Voice & Speech Recognition Technology Market by Technology, Vertical

Description

List of Tables

The Global Voice & Speech Recognition Technology Market is forecasted to grow significantly, with a projected USD 19.73 billion in 2023 at a CAGR of 23.88% and expected to reach a staggering USD 88.73 billion by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Voice & Speech Recognition Technology Market. The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Voice & Speech Recognition Technology Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Technology, market is studied across Artificial Intelligence Based and Non-Artificial Intelligence Based. The Artificial Intelligence Based is projected to witness significant market share during forecast period.

Based on Vertical, market is studied across Automotive, BFSI, Consumer, Education, Enterprise, Government, Healthcare, Legal, Military, and Retail & Consumer Goods. The Enterprise is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa is projected to witness significant market share during forecast period.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Voice & Speech Recognition Technology Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation

5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Voice & Speech Recognition Technology Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Voice & Speech Recognition Technology Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Voice & Speech Recognition Technology Market?

4. What is the competitive strategic window for opportunities in the Global Voice & Speech Recognition Technology Market?

5. What are the technology trends and regulatory frameworks in the Global Voice & Speech Recognition Technology Market?

6. What is the market share of the leading vendors in the Global Voice & Speech Recognition Technology Market?

7. What modes and strategic moves are considered suitable for entering the Global Voice & Speech Recognition Technology Market?

Product Code: MRR-0D217D5AFCC1

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Voice & Speech Recognition Technology Market, by Technology, 2022 vs 2030
4.3. Voice & Speech Recognition Technology Market, by Vertical, 2022 vs 2030
4.4. Voice & Speech Recognition Technology Market, by Region, 2022 vs 2030

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising adoption of advanced electronic devices
  - 5.1.1.2. Increasing demand for voice-driven navigation systems and workstations
  - 5.1.1.3. Growing adoption in the healthcare sector
- 5.1.2. Restraints
  - 5.1.2.1. Errors due to background noise
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of voice-enabled in-car infotainment systems
  - 5.1.3.2. Increasing penetration of voice-enabled IoT devices in smart home automation
- 5.1.4. Challenges
  - 5.1.4.1. Limitation of software to understand contextual relation
5.2. Market Trends
5.3. Cumulative Impact of COVID-19
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework
5.9. Client Customization

6. Voice & Speech Recognition Technology Market, by Technology

6.1. Introduction
6.2. Artificial Intelligence Based
6.3. Non-Artificial Intelligence Based

7. Voice & Speech Recognition Technology Market, by Vertical

7.1. Introduction
7.2. Automotive
7.3. BFSI
7.4. Consumer
7.5. Education
7.6. Enterprise
7.7. Government
7.8. Healthcare
7.9. Legal
7.10. Military
7.11. Retail & Consumer Goods

8. Americas Voice & Speech Recognition Technology Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Voice & Speech Recognition Technology Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Voice & Speech Recognition Technology Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. FPNV Positioning Matrix
11.2. Market Share Analysis, By Key Player
11.3. Competitive Scenario Analysis, By Key Player

12. List of Company Mentioned

13. Appendix

13.1. Discussion Guide
13.2. License & Pricing