Tractica researchers forecast the global market for voice and speech recognition software will increase from $1.1 billion in 2017 to $6.9 billion by 2025. The firm anticipates that the leading use cases for the technology during that period will include healthcare (clinical documentation), automotive virtual digital assistants (VDAs), and voice commerce and customer service applications. Additional use cases will include smart home controls, security and authentication, and voice search, among others.
Tractica’s report, “Voice and Speech Recognition”, analyzes the global market opportunity for speech recognition and voice recognition software during the period from 2016 through 2025. The report further examines use cases where spoken word is the input or output or both. The study identifies key market drivers and barriers, defines key use cases, assesses technology issues, and profiles key industry players. Market forecasts are provided for software revenue, segmented by use case and world region. An Executive Summary of the report is available for free download. For more information, visit Tractica and/or call 303-248-3000.