Automatic Speech Recognition Market In-Depth Analysis by Key Benefits

Automatic Speech Recognition Market Size,
Share, Driving Factors, Challenges, Sales and
Revenue Forecast to 2025
“Globally, the automatic speech recognition market is expected to observe a high growth on account of
increase in advanced electronic devices usage in the future.”
Global Automatic Speech Recognition Market is expected to observe a high growth on account of increase in
advanced electronic devices usage in the future. One of the major drivers observed in the market is the
increasing voice passwords use by consumers. Text passwords are difficult to remember and easy to crack.
Moreover, text passwords offer security threats. Therefore, organizations are focusing on adopting biometric
passwords in the form of voice which are easy to remember as well as operate by population. Over the past
decades, the field of automatic speech recognition was mostly a research topic. As early as 1932, researchers
at Bell labs investigated the science of speech recognition.
With increase in the amount of fraud, organizations realized a need for a robust system which could serve the
purpose for fraud management. In this system, a person’s voice is treated as a password for identification and
authentication. The main objective of using automatic speech recognition application is to fasten the security
system with high accuracy. Such an application eradicates the need of a keyboard. Moreover, these
applications have contributed to increase in accuracy, response time and efficiency which in turn is expected
to drive its demand over the forecast period. Security systems based on voice are efficient in crowd control.
Request Sample Copy of this Market Research @
https://www.millioninsights.com/industry-reports/automatic-speech-recognition-market/requestsample

The need for entering correct passwords with keyboard for access results in time delays and long queues.
Therefore, automatic voice based security systems are expected to find major applications where crowd
control is required. Lack of supporting I.T infrastructure is hampering overall system growth as establishment
of automatic speech recognition systems requires highly efficient I.T systems and maintenance. Mindset
change is another factor which is expected to restrain global industry growth in the future.
Some organizations are expected to hesitate in implementing new technologies and stick with their old
systems. Voice recognition consists of front end and back end techniques. Front end techniques do face a
challenge of accuracy and time delay. Therefore, back end recognition technique is vastly used owing to its
high precision and speed benefits. These applications require a high amount of accuracy and should be able to
handle disturbances or errors generated by noise. These systems also require high voice sensitivity detecting
low pitch sounds as well.
The automatic speech recognition market is expected to contribute to the growth of speech analytics as well.
Speech analytics, popularly known as audio mining is used to make meaningful inferences from the words
captured. Study of voice based important business related materials are expected to give rise to better
decision making related to strategy and operational issues
Global market is segmented on the basis of application areas. These application segments include fraud
management, durable electronic goods, military services, healthcare and education. The technology finds its
use in banking sectors, military, medical devices and cellular services.
Banks are developing systems which allow transactions enabled through voice based security authentication.
Substantial research is being done to implement in the field of military to implement voice recognition
systems in high field aircrafts and helicopters. Speech recognition is also used for education purpose by people
with disabilities. Other implementation includes home appliances, video games, interactive voice response
and robotics. North America followed by Europe accounted for high demand for speech enabled applications.
Such facilities require use of voice recognition technology thereby these regions formed a larger share in the
global speech recognition market.
Browse Full Research Report @
https://www.millioninsights.com/industry-reports/automatic-speech-recognition-market
Federal government has adopted Electronic Health Records and is expected to increase regional market
growth over the forecast period. Asia Pacific region and Middle East region are expected to observe significant
growth on account of the presence of developing economies including China, India, Japan and UAE. Africa and
South America are expected to observe slow growth on account of lack of technology and language barriers.
Major vendors dominating the global market are Agnito, Apple, Auraya Systems, Aurix, Cisco, Google, IBM,

LumenVox LLC, Microsoft Corp, MModal Inc, Nuance Communication, Raytheon BBN, Validsoft Ltd, Voice
Biometrics Group, Voice Trust AG and Voxeo.
Nuance Communications, headquartered in Burlington, Massachusetts, USA recently announced its dragon
drive connected car platform. This platform gives the automakers privilege to generate voice enables apps and
services. These apps can be used to connect with smart devices and systems from behind the wheel. More
applications of such kind are expected to come up with development in technology especially in the field of
neural network and fuzzy logic. Primarily banks are the major customers of these applications. Among them
are ANZ in Asia Pacific, BBVA in Spain, US bank in USA.
These banking institutions believe that voice biometrics provide a better mobile banking experience in terms
of safety, accuracy and speed. The market is observing an increasing demand for speech based biometrics for
identification purpose. This growth is mainly on account of growing amount of fraud. The vendors must
concentrate on cost effective and easy to use automatic speech based applications that cater the need of
fraud management.

Get in touch
At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our
representatives strive to understand diverse client requirements and cater to the same with the most
innovative and functional solutions.
Contact Person:
Ryan Manuel
Research Support Specialist, USA
Email: ryan@millioninsights.com
Global Headquarters
Million Insights
Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States
Phone: 1-408-610-2300
Email: sales@millioninsights.com
Asia Pacific
Million Insights
Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India
Phone: 91-20-65300184