Global Automatic Speech Recognition ASR Software Market to reach USD XX billion by 2025.
Global Automatic Speech Recognition ASR Software Market valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2018-2025. The Automatic Speech Recognition ASR Software Market is continuously growing in the global scenario at a rapid pace. Automatic Speech Recognition is the technology that allows human beings to use their voices to speak with a computer interface in a way that, in its most sophisticated variations, resembles normal human conversation. The two main types of Automatic Speech Recognition software variants are directed dialogue conversations and natural language conversations. Increasing use of consumer electronics devices such as smart phones in which voice assistance like Siri are used to assist consumers in their day to day tasks is one of the major driver for the market.
Additionally, increasing adoption in automobiles and rise in demand for biometric passwords in order to provide security to individuals’ account are the substantial drivers of the market across the globe. Moreover, rising research & development activities to improve accuracy is likely to creating numerous opportunity in the near future. Further, properties of Automatic Speech Recognition ASR Software such as it is great choice for the people with handicaps, it makes work easier & quicker and so on. Therefore, these benefits are also rising demand of Automatic Speech Recognition ASR Software among its users. However, issues with ASR software to understand the complexities of the jargon and high cost associated with this technology are the restraining factors of Automatic Speech Recognition ASR Software market during the forecast period.
The regional analysis of Global Automatic Speech Recognition ASR Software Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to growing emphasis on development of AI-based technologies in the region. Europe is estimated to grow at higher rate in the global Automatic Speech Recognition ASR Software market over the upcoming years owing to high adoption of voice and speech recognition systems in the region. Further, Asia-Pacific is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 due to increasing utilization of smartphones in the emerging regions such as China and India.
The major market player included in this report are:
● Brainasoft
● Nuance
● LilySpeech
● Smart Action Company
● Lyrix
● Go Transcribe
● Protokol
● NeoSpeech
● Entrada
● Castel Communications
● Crescendo Systems
● Openstream
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
By Type:
● Recognition Software for PCs and Macs
● Recognition Software for Phones and Tablets
● Recognition Software for Automobile
By Application:
● In-car Systems
● Healthcare
● Military
● Telephone
● Others
By Regions:
● North America
● U.S.
● Canada
● Europe
● UK
● Germany
● Asia Pacific
● China
● India
● Japan
● Latin America
● Brazil
● Mexico
● Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Automatic Speech Recognition ASR Software Market in Market Study:
● Key Consulting Companies & Advisors
● Large, medium-sized, and small enterprises
● Venture capitalists
● Value-Added Resellers VARs
● Third-party knowledge providers
● Investment bankers
● Investors
Customizations available
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