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Global Speech Recognition Software Market 2016-2020

About Speech Recognition Software

A speech recognition software identifies words spoken by an individual or speaker into a microphone, converts them into a computer-readable format, and responds automatically. These software applications recognize speech in multiple languages. These applications are used both by individual consumers and enterprises in the healthcare; banking, financial services, and insurance; legal; and telecommunications sectors for a number of purposes including fraud management, speaker verification, speaker identification, biometrics, and vehicle telematics. The biometrics segment is seeing a high demand for speech recognition software because of the growing instances of fraud. Vendors are developing easy-to-deploy and cost-effective speech recognition applications that help in fraud management.

Technavio’s analysts forecast the global speech recognition software market to grow at a CAGR of 16.99% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global speech recognition software market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of speech recognition solutions, including software, integrated solutions, and services.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Speech Recognition Software Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • AT&T
  • IBM
  • Microsoft
  • Nuance Communications
Other prominent vendors
  • Dolby Systems
  • LumenVox
  • OnMobile Global
  • Raytheon BBN Technologies
  • Sensory
  • Tellme Networks
  • Voxeo
Market driver
  • Increased use of biometrics
  • For a full, detailed list, view our report
Market challenge
  • Lack of accuracy
  • For a full, detailed list, view our report
Market trend
  • Increased use of voice passwords
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Cardiovascular Training Equipment Market 2016-2020

Technavio recognizes the following companies as the key players in the Global Cardiovascular Training Equipment Market: Cybex International, Inc., ICON Health and Fitness, Nautilus, Inc., Precor, Inc., Technogym.

Other Prominent Vendors in the market are: Accell Fitness, Asian Sports & Enterprises, Body Solid, Bullworker Enterprises, Fitness EM, Hudson Aquatic Systems, HydroWorx, Hydro Physio, Johnson Health Tech, Jerai Fitness, Life fitness, Rocky Mountain Fitness, Torque Fitness, and Vibrogym.

Commenting on the report, an analyst from Technavio’s team said: “Consumers are increasingly exhibiting a demand for instructor-led workouts that offer proper training as well as fun and creative ways to stay in shape. Health clubs and studios have started offering group fitness classes that combine various workout formats to make the exercise regimen more interactive. By 2016, equipment companies aim to deliver solutions that enable clubs and studios to create a variety of combined formats, such as cycling and boxing, treadmill running and strength training, and rowing and body-weight training. This will lead to an increase in demand for fitness equipment, including cardiovascular training equipment, in the future.”

According to the report, increased work pressure and busy schedules have forced people to resort to unhealthy eating habits, with no or little time for a workout. However, the increased awareness of the benefits of a healthy lifestyle is encouraging people to opt for healthy diets and daily exercise to remain healthy and avoid health issues. As a result, the demand for fitness equipment is on the rise.

Further, the report states that the rising interest among consumers toward yoga, high-intensity interval training (HIIT), aerobics, and swimming poses a challenge for the global cardiovascular training equipment market.

Companies Mentioned

AT&T, IBM, Microsoft, Nuance Communications, Dolby Systems, LumenVox, OnMobile Global, Raytheon BBN Technologies, Sensory, Tellme Networks, Voxeo.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Automatic speech recognizer workflow
    • Technology segments
    • Advantages and disadvantages of speech recognition software
    • Market size and forecast
      • Table Global speech recognition software market 2015-2020 ($ billions)
    • Global speech recognition market by product segmentation 2015
      • Table Global speech recognition market by product segmentation 2015
  • Five forces analysis
    • Table Five forces analysis
  • Market segmentation by application
    • Global speech recognition software market by application
      • Table Global speech recognition software market by application 2015
      • Table Global speech recognition software market by applications 2015-2020
      • Table Global speech recognition software market by applications, 2015-2020 ($ millions)
  • Market segmentation by end-user
    • Enterprise users
      • Table Market segmentation by end-user 2015
    • Individual users
  • Geographical segmentation
    • Global speech recognition software market by region
      • Table Global speech recognition software market by region 2015
      • Table Global speech recognition software market by region 2015-2020
    • Global speech recognition software market by region 2015-2020 (revenue)
      • Table Global speech recognition software market by region 2015-2020 ($ millions)
  • Key leading countries
    • US
      • Table Impacting factors in US
    • UK
      • Table Impacting factors in UK
    • Japan
      • Table Impacting factors in Japan
  • Buying Criteria
    • Table Buying criteria
  • Market drivers
    • Increased use of biometrics
    • Demand for speech recognition on mobile devices
    • Use of speech recognition in healthcare industry
    • Need to improve competitive approach
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Lack of accuracy
    • Security concerns
    • Lack of awareness among end-users
    • Inability to suppress surrounding noise
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Increased use of voice passwords
    • Integration of voice verification with speech recognition
    • Use in the gaming industry
    • Technological advances in speech recognition technology
  • Vendor landscape
    • Competitive scenario
    • Description of major vendors
    • Other prominent vendors
      • Table Product offerings of other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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