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