Voice Recognition Market - Revenue Outlook, Segmentation and Key Trends to 2028

1. Voice Recognition Market - Revenue Outlook, Segmentation and Key Trends to 2028

2. Industry Insights • The Voice Recognition industry size is predicted to cross USD 10 billion by 2028. Real-time speech analytics and voice biometrics demand are driving developments in the voice recognition industry. Several organizations have started using voice-activated systems and virtual voice assistants. • New innovations in voice tech are transforming the industry. Technology is making lives easier as voice assistants on mobile apps. Voice-powered mobile applications are increasing as they are saving people from complicated navigations. Government bodies are also focusing on improving data and cyber security which is increasing the demand for voice recognition. This feature allows safety and security using personalized authentication and helps reduce fraudulent activities. • Over the years, cars and technology integrated within them have grown together. New innovations are making cars intelligent. Most cars come packed with a plethora of features but using them while driving can be distracting. So, companies are leaning towards voice recognition features.

3. Consumer electronics like TVs, refrigerators, washing machines, fans, lights, and much more are becoming smart each day. In many consumer devices, companies are integrating voice recognition. The new GE Profile Top Load 900 series washing machine has Amazon Alexa built-in. Amazon voice assistant is used by GE appliances that can play music, tell a joke, etc. • For instance, if there is a bad stain on a shirt and you need help removing it, you google it. However, in this washing machine, Alexa will do it for you. The company says that it is trying to give a personalized experience to the customers. • The specialty of voice activated machines is that they can respond to commands like wash cotton clothes, remove pen ink, or wash whites by saying “optimizing the washer.” Companies are offering hands-free control of the washers to customers. • Currently, smartphones owners are the biggest users of voice assistants. Smart TVs are becoming smarter with each passing day and via integration of new technology. Every industry wants to add a personal touch to its products or services, speech recognition is doing that for them. Many sectors are using this feature as an added security benefit. Many more AI voice-recognizing assistants similar to Alexa, Siri, and Google could be seen over the upcoming years.

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5. Competitive Analysis • Major companies operating in the voice recognition market include Aculab PLC, Advanced Voice Recognition Systems Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Aware Inc., Brainasoft, Fujitsu Ltd., IBM Corporation, Iflytek, Microsoft Corporation, NEC Corporation. Request for Customization @ https://www.gminsights.com/roc/1572

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