Dublin, Sept. 13, 2021 (GLOBE NEWSWIRE) -- The "Speech Technology Market Research Report by Function, by Application, by Delivery Method, by Region - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Speech Technology Market size was estimated at USD 11.66 Billion in 2020 and expected to reach USD 13.92 Billion in 2021, at a Compound Annual Growth Rate (CAGR) 19.76% to reach USD 34.41 Billion by 2026.
Market Statistics:
The report provides market sizing and forecast across five major currencies - USD, EUR GBP, JPY, and AUD. It helps organization leaders make better decisions when currency exchange data is readily available. In this report, the years 2018 and 2019 are considered historical years, 2020 as the base year, 2021 as the estimated year, and years from 2022 to 2026 are considered the forecast period.
Market Segmentation & Coverage:
This research report categorizes the Speech Technology to forecast the revenues and analyze the trends in each of the following sub-markets:
- Based on Function, the Speech Technology Market was studied across Interactive Voice Response (IVR), Real-time Speech to Text Conversion, Speech Analytics, Speech Recognition, Speech Synthesis, and Speech Verification.
- Based on Deployment, the Speech Technology Market was studied across On-Cloud and On-Premise.
- Based on Application, the Speech Technology Market was studied across Aerospace & Defence Security, Government & Public Sector, Healthcare & Life Sciences, IT & telecommunicataion, Personal Assistance, Retail, and Automotive.
- Based on Delivery Method, the Speech Technology Market was studied across Artificial Intelligence Based and Non-Artificial Intelligence Based.
- Based on Region, the Speech Technology Market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, and Thailand. The Europe, Middle East & Africa is further studied across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Speech Technology Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Company Usability Profiles:
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Speech Technology Market, including Acapela Group, AIBrain, Alphabet, Amazon Web Services, Anki, Apple, Baidu, Biotrust Id, Cantab Research, Facebook, Iflytek, Lumenvox, M2sys, Microsoft, Mmodal, Nuance Communication, Quantiphi, Inc., Raytheon BBN Technologies, Sensory, Siemens, Speak2Web, Uniphore Software, Validsoft, Vocalzoom, and Voicevault.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Global Speech Technology Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Speech Technology Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Speech Technology Market?
4. What is the competitive strategic window for opportunities in the Global Speech Technology Market?
5. What are the technology trends and regulatory frameworks in the Global Speech Technology Market?
6. What is the market share of the leading vendors in the Global Speech Technology Market?
7. What modes and strategic moves are considered suitable for entering the Global Speech Technology Market?
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Cumulative Impact of COVID-19
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Rapid penetration of multifunctional and smart voice enabled IoT devices
5.1.1.2. Growing healthcare, mobile banking, and smart home automation applications
5.1.1.3. Increased demand for speech-based biometric systems for multifactor authentication
5.1.1.4. Potential impact of AI on accuracy of speech and voice recognition
5.1.2. Restraints
5.1.2.1. Associated high cost for implementation of speech technology system
5.1.2.2. Potential parameters such as noise and uncertain environment affecting accuracy of speech recognition system
5.1.3. Opportunities
5.1.3.1. Growing number of voice control-based smart assistive devices in enterprise verticals for the consumers
5.1.3.2. Potential development of speech technology system for micro-linguistics and local languages
5.1.3.3. Growing demand in autonomous cars, service robotics and education sector for disabled students
5.1.4. Challenges
5.1.4.1. Standardized platform for developing customized speech recognition systems
5.1.4.2. Geographies with low internet penetration rate
5.2. Porters Five Forces Analysis
5.2.1. Threat of New Entrants
5.2.2. Threat of Substitutes
5.2.3. Bargaining Power of Customers
5.2.4. Bargaining Power of Suppliers
5.2.5. Industry Rivalry
6. Speech Technology Market, by Function
6.1. Introduction
6.2. Interactive Voice Response (IVR)
6.3. Real-time Speech to Text Conversion
6.4. Speech Analytics
6.5. Speech Recognition
6.6. Speech Synthesis
6.7. Speech Verification
7. Speech Technology Market, by Deployment
7.1. Introduction
7.2. On-Cloud
7.3. On-Premise
8. Speech Technology Market, by Application
8.1. Introduction
8.2. Aerospace & Defence Security
8.3. Government & Public Sector
8.4. Healthcare & Life Sciences
8.5. IT & telecommunicataion
8.6. Personal Assistance
8.7. Retail
8.8. Automotive
9. Speech Technology Market, by Delivery Method
9.1. Introduction
9.2. Artificial Intelligence Based
9.3. Non-Artificial Intelligence Based
10. Americas Speech Technology Market
10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States
11. Asia-Pacific Speech Technology Market
11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Thailand
12. Europe, Middle East & Africa Speech Technology Market
12.1. Introduction
12.2. France
12.3. Germany
12.4. Italy
12.5. Netherlands
12.6. Qatar
12.7. Russia
12.8. Saudi Arabia
12.9. South Africa
12.10. Spain
12.11. United Arab Emirates
12.12. United Kingdom
13. Competitive Landscape
13.1. FPNV Positioning Matrix
13.1.1. Quadrants
13.1.2. Business Strategy
13.1.3. Product Satisfaction
13.2. Market Ranking Analysis
13.3. Market Share Analysis, By Key Player
13.4. Competitive Scenario
13.4.1. Merger & Acquisition
13.4.2. Agreement, Collaboration, & Partnership
13.4.3. New Product Launch & Enhancement
13.4.4. Investment & Funding
13.4.5. Award, Recognition, & Expansion
14. Company Usability Profiles
14.1. Acapela Group
14.2. AIBrain
14.3. Alphabet
14.4. Amazon Web Services
14.5. Anki
14.6. Apple
14.7. Baidu
14.8. Biotrust Id
14.9. Cantab Research
14.10. Facebook
14.11. Iflytek
14.12. Lumenvox
14.13. M2sys
14.14. Microsoft
14.15. Mmodal
14.16. Nuance Communication
14.17. Quantiphi, Inc.
14.18. Raytheon BBN Technologies
14.19. Sensory
14.20. Siemens
14.21. Speak2Web
14.22. Uniphore Software
14.23. Validsoft
14.24. Vocalzoom
14.25. Voicevault
15. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/9ynglz
