› › Speech and Voice Recognition Market by Technology (Speech Recognition, Voice Recognition), Vertical (Automotive, Consumer, Banking, Financial Services and Insurance (BFSI), Retail, Education, Healthcare & Government) and Geography - Global Forecast to 2023 Speech and Voice Recognition Market by Technology (Speech Recognition, Voice Recognition), Vertical (Automotive, Consumer, Banking, Financial Services and Insurance (BFSI), Retail, Education, Healthcare & Government) and Geography - Global Forecast to 2023. The speech and voice recognition market was valued at USD 5.15 Billion in 2016 and is expected to reach USD 18.30 Billion by 2023, at a CAGR of 19.80% during the forecast period. For this study, the base year considered is 2016, and the forecast period is between 2017 and 2023.

HMMs are used in speech recognition because a speech signal can be viewed. Prolonged use of speech recognition software in conjunction with. Military High. Voice recognition software is used to convert spoken language into text by using speech recognition algorithms. It can be used by people with disabilities, for in-car systems, in the military, and also by businesses for dictation,.

Table of Contents 1 Introduction (Page No. - 15) 1.1 Objectives of the Study 1.2 Market Definition 1.3 Study Scope 1.3.1 Markets Covered 1.3.2 Geographic Scope 1.3.3 Years Considered for the Study 1.4 Currency 1.5 Limitations 1.6 Stakeholders 2 Research Methodology (Page No.

- 19) 2.1 Research Data 2.1.1 Secondary Data 2.1.1.1 Key Data From Secondary Sources 2.1.2 Primary Data 2.1.2.1 Key Data From Primary Sources 2.1.2.2 Key Industry Insights 2.1.2.3 Breakdown of Primaries 2.2 Market Size Estimation 2.2.1 Bottom-Up Approach 2.2.2 Top-Down Approach 2.3 Market Breakdown & Data Triangulation 2.4 Research Assumptions 3 Executive Summary (Page No. - 28) 4 Premium Insight (Page No. - 33) 4.1 Attractive Market Opportunities in the Market 4.2 Global Market, By Technology 4.3 APAC Held the Largest Share of the Global Market in 2017 4.4 China Dominated the Market in APAC in 2017 4.5 Fraud Investigation Application in Market 5 Market Overview (Page No. The speech and voice recognition market is expected to be valued at USD 6.19 Billion in 2017 and is likely to reach USD 18.30 Billion by 2023, at a CAGR of 19.80% between 2017 and 2023. The increased demand for speech-based biometric systems for multifactor authentication is a driving factor for this market. The speech and voice recognition market has been segmented on the basis of technology into voice recognition and speech recognition. The market for voice recognition is expected to grow at a higher CAGR during the forecast period.

The need for biometrics authentication leads to the growing integration of voice authentication in mobile banking and creates a growing demand for multifactor authentication in enterprises and industries. In March 2017, iFlytek Co., Ltd. (China) partnered with Amnet Group (UK) to develop advanced programmatic technology, including big data and artificial intelligence. According to this partnership agreement, Amnet Group (UK) will have access to machine learning, voice recognition, and big data analytics of iFlytek Co., Ltd. The market in APAC is expected to grow at the highest CAGR during the forecast period. The increasing awareness among masses and lowered costs of biometric devices drive the growth of the speech and voice recognition market in countries such as India, China, and Japan.

In March 2017, Microsoft Corporation (US) partnered with Toyota Motor Corporation (Japan) to bring voice recognition technology to cars. Under this partnership, Microsoft will provide the latter access to its intellectual properties, including operating systems, voice recognition technology, artificial intelligence, and gesture control. According to this partnership agreement, Toyota Motor Corporation will also be able to use the cloud computing platform of Microsoft, which will provide services related to individual customer experiences. The major restraint for the recognition market is the lack of accuracy in speech and voice recognition systems in noisy and harsh working environments. The performance of speech recognition systems degrades drastically in noisy and reverberant environments. This is especially true when the background noise is itself speech.

The effect worsens as the distance between the talker and the microphone increases. Winrar File Password Cracker on this page. Ragnarok Offline 3ceam. The key players in this market focus on strategic partnerships and collaborations, acquisitions, agreements, contracts, and product launches to increase revenue. Nuance Communications, Inc. (US) is a leading player in the speech and voice recognition market, followed by Microsoft Corporation (US) and Alphabet Inc. In March 2016, Nuance Communications, Inc.

Signed an agreement with TalkTalk Communications Ltd. (UK) to access Nuance’s voice biometrics technology and improve customer experience in the automated phone system.