Global Markets and Technologies for Voice Recognition

Report Highlights

The global market for voice recognition technologies was valued at $90.3 billion in 2015. This market is expected to increase from $104.4 billion in 2016 to $184.9 billion in 2021 at a compound annual growth rate (CAGR) of 12.1% for 2016-2021.

Report Includes:

• An overview of the software and hardware for voice recognition technologies and their markets.
• Analyses of global market trends, with data from 2015, 2016 and projections of compound annual growth rates (CAGRs) through 2021.
• Discussion of top supplier market shares, new technologies, and the unique challenges faced by each category in the future.
• Examination of the importance of traditional and emerging voice-enabled devices, as these media will promote and extend voice recognition’s reach.
• Reviews of enabling technologies, corporate and national research and development funding, the organizational and economic makeup of the voice recognition industry, and the legislative, political, and environmental issues facing the industry.
• Listings of recent patent grants, as well as related mergers and acquisitions, licensing arrangements, and partnerships.
• Profiles of major players in the industry.

Report Scope

The scope of this report covers the overall voice recognition technologies market with market sizing and trends analysis for the most recently completed actuals for 2015 as well as forecasts, trends and compound annual growth rates (CAGRs) for 2016 through 2021.

The market is segmented into end user, technology and regional segments. End user segments include consumer entertainment, telematics and home applications, as well as enterprise applications within the military, legal, contact center and warehouse sectors. The healthcare user segment is also examined including interactive voice response, assistive technology and transcription applications.

Technologies covered include overall hardware, software and devices as well as automatic speech recognition, text-to-speech, speaker verification, speech analytics, call center, interactive voice response, voice-enabled mobile search, games and set top boxes, digital signal processors, gateways, microelectromechanical systems and Bluetooth technology. The market is also segmented by region, specifically, North America, Latin America, Europe and Asia-Pacific.

Device applications, a key driver of current demand for voice recognition, are also explored with subsegments ranging from voice integrated navigation systems to wearable devices.

Analyst Credentials

Michael Sullivan has more than 20 years of experience tracking and analyzing technology and buyer behavior in energy and information technology (IT). He is an expert in the changes to business, energy and technology strategy that occur at the inflection points. Michael has written and researched the current inflection points of green buildings, energy management systems and cloud for companies such as Microsoft and Hewlett-Packard, as well as energy and building system transformation for companies such as Schneider-Electric. An author and journalist, he also writes market research reports in the categories of Environment, Healthcare, Information Technology, Instrumentation and Sensors and Security. He has an MBA from Boston University School of Management.