Weather , , 0°C

U.S. Voice Recognition Market 2019-2025: Technological advancements, Geographic growth analysis and Industry insights | Grand View Research, Inc.

 Breaking News
  • No posts were found

U.S. Voice Recognition Market 2019-2025: Technological advancements, Geographic growth analysis and Industry insights | Grand View Research, Inc.

August 05
11:31 2021
U.S. Voice Recognition Market 2019-2025: Technological advancements, Geographic growth analysis and Industry insights | Grand View Research, Inc.
“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, the market is anticipated to be driven by technological advancements and the escalating use of voice recognition in advanced computer-controlled electronic devices.

The U.S. voice recognition market demand is expected to reach 733.3 million units by 2025, registering a 16.5% CAGR from 2019 to 2025 according to a new study by Grand View Research, Inc. The growing demand for self-service applications such as voice-based biometric identification in the banking sector is anticipated to drive market growth in the near future. The increasing number of users of mobile banking applications for banking transactions is also expected to positively influence the growth of the U.S. market in the near future. An alarming rise in fraudulent banking activities in the U.S. is a major factor driving the adoption of high-end security measures, such as voice-based biometrics, in banking organizations.

The integration of the technology in automobiles is gaining popularity across the globe as numerous countries are developing stringent driving regulations such as banning the use of cell phones while driving vehicles. It is estimated that by 2020, more than 50% of the world’s cars would be equipped with in-car voice recognition systems with features such as placing a call or changing music using verbal commands. The trend is also likely to be strong in the U.S., thus driving the U.S. market for voice recognition.

In addition to this, voice commands help drivers keep their eyes on the road even when accessing applications such as car navigation or in-car infotainment system while driving. Whereas, speech destination entry helps drivers to follow the route correctly while keeping their eye on the road, manually entering data into a navigation system can result in significant safety risks. Owing to the rising demand globally, manufacturers of consumer devices are focusing on innovating their products by enabling verbal commands in them. This trend is expected to accelerate the growth of the U.S. voice recognition market over the forecast period.

U.S. Voice Recognition Market Report Highlights

 The automotive vertical accounted for a significant market share in the U.S. market for voice recognition in 2018 owing to rising popularity of in-car infotainment systems enabled by verbal commands. The technology is also being increasingly used in the automotive industry to improve verbal navigation systems, such as updating the car driver with traffic conditions on the route and also suggesting alternative routes

 The banking and financial vertical is expected to register the highest CAGR over the forecast period owing to the rising adoption of voice-based biometric authentication for performing banking transactions. Several financial institutes such as HSBC and Wells Fargo are in the process of enabling verbal command features in their banking applications

 Applications in the consumer vertical are gaining traction and the vertical is likely to witness promising growth prospects over the forecast period. Advanced security systems are increasingly being integrated with voice recognition technology to help the user give verbal commands for activities such as adjusting thermostats, turning on and turning off lights, and identifying residents and reporting intruders

 Some of the leading U.S. voice recognition solution providers are Advanced Voice Recognition System, Inc., Agnitio S.L. (subsidiary of Nuance Communications Inc.), Amazon.com, Inc., Apple Inc., and Baidu, Inc.

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/us-voice-recognition-market

U.S. Voice Recognition Market Segmentation

Grand View Research has segmented the U.S. voice recognition market on the basis of vertical:

Vertical Outlook (Volume, Million Units, 2014 – 2025)

     Automotive
     Enterprise
     Consumer
     Banking, Financial Services, & Insurance
    Government
     Government
     Retail
     Healthcare
     Military
     Legal
    Education
     Others

For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/us-voice-recognition-market/request/rs1

Browse More Related Report:

Voice and Speech Recognition Market Size, Share & Trends Analysis Report, By Function, By Technology (AI, Non-AI), By Vertical (Healthcare, BFSI, Automotive), And Segment Forecasts, 2018 – 2025

Voice And Speech Recognition Software Market Size, Share & Trends Analysis Report, By Function, By Technology (AI-based, Non-AI Based), By Vertical (Consumer, Automotive), And Segment Forecasts, 2019 – 2025

About Grand View Research                                 

Grand View Research is a market research and consulting company based in the State of California with headquarters in San Francisco. The company offers consulting services tailored for business organizations to assist them with understanding and exploring their potential on a large scale. At the same time, Grand View Research caters to the individual research needs to provide a customized research service.

Grand View Research is fully committed to offer the best research services in the Industry. Our dedicated team of experienced analysts offer full capability and potential to precisely understand your research needs.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/us-voice-recognition-market

Related Articles

Calendar

September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930  

Categories