Global Voice Speech Recognition Software Market to Grow by $14.85 Billion During 2023-2027

Dublin, June 05, 2023 (GLOBE NEWSWIRE) -- The "Global Voice Speech Recognition Software Market 2023-2027" report has been added to's offering.

The voice speech recognition software market is forecast to grow by USD 14,859.93 mn during 2022-2027, accelerating at a CAGR of 13.72% during the forecast period. The report on the voice speech recognition software market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing adoption of technologically advanced mobile devices, increasing demand for voice-driven navigation systems and workstations, and the growing use of voice biometrics.

The voice speech recognition software market is segmented as below:
By Technology

  • Voice recognition
  • Speech recognition

By End-user

  • Healthcare
  • Consumer products
  • Automotive
  • Enterprise contact centers
  • Others

By Geography

  • North America
  • Europe
  • APAC
  • South America
  • Middle East and Africa

This study identifies the growing use of ai integrated with voice and speech analytics as one of the prime reasons driving the voice speech recognition software market growth during the next few years. Also, the rising use of deep neural engines and networks and the increasing of voice-enabled devices in automobiles will lead to sizable demand in the market.

The report on the voice speech recognition software market covers the following areas:

  • Voice speech recognition software market sizing
  • Voice speech recognition software market forecast
  • Voice speech recognition software market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading voice speech recognition software market vendors that include 3M Co., Alphabet Inc., Inc., Apple Inc., Baidu Inc., Brainasoft, CastleOS Software LLC, Cisco Systems Inc., iFLYTEK Co. Ltd., International Business Machines Corp., LumenVox GmbH, Meta Platforms Inc., Microsoft Corp., Optimal Technology Solutions LLC, paragon GmbH and Co. KGaA, Raytheon Technologies Corp., Sensory Inc., speak2web, Verint Systems Inc., and Advanced Voice Recognition Systems Inc. Also, the voice speech recognition software market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Key Topics Covered:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Technology

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

A selection of companies mentioned in this report includes

  • 3M Co.
  • Alphabet Inc.
  • Inc.
  • Apple Inc.
  • Baidu Inc.
  • Brainasoft
  • CastleOS Software LLC
  • Cisco Systems Inc.
  • iFLYTEK Co. Ltd.
  • International Business Machines Corp.
  • LumenVox GmbH
  • Meta Platforms Inc.
  • Microsoft Corp.
  • Optimal Technology Solutions LLC
  • paragon GmbH and Co. KGaA
  • Raytheon Technologies Corp.
  • Sensory Inc.
  • speak2web
  • Verint Systems Inc.
  • Advanced Voice Recognition Systems Inc.

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