Market Research Report
Voice and Speech Recognition - Healthcare, Automotive, Authentication & Identification, Voice Search, Voice Commerce & Customer Service, Smart Home, Analysis and Consumer Robot Applications: Market Analysis and Forecasts
|Published by||Omdia | Tractica||Product code||332285|
|Published||Content info||70 Pages; 36 Tables, Charts & Figures
Delivery time: 1-2 business days
|Voice and Speech Recognition - Healthcare, Automotive, Authentication & Identification, Voice Search, Voice Commerce & Customer Service, Smart Home, Analysis and Consumer Robot Applications: Market Analysis and Forecasts|
|Published: August 14, 2018||Content info: 70 Pages; 36 Tables, Charts & Figures||
Speech recognition technology is nothing new. Bell Laboratories introduced the Audrey system, which could recognize spoken digits, in 1952. Continuous speech dictation devices came to market in 1990 and the first interactive voice recognition systems were launched in 1996, but speech recognition technology stalled. Due to significant limitations, speech recognition topped out at 80% accuracy in 2001.
Then around 2009, smartphones and cloud computing changed the market. The ubiquity of smartphones paved the way for the logical use of the speech user interface (UI), particularly for voice search. As compute power became increasingly cheaper, data scientists began to successfully combine voice and speech recognition with machine learning (ML) and/or deep learning (DL)-fueled natural language processing (NLP). Fast forward to 2018, and voice and speech recognition technology has become the tip of the technology spear for a broadening range of sophisticated voice services. Increasingly, companies are building viable market use cases in which the human voice will control highly sophisticated, automated processes and operations. Tractica has identified eight key voice and speech recognition use cases that will drive significant revenue through 2025: Healthcare (Clinical Documentation), Automotive Virtual Digital Assistants (VDAs), Security & Authentication, Voice Search, Voice Commerce & Customer Service, Smart Home Controls, Analysis, and Consumer Robot Controls.
This Tractica report analyzes the global market opportunity for speech recognition and voice recognition software during the period from 2016 through 2025. The report further examines use cases where spoken word is the input or output or both. The study identifies key market drivers and barriers, defines key use cases, assesses technology issues, and profiles key industry players. Market forecasts are provided for software revenue, segmented by use case and world region.