Global Markets and Technologies for Voice Recognition
The global voice recognition market was valued at nearly $47 billion in 2011 and should reach $53 billion in 2012. Total market value should total $113 billion in 2017 after increasing at a five-year compound annual growth rate of 16.2%.
- An overview of the software and hardware for voice recognition technologies and their markets
- Analyses of global market trends, with data from 2011, estimates for 2012, and projections of compound annual growth rates (CAGRs) through 2017
- Discussion of top supplier market shares, new technologies, and the unique challenges faced by each category in the future
- Examination of the importance of traditional and emerging voice-enabled devices, as these media will promote and extend voice recognition’s reach
- Reviews of enabling technologies, corporate and national research and development funding, the organizational and economic makeup of the voice recognition industry, and the legislative, political, and environmental issues facing the industry
- Listings of recent patent grants, as well as related mergers and acquisitions, licensing arrangements, and partnerships
- Comprehensive company profiles of major players in the industry.
This report analyzes voice recognition technologies and their markets. It recognizes the fact that integrated software and hardware technologies together, coupled with enhanced devices, are the building blocks for successful deployments. Additionally, tracking the growth of traditional and emerging voice-enabled applications is important for extending voice recognition’s reach.
An overview of the voice recognition industry precedes later chapters that review the main voice recognition markets and that discuss top supplier market share, current technologies, and the unique challenges faced by each market in the future. Five-year forecasts follow, segmented by voice recognition categories and end markets.
Succeeding chapters discuss emerging technologies, corporate and national research and development funding, the organizational and economic makeup of the voice recognition industry, and the legislative, political and environmental issues facing the industry. The changing dynamics of international market share also are addressed.
The appendices contain information about upcoming voice recognition industry-related conferences and recent patent grants, as well as a list of related mergers and acquisitions, licensing arrangements, and partnerships.
Patricia Kutza, the author of this report, is a veteran business and technology journalist. She has written extensively about technology business and cultural trends for a variety of print and new-media outlets. This report, IFT039C Global Markets and Technologies for Voice Recognition, is an update of a report she wrote in 2010.
Frequently Asked Questions (FAQs)
The voice recognition technologies market will grow at a compound annual growth rate (CAGR) of 8.8% between 2010 and 2015. The total market is valued at an estimated $38.4 billion in 2010 and is expected to reach $58.4 in 2015.
Voice recognition software technologies need hardware to transmit the signals as well as abate ambient noise. This sector of the market is worth an estimated $16.5 billion in 2010 and will grow at a 9.8% compound annual growth rate (CAGR) to reach $26.3 billion in 2015.
Automatic speech recognition and text-to-speech software work together to voice-enable many applications. Software sales will increase at a compound annual growth rate (CAGR) of 6.8%, from a value of $13.6 billion in 2010 to a value of $18.9 billion in 2015.
Globally, there will be in excess of 300 million users of voice-enabled applications by 2007 while the voice recognition technologies market rises at an average annual growth rate (AAGR) of 15% between 2002 and 2007.
Enhanced devices that interface the technologies that sense, process, translate and interpret audio input with applications serving the end-markets will grow at an AAGR of 17%.
Automatic speech recognition and text-to-speech software work in tandem to voice-enable many applications. Software sales will increase at an AAGR of 15%.
The enterprise market, responsible in 2002 for more than 75% of voice-recognition applications, will continue to dominate end use by 2007.
During the next five years, the voice portal sector will gain momentum, nearly doubling its 2002 market share.