Market revenue in 2023 | USD 2,393.5 million |
Market revenue in 2030 | USD 6,796.2 million |
Growth rate | 16.1% (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 |
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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 79.8% in 2023. Horizon Databook has segmented the Middle East & Africa voice and speech recognition market based on voice recognition, speech recognition covering the revenue growth of each sub-segment from 2018 to 2030.
In terms of revenue, Israel is estimated to account for the largest share of total revenue in the Middle East and Africa and is expected to grow with a steady CAGR during the forecast period. UAE is projected to expand with highest growth rate of 17.2% during the forecast period.
Companies in Saudi Arabia are developing text-to-speech technology in regional language and accent which is fueling the market growth in MEA. Industries like healthcare, banking, and manufacturing are using voice and speech recognition technologies to ease their work process.
Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa voice and speech recognition market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa voice and speech recognition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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