Global Voice and Speech Recognition Technology Market Estimates & Forecasts 2016-2018 & 2024: Focus on Select Global Players, Product Innovations/Introductions & Recent Industry Activity

Dublin, Jan. 17, 2019 (GLOBE NEWSWIRE) -- The "Voice and Speech Recognition Technology - Market Analysis, Trends, and Forecasts" report has been added to ResearchAndMarkets.com's offering.

The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Annual estimates and forecasts are provided for the period 2016 through 2024. Also, a five-year historic analysis is provided for these markets. This report analyzes the worldwide markets for Voice and Speech Recognition Technology in US$ Thousand.

The Global market for is further analyzed by the following Segments:

• Voice Recognition
• Speech Recognition

The report profiles 76 companies including many key and niche players such as:

• [24]7.ai
• Acapela Group
• Advanced Voice Recognition Systems, Inc.
• Apple, Inc.
• Applied Voice & Speech Technologies, Inc.
• BioTrust ID B.V.
• Convergys Corp.
• Genesta Partnership
• Genesys Telecommunications Laboratories, Inc.
• Google, Inc.
• Honeywell International, Inc.
• IBM Corporation
• LumenVox LLC
• M*Modal, Inc.
• Microsoft Corporation
• Nuance Communications, Inc.
• Sensory, Inc.
• Sestek
• Voxware, Inc.
• Wizzard Speech LLC

Key Topics Covered:

1. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
Voice Recognition Technology
Speech Recognition Technology

2. INDUSTRY OVERVIEW
Voice and Speech Recognition Technology: Enabling Man-to-Machine Communication
Value Chain of Voice Business
Expanding Use Cases of Voice-based Services and Technology Advancements Propel Voice and Speech Recognition Market
Speech Recognition Dominates Voice and Speech Recognition Technology Market
Voice Recognition - The Faster Growing Technology Segment
Voice Recognition Technology: A Review of Factors Influencing Growth
Voice-based Searches
Voice-based Authentication to Thwart Security Breaches
Rising Popularity of Voice-based Conversational Interfaces
China Holds Promise in the Voice Recognition Market
Increasing Penetration of Smartphones Fuels Use of Voice Recognition Technology
Healthcare, Consumer & Retail Sectors: Active Adopters of Voice Recognition Technology
Expanding Applications of Voice Recognition Technology Drives Brands to Adopt New Strategies
Automated Speech Recognition (ASR): The Widely Used Speech Recognition Technology
Text-to-Speech Emerges as a Realistic, Natural Conversation Tool
Text-to-speech (TTS) for Education Market - Significant Potential for Growth
TTS Aids in Improving Customer Engagement
Developed Markets Dominate, Developing Regions to Spearhead Future Growth
Major Challenges Confronting Speech & Voice Recognition Market

3. MARKET TRENDS, ISSUES & DRIVERS
Rapid Penetration of Mobile Devices: A Major Growth Driver
Opportunity Indicators
Mobile Voice Portals Drive Adoption of Speech Recognition in Mobile Phones
Voice & Speech Recognition Become Part of Primary Interface for Smartphone Users
Sustained Sales of Tablets Benefit Speech and Voice Recognition Market
Wearable Devices: The Next Frontier for Speech Recognition Technology
Intelligent Virtual Assistants - A Proactive Speech Technology-based Feature
Employing Virtual Assistants at Workplaces
Notable Trends in the Voice Assistants Market
Contextual Understanding to Fuel More Personalized Responses
Device Fragmentation Poses Challenge
Increasing Demand for Convenient, Low-Effort Experiences by Users
To Remain Competitive, Brands Need to Continuously Innovate
Increasing Focus on Engagement and Retention of Users
Multimodal Solutions: The New Focus Area
Integration of Graphic User Interface (GUI) and Voice User Interface (VUI)
Innovations in Voice-Interface Devices
Technology Developers Focus on Phoneme Accuracy Feature
Speech Recognition-enabled Self-Service Technology
Improvements in Voice Recognition Technologies: Vital for Resolving Accuracy and Security Issues
Businesses Benefit from Numerous Advantages of Using Speech Recognition Technology
Transformative Role of AI in Speech Recognition for Enterprise Market
Promising Prospects for Speech Recognition Technology in Call Centers
Rising Significance of Speech Technology for Outsourced Customer Care Services Market
Call Centers to Leverage Proficiency of Speech Analytics
Expanding Use of IVR Systems in Call Centers Lends Traction to Market Growth
Growing Demand for Hosted IVR Services Fuels Demand for Speech Technology Solutions
Voice/Speech Based Technologies Empower Call Center Training & Operations
Voice-Driven CRM Expands Scope for Customer Interactions
Growing Digital Engagement Drags Down Voice-Based Customer Interactions
Rising Importance of Speech Technology in the IoT Era
Cloud Computing Technology Revolutionizes Speech Technology Market
Healthcare Facilities Seek the Aid of Cloud for Voice Documentation
User Experience and Usability Take Center Stage
Cloud Solutions Boost Adoption of Voice Recognition Technologies
Cloud Services to Drive Mobility for Voice Authentication
Globalization & Workforce Decentralization Spur Demand in the Enterprise Sector
Speech Analytics Market Gathers Steam amidst the Growing Need to Gain Useful Insights from Customer Data
Rising Popularity of Biometrics Offer Ample Growth Opportunities
Voice Biometrics Emerges as a Game Changer for Authenticating Mobile Devices
Growth in Mobile Biometrics - An Opportunity for Voice and Speech Recognition Market
Increasing Security Threats Drive the Voice Verification Biometrics Market
Favorable Trends in the IT Industry Strengthens Market Prospects
Spurt in Internet Usage
Move towards Convergence
Proliferation of Embedded Devices
Continued Expansion of Software Sector
Rise in Social Networking
VoIP Model Drives Demand
Speech-based Searching Gains Momentum
Voice - The Future Computing Technology
Speech Technology Solutions Improves Convenience and Safety of Automobiles
Telematics & Car Infotainment Offers Opportunities on a Platter
Cloud-based Voice Recognition to Foster Use of Automotive Telematics
Growing Adoption of Speech Recognition Technology in In-Vehicle Systems
Suppression of In-Car Noise: Essential for Effectiveness of Voice Recognition Technology
Blurring Demographic Barriers Encourage Voice-Enabled Car Systems
Potential for Distractions with Voice Recognition - A Concern for Auto Industry
With High Mental Distractions Caused by Voice Enabled HMI, Real & Effective Automotive Voice Recognition Technology Continues to Elude the Auto Industry: Risk of Mental Distraction by Type of Voice Enabled Task
Stable Automobile Production Trends Augurs Well for Speech and Voice Recognition Technology Market
Speech Recognition Charms Connected Media Solutions
Audio Mining for Searching Online Audio and Video Content
Speech Recognition Seeks Improvements in Processor Technology
Speech Recognition Technology Transforms Banking Industry
Increasing Adoption of Voice Biometrics in Financial Services Industry - Positive Outlook for Speech and Voice Recognition Market
Voice Authentication Systems for Mitigating Online Banking Fraud
Healthcare: A High Growth Market for Voice and Speech Recognition Technology
Key Benefits and Drawbacks of Speech Recognition Technology for Healthcare Sector
Major Benefits of Speech Recognition for Healthcare Industry
Enhanced Productivity
Time Savings
Better Workflows
Challenges Facing Speech Recognition Technology in Healthcare Domain
Voice Documentation Emerge as a Preferred Means for Data Collection
Hospitals Look towards Front-end Speech Recognition Deployments
Radiology Department & Point-of-Care: Potential Application Areas
Speech Recognition in Electronic Medical Records (EMR)
Speech-Enabled Self-Service Solutions for the Healthcare Sector
Rising Incidence of Cognitive Impairment Issues Drive Focus onto Assistive Speech Technology
Speech Recognition Holds Major Implications for B2B Marketing
Rising Use of Voice-Activated Commands for Home Automation Control
Voice Skills to Power Security Cameras
Voice Set to Emerge as Next Major Innovation in Industrial Enterprises
Leveraging Voice Recognition Technology for Industries
Interpol Uses Voice Recognition Technology to Identify Criminals
Voice Recognition Chatbot to Enable More Sales for Small Businesses
Tools for Visually Impaired
Distribution and Warehouse Management Leverages Potential of Speech Technology
How Speech Technology Operates in the Distribution Center
Advantages of Speech Technology in the Distribution Center
Voice Technology for Hotel Industry
Speech Technology Finds Favor among Law Enforcement Agencies
Law Enforcement Agencies Seek to Exploit Voice Stress Analyzer
Increasing Use of Speech Technology in Next Generation Networks (NGNs)
Speech Technology Facilitates Quick Information Access in the Military Sector
Open Standards: A Key Architectural Requisite

4. PRODUCT OVERVIEW
Speech Technology: Processing Human Speech
History of Speech Technology
Landmarks in the Advancement of Speech Recognition Technology
Speech Recognition Technology
Speech Recognition Modes
Dictation Mode
Command and Control Mode
Speech Recognition Technology: How it Helps Developers?
Applications
Advantages
Cost Savings
Improvement in Call Completion Rates
Delivery of Value-Added Content to Users
Higher Customer Satisfaction
Reduction in Agent Turnover Rate
Other Advantages in Brief
Types of Speech Technology
Automatic Speech Recognition
Types of Automatic Speech Recognition
Discrete Word Recognition
Continuous Word Recognition
Word Spotting
Phoneme Recognition
Natural Language - Grammar Based Recognition
Types of ASR Technology Solutions
Speaker-Independent Technology
Speaker-Dependent Technology
Isolated Speech Recognition Systems
Connected Speech Recognition Systems
Continuous Speech Recognition Systems
Automatic Speech Recognition: Applications
Principal Applications of Automatic Speech Recognition by Sector
Prospective Applications
Document Editing
Data Entry
Edutainment and Games
Advantages
Limitations
Text-to-Speech or Speech Synthesis
Process Description of Speech Synthesis
Visual Text-to-Speech
Text-to-Speech Vs. Digitized Voice
Applications
Advantages
Voice Recognition Technology
Speaker Verification
Methods of Speaker Verification
Text-Dependent Speaker Verification Methods
Hidden Markov Modeling (HMW)
Dynamic Time Warping (DTW)
Text-Independent Speaker Verification Methods
VQ-Based Method
Multivariate Auto-Regression (MAR)
Average-Spectrum-Based Method
Drawbacks
Distributed Speech Recognition System
Distributed Speech Recognition Services
Other Speech Technology Related Concepts
Interactive Voice Response
Phonetic Speech Recognition
Integration of Speech Recognition in IVR Systems
Attributes of Advanced Speech Solutions for IVRs
Advantages of IVR for Customer Service
Advantages of IVR for Management
Voice Over Internet Protocol
Natural Language Speech Recognition
Design, Development, and Implementation of NLSR Applications
Preliminary Collection of Data
Transcription of Data
Describing Key Reasons for Customer Calls
Tagging
System Training
Implementation
Speech Application Language Tags
Wireless Application Protocol
Voice Portal
VoiceXML
V-Commerce
Voice/Data Convergence
Voice Browsers

5. COMPETITIVE LANDSCAPE
An Intensely Competitive Marketplace
A Review of Competition in Key Sectors
Speech Engine
Analytics
Self-Service Suite
Speech Security
Professional Services
Tech Giants Invest in Voice Recognition

5.1 Focus on Select Global Players

5.2 Product Innovations/Introductions
LG Introduces Voice Activated LG Signature Wine Cellar
Uniqlo Launches Mobile Assistant Integrated with Google Voice Recognition Technology
Aculab Unveils VoiSentry Voice Recognition API
Nuance Communications Rolls Out Dragon Medical One in Canada
Sensory Unveils the Latest Version of TrulySecure Speaker Verification TSSV 2.0
Google Introduces Advanced Speech-to-Text Voice Recognition Service
IBM Rolls Out Watson Assistant
Lumenvox Unveils Lumenvox Version 16.0.100
Sensory Expands Waze Voice Command Feature with OK Waze
Mozilla Unveils Mozilla Source Speech Recognition Model and Voice Dataset
Cisco Rolls Out AI Powered Cisco Spark Voice Assistant
Garmin International Launches Garmin Speak in Amazon Alexa
LumenVox Unveils LumenVox Version 15.1
Sensory Launches VoiceGenie Solution on Bluetooth Headphones and Headsets

5.3 Recent Industry Activity
Concord Hospital Expands Use of Nuance Dragon Medical One
Concentrix Takes Over Convergys
Sensory Enhances AI in TrulyHandsfree
Nuance Partners with KT Corporation for Automotive Assistant
LumenVox Integrates Speaker Recognition Feature in SmilePass Identity Verification and Authentication Platform
LumenVox Merges with VoiceTrust
Groupe PSA Enters into Strategic Partnership with SoundHound
Flipkart Takes Over Liv.ai
Nuance Communications and Nexgen Enter into Strategic Partnership
Huawei Inks Cooperation Agreement with iFlytek for Speech Recognition Development
Microsoft Takes Over Semantic Machines
Nuance Communications Acquires Voicebox Technologies
Dialpad Takes Over TalkIQ
Voicebox Selects Databricks Unified Analytics Platform
Sensory's TrulySecure Facial Technology Supports Fusion of 2D and 3D Camera Data for High-Performance Security
TS&S Inks Contract with Honeywell for Vocollect System
Concentrix Acquires Convergys
[24]7 Renamed As [24]7.ai
LumenVox Partners with Speech-Soft Solutions
XMOS Takes Over Setem Technologies
Nuance Declares Productivity Advancements and Customization for Dragon Legal Group and Dragon Professional Group
Webhelp Takes Over Telecats
ANAM Electronics Partners with Linplay Technology
Cobalt Speech and Language Acquires Ramp's RampScribe Business
BJC HealthCare Chooses M*Modal for Speech Recognition and CDI System
Amnet and iFLYTEK Enter into Strategic Partnership

6. GLOBAL MARKET PERSPECTIVE

7. REGIONAL MARKET PERSPECTIVE

7.1 The United States
A. Market Analysis
Speech & Voice Recognition Software Market: An Overview
Speech Technology Market Remains Firm
Voice Recognition Market for Smartphones
Speech Recognition Technology: A Prominent Role in Healthcare Sector
Growing Adoption of Speech Recognition Systems among Physicians
Advancements in Speech Recognition Technology Augur Well for Healthcare Industry
Enterprise-Wide Deployment Key to Success of Speech Recognition Technology in Healthcare Sector
Nuance Leads Radiology Speech Recognition Market
Amid Growing Risks, Financial Sector Embraces Voice Biometrics
Stricter Government Regulations Propel Demand for Interactive Analytics Systems
Rising Demand for Speech Analytics Technology in Insurance Industry
Automotive Industry Looks to Voice Recognition Technology for Improving Driver Safety
Speech Recognition Technology Making Way into Air Traffic Control
B. Market Analytics

7.2 Canada
A. Market Analysis
Current and Future Analysis
Market Overview
B. Market Analytics

7.3 Japan
Market Analysis

7.4 Europe
Market Analysis

7.4.1 France
Market Analysis

7.4.2 Germany
Market Analysis

7.4.3 Italy
Market Analysis

7.4.4 The United Kingdom
Market Analysis

7.4.5 Spain
Market Analysis

7.4.6 Russia
Market Analysis

7.4.7 Rest of Europe
Market Analysis

7.5 Asia-Pacific
A. Market Analysis
Developing Asian Economies to Propel Future Growth
Growing Adoption of Voice Technology in Asia-Pacific Countries
Strong Demand for Smartphones Augurs Well for Speech Recognition in Asia-Pacific
B. Market Analytics

7.5.1 Australia
Market Analysis

7.5.2 China
A. Market Analysis
Current and Future Analysis
China Emerges as Lucrative Developer Market for Voice Technologies
Voice Recognition Technology from iFlytek Growing Popular in China
Competition
B. Market Analytics

7.5.3 India
A. Market Analysis
Current and Future Analysis
Speech Technology to Aid Indian Farmers
The Promise of Speech Recognition Technology for India's Agro Sector
Indian Startups Look to Tap the Lucrative Voice-Based Personal Assistants Market
B. Market Analytics

7.5.4 South Korea
Market Analysis

7.5.5 Rest of Asia-Pacific
A. Market Analysis
Current and Future Analysis
Singapore: A Key Regional Market
Voice Assistants to Witness Broader Consumer Uptake
Singapore Develops Speech Recognition System
IMDA Develops AI Library of National Speech Corpus
B. Market Analytics

7.6 Latin America
Market Analysis

7.7 Rest of World
Market Analysis

8. COMPANY PROFILES

Total Companies Profiled: 76 (including Divisions/Subsidiaries - 78)

• The United States (47)
• Canada (2)
• Japan (2)
• Europe (15)
  • France (1)
  • Germany (4)
  • The United Kingdom (3)
  • Rest of Europe (7)
• Asia-Pacific (Excluding Japan) (9)
• Middle East (3)

For more information about this report visit https://www.researchandmarkets.com/research/j68qtm/global_voice_and?w=12

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

                    CONTACT: ResearchAndMarkets.com
                             Laura Wood, Senior Press Manager
                             press@researchandmarkets.com
                             For E.S.T Office Hours Call 1-917-300-0470
                             For U.S./CAN Toll Free Call 1-800-526-8630
                             For GMT Office Hours Call +353-1-416-8900
                    Related Topics: Natural Language Processing