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SPi World News 10:53:07 GMT Friday 26th April 2019

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Latest News

Global Voice and Speech Recognition Market to 2025: Focus on Integrating AI with Voice and Speech Recognition Software to Build Superior Products

Research and Markets via Globe Newswire 10:53 GMT Friday 26th April 2019

Dublin, April 26, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering. The global speech and voice recognition market size is estimated to reach USD 31.82 billion by 2025, exhibiting a CAGR of 17.2% during the forecast period. Demand for voice activated systems, voice-enabled devices, and voice-enabled virtual assistant systems is slated to increase over the coming years owing to rising applications in the banking and automobile sectors. Soaring need to counter fraudulent activities and enhance security in the banking sector is accelerating the adoption of voice biometrics for the authentication of users.The automobile sector is expected to gain momentum in the near future owing to advancements in technology and emergence of innovative concepts such as autonomous and connected cars. Increasing integration of voice-activated software in next generation cars is likely to stoke the growth of the market during the forecast period.Voice recognition is a...

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