Speech and Voice Recognition Market - Scope by 2031
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
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
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.