Asia Pacific Voice And Speech Recognition Market Size & Outlook
Asia Pacific voice and speech recognition market, 2018-2030 (US$M)
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Asia Pacific voice and speech recognition market highlights
- The Asia Pacific voice and speech recognition market generated a revenue of USD 5,015.3 million in 2023.
- The market is expected to grow at a CAGR of 18.7% from 2024 to 2030.
- In terms of segment, speech recognition was the largest revenue generating function in 2023.
- Voice Recognition is the most lucrative function segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 5,015.3 million |
| Market revenue in 2030 | USD 16,614.0 million |
| Growth rate | 18.7% (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 |
| Key market players worldwide | Advanced Voice Recognition Systems Inc, Amazon.com Inc, APi Group Corp, Apple Inc, Baidu Inc ADR, BrightView Holdings Inc, Meta Platforms Inc Class A, Alphabet Inc Class A, International Business Machines Corp, Microsoft Corp, 3M Co, Nuance Communications, RTX Corp, Medlst MBS Ttl Rtn A |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 24.8% of the global voice and speech recognition market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 16,614.0 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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Asia Pacific 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 63.22% in 2023. Horizon Databook has segmented the Asia Pacific voice and speech recognition market based on voice recognition, speech recognition covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for voice and speech recognition is rising in China, Japan, and Singapore, which is expected to fuel the growth of the Asia Pacific Market. The increasing investment in voice recognition companies is expected to bolster the growth of the region's market.
For instance, in July 2019, iFLYTEK Corporation, a state-owned Chinese software company, raised USD 407 million from several provincial government funds and a state-backed industry fund. The company would use the funding for research purposes in open platforms for intelligent speech and cognitive technology.
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Target buyers of Asia Pacific voice and speech recognition market databook
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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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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific voice and speech recognition market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific voice and speech recognition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific voice and speech recognition market size, by country, 2018-2030 (US$M)
Asia Pacific Voice And Speech Recognition Market Outlook Share, 2023 & 2030 (US$M)
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