Global Speech Recognition Software Market 2016-2020

  • Published: Apr 2016
  • Pages: 53
  • SKU: IRTNTR9002

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This market study report presents a detailed segmentation of the global speech recognition software market by application (healthcare transcriptions, enterprise contact centers, telematics, mobile applications, and others), by end user (enterprise users and individual users), and by geography (the Americas, APAC, and EMEA). The leading vendors analyzed in this market research are AT&T, IBM, Microsoft, and Nuance Communications.

Overview of the global speech recognition software market

The global market for speech recognition software will grow at an impressive CAGR of almost 17% by 2020. Much of this market’s growth can be attributed to the recent increase in demand for authentication across various financial institutions, healthcare enterprises, and government organizations. Moreover, factors such as the rising penetration of speech recognition applications across new end-user segments such as telecommunications, enterprise contact centers, mobile devices, and consumer automotive vehicles will also promote the prospects for market growth until the end of the forecast period.

Technavio’s market research analyst has estimated factors like the increased utilization of biometrics to augment market growth during the predicted period. Due to recent security threats, the use of biometric technologies among enterprises and government agencies has increased significantly. Biometrics based on voice and speech recognition patterns are used to verify the authenticity of users by identifying their spoken language and translating it into text using computers. Since the combination of biometrics and speech recognition technology helps to identify and authenticate the person’s voice and speech, it ensures a high level of accuracy as well as security for the end users.

 Application-based segmentation of the speech recognition software market

  • Healthcare transcriptions
  • Enterprise contact centers
  • Telematics
  • Mobile applications

During 2015, the healthcare transcriptions segment dominated this market and accounted for an impressive market share of more than 35%. Factors such as the growing need to effectively manage data using electronic data files, such as electronic health records and electronic medical records, is a noteworthy factor that is driving the growth of the market in the healthcare segment.

Geographical segmentation of the speech recognition software market

  • Americas
  • APAC
  • EMEA

In terms of geography, the Americas dominated this market and is envisaged to grow at a CAGR of over 16% until the end of the forecast period. Factors like the increasing acceptance of speech recognition solutions in the healthcare and banking, financial services, and insurance sectors for time and attendance monitoring and access to organizations’ PCs, networks, and servers will result in the high growth of this market in the Americas.

Competitive landscape and key vendors

The global speech recognition software market is highly competitive owing to the presence of a few large providers. Since the market is expanding, it will have a positive effect on both the large and small vendors. Consequently, the providers in this market have been struggling to introduce technological advances and improve customer experience so that they can maintain a competitive edge in the market.

Key vendors in this market are -

  • AT&T
  • IBM
  • Microsoft
  • Nuance Communications

Other prominent vendors in this market are Telisma, Dolby Fusion Speech, LumenVox, OnMobile Global, Raytheon BBN Technologies, Sensory, Tellme Networks, and Voxeo.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global speech recognition software market?
  • What are the key market trends impacting the growth of the global speech recognition software market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global speech recognition software market?
  • What are the market opportunities and threats faced by the vendors in the global speech recognition software market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA.
  • What are the key outcomes of the five forces analysis of the global speech recognition software market?

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Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of the report

  • Market overview
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Market landscape

  • Market overview
  • Technology segments
  • Advantages and disadvantages of speech recognition software
  • Market size and forecast
  • Global speech recognition market by product segmentation 2015

PART 06: Five forces analysis

PART 07: Market segmentation by application

  • Global speech recognition software market by application

PART 08: Market segmentation by end-user

  • Enterprise users
  • Individual users

PART 09: Geographical segmentation

  • Global speech recognition software market by region
  • Global speech recognition software market by region 2015-2020 (revenue)

PART 10: Key leading countries

  • US
  • UK
  • Japan

PART 11: Buying Criteria

PART 12: Market drivers

  • Increased use of biometrics
  • Demand for speech recognition on mobile devices
  • Use of speech recognition in healthcare industry
  • Need to improve competitive approach

PART 13: Impact of drivers

PART 14: Market challenges

  • Lack of accuracy
  • Security concerns
  • Lack of awareness among end-users
  • Inability to suppress surrounding noise

PART 15: Impact of drivers and challenges

PART 16: Market trends

  • Increased use of voice passwords
  • Integration of voice verification with speech recognition
  • Use in the gaming industry
  • Technological advances in speech recognition technology

PART 17: Vendor landscape

  • Competitive scenario
  • Description of major vendors
  • Other prominent vendors

PART 18: Appendix

  • List of abbreviations

PART 19: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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