Thursday, 28 October 2021 04:55 GMT

Worldwide Speech Technology Industry to 2026 - Potential Development of Speech Technology Systems for Micro-Linguistics and Local Languages Presents Opportunities

(MENAFN- PR Newswire) DUBLIN, Sept. 13, 2021 /PRNewswire/ -- The "Speech Technology Market Research Report by Function, by Application, by Delivery Method, by Region - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to's offering.

The Global Speech Technology Market size was estimated at USD 11.66 Billion in 2020 and expected to reach USD 13.92 Billion in 2021, at a Compound Annual Growth Rate (CAGR) 19.76% to reach USD 34.41 Billion by 2026. Market Statistics:

The report provides market sizing and forecast across five major currencies - USD, EUR GBP, JPY, and AUD. It helps organization leaders make better decisions when currency exchange data is readily available. In this report, the years 2018 and 2019 are considered historical years, 2020 as the base year, 2021 as the estimated year, and years from 2022 to 2026 are considered the forecast period.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period. FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Speech Technology Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape. Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits. Company Usability Profiles:

The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Speech Technology Market, including Acapela Group, AIBrain, Alphabet, Amazon Web Services, Anki, Apple, Baidu, Biotrust Id, Cantab Research, Facebook, Iflytek, Lumenvox, M2sys, Microsoft, Mmodal, Nuance Communication, Quantiphi, Inc., Raytheon BBN Technologies, Sensory, Siemens, Speak2Web, Uniphore Software, Validsoft, Vocalzoom, and Voicevault. The report provides insights on the following pointers: 1. Market Penetration: Provides comprehensive information on the market offered by the key players2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players5. Product Development & Innovation: Provides intelligent insights on future technologies, R & D activities, and breakthrough product developments The report answers questions such as: 1. What is the market size and forecast of the Global Speech Technology Market?2. What are the inhibiting factors and impact of COVID-19 shaping the Global Speech Technology Market during the forecast period?3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Speech Technology Market?4. What is the competitive strategic window for opportunities in the Global Speech Technology Market?5. What are the technology trends and regulatory frameworks in the Global Speech Technology Market?6. What is the market share of the leading vendors in the Global Speech Technology Market?7. What modes and strategic moves are considered suitable for entering the Global Speech Technology Market? Key Topics Covered: 1. Preface 2. Research Methodology 3. Executive Summary 4. Market Overview 4.1. Introduction4.2. Cumulative Impact of COVID-19 5. Market Insights 5.1. Market Dynamics5.1.1. Drivers5.1.1.1. Rapid penetration of multifunctional and smart voice enabled IoT devices5.1.1.2. Growing healthcare, mobile banking, and smart home automation applications5.1.1.3. Increased demand for speech-based biometric systems for multifactor authentication5.1.1.4. Potential impact of AI on accuracy of speech and voice recognition5.1.2. Restraints5.1.2.1. Associated high cost for implementation of speech technology system5.1.2.2. Potential parameters such as noise and uncertain environment affecting accuracy of speech recognition system5.1.3. Opportunities5.1.3.1. Growing number of voice control-based smart assistive devices in enterprise verticals for the consumers5.1.3.2. Potential development of speech technology system for micro-linguistics and local languages5.1.3.3. Growing demand in autonomous cars, service robotics and education sector for disabled students5.1.4. Challenges5.1.4.1. Standardized platform for developing customized speech recognition systems5.1.4.2. Geographies with low internet penetration rate5.2. Porters Five Forces Analysis5.2.1. Threat of New Entrants5.2.2. Threat of Substitutes5.2.3. Bargaining Power of Customers5.2.4. Bargaining Power of Suppliers5.2.5. Industry Rivalry 6. Speech Technology Market, by Function 6.1. Introduction6.2. Interactive Voice Response (IVR)6.3. Real-time Speech to Text Conversion6.4. Speech Analytics6.5. Speech Recognition6.6. Speech Synthesis6.7. Speech Verification 7. Speech Technology Market, by Deployment 7.1. Introduction7.2. On-Cloud7.3. On-Premise 8. Speech Technology Market, by Application 8.1. Introduction8.2. Aerospace & Defence Security8.3. Government & Public Sector8.4. Healthcare & Life Sciences8.5. IT & telecommunicataion8.6. Personal Assistance8.7. Retail8.8. Automotive 9. Speech Technology Market, by Delivery Method 9.1. Introduction9.2. Artificial Intelligence Based9.3. Non-Artificial Intelligence Based 10. Americas Speech Technology Market 10.1. Introduction10.2. Argentina10.3. Brazil10.4. Canada10.5. Mexico10.6. United States 11. Asia-Pacific Speech Technology Market 11.1. Introduction11.2. Australia11.3. China11.4. India11.5. Indonesia11.6. Japan11.7. Malaysia11.8. Philippines11.9. Singapore11.10. South Korea11.11. Thailand 12. Europe, Middle East & Africa Speech Technology Market 12.1. Introduction12.2. France12.3. Germany12.4. Italy12.5. Netherlands12.6. Qatar12.7. Russia12.8. Saudi Arabia12.9. South Africa12.10. Spain12.11. United Arab Emirates12.12. United Kingdom 13. Competitive Landscape 13.1. FPNV Positioning Matrix13.1.1. Quadrants13.1.2. Business Strategy13.1.3. Product Satisfaction13.2. Market Ranking Analysis13.3. Market Share Analysis, By Key Player13.4. Competitive Scenario13.4.1. Merger & Acquisition13.4.2. Agreement, Collaboration, & Partnership13.4.3. New Product Launch & Enhancement13.4.4. Investment & Funding13.4.5. Award, Recognition, & Expansion 14. Company Usability Profiles 14.1. Acapela Group14.2. AIBrain14.3. Alphabet14.4. Amazon Web Services14.5. Anki14.6. Apple14.7. Baidu14.8. Biotrust Id14.9. Cantab Research14.10. Facebook14.11. Iflytek14.12. Lumenvox14.13. M2sys14.14. Microsoft14.15. Mmodal14.16. Nuance Communication14.17. Quantiphi, Inc.14.18. Raytheon BBN Technologies14.19. Sensory14.20. Siemens14.21. Speak2Web14.22. Uniphore Software14.23. Validsoft14.24. Vocalzoom14.25. Voicevault 15. Appendix

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