Expanding Applications & Technology Developments Drive Growth in the Global Voice and Speech Recognition Technology Market
The global Voice and Speech Recognition Technology market is projected to reach US$19.7 billion by 2024 , in terms of software revenues, driven by application of voice and speech recognition technology in an expanding range of applications. Technology advancements in speech and voice technologies and subsequent improvements in accuracy and security are also expected to spur market growth. The success of most electronic technologies and systems hinges onto the intuitiveness of user interface, making man-machine communication the stepping-stone for success of all electronic products and solutions. As an interface between man and machine, voice and speech recognition technology enables easy and convenient interaction of users with controls and product features on a machine. New generation voice and speech recognition applications allow users to operate a range of devices/equipment through verbal commands, bringing in high level of convenience to users. With modern consumers emphasi...