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Global Speech Technology Market (2022 to 2027) - Growing Number of Voice Control-Based Smart Assistive Devices Present Opportunities
Global Speech Technology Market
Dublin, Nov. 03, 2022 (GLOBE NEWSWIRE) -- The "Global Speech Technology Market (2022-2027) by Functions, Delivery Methods, Deployment, Verticals, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Speech Technology Market is estimated to be USD 17.33 Bn in 2022 and is expected to reach USD 44.47 Bn by 2027, growing at a CAGR of 20.74%.
Market Dynamics
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing risks.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Acapela Group, Amazon Web Services, Inc., Anki, Apple Inc., Baidu, Inc., Google LLC, iFlytek, IBM Corp., Qualcomm Technologies, Inc., Quantiphi, Inc., Raytheon BBN Technologies, Sensory Inc., Siemens AG, etc.
Countries Studied
America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Speech Technology Market. Ansoff Matrix, also known as the Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Speech Technology Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
The report offers a comprehensive evaluation of the Global Speech Technology Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Drivers
4.1.1 Increasing Demand for Speech-Based Biometric Systems for Multifactor Authentication
4.1.2 Rising Healthcare, Mobile Banking, and Smart Home Automation Applications
4.1.3 Potential Impact of AI on Accuracy of Speech and Voice Recognition
4.2 Restraints
4.2.1 Associated High Cost for Implementation of Speech Technology System
4.2.2 Lack of Accuracy in Harsh Environments
4.3 Opportunities
4.3.1 Growing Number of Voice Control-Based Smart Assistive Devices
4.3.2 Potential Development of Speech Technology System for Micro-Linguistics and Local Languages
4.4 Challenges
4.4.1 Standardized Platform for Developing Customized Speech Recognition Systems
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
5.5 PESTLE Analysis
6 Global Speech Technology Market, By Functions
6.1 Introduction
6.2 Interactive Voice Response (IVR)
6.3 Real-time Speech to Text Conversion
6.4 Speech Analytics
6.5 Speech Recognition
6.6 Speech Synthesis
6.7 Speech Verification
7 Global Speech Technology Market, By Delivery Methods
7.1 Introduction
7.2 Artificial Intelligence Based
7.3 Non-Artificial Intelligence Based
8 Global Speech Technology Market, By Deployment
8.1 Introduction
8.2 On-Cloud
8.3 On-Premise
9 Global Speech Technology Market, By Verticals
9.1 Introduction
9.2 Aerospace & Defence Security
9.3 Automotive
9.4 Government & Public Sector
9.5 Healthcare & Life Science
9.6 IT & Telecommunication
9.7 Personal Assistance
9.8 Retail
10 Americas' Speech Technology Market
10.1 Introduction
10.2 Argentina
10.3 Brazil
10.4 Canada
10.5 Chile
10.6 Colombia
10.7 Mexico
10.8 Peru
10.9 United States
10.10 Rest of Americas
11 Europe's Speech Technology Market
11.1 Introduction
11.2 Austria
11.3 Belgium
11.4 Denmark
11.5 Finland
11.6 France
11.7 Germany
11.8 Italy
11.9 Netherlands
11.10 Norway
11.11 Poland
11.12 Russia
11.13 Spain
11.14 Sweden
11.15 Switzerland
11.16 United Kingdom
11.17 Rest of Europe
12 Middle East and Africa's Speech Technology Market
12.1 Introduction
12.2 Egypt
12.3 Israel
12.4 Qatar
12.5 Saudi Arabia
12.6 South Africa
12.7 United Arab Emirates
12.8 Rest of MEA
13 APAC's Speech Technology Market
13.1 Introduction
13.2 Australia
13.3 Bangladesh
13.4 China
13.5 India
13.6 Indonesia
13.7 Japan
13.8 Malaysia
13.9 Philippines
13.10 Singapore
13.11 South Korea
13.12 Sri Lanka
13.13 Thailand
13.14 Taiwan
13.15 Rest of Asia-Pacific
14 Competitive Landscape
14.1 IGR Competitive Quadrant
14.2 Market Share Analysis
14.3 Strategic Initiatives
14.3.1 M&A and Investments
14.3.2 Partnerships and Collaborations
14.3.3 Product Developments and Improvements
15 Company Profiles
15.1 Acapela Group
15.2 Amazon Web Services, Inc.
15.3 Anki
15.4 Apple Inc.
15.5 Baidu, Inc.
15.6 Google LLC
15.7 iFlytek
15.8 IBM Corp.
15.9 LumenVox
15.10 Meta Platforms, Inc.
15.11 Microsoft Corp.
15.12 Nuance Communications, Inc.
15.13 Qualcomm Technologies, Inc.
15.14 Quantiphi, Inc.
15.15 Raytheon BBN Technologies
15.16 Sensory Inc.
15.17 Siemens AG
15.18 Speak2Web
15.19 Speechmatics (Cantab Research Ltd.)
15.20 Uniphore Software
15.21 Validsoft
15.22 Voicevault Inc.
16 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/tksuj
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