Million)
Table 47 Speech Recognition Market for Enterprises, by Application, 2021-2026 (USD Million)
Table 48 Market for Enterprises, by Application, 2017-2020 (USD Million)
Table 49 Market for Enterprises, by Application, 2021-2026 (USD Million)
Table 50 Speech Recognition Market for Enterprises, by Region, 2017-2020 (USD Million)
Table 51 Speech Recognition Market for Enterprises, by Region, 2021-2026 (USD Million)
Table 52 Market for Enterprises, by Region, 2017-2020 (USD Million)
Table 53 Voice Recognition Market for Enterprises, by Region, 2021-2026 (USD Million)
10.4 Consumer
10.4.1 Growth in Number of Voice Control-Based Smart Assistive Devices
10.4.2 Market for Consumer: COVID-19 Impact
Figure 47 Impact of COVID-19 on Market for Consumer
Table 54 Post-COVID-19: Market for Consumer, 2017-2026 (USD Million)
Figure 48 Mobile Device Control Segment to Have Larger Market Share
Table 55 Market for Consumer, by Application, 2017-2020 (USD Million)
Table 56 Market for Consumer, by Application, 2021-2026 (USD Million)
Table 57 Speech Recognition Market for Consumer, by Application, 2017-2020 (USD Million)
Table 58 Speech Recognition Market for Consumer, by Application, 2021-2026 (USD Million)
Table 59 Market for Consumer, by Application, 2017-2020 (USD Million)
Table 60 Voice Recognition Market for Consumer, by Application, 2021-2026 (USD Million)
Table 61 Speech Recognition Market for Consumer, by Region, 2017-2020 (USD Million)
Table 62 Speech Recognition Market for Consumer, by Region, 2021-2026 (USD Million)
Table 63 Market for Consumer, by Region, 2017-2020 (USD Million)
Table 64 Market for Consumer, by Region, 2021-2026 (USD Million)
10.5 Banking, Financial Services and Insurance (bfsi)
10.5.1 Growing Demand for Voice Authentication in Mobile Banking Applications
Table 65 Speech and Voice Recognition Market for Banking, Financial Services and Insurance, by Application, 2017-2020 (USD Million)
Table 66 Market for Banking, Financial Services and Insurance, by Application, 2021-2026 (USD Million)
Table 67 Speech Recognition Market for Banking, Financial Services and Insurance, by Application, 2017-2020 (USD Million)
Table 68 Speech Recognition Market for Banking, Financial Services and Insurance, by Application, 2021-2026 (USD Million)
Table 69 Market for Banking, Financial Services and Insurance, by Application, 2017-2020 (USD Million)
Table 70 Market for Banking, Financial Services and Insurance, by Application, 2021-2026 (USD Million)
Table 71 Speech Recognition Market for Banking, Financial Services and Insurance, by Region, 2017-2020 (USD Million)
Table 72 Speech Recognition Market for Banking, Financial Services and Insurance, by Region, 2021-2026 (USD Million)
Table 73 Market for Banking, Financial Services and Insurance, by Region, 2017-2020 (USD Million)
Table 74 Voice Recognition Market for Banking, Financial Services and Insurance, by Region, 2021-2026 (USD Million)
10.6 Government
10.6.1 Increasing Use of Speech and Voice Recognition Systems for Multiple Tasks
Figure 49 Proof of Life to Have Larger Market Share During Forecast Period
Table 75 Market for Government, by Application, 2017-2020 (USD Million)
Table 76 Market for Government, by Application, 2021-2026 (USD Million)
Table 77 Speech Recognition Market for Government, by Application, 2017-2020 (USD Million)
&Nnbsp; Table 78 Speech Recognition Market for Government, by Application, 2021-2026 (USD Million)
Table 79 Market for Government, by Application, 2017-2020 (USD Million)
Table 80 Market for Government, by Application, 2021-2026 (USD Million)
Table 81 Speech Recognition Market for Government, by Region, 2017-2020 (USD Million)
Table 82 Speech Recognition Market for Government, by Region, 2021-2026 (USD Million)
Table 83 Market for Government, by Region, 2017-2020 (USD Million)
Table 84 Voice Recognition Market for Government, by Region, 2021-2026 (USD Million)
10.7 Retail
10.7.1 Use of Speech and Voice Recognition to Create More Personalized Experience
Table 85 Speech and Voice Recognition Market for Retail, by Application, 2017-2020 (USD Million)
Table 86 Market for Retail, by Application, 2021-2026 (USD Million)
Table 87 Speech Recognition Market for Retail, by Application, 2017-2020 (USD Million)
Table 88 Speech Recognition Market for Retail, by Application, 2021-2026 (USD Million)
Table 89 Market for Retail, by Application, 2017-2020 (USD Million)
Table 90 Market for Retail, by Application, 2021-2026 (USD Million)
Table 91 Speech Recognition Market for Retail, by Region, 2017-2020 (USD Million)
Table 92 Speech Recognition Market for Retail, by Region, 2021-2026 (USD Million)
Table 93 Market for Retail, by Region, 2017-2020 (USD Million)
Table 94 Voice Recognition Market for Retail, by Region, 2021-2026 (USD Million)
10.8 Healthcare
10.8.1 Increasing Use of Speech and Voice Recognition to Avoid Errors and Improve Efficiency
10.8.2 Market for Healthcare: COVID-19 Impact
Figure 50 Impact of COVID-19 on Market for Healthcare
Table 95 Post-COVID-19: Market for Healthcare, 2017-2026 (USD Million)
Figure 51 Special Purpose Robots Segment Expected to Record Higher CAGR During Forecast Period
Table 96 Market for Healthcare, by Application, 2017-2020 (USD Million)
Table 97 Market for Healthcare, by Application, 2021-2026 (USD Million)
Table 98 Speech Recognition Market for Healthcare, by Application, 2017-2020 (USD Million)
Table 99 Speech Recognition Market for Healthcare, by Application, 2021-2026 (USD Million)
Table 100 Market for Healthcare, by Application, 2017-2020 (USD Million)
Table 101 Market for Healthcare, by Application, 2021-2026 (USD Million)
Table 102 Speech Recognition Market for Healthcare, by Region, 2017-2020 (USD Million)
Table 103 Speech Recognition Market for Healthcare, by Region, 2021-2026 (USD Million)
Table 104 Voice Recognition Market for Healthcare, by Region, 2017-2020 (USD Million)
Table 105 Market for Healthcare, by Region, 2021-2026 (USD Million)
10.9 Military
10.9.1 Innovation in Speech Recognition to Improve Military Operations
Table 106 Market for Military, by Application, 2017-2020 (USD Million)
Table 107 Market for Military, by Application, 2021-2026 (USD Million)
Table 108 Speech Recognition Market for Military, by Application, 2017-2020 (USD Million)
Table 109 Speech Recognition Market for Military, by Application, 2021-2026 (USD Million)
Table 110 Market for Military, by Application, 2017-2020 (USD Million)
Table 111 Voice Recognition Market for Military, by Application, 2021-2026 (USD Million)
Table 112 Speech Recognition Market for Military, by Region, 2017-2020 (USD Million)
Table 113 Speech Recognition Market for Military, by Region, 2021-2026 (USD Million)
Table 114 Market for Military, by Region, 2017-2020 (USD Million)
Table 115 Market for Military, by Region, 2021-2026 (USD Million)
10.10 Legal
10.10.1 Adoption of Speech and Voice Recognition Tools Results in Increased Productivity
Table 116 Speech and Voice Recognition Market for Legal, by Application, 2017-2020 (USD Million)
Table 117 Market for Legal, by Application, 2021-2026 (USD Million)
Table 118 Speech Recognition Market for Legal, by Application, 2017-2020 (USD Million)
Table 119 Speech Recognition Market for Legal, by Application, 2021-2026 (USD Million)
Table 120 Market for Legal, by Application, 2017-2020 (USD Million)
Table 121 Market for Legal, by Application, 2021-2026 (USD Million)
Table 122 Speech Recognition Market for Legal, by Region, 2017-2020 (USD Million)
Table 123 Speech Recognition Market for Legal, by Region, 2021-2026 (USD Million)
Table 124 Market for Legal, by Region, 2017-2020 (USD Million)
Table 125 Market for Legal, by Region, 2021-2026 (USD Million)
10.11 Education
10.11.1 Use of Speech and Voice Recognition Technology to Educate Disabled Students
Figure 52 Language Learning Segment Expected to Record Higher CAGR During Forecast Period
Table 126 Speech Recognition Market for Education, by Application, 2017-2020 (USD Million)
Table 127 Voice Recognition Market for Education, by Application, 2021-2026 (USD Million)
Table 128 Speech Recognition Market for Education, by Application, 2017-2020 (USD Million)
Table 129 Speech Recognition Market for Education, by Application, 2021-2026 (USD Million)
Table 130 Market for Education, by Application, 2017-2020 (USD Million)
Table 131 Market for Education, by Application, 2021-2026 (USD Million)
Table 132 Speech Recognition Market for Education, by Region, 2017-2020 (USD Million)
Table 133 Speech Recognition Market for Education, by Region, 2021-2026 (USD Million)
Table 134 Market for Education, by Region, 2017-2020 (USD Million)
Table 135 Market for Education, by Region, 2021-2026 (USD Million)
10.12 Others
Table 136 Speech Recognition Market for Other Verticals, by Region, 2017-2020 (USD Million)
Table 137 Speech Recognition Market for Other Verticals, by Region, 2021-2026 (USD Million)
Table 138 Market for Other Verticals, by Region, 2017-2020 (USD Million)
Table 139 Voice Recognition Market for Other Verticals, by Region, 2021-2026 (USD Million)

11 Speech and Voice Recognition Market, by Geography
11.1 Introduction
Figure 53 Market Segment by Geography
Figure 54 Market Share by Region
Figure 55 Market in APAC to Record Highest CAGR from 2021 to 2026
Table 140 Market, by Region, 2017-2020 (USD Million)
Table 141 Market, by Region, 2021-2026 (USD Million)
11.2 Americas
Figure 56 Americas: Speech Recognition Market Snapshot
11.2.1 Market in Americas: COVID-19 Impact
Figure 57 Impact of COVID-19 on Speech Recognition Market in Americas
Table 142 Post-COVID-19: Voice Recognition Market in Americas, 2017-2026 (USD Million)
Table 143 Market in Americas, by Country, 2017-2020 (USD Million)
Table 144 Speech and Voice Recognition Market in Americas, by Country, 2021-2026 (USD Million)
11.2.2 US
11.2.2.1 Growing Number of Innovative Startups to Boost Demand for Speech and Voice Recognition
11.2.3 Canada
11.2.3.1 Deployment of Voice Biometrics Technology in Banking Industry to Enhance Security Levels
11.2.4 Rest of Americas
11.2.4.1 Increased Digitalization to Drive Market Growth
11.3 Europe
Figure 58 Europe: Market Snapshot
Table 145 Market in Europe, by Country, 2017-2020 (USD Million)
Table 146 Market in Europe, by Country, 2021-2026 (USD Million)
11.3.1 UK
11.3.1.1 Huge Funding and Collaboration Increase Market Growth
11.3.2 Germany
11.3.2.1 Greater Dependence on Ai and Cognitive Technologies in Enterprises
11.3.3 France
11.3.3.1 Significant Improvement in Air Traffic Control Drives Growth of Speech and Voice Recognition Market
11.3.4 Rest of Europe
11.4 APAC
Figure 59 APAC: Voice Recognition Market Snapshot
11.4.1 Market in APAC: COVID-19 Impact
Figure 60 Impact of COVID-19 on Market in APAC
Table 147 Post-COVID-19: Market in APAC, 2017-2026 (USD Million)
Table 148 Market in APAC, by Country, 2017-2020 (USD Million)
Table 149 Market in APAC, by Country, 2021-2026 (USD Million)
11.4.2 Japan
11.4.2.1 Use of Speech and Voice Recognition in Automotive Industry Fuels Market Growth
11.4.3 China
11.4.3.1 Significant Investment by Government and Private Organizations Boosts Market
11.4.4 India
11.4.4.1 Large-Scale Technological Development and Increasing Mobile and Internet Penetration to Drive Market Growth
11.4.5 Rest of APAC
11.5 RoW
Figure 61 Snapshot: Speech and Voice Recognition Market in RoW
Table 150 Market in RoW, by Region, 2017-2020 (USD Million)
Table 151 Market in RoW, by Region, 2021-2026 (USD Million)
11.5.1 Middle East
11.5.1.1 Cautious Adoption of Speech and Voice Recognition Solutions
11.5.2 Africa
11.5.2.1 Banks Collaborating with Software Providers to Implement Voice Recognition

12 Competitive Landscape
12.1 Introduction
12.2 Revenue Analysis of Top 5 Companies
Figure 62 Revenue Analysis (USD Billion), 2016-2020
12.3 Market Share Analysis
Table 152 Voice Recognition Market: Degree of Competition (2020)
Figure 63 Market Share Analysis: Market 2020
12.4 Company Evaluation Quadrant
12.4.1 Star
12.4.2 Emerging Leader
12.4.3 Pervasive
12.4.4 Participant
Figure 64 Speech and Voice Recognition Market Company Evaluation Quadrant, 2020
12.4.5 Company Footprint
Table 153 Company Footprint: Market
Figure 65 Company Vertical Footprint: Market
Table 154 Company Technology Footprint: Market
Table 155 Company Region Footprint: Market
12.5 SME Evaluation Quadrant for Speech Recognition Market, 2020
12.5.1 Progressive Companies
12.5.2 Responsive Companies
12.5.3 Dynamic Companies
12.5.4 Starting Blocks
Figure 66 Speech and Voice Recognition Market Startup/SME Evaluation Quadrant, 2020
12.6 Competitive Situation and Trends
12.6.1 Product Launches and Developments
Table 156 Product Launches and Developments, 2019-2020
12.6.2 Deals
Table 157 Deals, 2019-2020

13 Company Profiles
13.1 Key Players
Business Overview, Products/Services/Solutions Offered, Analyst's View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments
13.1.1 Apple
Table 158 Apple: Business Overview
Figure 67 Apple: Company Snapshot
13.1.2 Microsoft
Table 159 Microsoft: Business Overview
Figure 68 Microsoft: Company Snapshot
13.1.3 IBM
Table 160 Ibm: Business Overview
Figure 69 IBM: Company Snapshot
13.1.4 Alphabet
Table 161 Alphabet: Business Overview
Figure 70 Alphabet: Company Snapshot
13.1.5 Amazon
Table 162 Amazon: Business Overview
Figure 71 Amazon: Company Snapshot
13.1.6 Sensory
Table 163 Sensory: Business Overview
13.1.7 Cantab Research
Table 164 Cantab Research: Business Overview
13.1.8 Baidu
Table 165 Baidu: Business Overview
Figure 72 Baidu: Company Snapshot
13.1.9 Iflytek
Table 166 Iflytek: Business Overview
13.1.10 Speech Enabled Software Technologies (Sestek)
Table 167 Sestek: Business Overview
Business Overview, Products/Services/Solutions Offered, Analyst's View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments Might Not be Captured in Case of Unlisted Companies.
13.2 Other Players
13.2.1 Raytheon BBN Technologies
13.2.2 Speak2Web
13.2.3 M2Sys
13.2.4 M*Modal
13.2.5 Voicevault
13.2.6 Validsoft
13.2.7 LumenVox
13.2.8 Acapela Group
13.2.9 Vocalzoom
13.2.10 Biotrust Id
13.2.11 Uniphore Software
13.2.12 Ispeech
13.2.13 Govivace
13.2.14 Advanced Voice Recognition Systems
13.2.15 Dolbey

14 Appendix
14.1 Insights of Industry Experts
14.2 Discussion Guide
14.3 Knowledge Store: Subscription Portal
14.4 Available Customizations
14.5 Related Reports
14.6 Author Details

Note: Product cover images may vary from those shown
  • Acapela Group
  • Advanced Voice Recognition Systems
  • Alphabet
  • Amazon
  • Apple
  • Baidu
  • Biotrust Id
  • Cantab Research
  • Dolbey
  • Govivace
  • IBM
  • Iflytek
  • Ispeech
  • LumenVox
  • M*Modal
  • M2Sys
  • Microsoft
  • Raytheon BBN Technologies
  • Sensory
  • Speak2Web
  • Speech Enabled Software Technologies (Sestek)
  • Uniphore Software
  • Validsoft
  • Vocalzoom
  • Voicevault
Note: Product cover images may vary from those shown

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