Report Highlights
The global market for voice recognition technologies was valued at $90.3 billion in 2015. This market is expected to increase from $104.4 billion in 2016 to $184.9 billion in 2021 at a compound annual growth rate (CAGR) of 12.1% for 2016-2021.
Report Includes:
- An overview of the software and hardware for voice recognition technologies and their markets.
- Analyses of global market trends, with data from 2015, 2016 and projections of compound annual growth rates (CAGRs) through 2021.
- 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.
- Profiles of major players in the industry.
Report Scope
The scope of this report covers the overall voice recognition technologies market with market sizing and trends analysis for the most recently completed actuals for 2015 as well as forecasts, trends and compound annual growth rates (CAGRs) for 2016 through 2021.
The market is segmented into end user, technology and regional segments. End user segments include consumer entertainment, telematics and home applications, as well as enterprise applications within the military, legal, contact center and warehouse sectors. The healthcare user segment is also examined including interactive voice response, assistive technology and transcription applications.
Technologies covered include overall hardware, software and devices as well as automatic speech recognition, text-to-speech, speaker verification, speech analytics, call center, interactive voice response, voice-enabled mobile search, games and set top boxes, digital signal processors, gateways, microelectromechanical systems and Bluetooth technology. The market is also segmented by region, specifically, North America, Latin America, Europe and Asia-Pacific.
Device applications, a key driver of current demand for voice recognition, are also explored with subsegments ranging from voice integrated navigation systems to wearable devices.
Analyst Credentials
Michael Sullivan has more than 20 years of experience tracking and analyzing technology and buyer behavior in energy and information technology (IT). He is an expert in the changes to business, energy and technology strategy that occur at the inflection points. Michael has written and researched the current inflection points of green buildings, energy management systems and cloud for companies such as Microsoft and Hewlett-Packard, as well as energy and building system transformation for companies such as Schneider-Electric. An author and journalist, he also writes market research reports in the categories of Environment, Healthcare, Information Technology, Instrumentation and Sensors and Security. He has an MBA from Boston University School of Management.
Report Highlights
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%.
Report Includes
- 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.
Report Highlights
-
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.
Report Highlights
-
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.
Related Reports
Customer Relationship Management (CRM) Software: Global Markets
The global CRM software market reached $56.2 billion in 2022 and should reach $103.5 billion by 2027, with a compound annual growth rate (CAGR) of 13% during the forecast period of 2022-2027.
Passenger Car Telematics: Global Market for Services and Solutions
The global passenger car telematics market should reach $99.3 billion by 2027 from $53.9 billion in 2022 at a compound annual growth rate (CAGR) of 13.0% for the forecast period of 2022 to 2027.
Global Commercial Vehicle Telematics Market: OEM and Aftermarket
The global commercial vehicle telematics market should reach $81.5 billion by 2027 from $36.9 billion in 2022 at a compound annual growth rate (CAGR) of 17.2% for the forecast period of 2022 to 2027.
Global Automotive Telematics Market: Embedded,Tethered and Integrated Connectivity
The global market for automotive telematics is estimated to grow from $99.6 billion in 2022 to $204.2 billion in 2027, with a compound annual growth rate (CAGR) of 15.4% for the period of 2022-2027.
Recent Reports
Industrial IoT (IIoT): Global Markets
The global market for IIoT is estimated to increase from $147.2 billion in 2023 to reach $391.8 billion by 2028, at a compound annual growth rate (CAGR) of 21.6% from 2023 through 2028.
Smart Home Technologies: Global Markets
The global market for smart home technologies is expected to increase from $102.3 billion in 2023 to $166.7 billion by the end of 2028, with a compound annual growth rate (CAGR) of 10.3% during the forecast period of 2023-2028.
Global AI Camera Market
This report provides an understanding of the artificial intelligence (AI) camera market and the driving factors behind its adoption. It identifies the potential areas of growth and obstacles related to AI cameras, as well as to highlights the areas that require improvement within the AI camera industry. In this report, the global market of AI cameras has been segmented based on offerings, product type, technology, end users, and geographical region.
Medical Kiosks: Global Market and Forecasts
This report provides an outlook of the global medical kiosks market. It highlights the current and future market potential for global medical kiosks and provides a detailed analysis of the competitive environment, regulatory scenario, drivers, restraints, opportunities and trends in the market, emerging technologies, future analysis and impact of wars on the market. The report covers market projections through 2028 and an analysis of company product portfolios of the key market players.
Global Spatial Computing Market
This report provides an overview of the global spatial computing market size analysis and a detailed analysis of the market player’s products and strategies. Using 2022 as the base year, the report provides estimated market data for 2023 through 2028. Revenue forecasts for this period are segmented based on component, technology, industry, and geography.
Top Trending Reports
Cell and Gene Therapy Tools, and Reagents: Global Markets
The global market for cell and gene therapy tools and reagents is estimated to grow from $8.3 billion in 2022 to $13.7 billion in 2027, with a compound annual growth rate (CAGR) of 10.6% for the period of 2022-2027.
ESG Trends in Chemical Industry
This report focuses on the ESG trends in the chemical industry and evaluates the ESG implementation including current and future potential. The report utilizes various databases, including sustainability reports, annual reports, and other indicators used to develop the current market. The study provides detailed information on the main factors influencing ESG growth in the chemical industry. It enables the reader to understand the industry in general while also providing insight into the inter-relationship between ESG and the sustainable chemical industry. The report describes market growth, developing trends, industry leaders, and applications of ESG implementation in the chemical industry.
Digital Pathology: Technologies and Global Markets
The global digital pathology market is estimated to increase from $5.9 billion in 2022 to reach $10.7 billion by 2027, at a compound annual growth rate (CAGR) of 12.5% from 2022 through 2027.
Smartphone-Based Patient Monitoring: Global Market
The global smartphone-based patient monitoring market should reach $21.5 billion by 2027 from $6.8 billion in 2022 at a compound annual growth rate (CAGR) of 25.9% for the forecast period of 2022 to 2027.
Seawater and Brackish Water Desalination
The global market for seawater and brackish water desalination is estimated to increase from $14.7 billion in 2022 to $21.7 billion by 2027, at a compound annual growth rate (CAGR) of 8.1% from 2022 through 2027.
Become A Member
BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.
Find Out MoreCustom Consulting
BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.
Customize NowScorecard
The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.
Find Out MoreInnovation Spotlight
Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.
Find Out More