Asia-Pacific Speech and Voice Recognition System Market is expected to grow at a CAGR of 24.5% during the forecast period and the market is expected to reach US$ 7.92Bn. by 2026.Asia-Pacific Speech and Voice Recognition System Market Introduction and Market scenario:
Voice recognition also referred to as speech recognition is a system that translates the analog waves of the human voice into digital data by sampling the sound and converting speech to on-screen text or a computer command, a computer has to go through several complex steps. Voice recognition is an alternative to typing on a keyboard to operate a device, perform commands, or write without having to use a keyboard, mouse, or press any buttons, a computer software program, or a hardware device with the ability to decode the human voice. Voice recognition is a process of providing a fairly natural and intuitive way of controlling the simulation while allowing the user's hands to remain free. The rise in the demand for speech and voice recognition systems for biometric purposes is also supporting the growth of the speech and voice recognition market. Also, the speech and voice recognition system is now adopting multi-linguistics and local languages. The systems are used in autonomous cars, the education of disabled students, and also in service robotics is driving the speech and voice recognition market growth. The main drive of introducing voice recognition within an automotive sector is for simplifying the life of both driver and passenger traveling in a vehicle along with making the user-friendly operating system. This helps in performing some actions using the speech commands by the driver or the passengers like open/close doors, switch on/off headlamp along with indicating the signal of the vehicle, and more. Voice recognition system in automotive comprises of control of communication systems assimilated in the car infotainment system including telephone, audio devices, and endpoint inputs for navigation. Moreover, the increasing use of voice recognition in autonomous and connected vehicles is therefore generating new opportunities for the growth of the Asia-Pacific speech and voice recognition market. However, the limitations in voice recognition and low internet speed may act as a challenge for the speech and voice recognition market in the Asia Pacific. Also, the errors and lack of accuracy are restraining the growth of the Asia-Pacific speech and voice recognition market.Asia-Pacific Speech and Voice Recognition System Market Segment Overview:
By product type, the speech and voice recognition market is segmented into speech recognition software and voice recognition software. The speech recognition software segment is expected to hold the largest market share of XX% by 2026, thanks to it provides cost-effective solutions. Based on components, the speech and voice recognition market is segmented into solutions and services. The solution segment dominates the component segment and is expected to retain its steady position during the forecast period, this is mainly because of high initial investment in solutions. Based on deployment, the speech and voice recognition market is segmented into cloud-based and on-premise. The cloud-based segment is expected to grow at the highest CAGR of XX% during the estimated period because these are cost-specific and have less maintenance in comparison to the on-premise segment. In terms of vertical, the speech and voice recognition market is segmented into entertainment & mobile apps, banking, financial services, & insurance (BFSI), healthcare, automotive, analytics, military & security, education & academics, and others. The vertical segment is dominated by the entertainment & mobile apps segment in 2019, on accounts it provides better speech and voice recognition solutions to the customers. Also, the automotive segment is expected to hold the largest market share of the global market by 2026. This growth is attributed to a higher adoption rate by different vehicle manufacturers to provide passenger cars with voice recognition systems which are expected to result in higher demand for voice recognition systems.To know about the Research Methodology :- Request Free Sample Report
Asia-Pacific Speech and Voice Recognition System Market Country Level Analysis:
Asia-Pacific is expected to be one of the fastest-growing regions in the voice recognition system market for Automotive by 2026. China, Japan, India, and South Korea are some of the major countries that are favorable to the overall growth of voice recognition systems in the Asia Pacific. China held the largest market share in the Asia-Pacific speech and voice recognition market in 2019, because of the technological advancements that are taking place in artificial intelligence (AI)-based software in the forecast period (2020-2026). Japan has been accounted for the second-largest market share in the Asia-Pacific for the artificial intelligence (AI)-based software segment. As well, South Korea has been registered for the third-largest market share in the artificial intelligence (AI) based software segment as there is an increase in usage and consciousness of speech and voice recognition devices in the profiled market.Competitive Landscape:
Partnership, joint ventures, and other strategies improve the company's market share with increased coverage and presence. It also delivers the benefit for the organization to improve their contribution to the speech and voice recognition market. Many product developments are introduced by companies worldwide which are also accelerating the growth of the speech and voice recognition market. For example, in June 2019, GoVivace Inc. had declared its full support of MRCPv2 for its speech and voice recognition technology which is expected to enable easy integration in all its telephony platforms. MRCP allows telephony applications to communicate through speech. This will increase its speech technology services like language, accent, gender, and speaker identification. The report focuses on the speech and voice recognition system market value at the top countries of the Asia Pacific, which shows a regional development, including market size, share, revenue, and much more across the Asia Pacific. The report has covered, capacity, production value, cost/profit, and supply/demand by statistical analysis. A brief analysis of drivers, restraints, opportunities, and challenges in the market is also covered with examples by region. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. It also has covered the analysis of key player’s growth strategies, micro and macro analysis of markets, key developments, and key trends in the market.Asia-Pacific Speech and Voice Recognition System Market Scope: Inquire before buying
Asia-Pacific Speech and Voice Recognition System Market, by Country
• China • India • Japan • South Korea • Australia • ASEAN • Rest of Asia PacificAsia-Pacific Speech and Voice Recognition System Market Key Players
• Nuance Communications, Inc. • Microsoft • IBM Corporation • Amazon Web Services, Inc. (a subsidiary of Amazon.com, Inc.) • Google (a subsidiary of Alphabet Inc.) • Sensory Inc. • iFLYTEK Corporation • Uniphore • HOYA Corporation • GoVivace Inc. • FueTrek Co., Ltd. • Lionbridge Technologies, Inc. • NEC Corporation • Renesas Electronics Corporation • Advanced Media, Inc. • Ideals Solutions • Intralinks • Ansarada • Firmex • Citrix • Brainloop • Caplinked • Securedocs • Merrill • Drooms • Ethosdata • Smartroom • Auraya Systems Pty Ltd. • Apple Inc. • HARMAN International • Advanced Voice Recognition Systems, Inc. • Fulcrum Biometrics, LLC.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Asia-Pacific Speech and Voice Recognition System Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2019 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Speech and Voice Recognition System Market 3.4. Geographical Snapshot of the Speech and Voice Recognition System Market, By Manufacturer share 4. Asia-Pacific Speech and Voice Recognition System Market Overview, 2019-2026 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Asia-Pacific Speech and Voice Recognition System Market 5. Supply Side and Demand Side Indicators 6. Asia-Pacific Speech and Voice Recognition System Market Analysis and Forecast, 2019-2026 6.1. Asia-Pacific Speech and Voice Recognition System Market Size & Y-o-Y Growth Analysis. 7. Asia-Pacific Speech and Voice Recognition System Market Analysis and Forecasts, 2019-2026 7.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 7.1.1. Artificial Intelligence (AI) Based 7.1.2. Non-Artificial Intelligence Based 7.2. Market Size (Value) Estimates & Forecast By Product Type, 2019-2026 7.2.1. Speech Recognition Software 7.2.2. Voice Recognition Software 7.3. Market Size (Value) Estimates & Forecast By Component, 2019-2026 7.3.1. Solution 7.3.2. Services 7.4. Market Size (Value) Estimates & Forecast By Deployment, 2019-2026 7.4.1. Cloud Based 7.4.2. On Premise 7.5. Market Size (Value) Estimates & Forecast By Verticals, 2019-2026 7.5.1. Entertainment & Mobile Apps 7.5.2. Banking 7.5.3. Financial Services, & Insurance (BFSI) 7.5.4. Healthcare 7.5.5. Automotive 7.5.6. Analytics 7.5.7. Military & Security 7.5.8. Education & Academics 7.5.9. Others 8. Asia Pacific Speech and Voice Recognition System Market Analysis and Forecasts, by Country 8.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 8.1.1. China 8.1.2. India 8.1.3. Japan 8.1.4. South Korea 8.1.5. Australia 8.1.6. ASEAN 8.1.7. Rest of Asia Pacific 9. China Speech and Voice Recognition System Market Analysis and Forecasts, 2019-2026 9.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 9.1.1. Artificial Intelligence (AI) Based 9.1.2. Non-Artificial Intelligence Based 9.2. Market Size (Value) Estimates & Forecast By Product Type, 2019-2026 9.2.1. Speech Recognition Software 9.2.2. Voice Recognition Software 9.3. Market Size (Value) Estimates & Forecast By Component, 2019-2026 9.3.1. Solution 9.3.2. Services 9.4. Market Size (Value) Estimates & Forecast By Deployment, 2019-2026 9.4.1. Cloud Based 9.4.2. On Premise 9.5. Market Size (Value) Estimates & Forecast By Verticals, 2019-2026 9.5.1. Entertainment & Mobile Apps 9.5.2. Banking 9.5.3. Financial Services, & Insurance (BFSI) 9.5.4. Healthcare 9.5.5. Automotive 9.5.6. Analytics 9.5.7. Military & Security 9.5.8. Education & Academics 9.5.9. Others 10. India Speech and Voice Recognition System Market Analysis and Forecasts, 2019-2026 10.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 10.2. Market Size (Value) Estimates & Forecast By Product Type, 2019-2026 10.3. Market Size (Value) Estimates & Forecast By Component, 2019-2026 10.4. Market Size (Value) Estimates & Forecast By Deployment, 2019-2026 10.5. Market Size (Value) Estimates & Forecast By Verticals, 2019-2026 11. Japan Speech and Voice Recognition System Market Analysis and Forecasts, 2019-2026 11.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 11.2. Market Size (Value) Estimates & Forecast By Product Type, 2019-2026 11.3. Market Size (Value) Estimates & Forecast By Component, 2019-2026 11.4. Market Size (Value) Estimates & Forecast By Deployment, 2019-2026 11.5. Market Size (Value) Estimates & Forecast By Verticals, 2019-2026 12. South Korea Speech and Voice Recognition System Market Analysis and Forecasts, 2019-2026 12.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 12.2. Market Size (Value) Estimates & Forecast By Product Type, 2019-2026 12.3. Market Size (Value) Estimates & Forecast By Component, 2019-2026 12.4. Market Size (Value) Estimates & Forecast By Deployment, 2019-2026 12.5. Market Size (Value) Estimates & Forecast By Verticals, 2019-2026 13. Australia Speech and Voice Recognition System Market Analysis and Forecasts, 2019-2026 13.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 13.2. Market Size (Value) Estimates & Forecast By Product Type, 2019-2026 13.3. Market Size (Value) Estimates & Forecast By Component, 2019-2026 13.4. Market Size (Value) Estimates & Forecast By Deployment, 2019-2026 13.5. Market Size (Value) Estimates & Forecast By Verticals, 2019-2026 14. ASEAN Speech and Voice Recognition System Market Analysis and Forecasts, 2019-2026 14.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 14.2. Market Size (Value) Estimates & Forecast By Product Type, 2019-2026 14.3. Market Size (Value) Estimates & Forecast By Component, 2019-2026 14.4. Market Size (Value) Estimates & Forecast By Deployment, 2019-2026 14.5. Market Size (Value) Estimates & Forecast By Verticals, 2019-2026 15. Rest of Asia Pacific Speech and Voice Recognition System Market Analysis and Forecasts, 2019-2026 15.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 15.2. Market Size (Value) Estimates & Forecast By Product Type, 2019-2026 15.3. Market Size (Value) Estimates & Forecast By Component, 2019-2026 15.4. Market Size (Value) Estimates & Forecast By Deployment, 2019-2026 15.5. Market Size (Value) Estimates & Forecast By Verticals, 2019-2026 16. Competitive Landscape 16.1. Geographic Footprint of Major Players in the Asia-Pacific Speech and Voice Recognition System Market 16.2. Competition Matrix 16.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Application, and R&D Investment 16.2.2. New Product Launches and Product Enhancements 16.2.3. Market Consolidation 16.2.3.1. M&A by Regions, Investment and Verticals 16.2.3.2. M&A, Forward Integration and Backward Integration 16.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 16.3. Company Profile: Key Players 16.3.1. Nuance Communications, Inc. 16.3.1.1. Company Overview 16.3.1.2. Financial Overview 16.3.1.3. Geographic Footprint 16.3.1.4. Product Portfolio 16.3.1.5. Business Strategy 16.3.1.6. Recent Developments 16.3.2. Microsoft 16.3.3. IBM Corporation 16.3.4. Amazon Web Services, Inc. (a subsidiary of Amazon.com, Inc.) 16.3.5. Google (a subsidiary of Alphabet Inc.) 16.3.6. Sensory Inc. 16.3.7. iFLYTEK Corporation 16.3.8. Uniphore 16.3.9. HOYA Corporation 16.3.10. GoVivace Inc. 16.3.11. FueTrek Co., Ltd. 16.3.12. Lionbridge Technologies, Inc. 16.3.13. NEC Corporation 16.3.14. Renesas Electronics Corporation 16.3.15. Advanced Media, Inc. 16.3.16. Ideals Solutions 16.3.17. Intralinks 16.3.18. Ansarada 16.3.19. Firmex 16.3.20. Citrix 16.3.21. Brainloop 16.3.22. Caplinked 16.3.23. Securedocs 16.3.24. Merrill 16.3.25. Drooms 16.3.26. Ethosdata 16.3.27. Smartroom 16.3.28. Auraya Systems Pty Ltd. 16.3.29. Apple Inc. 16.3.30. HARMAN International 16.3.31. Advanced Voice Recognition Systems, Inc. 16.3.32. Fulcrum Biometrics, LLC. 17. Primary Key Insights