Speech Recognition Market to See Major Growth by 2026

 

Allied Market Research published a new report, titled, " Speech Recognition Market by Deployment Mode (On Cloud and On Premise) and End Use (Consumer Electronics, Healthcare, Enterprise, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The speech recognition market has grown rapidly over the past few years. Digital transformation projects across verticals witnessed huge uptake and are also expected to contribute further in the near future. speech recognition market gains popularity in various industries including IT & telecom, BFSI, and healthcare, owing to its supreme benefits such as high-speed random access of data and low power consumption.

By Region

• North America  (U.S., Canada, Mexico)
• Europe  (UK, Germany, France, Russia, Rest of Europe)
• Asia-Pacific  (China, India, Japan, Australia, Rest of Asia-Pacific)
• LAMEA  (Latin America, Middle East, Africa)

The report offers key drivers that propel the growth in the global speech recognition market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.

The research offers a detailed segmentation of the global speech recognition market. Key segments analyzed in the research include deployment model, end use and geography. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables.

These insights help to devise strategies and create new opportunities to achieve exceptional results. The research offers an extensive analysis of key players active in the global speech recognition industry. Google Inc., Naunce Communication, IBM, Baidu, Amazon, Microsoft, Raytheon BBN Technologies, Sensory, Iflytek, and Speak2web are players have adopted various strategies including expansions, mergers &acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.

Key Benefits:

• The report provides a qualitative and quantitative analysis of the current speech recognition market trends, forecasts, and market size from 2019 to 2026 to determine new opportunities.

• Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.

• Top impacting factors & major investment pockets are highlighted in the research.

• The major countries in each region are analyzed and their revenue contribution is mentioned.

• The market player positioning segment provides an understanding of the current position of the market players active in the speech recognition industry.

The notable factors positively affecting the speech recognition market include increase in demand for speech recognition in automotive, rise in demand for voice biometric systems for user authentication, and high growth potential in healthcare application.

 Key offerings of the report:

• Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.

• Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.

• Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.

• Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.

• Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.

 About Us

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.