GVR Report cover Voice And Speech Recognition Market Size, Share & Trends Report

Voice And Speech Recognition Market Size, Share & Trends Analysis Report By Function (Speech, Voice Recognition), By Technology (Artificial Intelligence Based, Non-Artificial Intelligence Based), By Vertical (Healthcare, BFSI), And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-1-68038-094-1
  • Number of Pages: 100
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2023
  • Industry: Technology

Market Size & Trends

The global voice and speech recognition market size was valued at USD 20.25 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 14.9% from 2023 to 2030. The market is anticipated to be driven by technological advancements and the rising adoption of advanced electronic devices. Voice-activated biometrics used for security purposes help in providing access to authenticated users for performing a transaction. The growing use of voice biometrics is among the major factors driving the market growth. The increasing demand for voice-driven navigation systems and workstations is impelling growth in the hardware and software segments.

North America voice and speech recognition market size, by technology, 2020 - 2030 (USD Million)

The integration of voice-enabled in-car infotainment systems is gaining popularity across the globe as several countries initiate “hands-free” regulations that govern the use of mobile phones while driving. The developers of voice and speech products are focusing on innovations, which are expected to accelerate the market growth over the forecast period. The use of voice recognition technology in smartphones enables doctors and clinicians to translate their voice into a rich, detailed clinical description, which is recorded in the Electronic Health Record (EHR) system. The increasing penetration of voice-enabled IoT devices in smart home automation is expected to drive the market in the near future. IoT-enabled devices would benefit a number of traditionally offline devices with innovative means of user interactions in addition to traditional means, such as touch screens and buttons.

Market Concentration and Characteristics

The voice and speech recognition market is considered to have a high degree of innovation with the increasing adoption of technological advancements driven by factors such as AI, ML, IoT, and the increasing use of voice-based authentication in smartphones. Subsequently, innovative technologies and applications are constantly emerging, disrupting existing ones and creating new ones.

Voice And Speech Recognition Market Concentration & Characteristics

Key competitors in the voice and speech recognition market are increasingly engaging in merger and acquisition (M&A) transactions. Major players aim to enhance their portfolios by integrating complementary technologies, increasing the demand in healthcare for improving efficiency, and the growing use of advanced smart appliances in a rapidly growing market, and these activities are tactical moves meant to strengthen positions.

Regulations play a crucial role in shaping the market for voice and speech recognition. The integration of voice recognition with vehicles is gaining attraction worldwide as several countries initiate hands-free driving regulations that govern the use of mobile phones while driving cars. Key companies are reshaping the voice-activation used in cars. For instance, Google LLC’s Android Auto enables the pairing of users’ phone screens on their car’s dashboard and supports all the functions while driving.

The service substitutes for the market are high owing to the presence of a larger number of vendors and the availability of open-source software. However, accuracy is the major concern essential to this industry, and open-source software providers do not provide high accuracy. It ultimately drives the demand for premium software from leading players among users demanding high accuracy in speech and voice recognition.

End-user concentration is a significant factor in the voice and speech recognition market. Subsequently, there are several end-user industries that are fueling the demand for smart appliances and devices. The concentration of demand in a small number of end-user industries creates opportunities for companies that focus on developing smart appliances and devices for these industries.

Functions Insights

On the basis of functions, the global market has been further segmented into voice recognition and speech recognition. In terms of revenue, the speech recognition segment accounted for a dominant share of more than 65.1% of the global market in 2022. Automobiles and mobile phones are suitable for speech recognition implementations. The increasing mobility of society requires accessibility to data and services anytime and anywhere. Cloud and client-based speech recognition employments can significantly augment the customer experience and provide optimization in cost-saving for companies.

Furthermore, this technology has been assisting doctors and radiologists in maintaining records of patients owing to benefits, such as reducing the report turnaround time and assisting doctors in record keeping. The integration of speech recognition with Virtual Reality (VR) is expected to lead to enhanced market demand. For instance, in February 2017, Facebook enhanced its VR platform, Oculus rift, by adding speech recognition to the VR gear of the oculus rift. On the other hand, the voice recognition segment is projected to record the fastest CAGR during the forecast period.

Technology Insights

On the basis of technologies, the global market has been further bifurcated into Artificial Intelligence based and non-artificial intelligence based. The non-Artificial intelligence based technology segment accounted for a dominant share of more than 71.7% of the global revenue in 2022. The segment is estimated to retain the leading position growing at a steady CAGR from 2023 to 2030. On the other hand, the Artificial intelligence based technology segment is expected to register the fastest growth rate during the forecast period. The demand for Artificial intelligence based technology is on the rise as the system recognizes the patterns of speech accurately.

Artificial intelligence exceptionally converts speech into well-structured algorithms by undergoing certain stages, including the representation of speech units, formulation, and development of recognition algorithms along with the demonstration of correct inputs. The rising developments in machine learning and natural language processing are expected to boost the growth of the Artificial intelligence based technology segment. A rising number of Artificial intelligence based digital assistants, such as Alexa and Cortana, are expected to drive the demand for voice and speech recognition solutions over the forecast period.

Vertical Insights

On the basis of verticals, the global market has been further divided into the automotive, enterprise, consumer, BFSI, government, retail, healthcare, military, legal, education, and others. In terms of revenue, the healthcare segment accounted for the highest share of more than 28.9% in 2022. Speech recognition boosts the process of data capturing in EHR systems. This process empowers physicians to interact with the system by speaking a few words. Speech recognition is still in the developing stage and deployed in individual segments of healthcare, which include radiology, pathology, emergency medicine, and others.

Global voice and speech recognition market share, by vertical, 2022 (%)

The automotive vertical also has a significant market share. The enhancement of automotive technologies, such as connected devices would update the driver with traffic conditions on the route and alternative routes. Voice & speech recognition technologies are expected to have a wide scope of application in consumer and retail verticals over the forecast period on account of the rising adoption of connected devices and growing penetration of personal assistants, such as Google Home and Amazon Alexa, in the Europe and Asia Pacific regions.

Regional Insights

On the basis of geographies, the global market has been further divided into North America, Europe, Asia Pacific, South America, and Middle & East Africa. North America accounted for the maximum share of more than 31.9% of the global revenue in 2022. The region is expected to expand further at a steady CAGR retaining the dominant market position over the forecast period. The growing adoption of voice-enabled applications in smartphones and the increasing use of voice & speech recognition in mobile banking, consumer electronics, and IoT devices are expected to drive the market in the North America region.

Voice And Speech Recognition Market Trends by Region, 2023-2030

In Europe, speech & voice recognition technologies are expected to witness increased applications in the consumer electronics and retail sectors owing to the rising trend of connected devices in automotive and home automation. The demand for speech & voice recognition is growing in China, Japan, and Singapore, which is expected to fuel the market growth in the Asia Pacific region. The regional market is estimated to register the fastest CAGR from 2023 to 2030. The rising penetration of voice-enabled devices in the automobile and healthcare segments is also expected to boost the APAC regional market growth.

Key Companies & Market Share Insights

Vendors in the market are focusing on increasing the customer base to gain a competitive edge. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions and partnerships. In September 2020, Cantab Research entered into a partnership with Nuix, the creator of innovative software that transforms data into actionable intelligence. Together, Speechmatics and Nuix are bringing highly accurate, secure speech recognition technology to businesses through an end-to-end software solution.

Industry players are heavily investing in R&D for the development of voice & speech recognition-integrated AI technology. For instance, in September 2020, Microsoft and Nuance Communications introduced Nuance Dragon Ambient eXperience (DAX), an Ambient Clinical Intelligence (ACI) solution, now integrated into Microsoft Teams to broadly scale virtual consults aimed at increasing physician wellness and providing better patient health outcomes. In March 2018, IBM launched Watson Assistant, a smart enterprise voice recognition and the assistant system powered by AI, cloud, and IoT. Some of the prominent players in the global voice and speech recognition market include:

Key Voice and Speech Recognition Companies:

  • Advanced Voice Recognition Systems, Inc.
  • Agnitio S.L.
  • Amazon.com, Inc.
  • Api.ai
  • Apple, Inc.
  • Anhui USTC iFlytek, Ltd.
  • Baidu, Inc.
  • BioTrust ID B.V.
  • CastleOS Software, LLC
  • Facebook, Inc.
  • Google, Inc.
  • International Business Machines Corp.
  • Microsoft Corp.
  • MModal, Inc.
  • Nortek Holdings, Inc.
  • Nuance Communications, Inc.
  • Raytheon Company
  • SemVox GmbH
  • Sensory, Inc.

Recent Developments

  • In March 2023, Google Al introduced a new update to its Universal Speech Model (USM) in support of the 1,000 Languages Initiative. A universal speech model is a machine learning algorithm designed to comprehend and interpret spoken language across diverse languages and accents. The USM, a family of advanced speech models with 2 billion parameters, has been trained on an extensive dataset of 12 million hours of speech and 28 billion sentences in over 300 languages. Google claims that the USM excels in automatic speech recognition (ASR) for languages with limited resources, such as Assamese, Cebuano, Amharic, and Azerbaijani, as well as widely spoken languages like Mandarin and English

  • In September 2023, Alexa Al, an intelligent voice assistant developed by Amazon, introduced generative AI in Alexa to significantly engage with technology by utilizing the capabilities of artificial intelligence (AI) and speech recognition. Its advanced technology enables it to voice commands, making it an ideal companion for activities such as scheduling reminders, managing smart home devices, and playing music. This advanced Al assistant has been incorporated into various devices, such as the Echo Dot and Amazon Echo.In January 2021, Yellow Messenger made a strategic alliance with Microsoft to revolutionize its voice automation offering by leveraging Azure AI Speech Services and Natural Language Processing (NLP) tools. This collaboration will focus on developing a sophisticated voice assistant platform with advanced capabilities, including sentiment analysis, dialect comprehension, and workflow-based responses, ultimately leading to improved voice bot solutions for enterprises across industries and elevated consumer experience automation

  • In October 2022, iFLYTEK Corporation introduced the Speech Translation Technology Platform for Southeast Asian Languages at the ASEAN Summit in October 2022. To access online administrative and public services, Guangxi residents can use the mobile app "Zhiguitong," which features the iFLYTEK speech translation technology for ASEAN languages. Chinese Mandarin to Lao, English, Vietnamese, Indonesian, Thai, Tamil, Malay, and Burmese instant speech translation is available.

  • In May 2023, Apple unveiled a suite of cutting-edge cognitive accessibility features, including Live Speech, Personal Voice, and Point and Speak in Magnifier, designed to elevate usability and accessibility for individuals with disabilities. By collaborating closely with disability community groups, Apple reinforces its dedication to ensuring technology remains inclusive, making a tangible difference in the lives of its users

  • In January 2021, Yellow Messenger made a strategic alliance with Microsoft to revolutionize its voice automation offering by leveraging Azure AI Speech Services and Natural Language Processing (NLP) tools. This collaboration will focus on developing a sophisticated voice assistant platform with advanced capabilities, including sentiment analysis, dialect comprehension, and workflow-based responses, ultimately leading to improved voice bot solutions for enterprises across industries and elevated consumer experience automation

Voice And Speech Recognition Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 20.25 billion

Revenue forecast in 2030

USD 53.66 billion

Growth rate

CAGR of 14.9% from 2023 to 2030

Actual data

2017 - 2023

Forecast period

2024 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, competitive landscape, growth factors, and trends

Segments Covered

Function, technology, vertical, region

Regional scope

North America; Europe; Asia Pacific; South America; MEA

Country scope

U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; Netherlands; Switzerland; Poland; China; India; Japan; South Korea; Singapore; Malaysia; Australia; Hong Kong; Vietnam; Pakistan; Brazil; Argentina; Chile; UAE; Saudi Arabia; Israel; South Africa; Nigeria

Key companies profiled

Advanced Voice Recognition Systems, Inc.; Agnitio S.L.; Amazon.com, Inc.; Api.ai; Apple, Inc.; Anhui USTC iFlytek, Ltd.; Baidu, Inc.; BioTrust ID B.V.; CastleOS Software, LLC; Facebook, Inc.; Google, Inc.; International Business Machines Corp.; Microsoft Corp.; MModal, Inc.; Nortek Holdings, Inc.; Nuance Communications, Inc.; Raytheon Company; SemVox GmbH; Sensory, Inc.

Customization scope

Free report customization (equivalent up to 8 analyst working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Voice And Speech Recognition Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global voice and speech recognition market report based on function, technology, vertical, and region:

Global Voice And Speech Recognition Market Segmentation

  • Function Outlook (Revenue, USD Million, 2017 - 2030)

    • Voice recognition

      • Speaker Identification

      • Speaker Verification

    • Speech recognition

      • Automatic Speech Recognition

      • Text to Speech

  • Technology Outlook (Revenue, USD Million, 2017 - 2030)

    • Artificial Intelligence Based

    • Non-Artificial Intelligence Based

  • Vertical Outlook (Revenue, USD Million, 2017 - 2030)

    • Automotive

    • Enterprise

    • Consumer

    • BFSI

    • Government

    • Retail

    • Healthcare

    • Military

    • Legal

    • Education

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

      • Netherlands

      • Switzerland

      • Poland

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

      • Singapore

      • Malaysia

      • Australia

      • Hong Kong

      • Vietnam

      • Pakistan

    • South America

      • Brazil

      • Argentina

      • Chile

    • Middle East and Africa

      • UAE

      • Saudi Arabia

      • Israel

      • South Africa

      • Nigeria

Frequently Asked Questions About This Report

Table of Contents

Chapter 1 Voice And Speech Recognition Market: Methodology and Scope
                    1.1 Research Methodology
                    1.2 Research scope and assumptions
                    1.3 List of data sources
Chapter 2 Voice And Speech Recognition Market: Executive Summary
                    2.1 Voice and speech recognition - Industry snapshot and key buying criteria, 2017 - 2030
                    2.2 Industry Trends
                        2.2.1 Functions
                        2.2.2 Technology
                        2.2.3 Verticals
                        2.2.4 Regions
Chapter 3 Voice and Speech Recognition Market: Industry Outlook
                    3.1 Market segmentation
                    3.2 Market Definition
                        3.2.1 Function
                            3.2.1.1 Voice Recognition
                            3.2.1.2 Speech Recognition
                        3.2.2 Technology
                            3.2.2.1 Artificial intelligence based
                            3.2.2.2 Non-artificial intelligence based
                        3.2.3 Verticals
                            3.2.3.1 Automotive
                            3.2.3.2 Banking Finance Services & Insurance (BFSI)
                            3.2.3.3 Consumer
                            3.2.3.4 Education
                            3.2.3.5 Enterprise
                            3.2.3.6 Government
                            3.2.3.7 Healthcare
                            3.2.3.8 Legal
                            3.2.3.9 Military
                            3.2.3.10 Retail
                            3.2.3.11 Other
                        3.2.4 Regions
                    3.3 Market size and growth prospects
                    3.4 Value Chain Analysis
                    3.5 Market Dynamics
                        3.5.1 Market driver analysis
                            3.5.1.1 Increasing demand for voice biometric systems for user authentication
                            3.5.1.2 The growth of speech recognition in car voice and speech recognition systems
                            3.5.1.3 Ability to Streamline Workflow
                            3.5.1.4 Increasing use of voice and speech recognition system for Electronic Health Record(EHR) applications
                            3.5.1.5 Dictionary of interactive tutorials
                        3.5.2 Market restraint analysis
                            3.5.2.1 Lack of accuracy in voice and speech recognition systems
                        3.5.3 Market opportunities
                            3.5.3.1 Voice Control over Internet of Things (IoT) Devices
                            3.5.3.2 Enabling human-robot communication
                    3.6 Industry Analysis - Porter’s
                    3.7 PEST Analysis
                    3.8 Technology Overview
                        3.8.1 Audio Mining (Speech analytics)
                        3.8.2 Automatic Speech Recognition
                        3.8.3 Cloud Computing
                        3.8.4 Far-Field Microphone
                        3.8.5 Interactive Voice Response
                        3.8.6 Noise Abatement
                        3.8.7 Speech Biometrics
                        3.8.8 Text-to-speech
                        3.8.9 Voice-Over-IP (VoIP)
                        3.8.10 Voice Activated Dialling
                        3.8.11 VoiceXML
                        3.8.12 Natural Language Processing
                    3.9 Voice and speech recognition technology - Home Security and Home Automation
                        3.9.1 Home Security and Home Automation- Hardware Solutions
                            3.9.1.1 Angee
                            3.9.1.2 Insteon Hub Pro
                            3.9.1.3 Ivee Sleek
                            3.9.1.4 TuxedoTouch
                        3.9.2 Home Security and Home Automation - Software
                            3.9.2.1 ADT Pulse Voice App
                            3.9.2.2 Vognition
                            3.9.2.3 CastleOS
                            3.9.2.4 VoicePod
                        3.9.3 Home Security and Home Automation - Complete Solution Providers
                            3.9.3.1 Apple’s HomeKit
                            3.9.3.2 Homey
                            3.9.3.3 CastleHub
                            3.9.3.4 Ubi
Chapter 4 Voice and Speech Recognition Market: Function Outlook
                    4.1 Voice and Speech Recognition Market share by functions, 2022 & 2030
                        4.1.1 Voice Recognition
                            4.1.1.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                            4.1.1.2 Speaker Identification
                                4.1.1.2.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                            4.1.1.3 Speaker Verification
                                4.1.1.3.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        4.1.2 Speech Recognition
                            4.1.2.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                            4.1.2.2 Automatic Speech Recognition
                                4.1.2.2.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                            4.1.2.3 Text to Speech
                                4.1.2.3.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 5 Voice and Speech Recognition Market: Technology Outlook
                    5.1 Voice and Speech Recognition Market share by technology, 2022 & 2030
                        5.1.1 Artificial Intelligence based
                            5.1.1.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        5.1.2 Non-Artificial Intelligence based
                            5.1.2.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 6 Voice and Speech Recognition Market: Vertical Outlook
                    6.1 Voice and Speech Recognition Market by vertical, 2021 & 2030
                        6.1.1 Automotive
                            6.1.1.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        6.1.2 Enterprise
                            6.1.2.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        6.1.3 Consumer
                            6.1.3.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        6.1.4 BFSI
                            6.1.4.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        6.1.5 Government
                            6.1.5.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        6.1.6 Retail
                            6.1.6.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        6.1.7 Healthcare
                            6.1.7.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        6.1.8 Military
                            6.1.8.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        6.1.9 Legal
                            6.1.9.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        6.1.10 Education
                            6.1.10.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
                        6.1.11 Others
                            6.1.11.1 Global market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 7 Voice and Speech Recognition Market: Regional Outlook
                    7.1 Voice and Speech Recognition Market share by region, 2022 & 2030
                        7.1.1 North America
                            7.1.1.1 North America Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                7.1.1.1.1 North America Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                7.1.1.1.2 North America Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                            7.1.1.2 North America Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                            7.1.1.3 North America Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.1.4 U.S.
                                7.1.1.4.1 U.S. Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.1.4.1.1 U.S. Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.1.4.1.2 U.S. Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.1.4.2 U.S. Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.1.4.3 U.S. Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.1.5 Canada
                                7.1.1.5.1 Canada Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.1.5.1.1 Canada Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.1.5.1.2 Canada Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.1.5.2 Canada Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.1.5.3 Canada Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.1.6 Mexico
                                7.1.1.6.1 Mexico Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.1.6.1.1 Mexico Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.1.6.1.2 Mexico Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.1.6.2 Mexico Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.1.6.3 Mexico Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                        7.1.2 Europe
                            7.1.2.1 Europe Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                7.1.2.1.1 Europe Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                7.1.2.1.2 Europe Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                            7.1.2.2 Europe Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                            7.1.2.3 Europe Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.2.4 U.K.
                                7.1.2.4.1 U.K. Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.2.4.1.1 U.K. Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.2.4.1.2 U.K. Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.2.4.2 U.K. Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.2.4.3 U.K. Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.2.5 Germany
                                7.1.2.5.1 Germany Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.2.5.1.1 Germany Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.2.5.1.2 Germany Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.2.5.2 Germany Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.2.5.3 Germany Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.2.6 France
                                7.1.2.6.1 France Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.2.6.1.1 France Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.2.6.1.2 France Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.2.6.2 France Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.2.6.3 France Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.2.7 Italy
                                7.1.2.7.1 Italy Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.2.7.1.1 Italy Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.2.7.1.2 Italy Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.2.7.2 Italy Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.2.7.3 Italy Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.2.8 Spain
                                7.1.2.8.1 Spain Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.2.8.1.1 Spain Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.2.8.1.2 Spain Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.2.8.2 Spain Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.2.8.3 Spain Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.2.9 The Netherlands
                                7.1.2.9.1 The Netherlands Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.2.9.1.1 The Netherlands Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.2.9.1.2 The Netherlands Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.2.9.2 The Netherlands Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.2.9.3 The Netherlands Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.2.10 Switzerland
                                7.1.2.10.1 Switzerland Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.2.10.1.1 Switzerland Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.2.10.1.2 Switzerland Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.2.10.2 Switzerland Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.2.10.3 Switzerland Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.2.11 Poland
                                7.1.2.11.1 Poland Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.2.11.1.1 Poland Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.2.11.1.2 Poland Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.2.11.2 Poland Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.2.11.3 Poland Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                        7.1.3 Asia Pacific
                            7.1.3.1 Asia Pacific Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                7.1.3.1.1 Asia Pacific Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                7.1.3.1.2 Asia Pacific Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                            7.1.3.2 Asia Pacific Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                            7.1.3.3 Asia Pacific Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.3.4 China
                                7.1.3.4.1 China Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.3.4.1.1 China Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.3.4.1.2 China Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.3.4.2 China Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.3.4.3 China Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.3.5 Japan
                                7.1.3.5.1 Japan Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.3.5.1.1 Japan Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.3.5.1.2 Japan Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.3.5.2 Japan Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.3.5.3 Japan Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.3.6 India
                                7.1.3.6.1 India Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.3.6.1.1 India Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.3.6.1.2 India Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.3.6.2 India Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.3.6.3 India Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.3.7 South Korea
                                7.1.3.7.1 South Korea Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.3.7.1.1 South Korea Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.3.7.1.2 South Korea Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.3.7.2 South Korea Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.3.7.3 South Korea Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.3.8 Singapore
                                7.1.3.8.1 Singapore Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.3.8.1.1 Singapore Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.3.8.1.2 Singapore Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.3.8.2 Singapore Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.3.8.3 Singapore Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.3.9 Malaysia
                                7.1.3.9.1 Malaysia Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.3.9.1.1 Malaysia Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.3.9.1.2 Malaysia Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.3.9.2 Malaysia Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.3.9.3 Malaysia Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.3.10 Australia
                                7.1.3.10.1 Australia Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.3.10.1.1 Australia Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.3.10.1.2 Australia Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.3.10.2 Australia Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.3.10.3 Australia Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.3.11 Hong Kong
                                7.1.3.11.1 Hong Kong Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.3.11.1.1 Hong Kong Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.3.11.1.2 Hong Kong Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.3.11.2 Hong Kong Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.3.11.3 Hong Kong Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.3.12 Vietnam
                                7.1.3.12.1 Vietnam Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.3.12.1.1 Vietnam Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.3.12.1.2 Vietnam Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.3.12.2 Vietnam Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.3.12.3 Vietnam Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.3.13 Pakistan
                                7.1.3.13.1 Pakistan Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.3.13.1.1 Pakistan Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.3.13.1.2 Pakistan Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.3.13.2 Pakistan Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.3.13.3 Pakistan Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                        7.1.4 South America
                            7.1.4.1 South America Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                7.1.4.1.1 South America Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                7.1.4.1.2 South America Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                            7.1.4.2 South America Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                            7.1.4.3 South America Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.4.4 Brazil
                                7.1.4.4.1 Brazil Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.4.4.1.1 Brazil Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.4.4.1.2 Brazil Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.4.4.2 Brazil Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.4.4.3 Brazil Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.4.5 Argentina
                                7.1.4.5.1 Argentina Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.4.5.1.1 Argentina Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.4.5.1.2 Argentina Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.4.5.2 Argentina Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.4.5.3 Argentina Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.4.6 Chile
                                7.1.4.6.1 Chile Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.4.6.1.1 Chile Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.4.6.1.2 Chile Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.4.6.2 Chile Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.4.6.3 Chile Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                        7.1.5 MEA
                            7.1.5.1 MEA Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                7.1.5.1.1 MEA Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                7.1.5.1.2 MEA Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                            7.1.5.2 MEA Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                            7.1.5.3 MEA Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.5.4 UAE
                                7.1.5.4.1 UAE Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.5.4.1.1 UAE Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.5.4.1.2 UAE Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.5.4.2 UAE Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.5.4.3 UAE Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.5.5 Saudi Arabia
                                7.1.5.5.1 Saudi Arabia Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.5.5.1.1 Saudi Arabia Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.5.5.1.2 Saudi Arabia Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.5.5.2 Saudi Arabia Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.5.5.3 Saudi Arabia Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.5.6 Israel
                                7.1.5.6.1 Israel Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.5.6.1.1 Israel Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.5.6.1.2 Israel Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.5.6.2 Israel Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.5.6.3 Israel Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.5.7 South Africa
                                7.1.5.7.1 South Africa Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.5.7.1.1 South Africa Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.5.7.1.2 South Africa Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.5.7.2 South Africa Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.5.7.3 South Africa Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
                            7.1.5.8 Nigeria
                                7.1.5.8.1 Nigeria Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
                                    7.1.5.8.1.1 Nigeria Voice and Speech Recognition Market, by voice recognition, 2017 - 2030 (USD Million)
                                    7.1.5.8.1.2 Nigeria Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
                                7.1.5.8.2 Nigeria Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
                                7.1.5.8.3 Nigeria Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
Chapter 8 Voice Recognition Industry Outlook
                    8.1. Advanced Voice Recognition Systems, Inc.
                        8.1.1 Company Overview
                        8.1.2 Financial Performance
                        8.1.3 Recent Developments
                        8.1.4 Key Strategies
                        8.1.5 Research and Development Initiatives
                    8.2 Agnitio S.L. (subsidiary of Nuance Communications Inc.)
                        8.2.1 Company Overview
                        8.2.2 Funding Analysis
                        8.2.3 Product Benchmarking
                        8.2.4 Recent Developments
                        8.2.5 Investments
                        8.2.6 Key Strategies
                        8.2.7 Mergers and Acquisition and Strategic Partnership
                        8.2.8 Research and Development Initiatives
                        8.2.9 Resource Planning
                    8.3 Amazon.com, Inc.
                        8.3.1 Company Overview
                        8.3.2 Financial Performance
                        8.3.3 Product Benchmarking
                        8.3.4 Alexa Powered Devices
                        8.3.5 Recent Developments
                        8.3.6 Investments and related activities
                        8.3.7 Key Strategies
                        8.3.8 Mergers and Acquisition
                        8.3.9 Research and Development Initiatives
                        8.3.10 Resource planning
                    8.4 Anhui USTC iFlytek Co., Ltd.
                        8.4.1 Company Overview
                        8.4.2 Financial Performance
                        8.4.3 Product Benchmarking
                        8.4.4 Recent Developments
                        8.4.5 Investments Raised
                        8.4.6 Key Strategies
                        8.4.7 Mergers and Acquisition
                        8.4.8 Research and Development Initiatives
                       8.4.9 Resource Planning
                    8.5 Apple Inc.
                        8.5.1 Company Overview
                        8.5.2 Financial Performance
                        8.5.3 Product Benchmarking
                        8.5.4 Recent Development
                        8.5.5 Key Strategies
                        8.5.6 Mergers and Acquisitions
                        8.5.7 Research and Development Initiatives
                        8.5.8 Resource planning
                    8.6 Baidu, Inc.
                        8.6.1 Company Overview
                        8.6.2 Financial Performance
                        8.6.3 Product Benchmarking
                        8.6.4 Recent Development
                        8.6.5 Key Strategies
                        8.6.6 Mergers and Acquisition and Strategic Partnerships
                        8.6.7 Research and Development Initiatives
                        8.6.8 Resource planning
                    8.7 BioTrust ID B.V.
                        8.7.1 Company Overview
                        8.7.2 Product Benchmarking
                        8.7.3 Recent Developments
                        8.7.4 Investments Raised
                        8.7.5 Key Strategies
                        8.7.6 Mergers and Acquisition
                        8.7.7 Research and Development Initiatives
                    8.8 Google LLC
                        8.8.1 Company Overview
                        8.8.2 Financial Performance
                        8.8.3 Product Benchmarking
                        8.8.4 Recent Developments
                        8.8.5 Investment
                        8.8.6 Key Strategies
                        8.8.7 Mergers and Acquisition
                        8.8.8 Research and Development Initiatives
                        8.8.9 Resource planning
                    8.9 International Business Machines Corporation
                        8.9.1 Company Overview
                        8.9.2 Financial Performance
                        8.9.3 Product Benchmarking
                        8.9.4 Recent Developments
                        8.9.5 Investment and related activities
                        8.9.6 Key Strategies
                        8.9.7 Mergers and Acquisition
                        8.9.8 Research and Development Initiatives
                        8.9.9 Resource planning
                    8.10 M2Sys LLC
                        8.10.1 Company Overview
                        8.10.2 Product Benchmarking
                        8.10.3 Recent Development
                        8.10.4 Key Strategies
                        8.10.5 Resource Planning
                    8.11 LumenVox LLC
                        8.11.1 Company Overview
                        8.11.2 Product Benchmarking
                        8.11.3 Recent Development
                        8.11.4 Key Strategies
                        8.11.5 Mergers and Acquisition and Strategic Partnerships
                        8.11.6 Resource planning
                    8.12 Microsoft Corporation
                        8.12.1 Company Overview
                        8.12.2 Financial Performance
                        8.12.3 Product Benchmarking
                        8.12.4 Recent Developments
                        8.12.5 Investment
                        8.12.6 Key Strategies
                        8.12.7 Mergers and Acquisition, and related activities
                        8.12.8 Research and Development Initiatives
                        8.12.9 Resource planning
                    8.13 M*Modal, Inc.
                        8.13.1 Company Overview
                        8.13.2 Product Benchmarking
                        8.13.3 Recent Developments
                        8.13.4 Key Strategies
                        8.13.5 Mergers and Acquisition, and strategic partnerships
                        8.13.6 Research and Development Initiatives
                        8.13.7 Resource Planning
                    8.14 Nuance Communication, Inc.
                        8.14.1 Company Overview
                        8.14.2 Financial Performance
                        8.14.3 Product Benchmarking
                        8.14.4 Recent Developments
                        8.14.5 Investments and related activities
                        8.14.6 Key Strategies
                        8.14.7 Mergers and Acquisition
                        8.14.8 Research and Development Initiatives
                    8.15 Raytheon Company
                        8.15.1 Company Overview
                        8.15.2 Financial Performance
                        8.15.3 Product Benchmarking
                        8.15.4 Recent Developments
                        8.15.5 Key Strategies
                        8.15.6 Mergers and Acquisition
                        8.15.7 Research and Development Initiatives
                        8.15.8 Resource planning
                    8.16 Sensory Inc.
                        8.16.1 Company Overview
                        8.16.2 Product Benchmarking
                        8.16.3 Recent Development
                        8.16.4 Investment
                        8.16.5 Key Strategies
                        8.16.6 Mergers and Acquisition and Strategic Partnerships
                        8.16.7 Research and Development Initiatives
                    8.17 ValidSoft U.K. Limited (ElephantTalk Communications Corp.)
                        8.17.1 Company Overview
                        8.17.2 Product Benchmarking
                        8.17.3 Recent Developments
                        8.17.4 Investments and related activities
                        8.17.5 Key Strategies
                        8.17.6 Mergers and Acquisition
                        8.17.7 Resource Planning
                    8.18 VoiceBox Technologies Corporation
                        8.18.1 Company Overview
                        8.18.2 Funding Analysis
                        8.18.3 Product Benchmarking
                        8.18.4 Recent Developments
                        8.18.5 Investments Raised
                        8.18.6 Key Strategies
                        8.18.7 Mergers and Acquisition
                        8.18.8 Research and Development Initiatives
                        8.18.9 Resource Planning
                    8.19 VoiceVault Inc.
                        8.19.1 Company Overview
                        8.19.2 Product Benchmarking
                        8.19.3 Recent Developments
                        8.19.4 Investments Raised
                        8.19.5 Market Development
                        8.19.6 Mergers and Acquisition
                        8.19.7 Research and Development Initiatives
                        8.19.8 Resource Planning
                    8.20 Api.ai
                        8.20.1 Company Overview
                        8.20.2 Product Benchmarking
                        8.20.3 Recent Developments
                        8.20.4 Investment
                        8.20.5 Key Strategies
                        8.20.6 Mergers and Acquisition
                        8.20.7 Research and Development Initiatives
                    8.21 CastleOS Software, LLC
                        8.21.1 Company Overview
                        8.21.2 Product Benchmarking
                        8.21.3 Recent Development
                        8.21.4 Investment
                        8.21.5 Key Strategies
                        8.21.6 Research and Development Initiatives
                    8.22 Facebook, Inc.
                        8.22.1 Company Overview
                        8.22.2 Financial Performance
                        8.22.3 Product Benchmarking
                        8.22.4 Recent Developments
                        8.22.5 Investment
                        8.22.6 Key Strategies
                        8.22.7 Mergers and Acquisition
                        8.22.8 Research and Development Initiatives
                        8.22.9 Resource Planning
                    8.23 JStar
                        8.23.1 Company Overview
                        8.23.2 Product Benchmarking
                        8.23.3 Recent Development
                        8.23.4 Investment
                        8.23.5 Key Strategies
                        8.23.6 Resource Planning
                    8.24 Nortek Holdings, Inc.
                        8.24.1 Company Overview
                        8.24.2 Financial Performance
                        8.24.3 Product Benchmarking
                        8.24.4 Recent Developments
                        8.24.5 Investment
                        8.24.6 Key Strategies
                        8.24.7 Mergers and Acquisition
                        8.24.8 Research and Development Initiatives
                        8.24.9 Resource Planning
                    8.25 SemVox GmbH
                        8.25.1 Company Overview
                        8.25.2 Product Benchmarking
                        8.25.3 Recent Development
                        8.25.4 Investments
                        8.25.5 Key Strategies
                        8.25.6 Research and Development Initiatives
                        8.25.7 Resource Planning


List of Tables

TABLE 1 Voice and speech recognition - Industry snapshot and key buying criteria, 2017 - 2030
TABLE 2 Global Voice and Speech Recognition Market (USD million) 2017 - 2030
TABLE 3 Global Voice and Speech Recognition Market by region, 2017 - 2030 (USD million)
TABLE 4 Global Voice and Speech Recognition Market, by function 2017 - 2030 (USD million)
TABLE 5 Global Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD million)
TABLE 6 Global Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD million)
TABLE 7 Global Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD million)
TABLE 8 Global Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD million)
TABLE 9 Voice and Speech Recognition Market – Key market driver impact
TABLE 10 Voice and speech recognition – Key market restraint impact
TABLE 11 Voice and speech recognition – Key market opportunity impact
TABLE 12 Voice and speech recognition – Automatic Speech Recognition
TABLE 13 Voice and speech recognition – Voice-over-IP
TABLE 14 Voice and speech recognition – Voice Activated Dialling
TABLE 15 Voice and speech recognition – Natural Language Processing
TABLE 16 Home Security and Home Automation - Hardware Solutions
TABLE 17 Home Security and Home Automation - Software providers
TABLE 18 Home Security and Home Automation - Complete solution providers
TABLE 19 Voice and Speech Recognition Market, by voice recognition, by region 2017 - 2030 (USD Million)
TABLE 20 Voice and Speech Recognition Market, by speaker identification, by region, 2017 - 2030 (USD Million)
TABLE 21 Voice and Speech Recognition Market, by speaker verification, by region 2017 - 2030 (USD Million)
TABLE 22 Voice and Speech Recognition Market, by speech recognition, by region 2017 - 2030 (USD Million)
TABLE 23 Voice and Speech Recognition Market, by automatic speech recognition, by region 2017 - 2030 (USD Million)
TABLE 24 Voice and Speech Recognition Market, by text to speech, by region 2017 - 2030 (USD Million)
TABLE 25 Voice and Speech Recognition Market, by artificial intelligence based technology, by region 2017 - 2030 (USD Million)
TABLE 26 Voice and Speech Recognition Market, by non-artificial intelligence based technology, by region 2017 - 2030 (USD Million)
TABLE 27 Voice and Speech Recognition Market, by automotive vertical, by region 2017 - 2030 (USD Million)
TABLE 28 Voice and Speech Recognition Market, by enterprise vertical, by region 2017 - 2030 (USD Million)
TABLE 29 Voice and Speech Recognition Market, by consumer vertical, by region 2017 - 2030 (USD Million)
TABLE 30 Voice and Speech Recognition Market, by BFSI vertical, by region 2017 - 2030 (USD Million)
TABLE 31 Voice and Speech Recognition Market, by government vertical, by region 2017 - 2030 (USD Million)
TABLE 32 Voice and Speech Recognition Market, by retail vertical, by region 2017 - 2030 (USD Million)
TABLE 33 Voice and Speech Recognition Market, by healthcare vertical, by region 2017 - 2030 (USD Million)
TABLE 34 Voice and Speech Recognition Market, by military vertical, by region 2017 - 2030 (USD Million)
TABLE 35 Voice and Speech Recognition Market, by legal vertical, by region 2017 - 2030 (USD Million)
TABLE 36 Voice and Speech Recognition Market, by education vertical, by region 2017 - 2030 (USD Million)
TABLE 37 Voice and Speech Recognition Market, by other vertical, by region 2017 - 2030 (USD Million)
TABLE 38 North America Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 39 North America Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 40 North America Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 41 North America Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 42 North America Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 43 U.S. Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 44 U.S. Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 45 U.S. Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 46 U.S. Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 47 U.S. Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 48 Canada Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 49 Canada Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 50 Canada Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 51 Canada Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 52 Canada Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 53 Mexico Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 54 Mexico Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 55 Mexico Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 56 Mexico Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 57 Mexico Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 58 Europe Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 59 Europe Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 60 Europe Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 61 Europe Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 62 Europe Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 63 U.K. Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 64 U.K. Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 65 U.K. Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 66 U.K. Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 67 U.K. Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 68 Germany Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 69 Germany Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 70 Germany Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 71 Germany Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 72 Germany Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 73 France Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 74 France Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 75 France Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 76 France Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 77 France Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 78 Italy Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 79 Italy Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 80 Italy Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 81 Italy Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 82 Italy Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 83 Spain Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 84 Spain Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 85 Spain Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 86 Spain Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 87 Spain Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 88 Netherlands Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 89 Netherlands Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 90 Netherlands Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 91 Netherlands Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 92 Netherlands Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 93 Switzerland Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 94 Switzerland Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 95 Switzerland Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 96 Switzerland Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 97 Switzerland Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 98 Poland Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 99 Poland Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 100 Poland Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 101 Poland Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 102 Poland Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 103 Asia Pacific Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 104 Asia Pacific Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 105 Asia Pacific Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 106 Asia Pacific Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 107 Asia Pacific Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 108 China Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 109 China Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 110 China Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 111 China Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 112 China Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 113 Japan Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 114 Japan Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 115 Japan Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 116 Japan Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 117 Japan Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 118 India Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 119 India Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 120 India Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 121 India Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 122 India Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 123 South Korea Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 124 South Korea Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 125 South Korea Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 126 South Korea Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 127 South Korea Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 128 Singapore Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 129 Singapore Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 130 Singapore Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 131 Singapore Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 132 Singapore Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 133 Malaysia Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 134 Malaysia Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 135 Malaysia Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 136 Malaysia Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 137 Malaysia Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 138 Australia Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 139 Australia Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 140 Australia Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 141 Australia Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 142 Australia Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 143 Hong Kong Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 144 Hong Kong Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 145 Hong Kong Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 146 Hong Kong Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 147 Hong Kong Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 148 Vietnam Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 149 Vietnam Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 150 Vietnam Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 151 Vietnam Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 152 Vietnam Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 153 Pakistan Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 154 Pakistan Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 155 Pakistan Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 156 Pakistan Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 157 Pakistan Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 158 South America Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 159 South America Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 160 South America Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 161 South America Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 162 South America Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 163 Brazil Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 164 Brazil Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 165 Brazil Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 166 Brazil Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 167 Brazil Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 168 Argentina Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 169 Argentina Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 170 Argentina Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 171 Argentina Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 172 Argentina Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 173 Chile Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 174 Chile Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 175 Chile Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 176 Chile Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 177 Chile Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 178 MEA Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 179 MEA Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 180 MEA Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 181 MEA Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 182 MEA Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 183 UAE Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 184 UAE Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 185 UAE Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 186 UAE Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 187 UAE Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 188 Saudi Arabia Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 189 Saudi Arabia Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 190 Saudi Arabia Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 191 Saudi Arabia Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 192 Saudi Arabia Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 193 Israel Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 194 Israel Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 195 Israel Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 196 Israel Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 197 Israel Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 198 South Africa Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 199 South Africa Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 200 South Africa Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 201 South Africa Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 202 South Africa Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)
TABLE 203 Nigeria Voice and Speech Recognition Market, by function 2017 - 2030 (USD Million)
TABLE 204 Nigeria Voice and Speech Recognition Market, by voice recognition 2017 - 2030 (USD Million)
TABLE 205 Nigeria Voice and Speech Recognition Market, by speech recognition, 2017 - 2030 (USD Million)
TABLE 206 Nigeria Voice and Speech Recognition Market, by technology, 2017 - 2030 (USD Million)
TABLE 207 Nigeria Voice and Speech Recognition Market, by vertical 2017 - 2030 (USD Million)


List of Figures

FIG. 1 Voice and Speech Recognition Market segmentation and scope
FIG. 2 Global Voice and Speech Recognition Market, 2017 - 2030 (USD Million)
FIG. 3 Voice and Speech Recognition Market value chain analysis
FIG. 4 Voice and Speech Recognition Market dynamics
FIG. 5 Voice and Speech Recognition Market - Porter’s analysis
FIG. 6 Voice and Speech Recognition Market - PEST analysis

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Market Segmentation

  • Voice and speech recognition, Function Outlook (Revenue, USD Million, 2017 - 2030)
    • Voice recognition
      • Speaker identification
      • Speaker verification
    • Speech recognition
      • Automatic speech recognition
      • Text to speech
  • Voice and speech recognition, Technology Outlook (Revenue, USD Million, 2017 - 2030)
    • Artificial intelligence based
    • Non-Artificial intelligence based
  • Voice and speech recognition, Vertical Outlook (Revenue, USD Million, 2017 - 2030)
    • Automotive
    • BFSI
    • Consumer
    • Education
    • Enterprise
    • Government
    • Healthcare
    • Legal
    • Military
    • Retail
    • Others
  • Voice and speech recognition, Regional Outlook (Revenue, USD Million, 2017 - 2030)
    • North America
      • North America Voice and Speech Recognition Market, by function
        • Voice recognition
          • Speaker identification
          • Speaker verification
        • Speech recognition
          • Automatic speech recognition
          • Text to speech
      • North America Voice and Speech Recognition Market, by technology
        • Artificial intelligence based
        • Non-Artificial intelligence based
      • North America Voice and Speech Recognition Market, by vertical
        • Automotive
        • BFSI
        • Consumer
        • Education
        • Enterprise
        • Government
        • Healthcare
        • Legal
        • Military
        • Retail
        • Others
      • U.S.
        • U.S. Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • U.S. Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • U.S. Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Canada
        • Canada Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Canada Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Canada Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Mexico
        • Mexico Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Mexico Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Mexico Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
    • Europe
      • Europe Voice and Speech Recognition Market, by function
        • Voice recognition
          • Speaker identification
          • Speaker verification
        • Speech recognition
          • Automatic speech recognition
          • Text to speech
      • Europe Voice and Speech Recognition Market, by technology
        • Artificial intelligence based
        • Non-Artificial intelligence based
      • Europe Voice and Speech Recognition Market, by vertical
        • Automotive
        • BFSI
        • Consumer
        • Education
        • Enterprise
        • Government
        • Healthcare
        • Legal
        • Military
        • Retail
        • Others
      • Germany
        • Germany Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Germany Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Germany Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • U.K.
        • U.K. Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • U.K. Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • U.K. Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • France
        • France Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • France Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • France Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Italy
        • Italy Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Italy Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Italy Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Spain
        • Spain Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Spain Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Spain Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • The Netherlands
        • The Netherlands Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • The Netherlands Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • The Netherlands Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Switzerland
        • Switzerland Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Switzerland Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Switzerland Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Poland
        • Poland Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Poland Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Poland Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
    • Asia Pacific
      • Asia Pacific Voice and Speech Recognition Market, by function
        • Voice recognition
          • Speaker identification
          • Speaker verification
        • Speech recognition
          • Automatic speech recognition
          • Text to speech
      • Asia Pacific Voice and Speech Recognition Market, by technology
        • Artificial intelligence based
        • Non-Artificial intelligence based
      • Asia Pacific Voice and Speech Recognition Market, by vertical
        • Automotive
        • BFSI
        • Consumer
        • Education
        • Enterprise
        • Government
        • Healthcare
        • Legal
        • Military
        • Retail
        • Others
      • China
        • China Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • China Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • China Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Japan
        • Japan Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Japan Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Japan Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • India
        • India Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • India Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • India Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • South Korea
        • South Korea Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • South Korea Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • South Korea Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Singapore
        • Singapore Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Singapore Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Singapore Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Malaysia
        • Malaysia Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Malaysia Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Malaysia Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Australia
        • Australia Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Australia Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Australia Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Hong Kong
        • Hong Kong Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Hong Kong Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Hong Kong Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Vietnam
        • Vietnam Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Vietnam Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Vietnam Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Pakistan
        • Pakistan Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Pakistan Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Pakistan Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
    • South America
      • South America Voice and Speech Recognition Market, by function
        • Voice recognition
          • Speaker identification
          • Speaker verification
        • Speech recognition
          • Automatic speech recognition
          • Text to speech
      • South America Voice and Speech Recognition Market, by technology
        • Artificial intelligence based
        • Non-Artificial intelligence based
      • South America Voice and Speech Recognition Market, by vertical
        • Automotive
        • BFSI
        • Consumer
        • Education
        • Enterprise
        • Government
        • Healthcare
        • Legal
        • Military
        • Retail
        • Others
      • Brazil
        • Brazil Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Brazil Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Brazil Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Argentina
        • Argentina Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Argentina Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Argentina Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Chile
        • Chile Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Chile Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Chile Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
    • MEA
      • MEA Voice and Speech Recognition Market, by function
        • Voice recognition
          • Speaker identification
          • Speaker verification
        • Speech recognition
          • Automatic speech recognition
          • Text to speech
      • MEA Voice and Speech Recognition Market, by technology
        • Artificial intelligence based
        • Non-Artificial intelligence based
      • MEA Voice and Speech Recognition Market, by vertical
        • Automotive
        • BFSI
        • Consumer
        • Education
        • Enterprise
        • Government
        • Healthcare
        • Legal
        • Military
        • Retail
        • Others
      • UAE
        • UAE Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • UAE Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • UAE Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Saudi Arabia
        • Saudi Arabia Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Saudi Arabia Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Saudi Arabia Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Israel
        • Israel Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Israel Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Israel Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • South Africa
        • South Africa Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • South Africa Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • South Africa Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others
      • Nigeria
        • Nigeria Voice and Speech Recognition Market, by function
          • Voice recognition
            • Speaker identification
            • Speaker verification
          • Speech recognition
            • Automatic speech recognition
            • Text to speech
        • Nigeria Voice and Speech Recognition Market, by technology
          • Artificial intelligence based
          • Non-Artificial intelligence based
        • Nigeria Voice and Speech Recognition Market, by vertical
          • Automotive
          • BFSI
          • Consumer
          • Education
          • Enterprise
          • Government
          • Healthcare
          • Legal
          • Military
          • Retail
          • Others

Voice And Speech Recognition Market Dynamics

Driver: Increasing demand for Voice biometrics systems for user authentication

Voice biometrics has gained popularity as a reliable authentication method due to its unique characteristics, similar to fingerprints or iris. Unlike traditional passwords, voice is a distinctive trait of an individual, making it a secure and convenient way to authenticate online transactions. The ability of voice to work remotely through a phone makes it a preferred choice for banking institutions implementing voice biometric systems for customer login. For instance, Atom Bank PLC in the UK uses ConfidentID, a voice biometrics-based authentication service powered by Daon's IdentityX platform. This technology is already in use at airports and international border controls worldwide. The increasing preference for biometrics over traditional password methods will drive the adoption of speech and speech recognition technology during the forecast period, as customers find it more convenient and secure.

The growth of speech recognition in car voice and speech recognition systems

The integration of voice recognition technology in vehicles is gaining popularity worldwide due to the increasing number of countries implementing hands-free driving laws that prohibit the use of mobile phones while driving cars. Companies such as Apple, Google, and Nuance Communications are leading the way in this field. For instance, Google's Android Auto allows users to connect their phone screens to their car's dashboard and use all its functions while driving. Voice commands also help drivers keep their eyes on the road, as manual interfaces for entering data into navigation systems pose significant safety risks. Speech destination entry, on the other hand, enables drivers to follow the route accurately without taking their eyes off the road. Manufacturers focusing on innovations in voice recognition technology are expected to accelerate market growth.

Restraint: Lack of accuracy in voice and speech recognition system

Voice and speech recognition programs face several challenges that can lead to errors and inaccuracies. These challenges include difficulty understanding accents, differentiating between similar-sounding words, and struggling to interpret speech in noisy environments. Achieving a high level of accuracy can be challenging, and the error rate of speech-to-text solutions is not 100%. The lack of visual elements makes designing interactive voice user interfaces (VUIs) more complex, and training language models can be time-consuming. Additionally, speech recognition is difficult to implement in real-time environments, and noise poses a significant challenge, affecting the accuracy of speech recognition systems. These limitations can impact the overall accuracy and reliability of voice and speech recognition systems, potentially hampering their market growth. Despite these challenges, voice and speech recognition technology continues to advance, and researchers are exploring new approaches to improve accuracy and overcome these limitations.

What Does This Report Include?

This section will provide insights into the contents included in this voice and speech recognition market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Voice and speech recognition market qualitative analysis

  • Industry overview

  • Industry trends

  • Market drivers and restraints

  • Market size

  • Growth prospects

  • Porter’s analysis

  • PESTEL analysis

  • Key market opportunities prioritized

  • Competitive landscape

    • Company overview

    • Financial performance

    • Product benchmarking

    • Latest strategic developments

Voice and speech recognition market quantitative analysis

  • Market size, estimates, and forecast from 2017 to 2030

  • Market estimates and forecast for product segments up to 2030

  • Regional market size and forecast for product segments up to 2030

  • Market estimates and forecast for application segments up to 2030

  • Regional market size and forecast for application segments up to 2030

  • Company financial performance

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Research Methodology

A three-pronged approach was followed for deducing the voice and speech recognition market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for voice and speech recognition market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of voice and speech recognition market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Voice And Speech Recognition Market Categorization:

The voice and speech recognition market was categorized into four segments, namely function (Voice recognition, Speech recognition), technology (Artificial Intelligence Based, Non-Artificial Intelligence Based), vertical (Automotive, Enterprise, Consumer, BFSI, Government, Retail, Healthcare, Military, Legal, Education), and region (North America, Europe, Asia Pacific, South America, and Middle East & Africa).

Segment Market Methodology:

The voice and speech recognition market was segmented into function, technology, vertical, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The voice and speech recognition market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-nine countries, namely, the U.S.; Canada; Mexico; the UK; Germany; France; Italy; Spain; Netherlands; Switzerland; Poland; China; India; Japan; South Korea; Singapore; Malaysia; Australia; Hong Kong; Vietnam; Pakistan; Brazil; Argentina; Chile; UAE; Saudi Arabia; Israel; South Africa; Nigeria.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Voice and speech recognition market companies & financials:

The voice and speech recognition market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Advanced Voice Recognition Systems, Inc. - Advanced Voice Recognition Systems, Inc. (AVRS) is a software development company that specializes in the research and development of application and interface solutions for speech recognition technology. The company's patented technologies, proprietary algorithms, software, and hardware are utilized to provide end-users with speech recognition or speech-to-text technological solutions. AVRS aims to serve corporations, hospitals, medical product manufacturers and service providers, governmental entities, legal professionals, sales and service organizations, and law enforcement agencies. In April 2008, AVRS underwent an inverse acquisition through a Stock Exchange Agreement with Samoyed Energy Corp., a Nevada Corporation.

  • Agnitio S.L. - Agnitio S.L. is a private company that specializes in providing voice biometric solutions. The company offers a range of products, including voice verification systems, software for forensic voice sample analysis, and applications for law enforcement, defense, and intelligence purposes. Its customer base is primarily within the government and commercial sectors, encompassing areas such as BFSI, telecommunications, and enterprise security. Notable clients of Agnitio S.L. include the U.S. Department of Justice, the General Attorney Office PGR in Mexico, the U.S. Department of Defense, KLPD in the Netherlands, the Royal Mounted Canadian Police, and NBI in Finland. In the financial industry, the company serves institutions such as BBVA Bank, BNP Paribas, and Santander Bank. Operating in over 40 countries, Agnitio S.L. has established strategic partnerships with organizations like Verint Systems Inc.

  • Amazon.com, Inc. - Amazon.com, a prominent American online retailer and cloud computing service provider, has expanded its business to include its own branded consumer electronics devices, such as the Amazon Kindle e-readers, Fire TV, and Fire tablets. The company is also a major player in the cloud infrastructure services (IaaS) market. In addition to these offerings, Amazon provides low-cost products under its AmazonBasics brand. The company owns several subsidiaries, including IMDB, Diapers.com, Zappos, Kiva Systems, Goodreads, and Teachstreet. Amazon has developed a high-end wireless voice-enabled speaker called Echo, which is equipped with advanced features like music playback, voice interaction, audiobook playback, and real-time information provision.

  • Apple Inc. - Apple Inc. produces and designs digital devices such as communication gadgets, music players, software services, and accessories, as well as third-party applications and content. Their main products include iPhones, iPads, Mac computers, iOS software, iCloud storage, and iTunes media player. Apple distributes its products through direct sales, retailers, and third-party cellular network carriers, wholesalers, retailers, and value-added resellers. The company has developed a voice-activated intelligent assistant called Siri, which is integrated into various Apple products like iPhones, iPads, iPods, Apple Watches, and Apple TVs. Siri's speech technology was developed in collaboration with Nuance Communication Inc. Apple sells its products to consumers, enterprises, educational institutions, and government organizations worldwide.

  • Baidu, Inc. - Baidu Inc., a prominent Chinese Internet search company, offers a platform for new businesses to connect with potential customers in addition to its search services. The company's operations are divided into three segments: search services, iQiyi, and transaction services. The transaction services segment encompasses Baidu takeout delivery, Baidu Nuomi, Baidu Connect, Baidu Maps, and Baidu Wallet. Baidu's iQiyi segment is an online video platform that features a vast content library. Baidu is currently developing a voice recognition application called "Deep Speech 2," which can also recognize Mandarin speech. The company also provides Wrap-CTC as a software development kit that can be integrated into various applications to incorporate this voice recognition technology.

  • BioTrust ID B.V. - BioTrust ID B.V. is a company that offers biometric authentication software. Their technology combines personal information and physical attributes, such as voice patterns or facial features, for user authentication. BioTrust ID B.V. Provides solutions for account recovery, mobile authentication, caller authentication, proof-of-life, proof of presence, and E-signing. The company caters to various industries including financial services, travel, healthcare, and government. BioTrust ID B.V. Was formed through the merger of VoiceTrust and USoft B.V. In November 2015. The company has additional offices and R&D locations worldwide. BioTrust ID B.V.'s clients include Eno, Koninklijke Philips N.V., Lloyd's Register Group Services Limited, Inspectie van het Onderwijs, Strukton, Gemeente Utrecht, Menzis, Pluripharm, Sandd, Lloyds Banking Group, Achmea.nl, ABN AMRO Bank N.V., Frontica Business Solutions, AXA, ITV plc, Eurocontrol, Skyteam, Robobank, Schiphol, and KLM.

  • Google LLC - Google LLC deals in providing solutions to various companies related to Internet and computer software. The international company focusses on Internet-related services and products. The business is a wholly-owned subsidiary of Alphabet, Inc. Google operates its business from 70 offices in over 40 countries (as of December 2015) across the globe. Google’s voice recognition product portfolio includes Google Now and application programming interfaces such as Google Cloud Search API. The company provides several products and services including Application Programming Interfaces (APIs), enterprise products, productivity tools, search engines, social networking applications, mobile devices, and advertisement services.

  • International Business Machines Corporation - IBM Corporation, commonly referred to as IBM, is a prominent multinational technology and consulting corporation that operates in over 170 countries. IBM provides various solutions such as IT consulting and services, computer hardware, and software. The company is known for manufacturing and commercializing computer hardware, software, and middleware, as well as offering infrastructure, consulting, and hosting services in various fields such as nanotechnology and mainframe computers. IBM offers a range of services including business, IT, outsourcing, financing, lab services, and training. One of the voice recognition products offered by IBM is Watson Speech-to-Text.

  • Microsoft - Microsoft Corporation is a well-known company that produces and distributes computer hardware, software, and consumer electronics devices. Its operations span over 210 countries worldwide. Microsoft manufactures products such as Xbox and devices and provides solutions for businesses, developers, IT professionals, students, and educators. The company has developed an intelligent virtual assistant called Cortana that utilizes speech recognition technology. In addition to Cortana, Microsoft offers APIs and SDKs such as the Microsoft Speech API, which integrates speech recognition technology and speech synthesis processes within Windows applications like Microsoft Office, Microsoft Agent, and Microsoft Speech Server.

  • M*Modal, Inc. - M*Modal, Inc. Is a U.S.-based technology and healthcare solutions provider that caters to the healthcare industry worldwide. The company operates in various countries including India, the Philippines, Belgium, Canada, and the UK, in addition to the U.S. M*Modal offers speech understanding solutions to the healthcare industry that combine natural language understanding and native speech recognition techniques to create clinically encoded and structured documents. In February 2019, the company's technology business was acquired by 3M, a multinational conglomerate organization headquartered in the U.S. This acquisition helped M*Modal expand its global reach and client base. In July 2012, M*Modal was acquired by One Equity Partners, the private investment arm of JP Morgan Chase & Co., for nearly USD 1.1 billion. M*Modal's product portfolio includes speech recognition solutions, virtual assistant solutions, and transcription solutions, which are now offered under 3M's clinical solutions product division. 

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Voice And Speech Recognition Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2017 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Voice And Speech Recognition Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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