Speech And Voice Recognition Market Scope And Analysis

  • Report Code : TIPTE100000625
  • Category : Technology, Media and Telecommunications
  • No. of Pages : 150
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Speech and Voice Recognition Market - Scope by 2031

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Speech and Voice Recognition Market Report Scope

Report Attribute Details
Market size in 2024 US$ 11.5 billion
Market Size by 2031 US$ 54.69 billion
Global CAGR (2025 - 2031) 24.9%
Historical Data 2021-2023
Forecast period 2025-2031
Segments Covered By Technology
  • Speech Recognition and Voice Recognition
By Vertical
  • Automotive
  • Enterprise
  • Consumer
  • BFSI
  • Government
  • Retail
  • Healthcare
  • Military
  • Legal
  • Education
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Apple
  • Microsoft
  • IBM
  • Alphabet Inc
  • Baidu Inc
  • SESTEK
  • LumenVox
  • Sensory Inc
  • Amazon Web Services Inc
  • iFLYTEK Co Ltd
  • Speech and Voice Recognition Market News and Recent Developments

    Companies adopt inorganic and organic strategies such as mergers and acquisitions in the speech and voice recognition market. Some of the recent key market developments are listed below:

    • In December 2022, Speech recognition technology company Voiceitt announced it scored US$ 4.7 million in funding. The startup will extend the round to meet a new goal of US$ 10 million. Voiceitt offers an AI-based speech recognition app for individuals with speech impairments to communicate, translating unintelligible and atypical speech in real-time. The company will use these funds to scale its platform, accelerate commercialization, and expand its proprietary speech database. [Source: Voiceitt, Company Website]

    Speech and Voice Recognition Market Report Coverage & Deliverables

    The speech and voice recognition market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Speech and Voice Recognition Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

    • Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
    • Market dynamics such as drivers, restraints, and key opportunities.
    • Key future trends.
    • Detailed PEST & SWOT analysis
    • Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
    • Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
    • Detailed company profiles.