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The Asia Pacific Voice Recognition Market would witness market growth of 12.8% CAGR during the forecast period (2017 - 2023). The Asia Pacific region would be the fastest growing region, due to increasing IoT applications and demand for voice technology. Increasing demand for AI based voice recognition systems in the self-service sectors such as banking and call centers would contribute to the market growth in the region.
The voice recognition software helps the customers to operate and capture data on their systems with an ease. The Voice Recognition technology has been in use in wide range of applications, due to rapid growth in the adoption of mobile & cloud technology and unprecedented technological advancements in computing powers. The healthcare sector would significantly contribute to the growth of voice recognition technology, due to the adoption of the technology to produce health-related data records.
Based on Types, the market report segments the market into Enhanced Devices, Hardware, and Software. Software types are further divided into Automatic Speech Recognition, Speaker Verification, and Storage Devices & Processors. Based on Applications, the market is segmented into Non- Artificial Intelligence Based and Artificial Intelligence Based.
Based on Verticals, the Asia Pacific Voice Recognition Market is segmented into Consumer Electronics & Retail, Automotive, BFSI, Healthcare, Home Security & Automation, and Others. Based on Countries, the market report segments the market into China, Japan, India, South Korea, Singapore, Australia, and Rest of Asia Pacific.
The report covers the competition analysis of key stake holders of the Voice Recognition Market. Key companies profiled in the report include Nuance Communications, Inc., Microsoft Corporation, Google Inc., Apple, Inc., Amazon.com, Inc., Hoya Corporation (Readspeaker Holding B.V.), International Business Machines Corporation, VoiceVault, Inc., Raytheon Company, and Advanced Voice Recognition Systems, Inc.