Speech recognition technology uses devices like smartphones, computers, and even automobile audio systems as built-in microphones, etc to capture the language or voice for providing certain action or translate it into the text. This technology is useful in voice search, commanding controlling and documentation. Smart assistants like Amazon Alexa and Google Home are in high demand. However, some cyber theft-related issues might hamper the global speech recognition market.
- Growing Lifestyle of People in the Developing Economies
- Increasing Demand for User-Friendly Features in Vehicles for Safety
- Increasing Consumer Acceptance for Speech Recognition System
- Growing use of Speech Recognition Technology for Authentication and Identification in Organisations
- Risk of Data Theft and Other Cyber Privacy Related Issues
- Privacy Related Regulations Associated with Speech Recognition Technology
The key Players profiled in the report are Nuance (United States), Microsoft (United States), VoiceVault Inc. (United States), Voicebox Technologies (United States), FindBiometrics (United States), LumenVox (United States), Raytheon Company (United States), Sensory Inc. (United States) and Speech FX (United States).