Speech and Voice Recognition Market

Speech and Voice Recognition Market with COVID-19 Impact Analysis by Delivery Method, Deployment Mode (On Cloud, On-Premises/Embedded), Technology (Speech Recognition, Voice Recognition), Vertical and Geography - Global Forecast to 2026

Report Code: SE 4365 Aug, 2021, by marketsandmarkets.com

[229 Pages Report] The speech and voice recognition market is expected to grow from USD 8.3 billion in 2021 to USD 22.0 billion by 2026; it is expected to grow at a CAGR of 21.6 % during the forecast period. The market has been witnessing significant growth over the past years, mainly owing to the advancement in technologies like artificial intelligence and the internet of things in market and is expected to grow in the coming years.

Speech and Voice Recognition Market

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Impact of COVID-19 on Speech and Voice Recognition Market:

The COVID-19 outbreak resulted in a decline in the growth rate of the speech and voice recognition market, especially in 2020 and 2021. The COVID-19 pandemic affected the market both positively and negatively. The demand for smart appliances and devices has increased with most of the population working from home. This has also created an opportunity for the market as this technology is being used in various smart devices. However, many people are also focusing on basic amenities during the pandemic, putting off other purchases for the time being. The COVID-19 pandemic has also resulted in halted production, thus affecting the manufacturing capabilities of all regions; the supply of products from manufacturers to end users has declined drastically as a result.

Market Dynamics:

Driver: Increasing penetration of speech and voice recognition technology in smart appliances

The demand for smart homes and smart appliances is increasing owing to various factors including growing internet penetration, advancements in technology, and increasing awareness about automation. The COVID-19 pandemic has also resulted in the increasing use of smart devices and appliances in almost every aspect of daily life. People have been forced to work from home an increasing demand for speech and voice recognition technology-based products. Manufacturers of smart appliances are adding the voice recognition feature to their products to enable users to control all their appliances from a single speech and voice recognition technology-based product. The demand for products like Alexa, Cortana, and Siri, which have been in the market for several years, has increased significantly. All these factors propel the speech and voice recognition market growth.

Restraint: Huge investment in technology development keep the small players out

Advanced technologies like neural networks and deep learning are paving the way for speech and voice recognition technology. Neural networks facilitate accurate speech and voice recognition for higher capacity. They also compute the huge voice data generated by users to understand the context. However, the development of these technologies is highly expensive and requires a huge investment in terms of R&D capital as well as time. Neural network algorithms are expensive and complex and can only be managed by key players such as Apple (US), Microsoft (US), and Google (US). These major companies are using this technology to market their own products and access cloud services provided by speech and voice recognition networks based on neural networks. Small players in the speech and voice recognition market may not be able to invest heavily in the development of neural networks due to the high infrastructure cost involved. This restricts market growth as small players are unable to contribute sufficiently.

Opportunity: Creation of more personalized experience for users

Speech and voice recognition technology offers a more individualized experience by differentiating between voices. Companies have an opportunity to make the technology more human centric and less machine driven so that humans can interact with machines naturally without using any specific types of keywords and linguistic law. For instance, Google and Amazon are developing deeper conversational skills and technology to recognize the emotions in people’s voices. Both these companies have filed patents for the same. This will allow users to create distinct individual voice profiles so the technology can detect who is speaking and provide a more individualized experience. This will bring new opportunities for the speech and voice recognition technology market.

Challenge: Lack of standardized platform for development of customized products

Speech and voice recognition companies need a standard application programming interface to help them solve issues related to cost, timely deployment, interoperability, and other aspects related to building speech and voice recognition software. While many financial services, telecommunications, and law enforcement agencies in different countries use speech and voice recognition technology without any standard platform, a standard platform will help them upgrade their system, which in turn will boost its accuracy and enhance the user experience.

Voice Recognition technology in speech and voice recognition market to grow at the highest CAGR during the forecast period

The growing use of voice recognition in multifactor authentication systems in the BFSI, government, and defense verticals is expected to drive the growth of market during the forecast period. In North America and Western Europe, many banking customers use phone banking facilities. Several financial institutions are adopting voice-based authentication solutions to accept or reject mobile transactions by a user. The market for voice recognition technology is expected to witness higher growth in the government, BFSI, and enterprise verticals during the next two to three years. Data security concerns due to cyberattacks, data breaches by intruders, and issues related to illegal migrants are some of the major factors contributing to the high growth of the voice recognition market.

On-cloud deployment mode to dominate speech and voice recognition market during the forecast period.

The on-cloud segment is expected to account for the larger share of the market due to the ability of the cloud infrastructure to provide self-service applications at a minimal cost. Cloud-based solutions help organizations reduce CAPEX and OPEX, allowing them to achieve a considerably high level of efficiency at minimal cost. The hosted cloud deployment mode offers ease of data accessibility from anywhere at any time. The hosted cloud also offers ease of integration with the existing server, which operates on its own physical hardware in minimal time.

Consumer vertical to have highest CAGR during the forecast period.

The market for the consumer vertical is expected to grow at the highest rate during the forecast period. The introduction of voice based smart devices in the consumer sector has led to the launch of many innovative products in the market. The continuous decline in the cost of voice and speech devices, software developments, and relevant content developments are also driving the market for speech and voice recognition. The increasing demand for intelligent virtual assistant smart speakers with voice capabilities is expected to be a prominent driver for the speech and voice recognition market for the consumer vertical during the forecast period.

APAC to grow with highest CAGR during the forecast period.

The market in APAC is expected to grow during the forecast period. The growing focus on artificial intelligence (AI) in industries and enterprises is also expected to contribute toward the growth of the market in Asia Pacific during the forecast period. Increasing digitalization and government policies favoring digitalization and technological innovations are also expected to drive the growth of market in APAC region.

Speech and Voice Recognition Market by Region

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Key Market Players

Apple (US), Microsoft (US), IBM (US), Alphabet (US), Amazon (US), Sensory (US), CANTAB Research (UK), Baidu (China), iFLYTEK (China) and SESTEK (Turkey) are among the key players operating in the speech and voice recognition market.

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Scope of the Report

Report Metric

Details

Market size available for years

2017–2026

Base year considered

2020

Forecast period

2021–2026

Forecast units

Value (USD)

Segments covered

Delivery Method, Technology, Deployment Mode, Vertical, and Region

Regions covered

Americas, APAC, Europe, and RoW

Companies covered

Apple (US), Microsoft (US), Amazon (US), Alphabet (US), IBM(US), CANTAB Research (UK), Sensory (US), Baidu (China), iFLYTEK (China) and SESTEK (Turkey) are among the key players operating in the speech and voice recognition market.

This research report categorizes the speech and voice recognition market based on delivery method, technology, deployment mode, vertical and region.

Speech and Voice Recognition Market, by Delivery Method

  • Artificial Intelligence AI-Based
  • Non-Artificial Intelligence Based

Speech and Voice Recognition, by Technology

  • Speech Recognition
  • Automatic Speech Recognition
  • Text-To-Speech
  • Voice Recognition
  • Speaker Identification
  • Speaker Verification

Speech and Voice Recognition Market, By Deployment Mode

  • On Cloud
  • On-Premises/Embedded

Speech and Voice Recognition, By Vertical

  • Automotive
  • Enterprise
  • Consumer
  • Banking, Finance Service & Insurance (BFSI)
  • Government
  • Retail
  • Healthcare
  • Military
  • Legal
  • Education
  • Others

Speech and Voice Recognition Market, by Geography

  • America (US, Canada, and Rest of Americas)
  • Europe (UK, Germany, France, and Rest of Europe)
  • APAC (China, Australia, Japan, India, and Rest of APAC)
  • RoW ( Middle East and Africa)

Recent Developments

  1. In September 2020, Microsoft and Nuance Communications introduced Nuance Dragonฎ Ambient eXperience™ (DAX™), an ambient clinical intelligence (ACI) solution, now integrated into Microsoft Teams to broadly scale virtual consults aimed at increasing physician wellness and providing better patient health outcomes.
  2. In September 2020, Cantab Research entered into a partnership with Nuix, creator of innovative software that transforms data into actionable intelligence. Together, Speechmatics and Nuix are bringing highly accurate, secure speech recognition technology to businesses through an end-to-end software solution.
  3. In March 2018, IBM launched Watson Assistant, a smart enterprise voice recognition and assistant system powered by AI, cloud, and IoT.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 32)
    1.1 OBJECTIVES OF THE STUDY
    1.2 DEFINITION
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 SUMMARY OF CHANGES
    1.4 SCOPE OF THE STUDY
           1.4.1 MARKETS COVERED
           1.4.2 GEOGRAPHIC SCOPE
           1.4.3 YEARS CONSIDERED FOR THE STUDY
    1.5 CURRENCY
    1.6 LIMITATIONS
    1.7 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 37)
    2.1 RESEARCH DATA
           FIGURE 1 PROCESS FLOW: SPEECH AND VOICE RECOGNITION MARKET SIZE ESTIMATION
           FIGURE 2 SPEECH AND VOICE RECOGNITION MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY AND PRIMARY RESEARCH
                    FIGURE 3 RESEARCH APPROACH
           2.1.2 SECONDARY DATA
                    2.1.2.1 Secondary sources
                    2.1.2.2 Key secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Primary sources
                    2.1.3.2 Key industry insights
                    2.1.3.3 Primary interviews with experts
                    2.1.3.4 List of key primary respondents
                    2.1.3.5 Breakdown of primaries
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for arriving at market size by bottom-up analysis
                                FIGURE 4 SPEECH AND VOICE RECOGNITION MARKET: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for capturing market size by top-down analysis
                                FIGURE 5 SPEECH AND VOICE RECOGNITION MARKET: TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 6 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
    2.5 LIMITATIONS
    2.6 RISK ASSESSMENT
           TABLE 1 RISK ASSESSMENT

3 EXECUTIVE SUMMARY (Page No. - 48)
    3.1 SPEECH AND VOICE RECOGNITION MARKET: POST COVID-19
           3.1.1 REALISTIC SCENARIO
                    FIGURE 7 REALISTIC SCENARIO: SPEECH AND VOICE RECOGNITION MARKET, 2017–2026 (USD BILLION)
           3.1.2 PESSIMISTIC SCENARIO
                    FIGURE 8 PESSIMISTIC SCENARIO: SPEECH AND VOICE RECOGNITION MARKET, 2017–2026 (USD BILLION)
           3.1.3 OPTIMISTIC SCENARIO
                    FIGURE 9 OPTIMISTIC SCENARIO: SPEECH AND VOICE RECOGNITION MARKET, 2017–2026 (USD BILLION)
                    FIGURE 10 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET
                    FIGURE 11 SPEECH RECOGNITION TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
                    FIGURE 12 ON CLOUD DEPLOYMENT MODE TO DOMINATE DURING FORECAST PERIOD
                    FIGURE 13 CONSUMER VERTICAL TO DOMINATE SPEECH AND VOICE RECOGNITION MARKET DURING FORECAST PERIOD
                    FIGURE 14 AMERICAS HELD LARGEST MARKET SHARE IN 2020

4 PREMIUM INSIGHTS (Page No. - 54)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN SPEECH AND VOICE RECOGNITION MARKET
          FIGURE 15 INCREASING DEMAND FOR SPEECH AND VOICE RECOGNITION IN APAC TO DRIVE MARKET GROWTH
    4.2 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY
          FIGURE 16 VOICE RECOGNITION TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
    4.3 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT TYPE
          FIGURE 17 ON CLOUD SEGMENT DOMINATED SPEECH AND VOICE RECOGNITION MARKET IN 2020
    4.4 SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS, BY COUNTRY AND TECHNOLOGY
          FIGURE 18 US AND SPEECH RECOGNITION SEGMENTS TO HOLD LARGEST SHARES OF SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS BY 2026
    4.5 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL
          FIGURE 19 CONSUMER VERTICAL TO EXHIBIT HIGHEST CAGR FROM 2021 TO 2026
    4.6 SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY (2021)
          FIGURE 20 US TO HOLD LARGEST SHARE OF SPEECH AND VOICE RECOGNITION MARKET IN 2021

5 MARKET OVERVIEW (Page No. - 58)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 21 DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing penetration of speech and voice recognition technology in smart appliances
                                FIGURE 22 VOICE ASSISTANT SALES BY KEY BRANDS IN YEAR 2020
                    5.2.1.2 Growing use of speech and voice recognition technology for transcription
                    5.2.1.3 High demand for speech-based biometric systems for multifactor authentication
                                FIGURE 23 DATA BREACH COMPLAINTS IN THE US (2018-2020)
                    5.2.1.4 Rising demand for voice authentication in mobile banking applications
                                FIGURE 24 USE OF SPEECH RECOGNITION CAN PREVENT IDENTITY THEFT IN BANKING AND FINANCE
                    5.2.1.5 Use of Artificial Intelligence (AI) to boost accuracy of speech and voice recognition systems
                                FIGURE 25 DRIVERS FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT
           5.2.2 RESTRAINTS
                    5.2.2.1 Concerns regarding data privacy and security
                    5.2.2.2 High cost of high-end voice recognition systems
                    5.2.2.3 Huge investment in technology development keeps out small players
                                FIGURE 26 RESTRAINTS FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Creation of a more personalized experience for users
                    5.2.3.2 Integration of speech and voice recognition technology with mobile applications
                    5.2.3.3 Development of speech and voice recognition software for micro-linguistics and local languages
                    5.2.3.4 Application of speech and voice recognition in service robotics
                    5.2.3.5 Use of speech and voice recognition technology to aid education of disabled students
                    5.2.3.6 Increasing role of speech and voice recognition technology in autonomous cars
                    5.2.3.7 Growing consumer preference for technologically advanced products
                                FIGURE 27 OPPORTUNITIES FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT
           5.2.4 CHALLENGES
                    5.2.4.1 Increased errors due to background noise
                    5.2.4.2 Lack of standardized platform for development of customized products
                    5.2.4.3 Slow network speeds pose a challenge to cloud-based speech recognition services
                                FIGURE 28 CHALLENGES FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT

6 INDUSTRY ANALYSIS (Page No. - 69)
    6.1 VALUE CHAIN ANALYSIS
           FIGURE 29 VALUE CHAIN ANALYSIS: SPEECH AND VOICE RECOGNITION MARKET
    6.2 ECOSYSTEM
           FIGURE 30 SPEECH AND VOICE RECOGNITION MARKET: ECOSYSTEM
           TABLE 2 SPEECH AND VOICE RECOGNITION MARKET: ECOSYSTEM
           6.2.1 REVENUE SHIFT IN SPEECH AND VOICE RECOGNITION MARKET
           FIGURE 31 REVENUE SHIFT IN SPEECH AND VOICE RECOGNITION MARKET
    6.3 PATENT ANALYSIS
           FIGURE 32 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
           FIGURE 33 ANNUAL NUMBER OF PATENTS GRANTED OVER LAST 10 YEARS
           TABLE 3 TOP 20 PATENT OWNERS (US) IN LAST 10 YEARS
    6.4 TRADE ANALYSIS
           FIGURE 34 IMPORT DATA OF SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2016–2020 (USD THOUSAND)
           TABLE 4 IMPORT DATA OF SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2016–2020 (USD THOUSAND)
           FIGURE 35 EXPORT DATA OF SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2016–2020 (USD THOUSAND)
           TABLE 5 EXPORT DATA OF SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2016–2020 (USD THOUSAND)
    6.5 TARIFF ANALYSIS
           TABLE 6 TARRIF RATE FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY NETHERLANDS IN 2020
           TABLE 7 TARRIF RATE FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY CHINA IN 2020
           TABLE 8 TARRIF RATE FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY UK IN 2020
           TABLE 9 TARRIF RATE FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY US IN 2020
           TABLE 10 TARRIF RATE FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY GERMANY IN 2020
    6.6 CASE STUDY ANALYSIS
           6.6.1 SPEECH RECOGNITION TECHNOLOGY HELPS RETAILER BOOST FIRST CALL RESOLUTION RATE AT CONTACT CENTER
           6.6.2 WORKLOAD OF AGENTS AT BANK’S CONTACT CENTER SIGNIFICANTLY REDUCES
           6.6.3 TRANSLATOR APP FACILITATES MULTILINGUAL PARENT-TEACHER COMMUNICATION
           6.6.4 BRADESCO OFFERS CUSTOMERS QUICKER RESPONSE TIME WITH WATSON
           6.6.5 VOICE RECOGNITION PRODUCT HELPS ENHANCE PATIENT EXPERIENCE
    6.7 PORTER’S FIVE FORCES ANALYSIS
           TABLE 11 SPEECH AND VOICE RECOGNITION MARKET: PORTER’S FIVE FORCES ANALYSIS, 2020
           6.7.1 THREAT OF NEW ENTRANTS
           6.7.2 THREAT OF SUBSTITUTES
           6.7.3 BARGAINING POWER OF BUYERS
           6.7.4 BARGAINING POWER OF SUPPLIERS
           6.7.5 DEGREE OF COMPETITION
    6.8 TECHNOLOGY ANALYSIS
           6.8.1 MICROSOFT ALLOWS USERS CONTROL OVER USE OF VOICE CLIPS TO IMPROVE SPEECH RECOGNITION ALGORITHM
           6.8.2 APPLE DEVELOPS AI MODEL FOR AUTOMATIC SPEECH TRANSCRIPTION AND SPEAKER RECOGNITION
           6.8.3 SPEECHMATICS LAUNCHES SPEECH RECOGNITION SERVICE ON MICROSOFT AZURE
           6.8.4 CRESCENDO SPEECH PROCESSING SOFTWARE OFFERS MULTILINGUAL SUPPORT
           6.8.5 FACEBOOK’S AI OPEN SOURCE PROVIDES NEW DATASET FOR SPEECH RECOGNITION
    6.9 KEY REGULATIONS FOR SPEECH AND VOICE RECOGNITION MARKET
           TABLE 12 KEY REGULATIONS: SPEECH AND VOICE RECOGNITION MARKET
    6.10 PRICING ANALYSIS

7 SPEECH AND VOICE RECOGNITION, BY DELIVERY METHOD (Page No. - 89)
    7.1 INTRODUCTION
           FIGURE 36 DELIVERY METHODS IN SPEECH AND VOICE RECOGNITION
    7.2 ARTIFICIAL INTELLIGENCE-BASED
           7.2.1 AI-BASED RECOGNITION SEGMENT EXPECTED TO ACCOUNT FOR LARGER MARKET DURING FORECAST PERIOD
    7.3 NON-ARTIFICIAL INTELLIGENCE-BASED
           7.3.1 NON-AI-BASED SYSTEMS OFFER INDUSTRY-LEADING ACCURACY, SECURITY AND CONSISTENCY

8 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY (Page No. - 92)
    8.1 INTRODUCTION
          FIGURE 37 SPEECH AND VOICE RECOGNITION MARKET SEGMENTATION, BY TECHNOLOGY
          FIGURE 38 VOICE RECOGNITION MARKET TO GROW AT HIGHER RATE DURING FORECAST PERIOD
          TABLE 13 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY, 2017–2020 (USD MILLION)
          TABLE 14 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY, 2021–2026 (USD MILLION)
    8.2 VOICE RECOGNITION
           8.2.1 FACILITATES CONTACTLESS INTERFACE DURING AND POST PANDEMIC
                    TABLE 15 VOICE RECOGNITION MARKET, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 16 VOICE RECOGNITION MARKET, BY REGION, 2021–2026 (USD MILLION)
           8.2.2 SPEAKER IDENTIFICATION
                    8.2.2.1 Growing new age technologies boost need for speaker identification
           8.2.3 SPEAKER VERIFICATION
                    8.2.3.1 Increasingly used by banks for security purposes
    8.3 SPEECH RECOGNITION
           8.3.1 MULTILINGUAL SPEECH RECOGNITION TO INCREASE SCOPE OF APPLICATIONS
                    TABLE 17 SPEECH RECOGNITION MARKET, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 18 SPEECH RECOGNITION MARKET, BY REGION, 2021–2026 (USD MILLION)
           8.3.2 AUTOMATIC SPEECH RECOGNITION
                    8.3.2.1 Significant advancements in technology in recent years
           8.3.3 TEXT-TO-SPEECH
                    8.3.3.1 Popular assistive technology for reading and writing
                               FIGURE 39 AUTOMATIC SPEECH RECOGNITION TO HOLD LARGER SIZE OF SPEECH RECOGNITION MARKET DURING FORECAST PERIOD
                               TABLE 19 SPEECH RECOGNITION MARKET, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 20 SPEECH RECOGNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)

9 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE (Page No. - 100)
    9.1 INTRODUCTION
          FIGURE 40 DEPLOYMENT MODES IN SPEECH & VOICE RECOGNITION
          FIGURE 41 ON CLOUD SPEECH AND VOICE RECOGNITION SEGMENT TO HOLD MAJOR MARKET SHARE BETWEEN 2021 AND 2026
          TABLE 21 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE, 2017–2020 (USD MILLION)
          TABLE 22 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION)
    9.2 ON CLOUD
           9.2.1 EXPECTED TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
                    TABLE 23 SPEECH AND VOICE RECOGNITION MARKET FOR ON CLOUD, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 24 SPEECH AND VOICE RECOGNITION MARKET FOR ON CLOUD, BY REGION, 2021–2026 (USD MILLION)
    9.3 ON-PREMISES/EMBEDDED
           9.3.1 PROJECTED TO WITNESS HIGHER GROWTH DURING FORECAST PERIOD
                    TABLE 25 SPEECH AND VOICE RECOGNITION MARKET FOR ON-PREMISES/EMBEDDED, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 26 SPEECH AND VOICE RECOGNITION MARKET FOR ON-PREMISES/EMBEDDED, BY REGION, 2021–2026 (USD MILLION)

10 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL (Page No. - 106)
     10.1 INTRODUCTION
             FIGURE 42 CONSUMER VERTICAL TO GROW AT HIGHEST RATE DURING FORECAST PERIOD
             TABLE 27 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL, 2017–2020 (USD MILLION)
             TABLE 28 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL, 2021–2026 (USD MILLION)
             FIGURE 43 GOVERNMENT VERTICAL TO HOLD HIGHEST SHARE OF VOICE RECOGNITION MARKET DURING FORECAST PERIOD
             TABLE 29 VOICE RECOGNITION MARKET, BY VERTICAL, 2017–2020 (USD MILLION)
             TABLE 30 VOICE RECOGNITION MARKET, BY VERTICAL, 2021–2026 (USD MILLION)
             FIGURE 44 CONSUMER VERTICAL TO HOLD HIGHEST SHARE OF SPEECH RECOGNITION MARKET DURING FORECAST PERIOD
             TABLE 31 SPEECH RECOGNITION MARKET, BY VERTICAL, 2017–2020 (USD MILLION)
             TABLE 32 SPEECH RECOGNITION MARKET, BY VERTICAL, 2021–2026 (USD MILLION)
     10.2 AUTOMOTIVE
             10.2.1 INCREASING USE OF SPEECH AND VOICE RECOGNITION TECHNOLOGY IN CARS
                       FIGURE 45 VEHICLE INSURANCE MARKET TO RECORD HIGHER GROWTH RATE DURING FORECAST PERIOD
                       TABLE 33 SPEECH AND VOICE RECOGNITION MARKET FOR AUTOMOTIVE, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 34 SPEECH AND VOICE RECOGNITION MARKET FOR AUTOMOTIVE, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 35 SPEECH RECOGNITION MARKET FOR AUTOMAOIVE, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 36 SPEECH RECOGNITION MARKET FOR AUTOMOTIVE, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 37 VOICE RECOGNITION MARKET FOR AUTOMOTIVE, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 38 VOICE RECOGNITION MARKET FOR AUTOMOTIVE, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 39 SPEECH RECOGNITION MARKET FOR AUTOMOTIVE, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 40 SPEECH RECOGNITION MARKET FOR AUTOMOTIVE, BY REGION, 2021–2026 (USD MILLION)
                       TABLE 41 VOICE RECOGNITION MARKET FOR AUTOMOTIVE, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 42 VOICE RECOGNITION MARKET FOR AUTOMOTIVE, BY REGION, 2021–2026 (USD MILLION)
     10.3 ENTERPRISES
             10.3.1 GROWING ADOPTION OF VIRTUAL ASSISTANTS POST PANDEMIC TO BOOST MARKET
             10.3.2 SPEECH AND VOICE RECOGNITION MARKET FOR ENTERPRISES: COVID-19 IMPACT
                       FIGURE 46 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET FOR ENTERPRISES
                       TABLE 43 POST-COVID-19: SPEECH AND VOICE RECOGNITION MARKET FOR ENTERPRISES, 2017–2026 (USD MILLION)
                       TABLE 44 SPEECH AND VOICE RECOGNITION MARKET FOR ENTERPRISES, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 45 SPEECH AND VOICE RECOGNITION MARKET FOR ENTERPRISES, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 46 SPEECH RECOGNITION MARKET FOR ENTERPRISES, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 47 SPEECH RECOGNITION MARKET FOR ENTERPRISES, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 48 VOICE RECOGNITION MARKET FOR ENTERPRISES, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 49 VOICE RECOGNITION MARKET FOR ENTERPRISES, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 50 SPEECH RECOGNITION MARKET FOR ENTERPRISES, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 51 SPEECH RECOGNITION MARKET FOR ENTERPRISES, BY REGION, 2021–2026 (USD MILLION)
                       TABLE 52 VOICE RECOGNITION MARKET FOR ENTERPRISES, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 53 VOICE RECOGNITION MARKET FOR ENTERPRISES, BY REGION, 2021–2026 (USD MILLION)
     10.4 CONSUMER
             10.4.1 GROWTH IN NUMBER OF VOICE CONTROL-BASED SMART ASSISTIVE DEVICES
             10.4.2 SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER: COVID-19 IMPACT
                       FIGURE 47 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER
                       TABLE 54 POST-COVID-19: SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER, 2017–2026 (USD MILLION)
                       FIGURE 48 MOBILE DEVICE CONTROL SEGMENT TO HAVE LARGER MARKET SHARE
                       TABLE 55 SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 56 SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 57 SPEECH RECOGNITION MARKET FOR CONSUMER, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 58 SPEECH RECOGNITION MARKET FOR CONSUMER, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 59 VOICE RECOGNITION MARKET FOR CONSUMER, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 60 VOICE RECOGNITION MARKET FOR CONSUMER, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 61 SPEECH RECOGNITION MARKET FOR CONSUMER, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 62 SPEECH RECOGNITION MARKET FOR CONSUMER, BY REGION, 2021–2026 (USD MILLION)
                       TABLE 63 VOICE RECOGNITION MARKET FOR CONSUMER, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 64 VOICE RECOGNITION MARKET FOR CONSUMER, BY REGION, 2021–2026 (USD MILLION)
     10.5 BANKING, FINANCIAL SERVICES AND INSURANCE (BFSI)
             10.5.1 GROWING DEMAND FOR VOICE AUTHENTICATION IN MOBILE BANKING APPLICATIONS
                       TABLE 65 SPEECH AND VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 66 SPEECH AND VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 67 SPEECH RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 68 SPEECH RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 69 VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 70 VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 71 SPEECH RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 72 SPEECH RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY REGION, 2021–2026 (USD MILLION)
                       TABLE 73 VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 74 VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY REGION, 2021–2026 (USD MILLION)
     10.6 GOVERNMENT
             10.6.1 INCREASING USE OF SPEECH AND VOICE RECOGNITION SYSTEMS FOR MULTIPLE TASKS
                       FIGURE 49 PROOF OF LIFE TO HAVE LARGER MARKET SHARE DURING FORECAST PERIOD
                       TABLE 75 SPEECH AND VOICE RECOGNITION MARKET FOR GOVERNMENT, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 76 SPEECH AND VOICE RECOGNITION MARKET FOR GOVERNMENT, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 77 SPEECH RECOGNITION MARKET FOR GOVERNMENT, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 78 SPEECH RECOGNITION MARKET FOR GOVERNMENT, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 79 VOICE RECOGNITION MARKET FOR GOVERNMENT, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 80 VOICE RECOGNITION MARKET FOR GOVERNMENT, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 81 SPEECH RECOGNITION MARKET FOR GOVERNMENT, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 82 SPEECH RECOGNITION MARKET FOR GOVERNMENT, BY REGION, 2021–2026 (USD MILLION)
                       TABLE 83 VOICE RECOGNITION MARKET FOR GOVERNMENT, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 84 VOICE RECOGNITION MARKET FOR GOVERNMENT, BY REGION, 2021–2026 (USD MILLION)
     10.7 RETAIL
             10.7.1 USE OF SPEECH AND VOICE RECOGNITION TO CREATE MORE PERZONALIZED EXPERIENCE
                       TABLE 85 SPEECH AND VOICE RECOGNITION MARKET FOR RETAIL, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 86 SPEECH AND VOICE RECOGNITION MARKET FOR RETAIL, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 87 SPEECH RECOGNITION MARKET FOR RETAIL, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 88 SPEECH RECOGNITION MARKET FOR RETAIL, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 89 VOICE RECOGNITION MARKET FOR RETAIL, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 90 VOICE RECOGNITION MARKET FOR RETAIL, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 91 SPEECH RECOGNITION MARKET FOR RETAIL, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 92 SPEECH RECOGNITION MARKET FOR RETAIL, BY REGION, 2021–2026 (USD MILLION)
                       TABLE 93 VOICE RECOGNITION MARKET FOR RETAIL, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 94 VOICE RECOGNITION MARKET FOR RETAIL, BY REGION, 2021–2026 (USD MILLION)
     10.8 HEALTHCARE
             10.8.1 INCREASING USE OF SPEECH AND VOICE RECOGNITION TO AVOID ERRORS AND IMPROVE EFFICIENCY
             10.8.2 SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE: COVID-19 IMPACT
                       FIGURE 50 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE
                       TABLE 95 POST-COVID-19: SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE, 2017–2026 (USD MILLION)
                       FIGURE 51 SPECIAL PURPOSE ROBOTS SEGMENT EXPECTED TO RECORD HIGHER CAGR DURING FORECAST PERIOD
                       TABLE 96 SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 97 SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 98 SPEECH RECOGNITION MARKET FOR HEALTHCARE, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 99 SPEECH RECOGNITION MARKET FOR HEALTHCARE, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 100 VOICE RECOGNITION MARKET FOR HEALTHCARE, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 101 VOICE RECOGNITION MARKET FOR HEALTHCARE, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 102 SPEECH RECOGNITION MARKET FOR HEALTHCARE, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 103 SPEECH RECOGNITION MARKET FOR HEALTHCARE, BY REGION, 2021–2026 (USD MILLION)
                       TABLE 104 VOICE RECOGNITION MARKET FOR HEALTHCARE, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 105 VOICE RECOGNITION MARKET FOR HEALTHCARE, BY REGION, 2021–2026 (USD MILLION)
     10.9 MILITARY
             10.9.1 INNOVATION IN SPEECH RECOGNITION TO IMPROVE MILITARY OPERATIONS
                       TABLE 106 SPEECH AND VOICE RECOGNITION MARKET FOR MILITARY, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 107 SPEECH AND VOICE RECOGNITION MARKET FOR MILITARY, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 108 SPEECH RECOGNITION MARKET FOR MILITARY, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 109 SPEECH RECOGNITION MARKET FOR MILITARY, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 110 VOICE RECOGNITION MARKET FOR MILITARY, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 111 VOICE RECOGNITION MARKET FOR MILITARY, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 112 SPEECH RECOGNITION MARKET FOR MILITARY, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 113 SPEECH RECOGNITION MARKET FOR MILITARY, BY REGION, 2021–2026 (USD MILLION)
                       TABLE 114 VOICE RECOGNITION MARKET FOR MILITARY, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 115 VOICE RECOGNITION MARKET FOR MILITARY, BY REGION, 2021–2026 (USD MILLION)
     10.1 LEGAL
             10.10.1 ADOPTION OF SPEECH AND VOICE RECOGNITION TOOLS RESULTS IN INCREASED PRODUCTIVITY
                        TABLE 116 SPEECH AND VOICE RECOGNITION MARKET FOR LEGAL, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 117 SPEECH AND VOICE RECOGNITION MARKET FOR LEGAL, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 118 SPEECH RECOGNITION MARKET FOR LEGAL, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 119 SPEECH RECOGNITION MARKET FOR LEGAL, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 120 VOICE RECOGNITION MARKET FOR LEGAL, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 121 VOICE RECOGNITION MARKET FOR LEGAL, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 122 SPEECH RECOGNITION MARKET FOR LEGAL, BY REGION, 2017–2020 (USD MILLION)
                        TABLE 123 SPEECH RECOGNITION MARKET FOR LEGAL, BY REGION, 2021–2026 (USD MILLION)
                        TABLE 124 VOICE RECOGNITION MARKET FOR LEGAL, BY REGION, 2017–2020 (USD MILLION)
                        TABLE 125 VOICE RECOGNITION MARKET FOR LEGAL, BY REGION, 2021–2026 (USD MILLION)
     10.11 EDUCATION
             10.11.1 USE OF SPEECH AND VOICE RECOGNITION TECHNOLOGY TO EDUCATE DISABLED STUDENTS
                        FIGURE 52 LANGUAGE LEARNING SEGMENT EXPECTED TO RECORD HIGHER CAGR DURING FORECAST PERIOD
                        TABLE 126 SPEECH AND VOICE RECOGNITION MARKET FOR EDUCATION, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 127 SPEECH AND VOICE RECOGNITION MARKET FOR EDUCATION, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 128 SPEECH RECOGNITION MARKET FOR EDUCATION, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 129 SPEECH RECOGNITION MARKET FOR EDUCATION, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 130 VOICE RECOGNITION MARKET FOR EDUCATION, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 131 VOICE RECOGNITION MARKET FOR EDUCATION, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 132 SPEECH RECOGNITION MARKET FOR EDUCATION, BY REGION, 2017–2020 (USD MILLION)
                        TABLE 133 SPEECH RECOGNITION MARKET FOR EDUCATION, BY REGION, 2021–2026 (USD MILLION)
                        TABLE 134 VOICE RECOGNITION MARKET FOR EDUCATION, BY REGION, 2017–2020 (USD MILLION)
                        TABLE 135 VOICE RECOGNITION MARKET FOR EDUCATION, BY REGION, 2021–2026 (USD MILLION)
     10.12 OTHERS
              TABLE 136 SPEECH RECOGNITION MARKET FOR OTHER VERTICALS, BY REGION, 2017–2020 (USD MILLION)
              TABLE 137 SPEECH RECOGNITION MARKET FOR OTHER VERTICALS, BY REGION, 2021–2026 (USD MILLION)
              TABLE 138 VOICE RECOGNITION MARKET FOR OTHER VERTICALS, BY REGION, 2017–2020 (USD MILLION)
              TABLE 139 VOICE RECOGNITION MARKET FOR OTHER VERTICALS, BY REGION, 2021–2026 (USD MILLION)

11 SPEECH AND VOICE RECOGNITION MARKET, BY GEOGRAPHY (Page No. - 157)
     11.1 INTRODUCTION
             FIGURE 53 MARKET SEGMENT BY GEOGRAPHY
             FIGURE 54 MARKET SHARE BY REGION
             FIGURE 55 SPEECH AND VOICE RECOGNITION MARKET IN APAC TO RECORD HIGHEST CAGR FROM 2021 TO 2026
             TABLE 140 SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2017–2020 (USD MILLION)
             TABLE 141 SPEECH AND VOICE RECOGNITION MARKET, BY REGION, 2021–2026 (USD MILLION)
     11.2 AMERICAS
             FIGURE 56 AMERICAS: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT
             11.2.1 SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS: COVID-19 IMPACT
                       FIGURE 57 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS
                       TABLE 142 POST-COVID-19: SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS, 2017–2026 (USD MILLION)
                       TABLE 143 SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 144 SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS, BY COUNTRY, 2021–2026 (USD MILLION)
             11.2.2 US
                        11.2.2.1 Growing number of innovative startups to boost demand for speech and voice recognition
             11.2.3 CANADA
                        11.2.3.1 Deployment of voice biometrics technology in banking industry to enhance security levels
             11.2.4 REST OF AMERICAS
                        11.2.4.1 Increased digitalization to drive market growth
     11.3 EUROPE
             FIGURE 58 EUROPE: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT
             TABLE 145 SPEECH AND VOICE RECOGNITION MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 146 SPEECH AND VOICE RECOGNITION MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
             11.3.1 UK
                        11.3.1.1 Huge funding and collaboration increase market growth
             11.3.2 GERMANY
                        11.3.2.1 Greater dependence on AI and cognitive technologies in enterprises
             11.3.3 FRANCE
                        11.3.3.1 Significant improvement in air traffic control drives growth of speech and voice recognition market
             11.3.4 REST OF EUROPE
     11.4 APAC
             FIGURE 59 APAC: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT
             11.4.1 SPEECH AND VOICE RECOGNITION MARKET IN APAC: COVID-19 IMPACT
                       FIGURE 60 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET IN APAC
                       TABLE 147 POST-COVID-19: SPEECH AND VOICE RECOGNITION MARKET IN APAC, 2017–2026 (USD MILLION)
                       TABLE 148 SPEECH AND VOICE RECOGNITION MARKET IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 149 SPEECH AND VOICE RECOGNITION MARKET IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
             11.4.2 JAPAN
                        11.4.2.1 Use of speech and voice recognition in automotive industry fuels market growth
             11.4.3 CHINA
                        11.4.3.1 Significant investment by government and private organizations boosts market
             11.4.4 INDIA
                        11.4.4.1 Large-scale technological development and increasing mobile and internet penetration to drive market growth
             11.4.5 REST OF APAC
     11.5 ROW
             FIGURE 61 SNAPSHOT: SPEECH AND VOICE RECOGNITION MARKET IN ROW
             TABLE 150 SPEECH AND VOICE RECOGNITION MARKET IN ROW, BY REGION, 2017–2020 (USD MILLION)
             TABLE 151 SPEECH AND VOICE RECOGNITION MARKET IN ROW, BY REGION, 2021–2026 (USD MILLION)
             11.5.1 MIDDLE EAST
                        11.5.1.1 Cautious adoption of speech and voice recognition solutions
             11.5.2 AFRICA
                        11.5.2.1 Banks collaborating with software providers to implement voice recognition

12 COMPETITIVE LANDSCAPE (Page No. - 175)
     12.1 INTRODUCTION
     12.2 REVENUE ANALYSIS OF TOP 5 COMPANIES
             FIGURE 62 REVENUE ANALYSIS (USD BILLION), 2016–2020
     12.3 MARKET SHARE ANALYSIS
             TABLE 152 SPEECH AND VOICE RECOGNITION MARKET: DEGREE OF COMPETITION (2020)
             FIGURE 63 MARKET SHARE ANALYSIS: SPEECH AND VOICE RECOGNITION MARKET 2020
     12.4 COMPANY EVALUATION QUADRANT
             12.4.1 STAR
             12.4.2 EMERGING LEADER
             12.4.3 PERVASIVE
             12.4.4 PARTICIPANT
                       FIGURE 64 SPEECH AND VOICE RECOGNITION MARKET COMPANY EVALUATION QUADRANT, 2020
             12.4.5 COMPANY FOOTPRINT
                       TABLE 153 COMPANY FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET
                       FIGURE 65 COMPANY VERTICAL FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET
                       TABLE 154 COMPANY TECHNOLOGY FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET
                       TABLE 155 COMPANY REGION FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET
     12.5 SME EVALUATION QUADRANT FOR SPEECH AND VOICE RECOGNITION MARKET, 2020
             12.5.1 PROGRESSIVE COMPANIES
             12.5.2 RESPONSIVE COMPANIES
             12.5.3 DYNAMIC COMPANIES
             12.5.4 STARTING BLOCKS
                       FIGURE 66 SPEECH AND VOICE RECOGNITION MARKET STARTUP/SME EVALUATION QUADRANT, 2020
     12.6 COMPETITIVE SITUATION AND TRENDS
             12.6.1 PRODUCT LAUNCHES AND DEVELOPMENTS
                       TABLE 156 PRODUCT LAUNCHES AND DEVLOPMENTS, 2019–2020
             12.6.2 DEALS
                       TABLE 157 DEALS, 2019–2020

13 COMPANY PROFILES (Page No. - 188)
     13.1 KEY PLAYERS
(Business Overview, Products/Solutions Offered, Recent Developments, SWOT Analysis, Winning Imperatives, Current Focus and Strategies, Threat From Competition, Right to Win)*
             13.1.1 APPLE
                       TABLE 158 APPLE: BUSINESS OVERVIEW
                       FIGURE 67 APPLE: COMPANY SNAPSHOT
             13.1.2 MICROSOFT
                       TABLE 159 MICROSOFT: BUSINESS OVERVIEW
                       FIGURE 68 MICROSOFT: COMPANY SNAPSHOT
             13.1.3 IBM
                       TABLE 160 IBM: BUSINESS OVERVIEW
                       FIGURE 69 IBM: COMPANY SNAPSHOT
             13.1.4 ALPHABET
                       TABLE 161 APLHABET: BUSINESS OVERVIEW
                       FIGURE 70 ALPHABET: COMPANY SNAPSHOT
             13.1.5 AMAZON
                       TABLE 162 AMAZON: BUSINESS OVERVIEW
                       FIGURE 71 AMAZON: COMPANY SNAPSHOT
             13.1.6 SENSORY
                       TABLE 163 SENSORY: BUSINESS OVERVIEW
             13.1.7 CANTAB RESEARCH
                       TABLE 164 CANTAB RESEARCH: BUSINESS OVERVIEW
             13.1.8 BAIDU
                       TABLE 165 BAIDU: BUSINESS OVERVIEW
                       FIGURE 72 BAIDU: COMPANY SNAPSHOT
             13.1.9 IFLYTEK
                       TABLE 166 IFLYTEK: BUSINESS OVERVIEW
             13.1.10 SPEECH ENABLED SOFTWARE TECHNOLOGIES (SESTEK)
                        TABLE 167 SESTEK: BUSINESS OVERVIEW
             13.1.11 SPEAK2WEB
                        TABLE 168 SPEAK2WEB: BUSINESS OVERVIEW
*Business Overview, Products/Solutions Offered, Recent Developments, SWOT Analysis, Winning Imperatives, Current Focus and Strategies, Threat From Competition, Right to Win might not be captured in case of unlisted companies.
     13.2 OTHER PLAYERS
             13.2.1 RAYTHEON BBN TECHNOLOGIES
             13.2.2 M2SYS
             13.2.3 M*MODAL
             13.2.4 VOICEVAULT
             13.2.5 VALIDSOFT
             13.2.6 LUMENVOX
             13.2.7 ACAPELA GROUP
             13.2.8 VOCALZOOM
             13.2.9 BIOTRUST ID
             13.2.10 UNIPHORE SOFTWARE
             13.2.11 ISPEECH
             13.2.12 GOVIVACE
             13.2.13 ADVANCED VOICE RECOGNITION SYSTEMS
             13.2.14 DOLBEY

14 APPENDIX (Page No. - 223)
     14.1 INSIGHTS OF INDUSTRY EXPERTS
     14.2 DISCUSSION GUIDE
     14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     14.4 AVAILABLE CUSTOMIZATIONS
     14.5 RELATED REPORTS
     14.6 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the speech and voice recognition market. Exhaustive secondary research was done to collect information on the market and its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation were employed to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. These secondary sources include speech and voice recognition technology journals and magazines, IEEE journals; annual reports, press releases, and investor presentations of companies; white papers; certified publications and articles from recognized authors; and directories and databases such as Factiva, Hoovers, and OneSource.

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for this report. The primary sources from the supply side included industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the speech and voice recognition market. After complete market engineering (including calculations regarding market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information as well as to verify and validate the critical numbers arrived at.

Speech and Voice Recognition Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the speech and voice recognition market and other dependent submarkets listed in this report.

  • Key players in the industry and markets have been identified through extensive secondary research.
  • In terms of value, the industry’s supply chain and market size have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Speech and Voice Recognition Market: Bottom-Up Approach

Speech and Voice Recognition Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the global market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at exact statistics for all segments and subsegments, market breakdown and data triangulation procedures have been employed wherever applicable. The data has been triangulated by studying various factors and trends identified from both demand and supply sides.

Report Objectives

The following are the primary objectives of the study.

  • To define, describe, and forecast the speech and voice recognition market, in terms of delivery method, technology, deployment mode, vertical and region
  • To provide the market size estimation for Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW), along with their respective country-level market sizes, in terms of value
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges that influence market growth.
  • To provide a detailed overview of the speech and voice recognition value chain
  • To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the total market
  • To analyze key trends related to components, connectivity technologies, and applications that shape and influence the global speech and voice recognition market.
  • To profile key players and comprehensively analyze their ranking based on their revenues and core competencies.
  • To analyze opportunities in the market for stakeholders and provide a detailed competitive landscape of the market.
  • To analyze competitive developments in the market, such as expansion, agreements, partnerships, contracts, product developments, and research and development (R&D)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information:

  • Detailed analysis and profiling of additional market players (up to 5)
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