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Speech & Voice Recognition Market by Technology, Application, Vertical and Geography - Global Forecast to 2022LONDON, Sept. 22, 2016 /PRNewswire/ -- The speech recognition market is expected to grow from USD 3.73 billion in 2015 to reach USD 9.97 billion by 2022, at a CAGR of 15.78% during the forecast period. The voice recognition market is expected to grow from USD 440.3 million in 2015 to reach USD 1.99 Billion by 2022, at a CAGR of 23.66% between 2016 and 2022. The factors driving the speech recognition market are the increasing acceptance of speech recognition solutions in the healthcare and banking, financial services, and insurance sectors for time and attendance monitoring. On the other hand, the growth of the voice recognition market is driven by factors such as the increasing acceptance of biometric technologies such as voice verification for remote authentication applications. In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profile of primary participants is given below: - By Company Type: Tier 1 – 30 %, Tier 2 – 50%, and Tier 3 – 20% - By Designation: C level – 40%, Director Level – 25%, and Others – 35% - By Region: North America – 39%, Europe – 31%, APAC – 17%, and RoW – 13% Major players in the speech & voice recognition market are Nuance Communications (U.S.), Microsoft Inc. (U.S), Agnitio SL (Spain), Biotrust (Netherland), VoiceVault (U.S.), VoiceBox Technologies Corp. (U.S.), LumenVox LLC. (U.S.), M2Sys LLC (U.S.), Raytheon BBN Technologies (U.S.), M2SyS LLC (U.S.) ValidSoft UK Limited (U.K.), Advanced Voice Recognition Systems (U.S.), Sensory Inc. (U.S.), and MMODAL Inc. (U.S.). Reasons to Buy the Report: The report would help the market leaders/new entrants in this market in the following ways: 1. This report segments the speech & voice recognition market comprehensively and provides the closest approximations of the market sizes for the overall market and sub-segments across the different verticals and regions. 2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities. Download the full report: https://www.reportbuyer.com/product/3893218/ About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers http://www.reportbuyer.com For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +44 208 816 85 48 Website: www.reportbuyer.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/speech--voice-recognition-market-by-technology-application-vertical-and-geography---global-forecast-to-2022-300333014.html SOURCE ReportBuyer |