[160 Pages Report] The speech and voice recognition market size was valued at USD 6.9 Billion in 2018, and is projected to reach USD 28.3 Billion by 2026 growing at a CAGR of 19.8% during the forecast period. The Speech and Voice Recognition industry report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the The Speech and Voice Recognition Market by region.
- Fortune Business Insights says that the market value stood at US $ 6.9 Billion in 2018
- By 2026, the Speech and Voice Recognition Market size is expected to reach US $ 28.3 Billion
- The market is expected to grow at a CAGR of 19.8% in the forecast period (2019-2026).
- The growth rate of the Global Speech and Voice Recognition Market is 19.8%, with an estimated value of US $ 28.3 Billion million by 2026.
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Pre-Post COVID-19 Impact on Global Speech and Voice Recognition Market
COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.
In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Speech and Voice Recognition Market, since end-user industries were still not operating at their full capacity.
Who are the Major Speech and Voice Recognition Market Vendors?
- Advanced Voice Recognition Systems
- Apple Inc
- Voicebox Technologies Corporation
- Fulcrum Biometrics
- M2SYS Technology
- Sensory Inc.
- Nuance Communications
- Raytheon Company
This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.
Estimation of Market Size
The total size of the Speech and Voice Recognition Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:
Extensive secondary research was used to identify the industry’s key players.
The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.
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- How big is the Speech and Voice Recognition Market?
- What is Speech and Voice Recognition Market?
- Who is the market leader in Speech and Voice Recognition?
- Who are the major players in Speech and Voice Recognition?
- What is the future of Speech and Voice Recognition Industry?
- What are the fastest growing industries?
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