Market Overview

Global Voice Recognition Market to 2023: Growing Security Concerns Drive the Market for Voice Recognition

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Global Voice Recognition Market to 2023: Growing Security Concerns Drive the Market for Voice Recognition

PR Newswire

DUBLIN, Aug 7, 2018 /PRNewswire/ --

The "Global Voice Recognition Market - Segmented by Deployment Type (Cloud, On - Premise), End User (Banking, Telecommunications, Healthcare, Government, Consumer Applications), and Region - Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

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Global Voice Recognition Market is expected to grow at a CAGR of over 16% during the forecast period (2018-2023). The scope of the report is limited to deployment type which includes Cloud, On-premise. The End Users considered in the scope of the report include Banking, Telecommunications, Healthcare, Government, and Consumer Applications.

Voice based searches have been highly adopted by various consumer demographics. ComScore, an American Analytics Company predicted that 50% of the searches are estimated to be voice searches by 2020. The adoption of voice recognition technologies adds to the efficiency of various processes as an average person can speak about 150 words per minute while only 60 words can be typed in a minute on average.

Google has already released statistics according to which 70% of the searches have been made in natural or conversational language' which indicate the scope for the adoption of voice recognition. Growing number of security attacks over the last few years, the most notable being Yahoo's data breach, which is considered to the biggest security breach of the 21st century, is also expected to boost the adoption of more secure authentication methods like voice based authentication.

Key Highlights



  • Growing Security concerns drive the market for voice recognition
  • Banking Expected to Be One of the Primary Recipients of the Technology
  • China Is Expected to Have High Growth for Voice Recognition Market

Key Developments in Voice Recognition Market

  • March 2018: Voiximplant, a cloud communications platform has announced the launch of a web services platform which is capable of integrating voice recognition capabilities with outbound call campaigns. This enables businesses to design complex call scenarios with an easy to use editor which helps in productivity. Using smart calls has also been found to be three times less expensive compared to human resources.

Key Topics Covered

1. Introduction
1.1 Key study deliverables
1.2 Market definition
1.3 Study Assumptions

2. Research Methodology

3. Executive Summary

4. Voice Recognition Market Insights
4.1 Voice Recognition Market overview
4.2 Industry attractiveness- Porter's Five Forces Analysis
4.2.1 Threat of new entrants
4.2.2 Bargaining power of suppliers
4.2.3 Bargaining power of consumers
4.2.4 Threat of substitute products
4.2.5 Intensity of Competitive Rivalry

5. Voice Recognition Market Dynamics
5.1 Voice Recognition Market drivers
5.1.1 Need for Voice authentication technologies
5.1.2 Better productivity and ease of operation
5.2 Voice Recognition Market Restraints
5.2.1 Lack of accuracy in the voice recognition systems

6. Technological Overview

7. Global Voice Recognition Market Segmentation
7.1 Voice Recognition Market By Deployment Type
7.1.1 On Premise
7.1.2 Cloud
7.2 Voice Recognition Market By End User
7.2.1 Banking
7.2.2 Telecommunications
7.2.3 Healthcare
7.2.4 Government
7.2.5 Consumer Applications
7.2.6 Other
7.3 Voice Recognition Market By Geography
7.3.1 North America
7.3.2 Europe
7.3.3 Asia Pacific
7.3.4 Latin America
7.3.5 Middle East and Africa

8. Voice Recognition Market Key Vendor Profiles
8.1 Nuance Communications
8.2 Agnitio Corp
8.3 Auraya Systems
8.4 Brianasoft
8.5 VoiceBox Technologies
8.6 Fulcrum Biometrics
8.7 Neurotechnology
8.8 VoiceTrust
8.9 M2SYS Biometrics
8.10 Sensory, Inc.
8.11 VoiceBase Inc.

9. Voice Recognition Market Investment Analysis
9.1 Recent mergers and acquisitions
9.2 Investment scenario and opportunities

10. Future of Voice Recognition Market

For more information about this report visit https://www.researchandmarkets.com/research/nkgg7v/global_voice?w=5

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