At A CAGR Of 16.99% , Global Speech Recognition Software Industry will rise in the period of 2016-2020
About Speech Recognition Software
A speech recognition software identifies words spoken by an individual or speaker into a microphone, converts them into a computer-readable format, and responds automatically.
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These software applications recognize speech in multiple languages. These applications are used both by individual consumers and enterprises in the healthcare; banking, financial services, and insurance; legal; and telecommunications sectors for a number of purposes including fraud management, speaker verification, speaker identification, biometrics, and vehicle telematics. The biometrics segment is seeing a high demand for speech recognition software because of the growing instances of fraud. Vendors are developing easy-to-deploy and cost-effective speech recognition applications that help in fraud management.
Technavios analysts forecast the global speech recognition software market to grow at a CAGR of 16.99% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global speech recognition software market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of speech recognition solutions, including software, integrated solutions, and services.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
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Technavio's report, Global Speech Recognition Software Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
AT&T
IBM
Microsoft
Nuance Communications
Other prominent vendors
Dolby Systems
LumenVox
OnMobile Global
Raytheon BBN Technologies
Sensory
Tellme Networks
Voxeo
Market driver
Increased use of biometrics
For a full, detailed list, view our report
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