PRESS RELEASE
Published July 18, 2023
Global Artificial Intelligence Speech Recognition System Market (2023-2030) Latest Research Report. Industry research report evaluates different aspects of the industry, including drivers, barriers, opportunities, and threats, and offers an in-depth market assessment. It covers progress trends, competitive landscape analysis, and expansion status of key regions. The report provides numerical analysis of the industry and data for making strategies to increase market growth and success.
From 2023 to 2030, the market for artificial intelligence speech recognition systems is anticipated to expand at a CAGR of 17.5%. The popularity of voice-activated systems and devices is expanding, along with the demand for natural language processing (NLP) applications and the increased desire for automation across a variety of sectors. Computer software that can detect spoken words and convert them into text is known as an artificial intelligence speech recognition system. Artificial intelligence (AI) is used by these systems to analyze speech sound waves and recognize the appropriate words. Due to its precision, usability, and adaptability to a range of gadgets and applications, AI voice recognition systems are gaining popularity.
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Competition Dashboard: Vonage, Amazon, Google, Microsoft, Apple, Facebook, Intelligent Voice, Wuxi Fantai Technology Co., Ltd., Sensory, Spitch, Devsu, Nuance Communication, IBM Corporation, Agniio, Verint Systems, iFLYTEK, Baidu and others.
Voice-activated gadgets are getting more and more popular, such as the Amazon Echo and Google Home. Users may command these gadgets with their voices thanks to AI speech recognition system. Applications for NLP are used to decipher and comprehend human language. In a number of sectors, including healthcare, customer service, and finance, NLP applications are powered by AI voice recognition systems. The transcription of audio recordings, the creation of conference transcripts, and voice-activated device management are just a few of the activities that AI speech recognition systems are being utilized to automate.
Segment Assessment
The segment is observed to remain highly attractive over the approaching years. The rise in demand for Artificial Intelligence Speech Recognition System due to its effective microelectronics component can favor rise of the market in the near future. The Artificial Intelligence Speech Recognition System segment can gain a healthy momentum through the review period till 2030.
Artificial Intelligence Speech Recognition System Market segment by Type:
- Speech Recognition System
- Speech/Image Recognition System
Artificial Intelligence Speech Recognition System Market segment by Application:
- Office Building
- Shopping Mall
- Government
- Factory
- Other
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Geographic Segment Covered in the Artificial Intelligence Speech Recognition System Market Report:
The artificial intelligence speech recognition system industry has historically been dominated by North America. The area has a solid technological foundation and a high degree of awareness and acceptance of cutting-edge technology. The existence of significant technological corporations and their ongoing expenditures in R&D initiatives have fueled the market’s expansion in this area. However, Asia Pacific is anticipated to have significant growth throughout the projected period due to factors such as improving internet connection, increased smartphone penetration, and rising demand for voice-activated devices in nations like China and India.
Hybrid models that combine automated speech recognition (ASR) with natural language understanding (NLU) capabilities are a recent development in the industry. By combining the benefits of ASR and NLU technology, these hybrid models offer increased accuracy. Additionally, there is a rising interest in creating speech recognition systems that can comprehend a variety of languages and accents in order to serve a worldwide user base. These breakthroughs have been made possible by improvements in deep learning techniques and the accessibility of large-scale datasets.
Table of contents:
1 Study Coverage
1.1 Artificial Intelligence Speech Recognition System Product Introduction
1.2 Market by Type
1.3 Market by Application
1.4 Study Objectives
1.5 Years Considered
2 Global Artificial Intelligence Speech Recognition System Production
2.1 Global Production Capacity (2023-2030)
2.2 Global Production by Region: 2023 VS 2030
2.3 Global Artificial Intelligence Speech Recognition System Production by Region
3 Global Artificial Intelligence Speech Recognition System Sales in Volume and Value Estimates and Forecasts
3.1 Global Sales Estimates and Forecasts 2023-2030
3.2 Global Revenue Estimates and Forecasts 2023-2030
3.3 Global Revenue by Region: 2023 VS 2030
3.4 Global Sales by Region
3.5 Global Revenue by Region
Continue….
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