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Voice Recognition Market Outlook to 2026 | Latest Trends, Market Strategy with Opportunities, Growth Overview and Technology Forecast

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Jan 13, 2021 (Market Insight Reports) —
Selbyville, Delaware, According to the research report titled ‘Voice Recognition Market Size By Deployment Model (On-Premise, Cloud-Based), By Technology (AI-Based, Non-AI Based), By End-Use (Aerospace, Automotive, BFSI, Consumer Electronics, Government & Defense, Healthcare), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global voice recognition market is predicted to expand considerably between 2020-2026.

Widespread adoption of voice biometrics technology coupled with high integration of AI technologies in the product are some of the major factors driving the growth of global voice recognition market. Strict regulatory outlook which promotes the use of secure authentication technologies across the healthcare sector is also aiding towards the overall market expansion.

Request a sample Report of Voice Recognition Market at:https://www.marketstudyreport.com/request-a-sample/3076863/?utm_source=Marketwatch.com/&utm_medium=SP

Focus towards preventing unauthorized access in IT facilities and increasing utilization of mobile payments which are integrated with voice recognition software are also stimulating the overall industry outlook. However, rising data security & privacy concerns and high deployment costs could act as a bottleneck to the growth of global voice recognition market.

Regardless, proliferating sales of consumer electronics in Asia-Pacific and increasing development of voice-enabled vehicle infotainment systems in the United States as well as in Europe are adding traction to the overall industry size.

In terms of deployment model, cloud-based segment of global voice recognition industry is expected to register significant growth during the estimated timeframe. Such systems offer various advantages such as high flexibility, reliability, and security as compared to its counterpart. In addition to this, mounting implementation of cloud-based systems owing to widespread adoption of IoT solutions is fueling the segmental share.

Moving on to technology type, the report states that AI-based segment is likely to amass notable gains for worldwide voice recognition industry in the upcoming years. Increasing popularity of such systems owing to their high accuracy are complementing the overall business dynamics.

Citing the end-user scope, global voice recognition market size from aerospace sector is expected to grow significantly during the study duration, primarily driven by escalating deployment of voice biometrics technologies.

Regionally, Middle East & Africa voice recognition industry is estimated to garner substantial revenues in the upcoming years. Factors such as growing demand for such systems across numerous industry verticals coupled with high integration of voice recognition systems in enterprises in order to prevent fraudulent activities are facilitating the business scenario in Middle East & Africa.

The prominent companies operating in global voice recognition market are VoicePIN, Vocalect Biometric Solutions LLC, Verint Systems Inc., Veridas, ValidSoft, Uniphore Software Systems Pvt. Ltd., Spitch, Pindrop Security Inc., Phonexia s.r.o., OneVault, Nuance Communications Inc., NEC Corporation, Mobvoi Information Technology Co. Ltd., Kaizen Secure Voiz, ID R&D Inc., Daon Inc., Aware Inc., Auraya Systems, Agnitio SL, and Aculab plc among others.

Question & Answer: Voice Recognition Market

Question 1: What factors are fostering the demand for voice recognition systems across the globe?

Answer: Strict regulatory outlook which promotes the use of secure authentication technologies across the healthcare sector, focus towards preventing unauthorized access in IT facilities and increasing utilization of mobile payments are impelling the worldwide demand for voice recognition systems.

Question 2: How will cloud-based deployment model emerge to be a major revenue generator for global voice recognition industry?

Answer: Mounting implementation of cloud-based systems owing to widespread adoption of IoT solutions is favoring the overall market scenario.

Question 3: Which companies are profiled in global voice recognition industry analysis?

Answer: The prominent companies operating in global voice recognition market are VoicePIN, Vocalect Biometric Solutions LLC, Verint Systems Inc., Veridas, ValidSoft, Uniphore Software Systems Pvt. Ltd., Spitch, and Pindrop Security Inc. among others.

For More Details on Voice Recognition Market Report at:https://www.marketstudyreport.com/reports/voice-recognition-market?utm_source=Marketwatch.com/&utm_medium=SP

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The MarketWatch News Department was not involved in the creation of this content.