Speech Recognition Global Market Estimated To Perceive Accrued Value With A Staggering CAGR; MRFR Unleashes Industry Insights Up To 2022

Pune, India, December, 2017/MRFR Press Release/- Market Research Future published a Half Cooked research report on “Global Speech Recognition Market Research Report - Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022Speech Recognition Global Market - OverviewThe Global Speech Recognition Market is growing with the rapid pace mainly due to the rising adoption of advanced smart devices which is widely used among users. According to a recent study report published by the Market Research Future, The global market of Speech Recognition is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022). The Global Speech Recognition Market is driven by the growing usage of smartphones and apps, growing technology addiction for improving lifestyle, and others. Furthermore, alternative to typing on a small screen such as mobile phones is also boosting the market growth of speech recognition to the large extent. On the other hand, internet network connectivity and technology limitation are some of the factors hindering the growth of Speech Recognition Market. The Speech Recognition market is highly competitive due to the increase in adoption of biometric security in banking and finance sector.Emerging innovations in cloud and smart phones in the IT industry are prompting the advancements in technology. These speech recognition enable command-and-control through voice, transcribe audio files, and others. It converts voice into text and analyse all voice call. The real-time speech recognition are widely used among users. The Wifi enables speech recognition will detect voice using free, open data and code. The open-sourced voice interface tools are used to improve voice product effectiveness. The deployment of the cloud and embedded on-device are propelling the market growth of speech recognition. Furthermore, the deep neural network provides high accuracy levels in recognizing the real time speech. The companies are investing in automatic language-building framework with the ability to develop new languages at a rapid rate.Key Players:Nuance Communications, Inc. (U.S), Microsoft Corporation (U.S), Agnitio SL (Spain), VoiceVault (U.S.), VoiceBox Technologies Corp. (U.S), Google Inc. (U.S), LumenVox LLC.(U.S), Raytheon BBN Technologies (U.S), Advanced Voice Recognition Systems (U.S.), Sensory, Inc. (U.S) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Speech Recognition Market. Industry News March 10, 2016 - Nuance Communications, Inc. has developed Individual speech recognition software which offers the professional productivity solutions to the users. These software are embedded with cloud-based solutions and professional-grade mobile dictation service for iOS and Android smartphones and tablets. These software are used for users to speed up the document completion and focus on higher-value tasks.September 7, 2016 – Imprivata had announced to support Nuance Communications in clinical speech recognition. With the help of Dragon Medical embedded in Imprivata Cortext, the company is providing service to the healthcare with high speed input, high context patient care communications and others.Oct 20, 2016 - Microsoft Corporations had revealed its new products which is voice and speech recognition system that can transcribed an audio clip into a script. These solution helps in Better employee management, ability to convert speech to text and vice-versa, and create more diverse range of smart and intelligent products.October 18, 2016- Microsoft Corporations has come up with speech recognition technologies that can easily grasp a human conversation. With the help of Artificial Intelligence, the company has developed the software which has the ability to recognize words.Speech Recognition Global Market - Competitive Analysis The Market of Speech Recognition appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms. Prominent vendors of Speech Recognition targeting to invest more in technology and research and development activities to innovate their already existing products. The rising government funding is also expected to motivate key companies to invent new Speech Recognition modules that match the changing trends and needs across the globe. These players possess state of art R&D labs and strong sales and distribution network which have helped them to gain leadership position in the market. An ever-increasing emphasis has been observed among Speech Recognition Equipment industry marketers on inbound lead generation over branding-oriented efforts. Speech Recognition Global Market - Segmentation The Speech Recognition Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding; Segmentation By Types : Comprises M Speaker Dependent and Speaker Independent.Segmentation By Technology : Comprises AI based and Non-AI based among others.Segmentation By Verticals : Comprises Military, Automotive, Healthcare, Consumer, Finance, Media & Entertainment, and Government among others.Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.Speech Recognition Global Market -

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