Asia-Pacific Speech and Voice Recognition Market is Expected to Grow at 24.7% in the Forecast Period of 2020 to 2027

The speech and voice recognition industry will relinquish an approximated estimate at a frequency of 24.7% for the projection space of 2020 to 2027 with factor such as the increase in adoption of speech and voice recognition technology by customers.

The speech and voice recognition market has shown an exceptional penetration in China. Growing inclination towards biometrics systems has boosted the speech and voice recognition market. In countries such as Japan, South Korea and India, the rising awareness is creating opportunity for the speech and voice recognition market.

Speech and Voice Recognition Market Scenario

According to Data Bridge Market Research, the market for speech and voice recognition in China has the highest market share followed by Japan and South Korea. Market leader is Nuance Communications, Inc. which accounts an estimated market share of approximately 26.87% in Asia-Pacific. The company has gained outstanding sales through providing advanced therapies for speech and voice recognition.

  • In May 2020, Nuance Communications, Inc. joined hands with National Australia Bank (NAB). The partnership will allow NAB to use the Nuance Gatekeeper, a biometric authentication solution by Nuance Communications, Inc. which will help in authenticating customers and detecting frauds. The new partnership has increased the customer base of the company.

Asia-Pacific Speech and Voice Recognition Market Trends Impacting the Speech and Voice Recognition Market

Now the question is which other regions Nuance Communications, Inc., Microsoft and Amazon Web Services, Inc. (a subsidiary of Amazon.com, Inc.) are targeting? Data Bridge Market Research has forecasted a large growth in China speech and voice recognition market and the market leaders targeting the Japan and South Korea to be their next revenue pocket for 2020.

The speech and voice technology market is becoming more competitive every year with companies such as Nuance Communications, Inc., Microsoft and Amazon Web Services, Inc. (a subsidiary of Amazon.com, Inc.) as they are the market leaders for speech and voice recognition technology. The Data Bridge Market Research new reports highlight the major growth factors and opportunities in the speech and voice recognition market.

For more analysis on the speech and voice recognition market request for a briefing with our analysts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=asia-pacific-speech-voice-recognition-market

Speech and Voice Recognition Market Development

  • In June 2019, GoVivace Inc. had announced its full support of MRCPv2 for its speech and voice recognition technology which will enable easy integration in its entire telephony platform. MRCP allows telephony applications to communicate through speech. This will increase its speech technology services such as language, accent, gender and speaker identification.

Scope of the Speech and Voice Recognition Market

Asia-Pacific speech and voice recognition market is segmented on the basis of countries into the China, Japan, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific.

  • All country based analysis of the speech and voice recognition market is further analysed based on maximum granularity into further segmentation. On the basis of technology, the speech and voice recognition market is segmented into artificial intelligence (AI) based and non-artificial intelligence based. On the basis of product type, the speech and voice recognition market is segmented into speech recognition software and voice recognition software. On the basis of component, the speech and voice recognition market is segmented into solution and services. On the basis of deployment, the speech and voice recognition market is segmented into cloud based and on premise. On the basis of vertical, the speech and voice recognition market is segmented into entertainment & mobile apps, banking, financial services, & insurance (BFSI), healthcare, automotive, analytics, military & security, education & academics and others.

To know more about the study https://www.databridgemarketresearch.com/reports/asia-pacific-speech-voice-recognition-market

Key Pointers Covered in Speech and Voice Recognition Market Industry Trends and Forecast to 2027

  • Market Size
  • Market Standards and Changes
  • Recent Developments for Market Competitors
  • Sales Data for Market Competitors
  • Market Key Vendors and Disruptors Study

Key Market Competitors Covered in the Report

  • Nuance Communications, Inc.
  • Microsoft
  • IBM Corporation
  • Amazon Web Services, Inc. (a subsidiary of Amazon.com, Inc.)
  • Google (a subsidiary of Alphabet Inc.)
  • Sensory Inc.
  • iFLYTEK Corporation
  • Uniphore
  • HOYA Corporation
  • GoVivace Inc.
  • FueTrek Co., Ltd.
  • Lionbridge Technologies, Inc.
  • NEC Corporation
  • Renesas Electronics Corporation
  • Advanced Media, Inc.

Above are the key players covered in the report, to know about more and exhaustive list of speech and voice recognition companies’, contact us https://www.databridgemarketresearch.com/toc/?dbmr=asia-pacific-speech-voice-recognition-market

Research Methodology: Asia-Pacific Speech and Voice Recognition Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Software Providers, Solution Providers and Industrial Professionals
  • Supply Side: Service Providers, Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence and Regulatory Affairs Managers among others.

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