North America Voice And Speech Recognition Market Size & Outlook
North America voice and speech recognition market, 2018-2030 (US$M)
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North America voice and speech recognition market highlights
- The North America voice and speech recognition market generated a revenue of USD 6,234.8 million in 2023.
- The market is expected to grow at a CAGR of 10.2% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 6,234.8 million |
| Market revenue in 2030 | USD 12,293.7 million |
| Growth rate | 10.2% (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, North America region accounted for 30.8% 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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North America 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 57.11% in 2023. Horizon Databook has segmented the North America voice and speech recognition market based on voice recognition, speech recognition covering the revenue growth of each sub-segment from 2018 to 2030.
The growing adoption of voice-enabled applications in smartphones and rising voice and speech recognition in consumer electronics, mobile banking, and IoT devices are expected to drive the demand in the North American region.
For instance, in April 2020, Apple Inc. acquired an Irelandbased tech start-up Voysis, to improve the natural language processing of Siri for specific geographies with dialects. This acquisition is anticipated to offer improved voice recognition in Apple’s devices through its voice assistant Siri.
As there is a presence of significant vendors, Raytheon BBN Technologies, AT&T, and technologically advanced countries like Canada and the U.S. would propel the speech and voice recognition market growth in North America.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America voice and speech recognition market , including forecasts for subscribers. This continent databook contains high-level insights into North America voice and speech recognition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America voice and speech recognition market size, by country, 2018-2030 (US$M)
North America Voice And Speech Recognition Market Outlook Share, 2023 & 2030 (US$M)
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