Speech and voice recognition technology has a wide range of applications, features, and uses. It enables hands-free operation of devices and facilitates voice commands for tasks like searching, making calls, and controlling smart home devices. Speech-to-text conversion helps in transcription services, dictation, and accessibility for individuals with disabilities. Voice biometrics enhances security and authentication. It finds applications in virtual assistants, customer support systems, automotive infotainment, and healthcare for dictation, diagnostics, and patient care. With its versatility and convenience, speech and voice recognition technology is revolutionizing the way we interact with technology and improving overall user experiences.
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Data Bridge Market Research analyses that the Asia-Pacific Speech and Voice Recognition Market is valued at USD 2,512.74 million in 2022 and is expected to reach USD 11,125.35 million by 2030, registering a CAGR of 20.44% during the forecast period of 2023 to 2030. Advancements in natural language processing (NLP), deep learning, machine learning, and artificial intelligence (AI) have greatly improved the accuracy and performance of speech and voice recognition systems. These technological advancements have made voice interfaces more reliable and efficient, increasing their adoption across various industries which drives the market’s growth.
Key Findings of the Study
The increasing popularity of voice-activated systems is expected to drive the market's growth rate
The rising demand for speech and voice recognition technology has been driven by the increasing popularity of voice-activated systems like virtual assistants and smart speakers. Consumers are now using voice commands for various tasks, including internet searches, controlling smart home devices, making calls, and sending messages. This trend has created a highly profitable market for voice recognition technology as businesses strive to meet the growing demand for seamless voice-based interactions and enhanced user experiences.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Technology (Artificial Intelligence (AI) Based and Non-Artificial Intelligence Based), Product Type (Speech Recognition Software, Automatic Speech Recognition, Text-To-Speech, Speaker Identification, Speaker verification, and Voice Recognition Software), Component (Solution, Services), Deployment (Cloud Based and On Premise), Vertical (Entertainment and Mobile Apps, Banking, Financial Services, and Insurance (BFSI), Healthcare, Automotive, Analytics, Military, and Security, Education and Academics, Others)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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[24]7.ai, Inc (U.S.), 3M (U.S.), Acapela Group, Advanced Voice Recognition Systems, Inc. (U.S.), Apple, Inc. (U.S.), Genesta Property Nordic AB (Sweden), Genesys (U.S.), Google (U.S.), Honeywell International, Inc.(U.S.), IBM (U.S.), LumenVox (U.S.), Microsoft (U.S.), Nuance Communications, Inc. (U.S.), Open Text Corporation (Canada), Sensory, Inc. (U.S.), SESTEK (Turkey), Voxware, (U.S.), Wizzard Speech LLC (Germany)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The Asia-Pacific speech and voice recognition market is segmented on the basis of technology, product type, component, deployment and vertical.
- On the basis of technology the market is segmented into artificial intelligence (AI) based and non-artificial intelligence based.
- On the basis of product type the market is segmented into speech recognition software, automatic speech recognition, text-to-speech, speaker identification, speaker verification and voice recognition software.
- On the basis of component the market is segmented into solution, services.
- On the basis of deployment the market is segmented into cloud based and on premise.
- On the basis of vertical the market is segmented into entertainment and mobile apps, banking, financial services, and insurance (BFSI), healthcare, automotive, analytics, military and security, education and academics, others.
Major Players
Data Bridge Market Research recognizes the following companies as the major Asia-Pacific speech and voice recognition market players in Asia-Pacific speech and voice recognition market are 24]7.ai, Inc (U.S.), 3M (U.S.), Acapela Group, Advanced Voice Recognition Systems, Inc. (U.S.), Apple, Inc. (U.S.), Genesta Property Nordic AB (Sweden), Genesys (U.S.)
Market Development
- In May 2021, Nuance Communications collaborated with Athena Fitness, to combine visible assistant and Nuance discourse era into Athena Fitness’s cellular programs and digital fitness records. With this integration, customers can use voice-pushed strength to lessen time and enhance the affected person’s experience.
- In April 2021, Baidu collaborated with Logitech, to alternate performance, enhance performance and streamline conversation with language boundaries thru Voice and synthetic intelligence (Al). The partnership dreams to empower Baidu Al to grow the accuracy and velocity of popularity for Logitech customers.
Regional Analysis
Geographically, the countries covered in the Asia-Pacific speech and voice recognition market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
For more detailed information about the Asia-Pacific speech and voice recognition market report, click here – https://www.databridgemarketresearch.com/reports/asia-pacific-speech-voice-recognition-market
