Speech Technology Market Share, Strategies, Opportunities, Scope, Forecast To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033.

The Speech Technology Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Speech Technology Market:
https://www.thebusinessresearchcompany.com/report/speech-technology-global-market-report

According to The Business Research Company’s Speech Technology Global Market Report 2024, The speech technology market size has grown exponentially in recent years. It will grow from $13.22 billion in 2023 to $16.71 billion in 2024 at a compound annual growth rate (CAGR) of 26.3%.  The  growth in the historic period can be attributed to advancements in natural language processing (nlp), rise in voice-activated devices, accessibility and inclusion, integration in customer service, multilingual support.The speech technology market size is expected to see exponential growth in the next few years. It will grow to $41.95 billion in 2028 at a compound annual growth rate (CAGR) of 25.9%.

The growing adoption of voice assistants is expected to drive the expansion of the speech technology market in the future. Voice assistants are digital tools or assistants capable of recognizing voice commands, interpreting language, and producing voice output. They play a crucial role in speech technology by enabling hands-free device control and facilitating natural language interactions, thereby improving user convenience and accessibility across various applications.

For example, according to ComScore’s data from December 2021, 48% of internet users owned at least one smart speaker, marking an 11% increase from the 37% reported in 2020. This trend indicates a growing reliance on voice assistants among consumers, driving the demand for speech technology solutions.

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The speech technology market covered in this report is segmented –
1) By Type: Artificial Intelligence, Non-artificial Intelligence
2) By Deployment Mode: On Cloud, On-Premises Or Embedded
3) By Application: Automotive, Consumer, Government, Enterprise, Healthcare, Banking, Financial Services, and Insurance (BFSI)

Top Major Players

Amazon.com Inc.,

Apple Inc.,

Alphabet,

Microsoft Corporation,

International Business Machines Corporation

The speech technology market report table of contents includes:
             1. Executive Summary

2. Speech Technology Market Characteristics
3. Speech Technology Market Trends And Strategies
4. Speech Technology Market – Macro Economic Scenario
5. Global Speech Technology Market Size and Growth
6. Speech Technology Market Segmentation
7. Speech Technology Market Regional And Country Analysis

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34. Key Mergers And Acquisitions In The Speech Technology Market
35. Speech Technology Market Future Outlook and Potential Analysis
36. Appendix

 

List Of Tables :

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Speech Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Speech Technology Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Speech Technology Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

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Table 74: Amazon.com Inc. Financial Performance

Table 75: Apple Inc. Financial Performance

Table 76: Alphabet Financial Performance

Table 77: Microsoft Corporation Financial Performance

Table 78: International Business Machines Corporation Financial Performance

 

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