Market Overview:
The global automatic voice and speech recognition software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for voice recognition technology in various applications such as K-12, colleges/universities, and businesses. In addition, the growing demand for cloud-based solutions is also contributing to the growth of this market. However, lack of awareness about automatic voice and speech recognition software among end users is restraining the growth of this market.
Product Definition:
Automatic voice recognition (AVR) and speech recognition (SR) software are used to convert spoken words into text. They can be used in a variety of settings, including call centers, healthcare facilities, and manufacturing plants. The importance of automatic voice and speech recognition software lies in its ability to improve worker productivity by reducing the need for manual data entry. It can also help to improve accuracy by eliminating the potential for human error.
Consulting:
Consulting is a service that involves the provision of professional advice to an organization by a voice & speech recognition industry expert. The consulting services help organizations in enhancing their business processes and decision-making capabilities through better analysis, which leads to improved results. Consulting services are used for various applications such as training & education, process consulting, technology assessment and deployment support, system integration & consultation along with post-deployment assistance.
Global Consulting Voice.
Support & Maintenance:
Support & Maintenance is a service provided by the software manufacturers to assist users with technical issues and periodic updates. Automatic voice & speech recognition software requires periodic updates in order to recognize new words or phrases. Support & Maintenance services are used for providing assistance in updating the recognized data from time to time. The support and maintenance services include various functions such as repairing, restoring, upgrading, etc.
Application Insights:
The application segment has been further categorized into customer support, sales and marketing, human resources, banking and financial services, healthcare administration and management. The customer support segment dominated the market in 2017. Automatic speech recognition software is widely used across multiple applications to facilitate efficient communication between humans and computers. Customer support representatives can use the software to quickly find information stored in a client¢â‚¬â„¢s record library or address a specific question about an account by feeding it automatically recognized speech clips captured from recorded voice memos or phone calls.
The integration & implementation segment accounted for over 25% of the overall revenue share in 2017 due to extensive demand from small-to-medium businesses (SMBs).
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of a large number of vendors and recognition solutions providers in this region. The increasing adoption of voice-enabled applications by end users is also expected to drive growth over the forecast period. Furthermore, growing demand for smartphones with advanced voice recognition capabilities is anticipated to further propel regional growth during the forecast period.
The Asia Pacific automatic speech & voice recognition software market is expected to witness significant growth over the next eight years owing to rising investments by prominent players in this region for developing new products and enhancing their existing product portfolio. Moreover, increasing smartphone penetration rates coupled with advancements made in mobile operating systems that support natural language processing are some other factors driving regional growth during the forecast period.
Growth Factors:
- Increasing demand for voice recognition software in the automotive industry for advanced driver assistance systems (ADAS) and autonomous driving.
- The increasing demand for voice recognition software from the healthcare sector to improve patient care and safety.
- The growing demand for voice recognition software in the consumer electronics sector, especially smart TVs, smartphones, and home assistants.
- The increasing use of voice recognition software by businesses to improve customer service and employee productivity.
- Advances in artificial intelligence (AI) that are making speech recognition more accurate and efficient, which is helping to drive market growth
Scope Of The Report
Report Attributes
Report Details
Report Title
Automatic Voice & Speech Recognition Software Market Research Report
By Type
Consulting, Support & Maintenance, Integration & Implementation
By Application
K -12, Colleges/Universities
By Companies
Oracle Corporation, Shikapa, Blockcerts, APPII, ODEM, Sony Global Education, Blockchain Education Network, Disciplina, Salesforce, SAP, Bitdegree, Parchment, Credly
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
244
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Automatic Voice & Speech Recognition Software Market Report Segments:
The global Automatic Voice & Speech Recognition Software market is segmented on the basis of:
Types
Consulting, Support & Maintenance, Integration & Implementation
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
K -12, Colleges/Universities
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Oracle Corporation
- Shikapa
- Blockcerts
- APPII
- ODEM
- Sony Global Education
- Blockchain Education Network
- Disciplina
- Salesforce
- SAP
- Bitdegree
- Parchment
- Credly
Highlights of The Automatic Voice & Speech Recognition Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Consulting
- Support & Maintenance
- Integration & Implementation
- By Application:
- K -12
- Colleges/Universities
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Automatic Voice & Speech Recognition Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Automatic voice & speech recognition software is a type of software that can be used to recognize the spoken words and phrases in audio files. This type of software can be used to identify the speaker, the topic of conversation, and other information about the audio file.
Some of the major companies in the automatic voice & speech recognition software market are Oracle Corporation, Shikapa, Blockcerts, APPII, ODEM, Sony Global Education, Blockchain Education Network, Disciplina, Salesforce, SAP, Bitdegree, Parchment, Credly.
The automatic voice & speech recognition software market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automatic Voice & Speech Recognition Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Automatic Voice & Speech Recognition Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automatic Voice & Speech Recognition Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Automatic Voice & Speech Recognition Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Automatic Voice & Speech Recognition Software Market Size & Forecast, 2020-2028
4.5.1 Automatic Voice & Speech Recognition Software Market Size and Y-o-Y Growth
4.5.2 Automatic Voice & Speech Recognition Software Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Consulting
5.2.2 Support & Maintenance
5.2.3 Integration & Implementation
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 K -12
6.2.2 Colleges/Universities
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automatic Voice & Speech Recognition Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automatic Voice & Speech Recognition Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Consulting
9.6.2 Support & Maintenance
9.6.3 Integration & Implementation
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 K -12
9.10.2 Colleges/Universities
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Consulting
10.6.2 Support & Maintenance
10.6.3 Integration & Implementation
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 K -12
10.10.2 Colleges/Universities
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Consulting
11.6.2 Support & Maintenance
11.6.3 Integration & Implementation
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 K -12
11.10.2 Colleges/Universities
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Consulting
12.6.2 Support & Maintenance
12.6.3 Integration & Implementation
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 K -12
12.10.2 Colleges/Universities
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Consulting
13.6.2 Support & Maintenance
13.6.3 Integration & Implementation
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 K -12
13.10.2 Colleges/Universities
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automatic Voice & Speech Recognition Software Market: Competitive Dashboard
14.2 Global Automatic Voice & Speech Recognition Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Oracle Corporation
14.3.2 Shikapa
14.3.3 Blockcerts
14.3.4 APPII
14.3.5 ODEM
14.3.6 Sony Global Education
14.3.7 Blockchain Education Network
14.3.8 Disciplina
14.3.9 Salesforce
14.3.10 SAP
14.3.11 Bitdegree
14.3.12 Parchment
14.3.13 Credly
