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Speech & Voice Recognition Market by Technology (Speech Recognition, Voice Recognition), Application (AI Based, Non AI Based), Vertical (Automotive, Consumer, Finance, Retail, Military, Healthcare & Government) and Geography - Global Forecast to 2022

Speech & Voice Recognition Market by Technology (Speech Recognition, Voice Recognition), Application (AI Based, Non AI Based), Vertical (Automotive, Consumer, Finance, Retail, Military, Healthcare & Government) and Geography - Global Forecast to 2022

The speech recognition market is expected to grow from USD 3.73 billion in 2015 to reach USD 9.97 billion by 2022, at a CAGR of 15.78% during the forecast period. The voice recognition market is expected to grow from USD 440.3 million in 2015 to reach USD 1.99 Billion by 2022, at a CAGR of 23.66% between 2016 and 2022. The factors driving the speech recognition market are the increasing acceptance of speech recognition solutions in the healthcare and banking, financial services, and insurance sectors for time and attendance monitoring. On the other hand, the growth of the voice recognition market is driven by factors such as the increasing acceptance of biometric technologies such as voice verification for remote authentication applications.

“Growing mobile banking application drives the voice recognition market while widespread adoption of mobile- and cloud-based computer technology drives the speech recognition market”
The installation of biometric security for mobile banking is driving the demand for voice recognition technology in the banking & finance sector. The governments in various countries are among the major end users of voice recognition technology. The growing adoption of automated and smart applications in consumer and healthcare industries is the major contributor for the growth of the speech recognition market. The speech recognition technology holds the major market size because of its increasing adoption by major players such as Google, Apple, and Microsoft.

“Speech & voice recognition market in Asia-Pacific to grow at a high rate”
Self-service applications in Asia-Pacific emerged in 2008 as the developing economies witnessed strong organic growth in sectors such as telecom and banking. The growth in the customer care services in various verticals such as banks, telecom, travel, and hospitality contributes to the growth of the speech & voice recognition market to combat the increasing occurrence of fraudulent activities in these sectors. China, Japan, and India are the fastest-growing economies in Asia-Pacific. Their financial strength enables them to make significant investments in the biometric sector for security-related applications. Several government projects are increasingly using voice biometrics for the purpose of security and authentication. The presence of major consumer electronics device manufacturers such as Samsung (South Korea) and Sony (Japan) creates a lucrative market for speech & voice recognition technology in this region.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profile of primary participants is given below:
By Company Type: Tier 1 – 30 %, Tier 2 – 50%, and Tier 3 – 20%
By Designation: C level – 40%, Director Level – 25%, and Others – 35%
By Region: North America – 39%, Europe – 31%, APAC – 17%, and RoW – 13%

Major players in the speech & voice recognition market are Nuance Communications (U.S.), Microsoft Inc. (U.S), Agnitio SL (Spain), Biotrust (Netherland), VoiceVault (U.S.), VoiceBox Technologies Corp. (U.S.), LumenVox LLC. (U.S.), M2Sys LLC (U.S.), Raytheon BBN Technologies (U.S.), M2SyS LLC (U.S.) ValidSoft UK Limited (U.K.), Advanced Voice Recognition Systems (U.S.), Sensory Inc. (U.S.), and MMODAL Inc. (U.S.).

Reasons to Buy the Report:
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the speech & voice recognition market comprehensively and provides the closest approximations of the market sizes for the overall market and sub-segments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.


  • INTRODUCTION
    • OBJECTIVES OF STUDY
    • MARKET DEFINITION
    • STUDY SCOPE
      • MARKETS COVERED
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN & DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • DRIVERS FOR THE SPEECH & VOICE RECOGNITION MARKET
    • SPEECH & VOICE RECOGNITION MARKET, BY REGION
    • SPEECH & VOICE RECOGNITION MARKET, BY VERTICAL AND REGION
    • SPEECH & VOICE RECOGNITION TECHNOLOGY MARKET, BY TECHNOLOGY, 2016-2022
    • SPEECH & VOICE RECOGNITION MARKET, BY VERTICAL, 2016-2022
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET SEGMENTATION
      • SPEECH & VOICE RECOGNITION MARKET, BY TECHNOLOGY
        • Table SPEECH & VOICE RECOGNITION MARKET SEGMENTATION: BY TECHNOLOGY
      • SPEECH & VOICE RECOGNITION, BY VERTICAL
        • Table SPEECH & VOICE RECOGNITION MARKET SEGMENTATION: BY VERTICAL
      • SPEECH & VOICE RECOGNITION MARKET, BY REGION
        • Table SPEECH & VOICE RECOGNITION MARKET SEGMENTATION: BY REGION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • INDUSTRY TRENDS
    • INTRODUCTION
    • VALUE CHAIN ANALYSIS
    • INDUSTRY TRENDS
      • Table BIOMETRIC APPLICATIONS DRIVES THE VOICE RECOGNITION MARKET GROWTH AND CONSUMER ELECTRONICS DRIVES THE SPEECH RECOGNITION MARKET
    • PORTER'S FIVE FORCES ANALYSIS
      • THREAT OF NEW ENTRANTS
      • BARGAINING POWER OF SUPPLIERS
      • THREAT OF SUBSTITUTES
      • BARGAINING POWER OF BUYERS
      • INTENSITY OF COMPETITIVE RIVARLY
  • DELIVERY METHODS OF SPEECH & VOICE RECOGNITION TECHNOLOGY
    • INTRODUCTION
    • ARTIFICIAL INTELLIGENCE BASED
    • NON ARTIFICIAL INTELLIGENCE BASED
  • SPEECH & VOICE RECOGNITION MARKET, BY TECHNOLOGY
    • INTRODUCTION
      • Table SPEECH & VOICE RECOGNITION MARKET, BY TECHNOLOGY, 2013-2022 (USD MILLION)
    • VOICE RECOGNITION
      • SPEAKER IDENTIFICATION
      • SPEAKER VERIFICATION
        • Table VOICE RECOGNITION MARKET, BY VERTICAL, 2013-2022 (USD MILLION)
        • Table VOICE RECOGNITION MARKET, BY REGION, 2013-2022 (USD MILLION)
        • Table VOICE RECOGNITION MARKET IN AMERICAS, BY VERTICAL, 2013-2022 (USD MILLION)
        • Table VOICE RECOGNITION EUROPE MARKET, BY END-USER INDUSTRY, 2013-2022 (USD MILLION)
        • Table VOICE RECOGNITION MARKET IN ASIA-PACIFIC, BY VERTICAL, 2013-2022 (USD MILLION)
        • Table VOICE RECOGNITION MARKET IN REST OF THE WORLD, BY VERTICAL, 2013-2022 (USD MILLION)
    • SPEECH RECOGNITION
      • AUTOMATIC SPEECH RECOGNITION
      • TEXT-TO-SPEECH
        • Table SPEECH RECOGNITION MARKET, BY VERTICAL, 2013-2022 (USD MILLION)
        • Table SPEECH RECOGNITION MARKET, BY REGION, 2013-2022 (USD MILLION)
        • Table SPEECH RECOGNITION MARKET IN AMERICAS, BY VERTICAL, 2013-2022 (USD MILLION)
        • Table SPEECH RECOGNITION MARKET IN EUROPE, BY VERTICAL, 2013-2022 (USD MILLION)
        • Table SPEECH RECOGNITION MARKET IN ASIA-PACIFIC, BY VERTICAL, 2013-2022 (USD MILLION)
        • Table SPEECH RECOGNITION MARKET IN REST OF THE WORLD, BY VERTICAL, 2013-2022 (USD MILLION)
  • 5SPEECH & VOICE RECOGNITION MARKET, BY VERTICAL
    • INTRODUCTION
      • Table SPEECH & VOICE RECOGNITION MARKET, BY VERTICAL, 2013-2022 (USD MILLION)
    • AUTOMOTIVE VERTICAL
      • Table SPEECH & VOICE RECOGNITION MARKET FOR AUTOMOTIVE VERTICAL, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR AUTOMOTIVE VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR AUTOMOTIVE VERTICAL, BY REGION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR AUTOMOTIVE VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR AUTOMOTIVE VERTICAL, BY REGION, 2013-2022 (USD MILLION)
    • ENTERPRISE VERTICAL
      • Table SPEECH & VOICE RECOGNITION MARKET FOR ENTERPRISE VERTICAL, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR ENTERPRISEVERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR ENTERPRISE VERTICAL, BY REGION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR ENTERPRISE VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR ENTERPRISE VERTICAL, BY REGION, 2013-2022 (USD MILLION)
    • CONSUMER VERTICAL
      • Table SPEECH & VOICE RECOGNITION MARKET FOR CONSUMER VERTICAL, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR CONSUMER VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR MOBILE DEVICE APPLICATION, BY TYPE, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR WEARABLE DEVICE APPLICATION, BY TYPE, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR CONSUMER VERTICAL, BY REGION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET IN CONSUMER VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR MOBILE DEVICE APPLICATION, BY TYPE, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR WEARABLE DEVICE APPLICATION, BY TYPE, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR CONSUMER VERTICAL, BY REGION, 2013-2022 (USD MILLION)
    • FINANCE VERTICAL
      • Table SPEECH & VOICE RECOGNITION MARKET FOR FINANCE VERTICAL, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR FINANCE VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION TECHNOLOGY MARKET FOR FINANCE VERTICAL, BY REGION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR FINANCE VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR FINANCE VERTICAL, BY REGION, 2013-2022 (USD MILLION)
    • GOVERNMENT VERTICAL
      • Table SPEECH & VOICE RECOGNITION MARKET FOR GOVERNMENT VERTICAL, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR GOVERNMENT VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR GOVERNMENT VERTICAL, BY REGION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR GOVERNMENT VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR GOVERNMENT VERTICAL, BY REGION, 2013-2022 (USD MILLION)
    • RETAIL VERTICAL
      • Table SPEECH & VOICE RECOGNITION MARKET FOR RETAIL VERTICAL, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR RETAIL VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR RETAIL VERTICAL, BY REGION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR RETAIL VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
    • HEALTHCARE VERTICAL
      • Table SPEECH & VOICE RECOGNITION MARKET FOR HEALTHCARE VERTICAL, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR HEALTHCARE VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR HEALTHCARE VERTICAL, BY REGION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR HEALTHCARE VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR HEALTHCARE VERTICAL, BY REGION, 2013-2022 (USD MILLION)
    • MILITARY VERTICAL
      • Table SPEECH & VOICE RECOGNITION MARKET FOR MILITARY VERTICAL, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR MILITARY VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR MILITARY VERTICAL, BY REGION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR MILITARY VERTICAL, BY APPLICATION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR MILITARY VERTICAL, BY REGION, 2013-2022 (USD MILLION)
    • OTHER VERTICALS
      • Table SPEECH & VOICE RECOGNITION MARKET FOR OTHER VERTICALS, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table VOICE RECOGNITION MARKET FOR OTHER VERTICALS, BY REGION, 2013-2022 (USD MILLION)
      • Table SPEECH RECOGNITION MARKET FOR OTHER VERTICALS, BY REGION, 2013-2022 (USD MILLION)
  • 66SPEECH & VOICE RECOGNITION MARKET, BY GEOGRAPHY
    • INTRODUCTION
      • Table SPEECH & VOICE RECOGNITION MARKET, BY REGION, 2014-2022 (USD MILLION)
    • AMERICAS
      • Table SPEECH & VOICE RECOGNITION MARKET IN AMERICAS, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table SPEECH & VOICE RECOGNITION MARKET IN AMERICAS, BY VERTICAL, 2013-2022 (USD MILLION)
      • Table SPEECH & VOICE RECOGNITION MARKET IN AMERICAS, BY COUNTRY, 2013-2022 (USD MILLION)
    • EUROPE
      • Table SPPECH & VOICE RECOGNITION MARKET IN EUROPE, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table SPEECH & VOICE RECOGNITION MARKET IN EUROPE, BY VERTICAL, 2013-2022 (USD MILLION)
      • Table SPEECH & VOICE RECOGNITION MARKET IN EUROPE, BY COUNTRY, 2013-2022 (USD MILLION)
    • ASIA-PACIFIC
      • Table SPEECH & VOICE RECOGNITION MARKET IN ASIA-PACIFIC, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table SPPECH & VOICE RECOGNITION MARKET IN ASIA-PACIFIC, BY VERTICAL, 2013-2022 (USD MILLION)
      • Table SPEECH & VOICE RECOGNITION MARKET IN ASIA-PACIFIC, BY COUNTRY, 2013-2022 (USD MILLION)
    • REST OF THE WORLD
      • Table SPEECH & VOICE RECOGNITION MARKET IN ROW, BY TECHNOLOGY, 2013-2022 (USD MILLION)
      • Table SPEECH & VOICE RECOGNITION MARKET IN ROW, BY VERTICAL, 2013-2022 (USD MILLION)
      • Table SPEECH & VOICE RECOGNITION MARKET IN REST OF THE WORLD, BY REGION, 2013-2022 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • RANKING ANALYSIS, SPEECH & VOICE RECOGNITION MARKET IN 2016
      • Table NUANCE COMMUNICATIONS (U.S.) AND MICROSOFT INC. (U.S) EXPECTED TO LEAD SPEECH & VOICE RECOGNITION MARKET IN 2016
    • SIGNIFICANT DEVELOPMENTS IN SPEECH & VOICE RECOGNITION MARKET
      • Table NEW PRODUCT DEVELOPMENT (2013-2016)
      • Table MERGERS & ACQUISITIONS (2013-2016)
      • Table PARTNERSHIP/ AGREEMENT (2013-2016)
      • Table OTHERS (2012-2014)
  • COMPANY PROFILES
    • INTRODUCTION
    • NUANCE COMMUNICATIONS INC.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • MICROSOFT CORPORATION
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • AGNITIO SL
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • RAYTHEON BBN TECHNOLOGIES
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • VALIDSOFT UK LIMITED
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • SENSORY, INC.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • BIOTRUST ID B.V.
      • BUSINESS OVERVIEW
      • PRODUCTS & SERVICES
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • VOICEVAULT INC
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • VOICEBOX TECHNOLOGIES CORP.
      • BUSINESS OVERVIEW
      • PRODUCTS & SERVICES
      • RECENT DEVELOPMENTS
    • LUMENVOX, LLC
      • BUSINESS OVERVIEW
      • PRODUCTS & SERVICES
      • RECENT DEVELOPMENTS
    • M2SYS LLC
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • ADVANCED VOICE RECOGNITION SYSTEMS, INC.
      • BUSINESS OVERVIEW
      • PATENT PORTFOLIO
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • MMODAL INC.
      • BUSINESS OVERVIEW
      • PRODUCTS & SERVICES
      • RECENT DEVELOPMENTS
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS

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