EXECUTIVE ENGAGEMENTS
OUTREACH
INTERACTIONS
PARTICIPANTS
VALIDATIONS
COMPETITORS
BRANDS
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DATE
JUL 2020
TABLES
309
PAGES
415
EDITION
19
PRICE
USD $5600
HIGHLIGHTS
SELECT PLAYERS
[24]7.ai; Acapela Group; Advanced Voice Recognition Systems Inc.; Apple Inc.; Applied Voice & Speech Technologies Inc.; BioTrust ID B.V.; Convergys Corp.; Genesys Telecommunications Laboratories Inc.; Google Inc.; Honeywell International, Inc.; IBM Corp.; LumenVox LLC; Microsoft Corp.; Nuance Communications Inc.; Sensory Inc.; Sestek; Voxware Inc.; Wizzard Speech LLC
SEGMENTS
» Technology (Speech, Voice) » Deployment (Cloud, On-Premise) » End-Use (Healthcare, IT & Telecom, Automotive, BFSI, Legal, Government, Other End-Uses)
GEOGRAPHIES
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » Spain » Russia » and Rest of Europe » Asia-Pacific » Australia » India » South Korea » and Rest of Asia-Pacific » Latin America » Argentina » Brazil » Mexico » and Rest of Latin America » Middle East » Iran » Israel » Saudi Arabia » United Arab Emirates » and Rest of Middle East » and Africa
TABLE OF CONTENTS
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE |
II. EXECUTIVE SUMMARY |
1. MARKET OVERVIEW |
Recent Market Activity |
Voice and Speech Recognition Technology: Enabling Man-to-Machine Communication |
Value Chain of Voice Business |
Expanding Use Cases of Voice-based Services and Technology Advancements Propel Voice and Speech Recognition Market |
Speech Recognition Dominates Voice and Speech Recognition Technology Market |
Voice Recognition -The Faster Growing Technology Segment |
Voice Recognition Technology: A Review of Factors Influencing Growth |
Voice-based Searches |
Voice-based Authentication to Thwart Security Breaches |
Rising Popularity of Voice-based Conversational Interfaces |
China Holds Promise in the Voice Recognition Market |
Increasing Penetration of Smartphones Fuels Use of Voice Recognition Technology |
Healthcare, Consumer & Retail Sectors: Active Adopters of Voice Recognition Technology |
Expanding Applications of Voice Recognition Technology Drives Brands to Adopt New Strategies |
Automated Speech Recognition (ASR): The Widely Used Speech Recognition Technology |
Text-to-Speech Emerges as a Realistic, Natural Conversation Tool |
Text-to-speech (TTS) for Education Market - Significant Potential for Growth |
TTS Aids in Improving Customer Engagement |
Developed Markets Dominate, Developing Regions to Spearhead Future Growth |
Major Challenges Confronting Speech & Voice Recognition Market |
Global Competitor Market Shares |
Voice and Speech Recognition Technology Competitor Market Share Scenario Worldwide (in %): 2020 & 2029 |
Impact of Covid-19 and a Looming Global Recession |
2. FOCUS ON SELECT PLAYERS |
[24]7.ai (USA) |
Acapela Group (France) |
Advanced Voice Recognition Systems, Inc. (USA) |
Apple, Inc. (USA) |
Applied Voice & Speech Technologies, Inc. (USA) |
BioTrust ID B.V. (The Netherlands) |
Convergys Corp. (USA) |
Genesta Partnership (USA) |
Genesys Telecommunications Laboratories, Inc. (USA) |
Google, Inc. (USA) |
Honeywell International, Inc. (USA) |
IBM Corporation (USA) |
LumenVox LLC (USA) |
M*Modal, Inc. (USA) |
Microsoft Corporation (USA) |
Nuance Communications, Inc. (USA) |
Sensory, Inc. (USA) |
Sestek (Turkey) |
Voxware, Inc. (USA) |
Wizzard Speech LLC (USA) |
3. MARKET TRENDS & DRIVERS |
Rapid Penetration of Mobile Devices: A Major Growth Driver |
Opportunity Indicators |
Mobile Voice Portals Drive Adoption of Speech Recognition in Mobile Phones |
Voice & Speech Recognition Become Part of Primary Interface for Smartphone Users |
Sustained Sales of Tablets Benefit Speech and Voice Recognition Market |
Wearable Devices: The Next Frontier for Speech Recognition Technology |
Intelligent Virtual Assistants - A Proactive Speech Technology-based Feature |
Employing Virtual Assistants at Workplaces |
Notable Trends in the Voice Assistants Market |
Contextual Understanding to Fuel More Personalized Responses |
Device Fragmentation Poses Challenge |
Increasing Demand for Convenient, Low-Effort Experiences by Users |
To Remain Competitive, Brands Need to Continuously Innovate |
Increasing Focus on Engagement and Retention of Users |
Multimodal Solutions: The New Focus Area |
Integration of Graphic User Interface (GUI) and Voice User Interface (VUI) |
Innovations in Voice-Interface Devices |
Technology Developers Focus on Phoneme Accuracy Feature |
Speech Recognition-enabled Self-Service Technology |
Improvements in Voice Recognition Technologies: Vital for Resolving Accuracy and Security Issues |
Businesses Benefit from Numerous Advantages of Using Speech Recognition Technology |
Transformative Role of AI in Speech Recognition for Enterprise Market |
Promising Prospects for Speech Recognition Technology in Call Centers |
Rising Significance of Speech Technology for Outsourced Customer Care Services Market |
Call Centers to Leverage Proficiency of Speech Analytics |
Expanding Use of IVR Systems in Call Centers Lends Traction to Market Growth |
Growing Demand for Hosted IVR Services Fuels Demand for Speech Technology Solutions |
Voice/Speech Based Technologies Empower Call Center Training & Operations |
Voice-Driven CRM Expands Scope for Customer Interactions |
Growing Digital Engagement Drags Down Voice-Based Customer Interactions |
Rising Importance of Speech Technology in the IoT Era |
Cloud Computing Technology Revolutionizes Speech Technology Market |
Healthcare Facilities Seek the Aid of Cloud for Voice Documentation |
User Experience and Usability Take Center Stage |
Cloud Solutions Boost Adoption of Voice Recognition Technologies |
Cloud Services to Drive Mobility for Voice Authentication |
Globalization & Workforce Decentralization Spur Demand in the Enterprise Sector |
Speech Analytics Market Gathers Steam amidst the Growing Need to Gain Useful Insights from Customer Data |
Rising Popularity of Biometrics Offer Ample Growth Opportunities |
Voice Biometrics Emerges as a Game Changer for Authenticating Mobile Devices |
Growth in Mobile Biometrics - An Opportunity for Voice and Speech Recognition Market |
Increasing Security Threats Drive the Voice Verification Biometrics Market |
Favorable Trends in the IT Industry Strengthens Market Prospects |
Spurt in Internet Usage |
Move towards Convergence |
Proliferation of Embedded Devices |
Continued Expansion of Software Sector |
Rise in Social Networking |
VoIP Model Drives Demand |
Speech-based Searching Gains Momentum |
Voice - The Future Computing Technology |
Speech Technology Solutions Improves Convenience and Safety of Automobiles |
Telematics & Car Infotainment Offers Opportunities on a Platter |
Cloud-based Voice Recognition to Foster Use of Automotive Telematics |
Growing Adoption of Speech Recognition Technology in "In-Vehicle Systems" |
Suppression of In-Car Noise: Essential for Effectiveness of Voice Recognition Technology |
Blurring Demographic Barriers Encourage Voice-Enabled Car Systems |
Potential for Distractions with Voice Recognition - A Concern for Auto Industry |
With High Mental Distractions Caused by Voice Enabled HMI, Real & Effective Automotive Voice Recognition Technology Continues to Elude the Auto Industry: Risk of Mental Distraction by Type of Voice Enabled Task |
Stable Automobile Production Trends Augurs Well for Speech and Voice Recognition Technology Market |
Speech Recognition Charms Connected Media Solutions |
Audio Mining for Searching Online Audio and Video Content |
Speech Recognition Seeks Improvements in Processor Technology |
Speech Recognition Technology Transforms Banking Industry |
Increasing Adoption of Voice Biometrics in Financial Services Industry - Positive Outlook for Speech and Voice Recognition Market |
Voice Authentication Systems for Mitigating Online Banking Fraud |
Healthcare: A High Growth Market for Voice and Speech Recognition Technology |
Key Benefits and Drawbacks of Speech Recognition Technology for Healthcare Sector |
Major Benefits of Speech Recognition for Healthcare Industry |
Challenges Facing Speech Recognition Technology in Healthcare Domain |
Voice Documentation Emerge as a Preferred Means for Data Collection |
Hospitals Look towards Front-end Speech Recognition Deployments |
Radiology Department & Point-of-Care: Potential Application Areas |
Speech Recognition in Electronic Medical Records (EMR) |
Speech-Enabled Self-Service Solutions for the Healthcare Sector |
Rising Incidence of Cognitive Impairment Issues Drive Focus onto Assistive Speech Technology |
Speech Recognition Holds Major Implications for B2B Marketing |
Rising Use of Voice-Activated Commands for Home Automation Control |
Voice Skills to Power Security Cameras |
Voice Set to Emerge as Next Major Innovation in Industrial Enterprises |
Leveraging Voice Recognition Technology for Industries |
Interpol Uses Voice Recognition Technology to Identify Criminals |
Voice Recognition Chatbot to Enable More Sales for Small Businesses |
Distribution and Warehouse Management Leverages Potential of Speech Technology |
Voice Technology for Hotel Industry |
Speech Technology Finds Favor among Law Enforcement Agencies |
Law Enforcement Agencies Seek to Exploit Voice Stress Analyzer |
Increasing Use of Speech Technology in Next Generation Networks (NGNs) |
Speech Technology Facilitates Quick Information Access in the Military Sector |
Open Standards: A Key Architectural Requisite |
4. GLOBAL MARKET PERSPECTIVE |
Voice and Speech Recognition Technology Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2018-2025 |
Voice and Speech Recognition Technology Global Retrospective Market Scenario in US$ Thousand by Region/Country: 2009-2017 |
Voice and Speech Recognition Technology Market Share Shift across Key Geographies Worldwide: 2009 VS 2019 VS 2025 |
Speech (Product Type) World Market by Region/Country in US$ Thousand: 2018 to 2025 |
Speech (Product Type) Historic Market Analysis by Region/Country in US$ Thousand: 2009 to 2017 |
Speech (Product Type) Market Share Breakdown of Worldwide Sales by Region/Country: 2009 VS 2019 VS 2025 |
Voice (Product Type) Potential Growth Markets Worldwide in US$ Thousand: 2018 to 2025 |
Voice (Product Type) Historic Market Perspective by Region/Country in US$ Thousand: 2009 to 2017 |
Voice (Product Type) Market Sales Breakdown by Region/Country in Percentage: 2009 VS 2019 VS 2025 |
III. MARKET ANALYSIS |
GEOGRAPHIC MARKET ANALYSIS |
United States |
Market Facts & Figures |
US Voice and Speech Recognition Technology Market Share (in %) by Company: 2020 & 2025 |
United States Voice and Speech Recognition Technology Market Estimates and Projections in US$ Thousand by Product Type: 2018 to 2025 |
Voice and Speech Recognition Technology Market in the United States by Product Type: A Historic Review in US$ Thousand for 2009-2017 |
United States Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
Canada |
Canadian Voice and Speech Recognition Technology Market Estimates and Forecasts in US$ Thousand by Product Type: 2018 to 2025 |
Canadian Voice and Speech Recognition Technology Historic Market Review by Product Type in US$ Thousand: 2009-2017 |
Voice and Speech Recognition Technology Market in Canada: Percentage Share Breakdown of Sales by Product Type for 2009, 2019, and 2025 |
Japan |
Japanese Market for Voice and Speech Recognition Technology: Annual Sales Estimates and Projections in US$ Thousand by Product Type for the Period 2018-2025 |
Voice and Speech Recognition Technology Market in Japan: Historic Sales Analysis in US$ Thousand by Product Type for the Period 2009-2017 |
Japanese Voice and Speech Recognition Technology Market Share Analysis by Product Type: 2009 VS 2019 VS 2025 |
China |
Chinese Voice and Speech Recognition Technology Market Growth Prospects in US$ Thousand by Product Type for the Period 2018-2025 |
Voice and Speech Recognition Technology Historic Market Analysis in China in US$ Thousand by Product Type: 2009-2017 |
Chinese Voice and Speech Recognition Technology Market by Product Type: Percentage Breakdown of Sales for 2009, 2019, and 2025 |
Europe |
Market Facts & Figures |
European Voice and Speech Recognition Technology Market: Competitor Market Share Scenario (in %) for 2020 & 2025 |
European Voice and Speech Recognition Technology Market Demand Scenario in US$ Thousand by Region/Country: 2018-2025 |
Voice and Speech Recognition Technology Market in Europe: A Historic Market Perspective in US$ Thousand by Region/Country for the Period 2009-2017 |
European Voice and Speech Recognition Technology Market Share Shift by Region/Country: 2009 VS 2019 VS 2025 |
European Voice and Speech Recognition Technology Market Estimates and Forecasts in US$ Thousand by Product Type: 2018-2025 |
Voice and Speech Recognition Technology Market in Europe in US$ Thousand by Product Type: A Historic Review for the Period 2009-2017 |
European Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
France |
Voice and Speech Recognition Technology Market in France by Product Type: Estimates and Projections in US$ Thousand for the Period 2018-2025 |
French Voice and Speech Recognition Technology Historic Market Scenario in US$ Thousand by Product Type: 2009-2017 |
French Voice and Speech Recognition Technology Market Share Analysis by Product Type: 2009 VS 2019 VS 2025 |
Germany |
Voice and Speech Recognition Technology Market in Germany: Recent Past, Current and Future Analysis in US$ Thousand by Product Type for the Period 2018-2025 |
German Voice and Speech Recognition Technology Historic Market Analysis in US$ Thousand by Product Type: 2009-2017 |
German Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
Italy |
Italian Voice and Speech Recognition Technology Market Growth Prospects in US$ Thousand by Product Type for the Period 2018-2025 |
Voice and Speech Recognition Technology Historic Market Analysis in Italy in US$ Thousand by Product Type: 2009-2017 |
Italian Voice and Speech Recognition Technology Market by Product Type: Percentage Breakdown of Sales for 2009, 2019, and 2025 |
United Kingdom |
United Kingdom Market for Voice and Speech Recognition Technology: Annual Sales Estimates and Projections in US$ Thousand by Product Type for the Period 2018-2025 |
Voice and Speech Recognition Technology Market in the United Kingdom: Historic Sales Analysis in US$ Thousand by Product Type for the Period 2009-2017 |
United Kingdom Voice and Speech Recognition Technology Market Share Analysis by Product Type: 2009 VS 2019 VS 2025 |
Spain |
Spanish Voice and Speech Recognition Technology Market Estimates and Forecasts in US$ Thousand by Product Type: 2018 to 2025 |
Spanish Voice and Speech Recognition Technology Historic Market Review by Product Type in US$ Thousand: 2009-2017 |
Voice and Speech Recognition Technology Market in Spain: Percentage Share Breakdown of Sales by Product Type for 2009, 2019, and 2025 |
Russia |
Russian Voice and Speech Recognition Technology Market Estimates and Projections in US$ Thousand by Product Type: 2018 to 2025 |
Voice and Speech Recognition Technology Market in Russia by Product Type: A Historic Review in US$ Thousand for 2009-2017 |
Russian Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
Rest of Europe |
Rest of Europe Voice and Speech Recognition Technology Market Estimates and Forecasts in US$ Thousand by Product Type: 2018-2025 |
Voice and Speech Recognition Technology Market in Rest of Europe in US$ Thousand by Product Type: A Historic Review for the Period 2009-2017 |
Rest of Europe Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
Asia-Pacific |
Asia-Pacific Voice and Speech Recognition Technology Market Estimates and Forecasts in US$ Thousand by Region/Country: 2018-2025 |
Voice and Speech Recognition Technology Market in Asia-Pacific: Historic Market Analysis in US$ Thousand by Region/Country for the Period 2009-2017 |
Asia-Pacific Voice and Speech Recognition Technology Market Share Analysis by Region/Country: 2009 VS 2019 VS 2025 |
Voice and Speech Recognition Technology Market in Asia-Pacific by Product Type: Estimates and Projections in US$ Thousand for the Period 2018-2025 |
Asia-Pacific Voice and Speech Recognition Technology Historic Market Scenario in US$ Thousand by Product Type: 2009-2017 |
Asia-Pacific Voice and Speech Recognition Technology Market Share Analysis by Product Type: 2009 VS 2019 VS 2025 |
Australia |
Voice and Speech Recognition Technology Market in Australia: Recent Past, Current and Future Analysis in US$ Thousand by Product Type for the Period 2018-2025 |
Australian Voice and Speech Recognition Technology Historic Market Analysis in US$ Thousand by Product Type: 2009-2017 |
Australian Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
India |
Indian Voice and Speech Recognition Technology Market Estimates and Forecasts in US$ Thousand by Product Type: 2018 to 2025 |
Indian Voice and Speech Recognition Technology Historic Market Review by Product Type in US$ Thousand: 2009-2017 |
Voice and Speech Recognition Technology Market in India: Percentage Share Breakdown of Sales by Product Type for 2009, 2019, and 2025 |
South Korea |
Voice and Speech Recognition Technology Market in South Korea: Recent Past, Current and Future Analysis in US$ Thousand by Product Type for the Period 2018-2025 |
South Korean Voice and Speech Recognition Technology Historic Market Analysis in US$ Thousand by Product Type: 2009-2017 |
Voice and Speech Recognition Technology Market Share Distribution in South Korea by Product Type: 2009 VS 2019 VS 2025 |
Rest of Asia-Pacific |
Rest of Asia-Pacific Market for Voice and Speech Recognition Technology: Annual Sales Estimates and Projections in US$ Thousand by Product Type for the Period 2018-2025 |
Voice and Speech Recognition Technology Market in Rest of Asia-Pacific: Historic Sales Analysis in US$ Thousand by Product Type for the Period 2009-2017 |
Rest of Asia-Pacific Voice and Speech Recognition Technology Market Share Analysis by Product Type: 2009 VS 2019 VS 2025 |
Latin America |
Latin American Voice and Speech Recognition Technology Market Trends by Region/Country in US$ Thousand: 2018-2025 |
Voice and Speech Recognition Technology Market in Latin America in US$ Thousand by Region/Country: A Historic Perspective for the Period 2009-2017 |
Latin American Voice and Speech Recognition Technology Market Percentage Breakdown of Sales by Region/Country: 2009, 2019, and 2025 |
Latin American Voice and Speech Recognition Technology Market Growth Prospects in US$ Thousand by Product Type for the Period 2018-2025 |
Voice and Speech Recognition Technology Historic Market Analysis in Latin America in US$ Thousand by Product Type: 2009-2017 |
Latin American Voice and Speech Recognition Technology Market by Product Type: Percentage Breakdown of Sales for 2009, 2019, and 2025 |
Argentina |
Argentinean Voice and Speech Recognition Technology Market Estimates and Forecasts in US$ Thousand by Product Type: 2018-2025 |
Voice and Speech Recognition Technology Market in Argentina in US$ Thousand by Product Type: A Historic Review for the Period 2009-2017 |
Argentinean Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
Brazil |
Voice and Speech Recognition Technology Market in Brazil by Product Type: Estimates and Projections in US$ Thousand for the Period 2018-2025 |
Brazilian Voice and Speech Recognition Technology Historic Market Scenario in US$ Thousand by Product Type: 2009-2017 |
Brazilian Voice and Speech Recognition Technology Market Share Analysis by Product Type: 2009 VS 2019 VS 2025 |
Mexico |
Voice and Speech Recognition Technology Market in Mexico: Recent Past, Current and Future Analysis in US$ Thousand by Product Type for the Period 2018-2025 |
Mexican Voice and Speech Recognition Technology Historic Market Analysis in US$ Thousand by Product Type: 2009-2017 |
Mexican Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
Rest of Latin America |
Rest of Latin America Voice and Speech Recognition Technology Market Estimates and Projections in US$ Thousand by Product Type: 2018 to 2025 |
Voice and Speech Recognition Technology Market in Rest of Latin America by Product Type: A Historic Review in US$ Thousand for 2009-2017 |
Rest of Latin America Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
Middle East |
The Middle East Voice and Speech Recognition Technology Market Estimates and Forecasts in US$ Thousand by Region/Country: 2018-2025 |
Voice and Speech Recognition Technology Market in the Middle East by Region/Country in US$ Thousand: 2009-2017 |
The Middle East Voice and Speech Recognition Technology Market Share Breakdown by Region/Country: 2009, 2019, and 2025 |
The Middle East Voice and Speech Recognition Technology Market Estimates and Forecasts in US$ Thousand by Product Type: 2018 to 2025 |
The Middle East Voice and Speech Recognition Technology Historic Market by Product Type in US$ Thousand: 2009-2017 |
Voice and Speech Recognition Technology Market in the Middle East: Percentage Share Breakdown of Sales by Product Type for 2009, 2019, and 2025 |
Iran |
Iranian Market for Voice and Speech Recognition Technology: Annual Sales Estimates and Projections in US$ Thousand by Product Type for the Period 2018-2025 |
Voice and Speech Recognition Technology Market in Iran: Historic Sales Analysis in US$ Thousand by Product Type for the Period 2009-2017 |
Iranian Voice and Speech Recognition Technology Market Share Analysis by Product Type: 2009 VS 2019 VS 2025 |
Israel |
Israeli Voice and Speech Recognition Technology Market Estimates and Forecasts in US$ Thousand by Product Type: 2018-2025 |
Voice and Speech Recognition Technology Market in Israel in US$ Thousand by Product Type: A Historic Review for the Period 2009-2017 |
Israeli Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
Saudi Arabia |
Saudi Arabian Voice and Speech Recognition Technology Market Growth Prospects in US$ Thousand by Product Type for the Period 2018-2025 |
Voice and Speech Recognition Technology Historic Market Analysis in Saudi Arabia in US$ Thousand by Product Type: 2009-2017 |
Saudi Arabian Voice and Speech Recognition Technology Market by Product Type: Percentage Breakdown of Sales for 2009, 2019, and 2025 |
United Arab Emirates |
Voice and Speech Recognition Technology Market in the United Arab Emirates: Recent Past, Current and Future Analysis in US$ Thousand by Product Type for the Period 2018-2025 |
United Arab Emirates Voice and Speech Recognition Technology Historic Market Analysis in US$ Thousand by Product Type: 2009-2017 |
Voice and Speech Recognition Technology Market Share Distribution in United Arab Emirates by Product Type: 2009 VS 2019 VS 2025 |
Rest of Middle East |
Voice and Speech Recognition Technology Market in Rest of Middle East: Recent Past, Current and Future Analysis in US$ Thousand by Product Type for the Period 2018-2025 |
Rest of Middle East Voice and Speech Recognition Technology Historic Market Analysis in US$ Thousand by Product Type: 2009-2017 |
Rest of Middle East Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
Africa |
African Voice and Speech Recognition Technology Market Estimates and Projections in US$ Thousand by Product Type: 2018 to 2025 |
Voice and Speech Recognition Technology Market in Africa by Product Type: A Historic Review in US$ Thousand for 2009-2017 |
African Voice and Speech Recognition Technology Market Share Breakdown by Product Type: 2009 VS 2019 VS 2025 |
IV. COMPETITION |
Total Companies Profiled: 76 |