Dublin, Nov. 03, 2022 (GLOBE NEWSWIRE) — The “Global Speech Technology Market (2022-2027) by Functions, Delivery Methods, Deployment, Verticals and Geography, Competitive Analysis and the Impact of Covid-19 with Onoff Analysis” report has been added to ResearchAndMarkets.com’s Sacrifice.
The global speech technology market is estimated at USD 17.33 billion in 2022 and is expected to reach USD 44.47 billion in 2027, growing at a CAGR of 20.74%.
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals that result from the changes in the supply and demand curves for a given product or service. Forces of market dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand and supply. Human emotions can also drive decisions, influence the market and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing risks.
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the latest development and competitive scenario of companies. Some of the companies covered in the report are Acapela Group, Amazon Web Services, Inc., Anki, Apple Inc., Baidu, Inc., Google LLC, iFlytek, IBM Corp., Qualcomm Technologies, Inc., Quantiphi , Inc., Raytheon BBN Technologies, Sensory Inc., Siemens AG, etc.
- Americas (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of America)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position Score and Market Performance Score. The tool uses various factors for categorizing the players into four categories. Some of the factors considered for analysis are financial performance in the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
This report provides a detailed Ansoff matrix analysis for the global Speech Technology Market. Ansoff matrix, also known as the product/market expansion grid, is a strategic tool used to plan strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market development, market penetration, product development and diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyzes the global speech technology market using the Ansoff matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive assessment of the global Speech Technology Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and market size projections. The projections are calculated using proven research methodologies.
- This report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on the sector in various geographies.
- The report also contains a competitive analysis with positioning quadrants, the analyst’s competitive positioning tool.
Key topics covered:
1 Report description
2 Research methodology
3 Executive Summary
4 Market dynamics
4.1.1 Increasing demand for speech-based biometric systems for multifactor authentication
4.1.2 Rising Healthcare, Mobile Banking and Smart Home Automation applications
4.1.3 Potential impact of AI on the accuracy of speech and voice recognition
4.2.1 Associated high costs for implementation of speech technology system
4.2.2 Lack of accuracy in harsh environments
4.3.1 Growing number of voice control-based smart assistive devices
4.3.2 Potential development of speech technology system for micro-linguistics and local languages
4.4.1 Standardized platform for developing customized speech recognition systems
5 Market analysis
5.1 Regulatory Scenario
5.2 Porter’s five forces analysis
5.3 Impact of COVID-19
5.4 Ansoff matrix analysis
5.5 Pestle analysis
6 Global Speech Technology Market, by Functions
6.2 Interactive Voice Response (IVR)
6.3 Real-time speech to text conversion
6.4 Speech Analytics
6.5 Speech Recognition
6.6 speech synthesis
6.7 Speech Verification
7 Global Speech Technology Market, by Delivery Methods
7.2 Artificial Intelligence Based
7.3 Non-artificial intelligence based
8 Global Speech Technology Market, by Deployment
9 Global Speech Technology Market, by Verticals
9.2 Aerospace & Defense Security
9.4 Government & Public Sector
9.5 Healthcare & Life Science
9.6 IT & Telecommunication
9.7 Personal Assistance
10 American Speech Technology Market
10.9 United States
10.10 Rest of America
11 Europe’s Speech Technology Market
11.16 United Kingdom
11.17 Rest of Europe
12 Middle East and Africa’s Speech Technology Market
12.5 Saudi Arabia
12.6 South Africa
12.7 United Arab Emirates
12.8 Rest of MEA
13 APAC’s Speech Technology Market
13.11 South Korea
13.12 Sri Lanka
13.15 Rest of Asia-Pacific
14 Competitive landscape
14.1 IGR Competitive Quadrant
14.2 Market Share Analysis
14.3 Strategic Initiatives
14.3.1 M&A and Investments
14.3.2 Partnerships and Collaborations
14.3.3 Product Development and Improvements
15 company profiles
15.1 Acapella Group
15.2 Amazon Web Services, Inc.
15.4 Apple Inc.
15.5 Baidu, Inc.
15.6 Google LLC
15.8 IBM Corp.
15.10 Meta Platforms, Inc.
15.11 Microsoft Corp.
15.12 Nuance Communications, Inc.
15.13 Qualcomm Technologies, Inc.
15.14 Quantiphi, Inc.
15.15 Raytheon BBN Technologies
15.16 Sensory Inc.
15.17 Siemens AG
15.19 Speechmatics (Cantab Research Ltd.)
15.20 Unifore Software
15.22 Voicevault Inc.
For more information about this report visit https://www.researchandmarkets.com/r/tksuj
Global Speech Technology Market