Credence Research, the leading business intelligence provider, has published its latest research, “Voice Recognition Market 2026″, which gives insights into Voice Recognition in the Global market. The report determines the market size for 2018, along with forecasts until 2026. It is built using data and information sourced from exclusive databases, primary and secondary research, and in-house analysis carried out by Credence Research’s team of industry experts.
Voice recognition systems are security solutions used to either grant or deny access to individuals by identifying and matching their voice pattern. The banking and finance sector has been increasingly deploying biometric security solutions for improving security and customer experience. On the other hand, government agencies and enterprises across the globe are adopting biometric technologies for thwarting security threats. Rising incidences of fraudulent activities in various sectors and increased adoption of mobile banking, especially among e-commerce retailers are collectively expected to drive the voice recognition market worldwide.
The global voice recognition market is likely to achieve great heights in the coming years due to the advancements in technology and the resulting shift towards automated and smart solutions. Rapid progressions in technology have led to development and growing usage of voice recognition technology for multiple applications. The technology is used across various end-use verticals including healthcare, consumer, BFSI, and automobile among others. Additionally, multitude of research in the field of internet of things (IoT) and artificial intelligence (AI) is further supporting the market growth. However, lack of accuracy, especially in noisy and severe environments, inability to recognize voice in regional accent, and high costs associated with the AI based systems are some of the factors challenging the growth of the voice recognition market.
Some of the major and established players identified in the global voice recognition market include Nuance Communications, Advanced Voice Recognition Systems, Microsoft Inc., Apple, Inc., MMODAL Inc., Sensor, Inc., Biotrust, Agnitio SL, ValidSoft UK Ltd., VoiceBox Technologies Corp., Raytheon BBN Technologies, M2Sys LLC, and LumenVox LLC among others.
[Browse full report: “Voice Recognition Market Size”]
- The report presents the brief overview of Voice Recognition Market including business description, key information and facts, and its locations and subsidiaries
- The report features product description and descriptive mechanism of action for key products along with the products developmental history and major milestones
- Special feature on out-licensed and partnered product portfolio
- The report summarizes all the dormant and discontinued projects
- Latest company statement
- Latest news and deals relating to the Voice Recognition products
The following research methods were used in this report:
- Desk study
- A questionnaire survey among specialty retail chains
- Analyzing statistical data released by the Federal Customs Service
- Desk study sources include materials taken from print and online media conference materials.
Reasons to Buy
- The report provides information about technology solutions needed for the implementation of Voice Recognition projects, and allows readers to make effective business decisions
- The report helps readers to strengthen strategic framework by understanding the business benefits to be achieved through Voice Recognition solutions
- The report highlights projected investment on Voice Recognition over the next two years. This will help organizations to allocate budget towards Voice Recognition implementation and business expansion
- The report helps executives plan their adoption of Voice Recognition by providing expected timeframes for implementation
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