DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/d5l7qf/global_voice) has announced the addition of the "Global Voice Recognition Market 2015-2019" report to their offering.
The Global Voice Recognition market to grow at a CAGR of 9.4% over the period 2014-2019
Voice recognition is a software that has the ability to convert and decode human voice into speech easily understood by a computer. It is an ability of a machine to receive, understand, and dictate the spoken commands. Voice recognition is used for biometric security purposes to determine the voice of a particular person to grant or deny access. This technology has become very popular in mobile banking, which requires identification of authenticated users by their spoken commands to help them make transactions.
One of the emerging trends is the increased demand for voice recognition in the Healthcare industry. Voice recognition helps in improving efficiency by reducing the time taken for notes and filling out charts for patients. Also, this helps in dictating notes almost around three times faster than typing. Thus, this improves time saving for diagnosing and treating patients.
According to the report, one of the factors of the market is the increased use of biometrics. The Biometrics segment is witnessing a high demand for speech recognition applications because of the rise in fraudulent activities globally. Also, the vendors in this segment are developing cost-effective and easy-to-deploy ASR applications.
Further, the report states that one of the main challenges that the market faces is the lack of accuracy in voice recognition systems. Voice recognition applications are highly sound-sensitive, and hence any ambient noise reduces its accuracy levels.
To calculate the market size, the report considers the revenue generated from:
- Hardware: The revenue generated from the sales of hardware systems
- Software: The revenue generated from the sales of software applications
The report also includes the detailed analysis of the following software applications:
- Voice biometrics: This includes the revenue from speaker identification and speaker verification systems
- Nuance Communications
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Market Description
- Market Landscape
- Market Segmentation by Product
- Global Voice Recognition Software Market
- Global Voice Recognition Hardware Market
- Geographical Segmentation
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/d5l7qf/global_voice