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Speech Recognition Market Size is Projected to Reach USD 29.28 Billion by 2026 | Valuates ReportsBANGALORE, India, Oct. 27, 2020 /PRNewswire/ -- Speech Recognition Market by Deployment Mode (On Cloud, On Premise), By End Use (Automotive, Consumer Electronics, Healthcare, Enterprise, Others): Global Opportunity Analysis and Industry Forecast, 2019–2026, Published on Valuates Reports in Software Category. The global speech recognition market size was valued at USD 6.39 Billion in 2018, and is projected to reach USD 29.28 Billion by 2026, registering a CAGR of 19.9% from 2019 to 2026. Major factors driving the growth of speech recognition market size include a high potential forgrowth in healthcare applications, the increasing demand for voice authentication in mobile banking applications, the rapid proliferation of multifunctional devices or smart speakers, and AI and effect on voice and voice recognition accuracy. The Speech Recognition Market report offers a comprehensive overview of the industry leaders and provides information on these businesses expertise and capabilities. The study also covers details of the industry competitive environment and provides information on the products provided by different businesses. Get Detailed Analysis of COVID-19 Impact on Speech Recognition Market: https://reports.valuates.com/request/sample/ALLI-Manu-1H24/Speech_Recognition_Market TRENDS INFLUENCING THE SPEECH RECOGNITION MARKET SIZE In smart home automation, the proliferation of voice-enabled IoT devices is expected to drive speech recognition market size growth. In addition, to conventional methods such as touch screens and buttons, IoT-enabled devices will benefit many offline devices with revolutionary means of user interaction. The growing incorporation of voice-activated software in next-generation cars is likely to stimulate speech recognition market size growth. Thanks to advances in technology and the introduction of innovative concepts, such as autonomous and connected vehicles, the automotive industry is expected to gain momentum. Advancements in AI and machine learning will further augment the speech recognition market size during the forecast period. Artificial intelligence transforms speech into well-structured algorithms by going through the fooling phases: representation of speech units, the formulation and creation of recognition algorithms, and the demonstration of correct inputs. In addition to smartphones, the introduction of voice and speech recognition techniques in other consumer electronic devices such as refrigerators, thermostats, mixers, and grinders, and others, is expected to fuel the speech recognition market size. View Full Report: https://reports.valuates.com/market-reports/ALLI-Manu-1H24/speech-recognition b>SPEECH RECOGNITION MARKET SHARE ANALYSIS Based on end-users, the Automotive segment is expected to hold the largest market share during the forecast period. This dominance of the automotive segment is attributed to the growing incorporation of voice-enabled in-car infotainment systems. Advanced automotive technology such as connected devices updates drivers to recommend alternate routes and traffic conditions on the road. Valuates Reports offers Custom Research services providing focused, comprehensive and tailored research https://reports.valuates.com/request/customisation/ALLI-Manu-1H24/Speech_Recognition By Region
Inquire for Regional Data: https://reports.valuates.com/request/regional/ALLI-Manu-1H24/Speech_Recognition_Market SPEECH RECOGNITION MARKET SEGMENTS By Deployment Mode
By End Use
Key Companies
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In 2018, the global Automotive Voice Recognition market size was USD 180 Million and it is expected to reach USD 240 Million by the end of 2025, with a CAGR of 3.9% during 2019-2025. View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-6172/global-automotive-voice-recognition
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