Global Voice And Speech Recognition Market Size & Outlook
Global voice and speech recognition market, 2018-2030 (US$M)
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Global voice and speech recognition market highlights
- The global voice and speech recognition market generated a revenue of USD 20,257.3 million in 2023 and is expected to reach USD 53,668.7 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 14.9% by 2030.
- In terms of segment, speech recognition accounted for a revenue of USD 13,100.3 million in 2023.
- Voice Recognition is the most lucrative function segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 20,257.3 million |
| Market revenue in 2030 | USD 53,668.7 million |
| Growth rate | 14.9% (CAGR from 2023 to 2030) |
| Largest segment | Speech recognition |
| Fastest growing segment | Voice Recognition |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Voice Recognition, Speech Recognition |
Other key industry trends
- In terms of revenue, the North America accounted for 30.8% of the global voice and speech recognition market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 8,020.6 million by 2030.
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Voice And Speech Recognition Market Scope
Voice And Speech Recognition Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global voice and speech recognition market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to voice and speech recognition market will help companies and investors design strategic landscapes.
speech recognition was the largest segment with a revenue share of 64.67% in 2023. Horizon Databook has segmented the Global voice and speech recognition market based on voice recognition, speech recognition covering the revenue growth of each sub-segment from 2018 to 2030.
Voice has emerged as a viable authentication method because the voice is a unique characteristic of an individual, just like fingerprints or iris. What sets voice apart as a preferred authentication method for online transactions is its ability to partner with the telephone to deliver remarkably accurate remote authentication.
Banking institutions are introducing voice biometric systems as core credentials for customer login. For instance, Atom Bank PLC (U.K.) uses ConfidentID, a mobile user voice biometrics based authentication service powered by Doan's IdentityX platform. The software is already in use worldwide at airports and international border controls.
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Our clientele includes a mix of voice and speech recognition market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of global-level data and insights on the Global voice and speech recognition market , including forecasts for subscribers. This global databook contains high-level insights into Global voice and speech recognition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global voice and speech recognition market statistics, by region, 2018-2030 (US$M)
Top 10 countries: Voice and speech recognition market size, 2023 (USD Million)
Top 10 countries: Voice and speech recognition market size, 2023 (USD Million)
Global voice and speech recognition market, by region, 2023 (US$M)
Related regional statistics
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