Voice recognition is a software that has the ability to convert and decode human voice into speech easily understood by a computer. It is an ability of a machine to receive, understand, and dictate the spoken commands. Voice recognition is used for biometric security purposes to determine the voice of a particular person to grant or deny access. This technology has become very popular in mobile banking, which requires identification of authenticated users by their spoken commands to help them make transactions.
Analysts forecast the Global Voice Recognition Market to grow at a CAGR of 9.40 percent over the period 2014-2019.
The report covers the present scenario and the growth prospects of the Global Voice Recognition market for the period 2015-2019. To calculate the market size, the report considers the revenue generated from:
- Hardware: The revenue generated from the sales of hardware systems
- Software: The revenue generated from the sales of software applications
The report also includes the detailed analysis of the following software applications:
- Voice biometrics: This includes the revenue from speaker identification and speaker verification systems
It also presents the vendor ranking and a corresponding detailed analysis of the top four vendors in the Global Voice Recognition market. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.
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- Nuance Communications
Other Prominent Vendors
- Advanced Voice Recognition Systems
- Auraya Systems
- Raytheon BBN Technologies
- Voice Biometrics Group
- Voice Trust
- Increased Use of Biometrics
- Lack of Accuracy
- Increased Demand in Healthcare Industry
Key Questions Answered in this Report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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