Global Markets and Technologies for Voice Recognition
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.
- 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.
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.
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.
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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.
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.
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