The growing impact of artificial intelligence (AI) on the accuracy of speech and voice recognition and also the inflated demand for multifactor authentication are driving the market growth. However, oligopoly within the development of speech and voice recognition technology using neural networks could be a restraint for this market.
How Big is The Global Artificial Voice Box Market?
The global Artificial Voice Box Market is expected to be around US$ 29.40 Billion by 2025 at a CAGR of 19% in the given forecast period.
The major driving factors of Global Artificial Voice Box Market are as follows:
Increased demand for speech-based biometric systems for multifactor authentication
Growing demand for voice authentication in mobile banking applications
Growing impact of artificial intelligence (AI) on the accuracy of speech and voice recognition
Growth in voice control-based smart assistive devices in consumer and enterprise vertical
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The restraining factors of Global Artificial Voice Box Market are as follows:
Lack of accuracy in speech and voice recognition systems in noisy and harsh working environments
Oligopoly in the development of speech and voice recognition technology using neural networks restricting its usage for cloud-based services
The opportunities factors of Global Artificial Voice Box Market are as follows:
Development of speech and voice recognition software for micro-linguistics and local languages
Application of speech and voice recognition in service robotics
The challenges factors of Global Artificial Voice Box Market are as follows:
The possibility of increased errors with change in quality of voice samples due to fluctuations in the physical or physiological state
Lack of standardized platform for the development of customized speech and voice recognition software products
The Global Artificial Voice Box Market is segmented on the lines of its delivery methods, technology, verticals and regional. Based on delivery methods type segmentation it covers (Artificial Intelligence based and Non Artificial Intelligence based); based on technology range it covers (Speech recognition and voice recognition); based on verticals it Covers (Automotive, Enterprise, Consumer, Banking, Government, Healthcare, Education and Other). The Global Artificial Voice Box Market on geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geographic market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.
This report provides:
1) An overview of the Global market for Artificial Voice Box and related technologies.
2) Analyses of Global market trends, with data from 2016, estimates for 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2025.
3) Identifications of new market opportunities and targeted promotional plans for Global Artificial Voice Box Market.
4) Discussion of research and development, and the demand for new products and new applications.
5) Comprehensive company profiles of major players in the industry.
Report Scope:
The scope of the report includes a detailed study of Global Artificial Voice Box Market with the reasons given for variations in the growth of the industry in certain regions.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the Global market. Key players profiled in the report NUANCE COMMUNICATIONS, INC, MICROSOFT CORPORATION, ALPHABET INC, SENSORY INC, CANTAB RESEARCH LIMITED, READSPEAKER HOLDING B.V, PARETEUM CORPORATION, IFLYTEK CO., LTD, VOICEVAULT INC, VOICEBOX TECHNOLOGIES CORP, LUMENVOX, LLC, ACAPELA GROUP SA, VOCALZOOM LTD, BIOTRUST ID B.V and UNIPHORE SOFTWARE SOLUTIONS PVT. LTD. Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.
The Top Companies Report is intended to provide our buyers with a snapshot of the industry’s most influential players.
The Global Artificial Voice Box Market has been segmented as below:
By Delivery Methods
Artificial Intelligence based
Non Artificial Intelligence based
By Technology Type
Voice recognition
Speech recognition
By Verticals Type
Education
Automotive
Government
Consumer
Banking
Healthcare
Enterprise
Other
By Regional Analysis
North America
Europe
Asia-Pacific
Rest of the World
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