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(MoneyNewsWire.Net, May 05, 2016 )
A speech recognition software identifies words spoken by an individual or speaker into a microphone, converts them into a computer-readable format, and responds automatically. These software applications recognize speech in multiple languages. These applications are used both by individual consumers and enterprises in the healthcare; banking, financial services, and insurance; legal; and telecommunications sectors for a number of purposes including fraud management, speaker verification, speaker identification, biometrics, and vehicle telematics. The biometrics segment is seeing a high demand for speech recognition software because of the growing instances of fraud. Vendors are developing easy-to-deploy and cost-effective speech recognition applications that help in fraud management.
Technavios analysts forecast the global speech recognition software market to grow at a CAGR of 16.99% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global speech recognition software market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of speech recognition solutions, including software, integrated solutions, and services.
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The market is divided into the following segments based on geography:
Americas
APAC
EMEA
New report, Global Speech Recognition Software Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
AT&T
IBM
Microsoft
Nuance Communications
Other prominent vendors
Dolby Systems
LumenVox
OnMobile Global
Raytheon BBN Technologies
Sensory
Tellme Networks
Voxeo
Market driver
Increased use of biometrics
For a full, detailed list, view our report
Market challenge
Lack of accuracy
For a full, detailed list, view our report
Market trend
Increased use of voice passwords
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2020 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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Table Of Content
PART 01: Executive summary
Highlights
PART 02: Scope of the report
Market overview
Top-vendor offerings
PART 03: Market research methodology
Research methodology
Economic indicators
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Market overview
Technology segments
Advantages and disadvantages of speech recognition software
Market size and forecast
Global speech recognition market by product segmentation 2015
PART 06: Five forces analysis
PART 07: Market segmentation by application
Global speech recognition software market by application
PART 08: Market segmentation by end-user
Enterprise users
Individual users
PART 09: Geographical segmentation
Global speech recognition software market by region
Global speech recognition software market by region 2015-2020 (revenue)
PART 10: Key leading countries
US
UK
Japan
PART 11: Buying Criteria
PART 12: Market drivers
Increased use of biometrics
Demand for speech recognition on mobile devices
Use of speech recognition in healthcare industry
Need to improve competitive approach
PART 13: Impact of drivers
PART 14: Market challenges
Lack of accuracy
Security concerns
Lack of awareness among end-users
Inability to suppress surrounding noise
PART 15: Impact of drivers and challenges
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