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The Latin America, Middle East and Africa Voice Recognition Market would witness market growth of 13% CAGR during the forecast period (2017-2023). The voice recognition technology would be a replacement technology to traditional methods prevalent today. The growth in the AI based systems would add to the market attractiveness over the years. Deep learning algorithm which is used to improve search results would be a major technological edge that would contribute to the market growth of AI based voice recognition market. Voice recognition is the technology that is leveraged in most of the autonomous and semi-autonomous automobiles. Integration of voice recognition into the automobiles is a trend that is very popular due to regulatory framework that restricts that use of mobile phones while driving and at the same times promotes hands free driving rules. Voice commands are used to significantly enhance the driver and passenger safety, as the driver can drive the vehicle without distractions.
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 LAMEA 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of Latin America, Middle East and Africa.
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.