Growing Prominence of Voice-Based User Interface Technologies in Mobile Devices Drives the Mobile Speech Recognition Software Market
Published: May 2017
- Code: MCP-7709
- Pages: 175
- Tables: 53
- Companies: 26
MOBILE SPEECH RECOGNITION SOFTWARE: A RESEARCH BRIEF
The global market for Mobile Speech Recognition Software is forecast to exceed US$370 million by 2024, driven by the rise of sophisticated Conversational User Interface (CUI) as a more natural, smart and productive way to communicate with mobile devices such as smartphones, tablets and smartwatches, among others. Also driving growth in the market are technology developments that make speech recognition more accurate, intelligent and fluid. Proliferation of smartphones in the consumer and enterprise markets alike, growing demand for smart features and functions such as hands-free calling, voice based search etc., and development of voice based apps, represent other broad-based market forces poised to drive penetration of mobile speech recognition technologies. The United States represents the largest market worldwide supported by a large base of avid smartphone users. Asia-Pacific ranks as the fastest growing market with a CAGR of 17% over the analysis period, led by factors such as vast untapped potential for smartphone penetration among the growing base of affluent middle class population; increased media multitasking behavior; widespread multifunctional use of mobile phones and the resulting acute need for intuitive interaction with mobile interfaces. The already active use of voice-to-text capabilities for carrying out search queries and navigation also lays the foundation for the evolution and growth of the market in the region.
- Growing Prominence of Voice-Based User Interface Technologies in Encouraging Multifunctional Use of Mobile Devices to Drive Strong Market Growth
- Advancements in Processing Power of New-Age Smartphones, Development of Cutting Edge Software Algorithms and Highly Capable Microphones to Improve Speech Recognition Efficiency
- Mobile SMS: An Underutilized Feature with Huge Untapped Potential for Mobile Speech Recognition Technology
- Development of Semiconductors Designed to Support Automatic Speech Recognition to Help Expand Applications into the Realm of Internet of Things (IoT) Devices
- Developments in Cloud Based Automatic Speech Recognition (ASR) and the Ecosystem Surrounding Wearables and Artificial Intelligence to Spur Use of ASR in Next Generation Devices
Summary of Findings
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Timeline for Analysis
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), and Rest of World
Geographic Markets Analyzed
- Advanced Voice Recognition Systems, Inc.
- Amazon, Inc.
- Apple, Inc.
- AT&T, Inc.
- Baidu, Inc.
- Cisco Systems, Inc.
- Google, Inc.
- International Business Machines Corporation
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable