Global Voice Technology Market Research Report (2021-2026) – by Function, Application, Delivery Method, and Region – ResearchAndMarkets.com


DUBLIN – (COMMERCIAL THREAD)–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 was added to ResearchAndMarkets.com offer.

The global voice technologies market size was estimated at $ 11.66 billion in 2020 and is expected to reach $ 13.92 billion in 2021, at a compound annual growth rate (CAGR) of 19.76% to reach 34.41 billion USD by 2026.

Competitive strategic window:

The Competitive Strategy Window analyzes 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 suppliers to adopt successive strategies of merger and acquisition, geographic expansion, research and development, and new product introduction strategies to continue the expansion and growth of the business during a forecast period.

FPNV positioning matrix:

The FPNV Positioning Matrix assesses and categorizes vendors in the voice technology market based on business strategy (company growth, industry coverage, financial viability, and channel support) and product satisfaction (value to money, ease of use, product features and customer support) that helps businesses make better decisions and better understand the competitive landscape.

Market share analysis:

The market share analysis offers the analysis of the suppliers considering their contribution to the overall market. It provides the idea of ​​its revenue generation in the overall market compared to other space providers. It provides insight into the performance of vendors in terms of revenue generation and customer base compared to others. Knowing the market share gives an idea of ​​the size and competitiveness of the suppliers for the base year. It reveals the characteristics of the market in terms of traits of accumulation, fragmentation, dominance and fusion.

The report provides information on the following pointers:

1. Market penetration: provides comprehensive information on the market offered by the major players

2. Market Development: Provides detailed information on lucrative emerging markets and analyzes penetration into mature market segments.

3. Market diversification: provides detailed information on new product launches, untapped geographies, recent developments and investments

4. Competitive Assessment and Intelligence: Provides a comprehensive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape and manufacturing capabilities of key players

5. Product Development and Innovation: Provides intelligent information on future technologies, R&D activities and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast for the global voice technology market?

2. What are the inhibitory factors and impact of COVID-19 shaping the global voice technology market during the forecast period?

3. What are the products / segments / applications / areas to invest in during the forecast period in the global voice technologies market?

4. What is the competitive strategic window for opportunities in the global voice technology market?

5. What are the technological trends and regulatory frameworks in the global voice technology market?

6. What is the market share of the major vendors in the global voice technology market?

7. What strategic fashions and movements are considered appropriate for entering the global voice technologies market?

Market dynamics

Conductors

  • Rapid penetration of multifunctional and intelligent voice-activated IoT devices

  • Growing healthcare, mobile banking and smart home automation applications

  • Increased demand for speech-based biometric systems for multi-factor authentication

  • Potential impact of AI on speech accuracy and speech recognition

Constraints

  • High cost associated for implementing the voice technology system

  • Potential parameters such as noise and uncertain environment affecting the accuracy of the speech recognition system

Opportunities

  • Growing number of smart assistive devices based on voice control in business verticals for consumers

  • Potential development of a speech technology system for microlinguistics and local languages

  • Growing demand in self-driving cars, service robotics and the education sector for students with disabilities

Challenges

  • Standardized platform for the development of personalized speech recognition systems

  • Geographical areas with low internet penetration

Companies mentioned

  • 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

  • Voice zoom

  • Safe

For more information on this report, visit https://www.researchandmarkets.com/r/pbww9g


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