Product ID: SQMIG45A2038
Global Voice Recognition Market Size, Share, Growth Analysis, By Deployment model(Cloud, on-premise), By Technology(Artificial intelligence based and non-artificial intelligence based), By Vertical(Automotive, healthcare) - Industry Forecast 2024-2031
Report ID:
SQMIG45A2038 |
Region:
Global |
Published Date: February, 2024
Pages:
274
|
Tables:
90 |
Figures:
71
Global Voice Recognition Market Insights
Voice Recognition Market size was valued at USD 3.5 billion in 2021, USD 4.07 billion in 2022 and it is expected to reach a value of USD 4.74 billion by 2030, at a CAGR of more than 16.4% over the forecast period (2022–2030).
Voice recognition market is an advanced method of biometrics, also known as speech recognition which can recognize an individual’s spoken words and phrases, and then transform the words spoken into a modern form of technology by getting that in a text-based process that supports reading, recognizing, and processed by technology. It also helps in delivering end results in a short time in making charts, notes and reports for patients; as it can speedily articulate notes and saves enough time while doing treatment.
The vendors in the biometric segment are upgrading easy installation, and are cost-effective automatic speech recognition (ASR) applications, which are expected to contribute to the growth of the voice recognition market. Voice recognition is used for biometric safety purposes, and by recognizing the voice of a specific person to allow or deny access. The biometric technology available in mobile banking needs authentic users’ identity proof by the navigation of commands to help them in making transactions.
There are various speech recognition software and tools packages available in the market, some of which are more advanced and fully loaded than others, but generally, they can be used for controlling a user's computer. TalkTyper and Dragon Naturally Speaking are the most popular speech recognition tools and software packages available for use in the market.
Due to less precision in the voice recognition technology, the global voice recognition market may face some difficulties in delivering end-result; and this is also the other concern as it is a quite sound-sensitive system, and therefore any surrounding noise eliminates the accuracy level of the voice recognition system.
US Voice Recognition Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Voice Recognition Market Report Snapshots
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