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 coupled with technology developments that make speech recognition more accurate, intelligent and fluid.
Speech recognition technology takes convenience of mobile phones a step further by enabling voice command and voice control features, which allow mobile users to vocally operate key device functions. Capable of recognizing voice commands, speech recognition technology allows mobile users to verbally input commands for desired action instead of physically maneuvering through user interface and selecting required function, thus providing unchallenged ease of use, especially while accessing key functions such as searching contact list from phone book, allowing voice dialing, or searching information over mobile Internet. Increasing sophistication of speech recognition technology is also allowing users to verbally create text (SMS) messages rather than manually type the entire content, thereby adding to the technology's charm. The growing use of mobile handsets, both by consumers as well as enterprise users represent the primary factor for the strong evolution of the market in recent years.
[Voice-based user interface technologies] such as speech recognition is expected to become an all-time application tool for smartphone, tablets, and smartwatch users in terms of hands-free calling, virtual digital assistants (VDAs), and always-on interfaces, among others. More than 80% of the mobile devices would have speech recognition by end of the decade as compared to only 50% in 2015 with over 50% of searches expected to be through speech. Future growth in the market will be driven by the growing adoption of [Conversational User Interfaces (CUI)] in mobile devices supported by developments in conversational virtual agents, Artificial Intelligence and Big Data advances, and development of various intelligent applications. The rising interest shown by mobile manufacturers, mobile service providers, content providers and mobile application developers in increasing the efficiency and precision of speech recognition capabilities and expanding applications of speech recognition to other mobile functions is also expected to benefit market expansion.
Voice commands used for locating data in the devices is another major research area of interest for companies. As speech recognition accuracy significantly increase to 98-99% incorporating large vocabulary, continuous speech recognition and better recognition capabilities, adoption rates are forecast to explode in the coming years. Rapid proliferation of smartphones with built-in speech recognition applications and growing number of voice enabled web portals will also lend traction to market growth.
The United States represents the largest market worldwide supported by a large base of avid smartphone users with a penchant for advanced enabling technologies. Asia-Pacific ranks as the fastest growing market with a CAGR of 17% over the analysis period, led by factors such as 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 of mobile speech recognition software.
Key players in the market include Advanced Voice Recognition Systems Inc., Amazon Inc., Apple Inc., AT&T Inc., Baidu Inc., Cisco Systems Inc., Google Inc., International Business Machines Corporation, LumenVox LLC, Microsoft Corporation, Nuance Communications Inc., and Sensory Inc., among others.