Europe Speech and Voice Recognition Market, By Technology (Artificial Intelligence Based Software and Traditional Software), Product Type (Speech Recognition Software and Voice Recognition Software), Deployment (Cloud and On-Premise), Industry (Entertainment and Mobile Apps, Banking, Healthcare, Automobiles, Analytics, Security, Education and Academics), Country (Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe) Industry Trends and Forecast to 2027
Speech and voice recognition market is expected to grow at a CAGR of 24.9% in the forecast period of 2020 to 2027. Data Bridge Market Research report on speech and voice recognition market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Speech and voice recognition technologies allow contactless control of multiple devices and equipment, and provide automatic translation input and produce dictation ready for print.
High growth potential in healthcare applications, increased demand for voice-based biometric systems for multifactor authentication and increased demand for voice authentication in mobile banking applications are factors driving the voice-recognition market. High costs placed on high-end voice recognition systems and lack of accuracy in harsh environments is limiting the demand for voice and speech recognition. It serves as an opportunity to improve speech and voice recognition tools for micro-linguistics and local languages. One of the problems facing the demand for speech and voice recognition is slow network speed.
This speech and voice recognition market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research speech and voice recognition market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Europe Speech and Voice Recognition Market Scope and Market Size
Speech and voice recognition market is segmented on the basis of technology, product type, deployment and industry. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on technology, speech and voice recognition market is segmented into artificial intelligence based software and traditional software.
- Based on product type, speech and voice recognition market is segmented into speech recognition software and voice recognition software.
- Based on deployment, speech and voice recognition market is segmented into cloud and on-premises.
- Based on industry, speech and voice recognition market is segmented into entertainment and mobile apps, banking, healthcare, automobiles, analytics, security, education and academics.
Speech and Voice Recognition Market Country Level Analysis
Speech and voice recognition market is analysed and market size, volume information is provided by country, technology, product type, deployment and industry as referenced above.
The countries covered in the market report are Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Speech and Voice Recognition Market Share Analysis
Speech and voice recognition market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to speech and voice recognition market.
The major players covered in the speech and voice recognition market report are Nuance Communications, Inc. and IFLYTEK CO. LTD., HOYA Corporation, Raytheon, Advanced Voice Recognition Systems, Inc., Pareteum, Sensory, IncVoiceVault Inc., LumenVox, LLC., Acapela Group SA, VocalZoom, BioTrust, Uniphore, Voicebox Technologies Corporation and Cantab Research Limited, Microsoft, Nuance Communications Inc. and iFlytek Co. Ltd. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Europe Speech and Voice Recognition Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.