Market Insights:
Automatic Speech Recognition Apps Market size was valued at USD 3.6 Billion in 2021, registering a CAGR of 12.4% during the forecast period (2022-2030), and the market is projected to be worth USD 10.3 Billion by 2030.
A system that detects and processes human sounds is known as automatic speech recognition (ASR). It aids in the recognition of an individual’s voice and allows the user to validate the identity of the person speaking to the computer. This software-based technology frequently promotes human communication through the use of artificial intelligence (AI) or a computer interface, which is analogous to a regular connection. There are two types of automatic speech recognition programmes: guided dialogue exchanges and natural language dialogues or natural language processing (NLP).
Automatic Speech Recognition Apps Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Product type (Recognition Software for PCs and Macs, Recognition Software for Phones and Tablets, Recognition Software for Automobiles), By application (Healthcare, Military, Telephone, Others), and companies (NeoSpeech, Entrada, Castel Communications, Crescendo Systems, Openstream, VoltDelta, Voicepoint, Total Voice Technologies, Brainasoft, Nuance, LilySpeech,Smart Action Company, Lyrix,Go Transcribe, Protokol), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 12.4%, over the forecast period of 2022–2030.
Driver:
The increased adoption of Automatic Speech Recognition Apps in the Electronic Security industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Automatic Speech Recognition Apps also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Automatic Speech Recognition Apps in many sectors also boosts the market growth during the forecast period.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2030 (USD Billion) | 10.3 Billion |
| CAGR (2022-2030) | 12.4% |
| By Product Type | Recognition Software for PCs and Macs, Recognition Software for Phones and Tablets, Recognition Software for Automobiles |
| By Application | Healthcare, Military, Telephone, Others |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | NeoSpeech, Entrada, Castel Communications, Crescendo Systems, Openstream, VoltDelta, Voicepoint, Total Voice Technologies, Brainasoft, Nuance, LilySpeech,Smart Action Company, Lyrix,Go Transcribe, Protokol |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Automatic Speech Recognition Apps market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
NeoSpeech, Entrada, Castel Communications, Crescendo Systems, Openstream, VoltDelta, Voicepoint, Total Voice Technologies, Brainasoft, Nuance, LilySpeech,Smart Action Company, Lyrix,Go Transcribe, Protokol
Market Segment Analysis:
By Product Type
- Recognition Software for PCs and Macs
- Recognition Software for Phones and Tablets
- Recognition Software for Automobiles
By Application
- Healthcare
- Military
- Telephone
- Others
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Automatic Speech Recognition Apps industries in the region.
Key Automatic Speech Recognition Apps Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Automatic Speech Recognition Apps Market segments.
– Largest Market Share Held by Industry to Industry for Automatic Speech Recognition Apps
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Automatic Speech Recognition Apps Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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