Worldwide Voice Recognition Software Market to 2030: Increasing Demand for Voice Biometric System for User Authentication

 The “Global Voice Recognition Software Market by Type (Speech Recognition, Voice Recognition), Technology (Artificial Intelligence (AI) Based, Non-Artificial Intelligence Based), Industry, Deployment – Cumulative Impact of High Inflation – Forecast 2023-2030” report has been added to’soffering.

The Global Voice Recognition Software Market is forecasted to grow significantly, with a projected value of USD 14.28 billion in 2023, and is expected to grow at a CAGR of 19.58%, to reach a staggering USD 50.16 billion by 2030. 

Market Segmentation & Coverage:

This research report categorizes the Global Voice Recognition Software Market in order to forecast the revenues and analyze trends in each of the following sub-markets:

  • Based on Type, the market is studied across Speech Recognition and Voice Recognition. Voice Recognition is projected to witness a significant market share during the forecast period.
  • Based on Technology, the market is studied across Artificial Intelligence (AI) Based and Non-Artificial Intelligence Based. The Non-Artificial Intelligence Based is projected to witness a significant market share during the forecast period.
  • Based on Industry, the market is studied across Automotive, Banking, Financial Services, & Insurance, Education, Enterprise, Government, Healthcare, Legal, Military, and Retail & Consumer Goods. The Military is projected to witness a significant market share during the forecast period.
  • Based on Deployment, the market is studied across On-Cloud and On-Premise. The On-Premise is projected to witness a significant market share during the forecast period.
  • Based on Region, the market is studied across the Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and the United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. Europe, the Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and the United Kingdom. The Americas commanded the largest market share of 38.75% in 2022, followed by Europe, the Middle East & Africa.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies – USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered historical years, 2022 is the base year, 2023 is the estimated year, and years from 2024 to 2030 are considered as forecast periods.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Voice Recognition Software Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

  1. Market Penetration: Provides comprehensive information on the market offered by the key players
  2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
  3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
  4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
  5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
  6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

  1. What is the market size and forecast of the Global Voice Recognition Software Market?
  2. What are the inhibiting factors and impact of COVID-19 shaping the Global Voice Recognition Software Market during the forecast period?
  3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Voice Recognition Software Market?
  4. What is the competitive strategic window for opportunities in the Global Voice Recognition Software Market?
  5. What are the technology trends and regulatory frameworks in the Global Voice Recognition Software Market?
  6. What is the market share of the leading vendors in the Global Voice Recognition Software Market?
  7. What modes and strategic moves are considered suitable for entering the Global Voice Recognition Software Market?

Market Dynamics


  • Rising demand for voice biometric system for user authentication
  • Increasing demand for Electronic Health Record (EHR) application
  • The rapid proliferation of multifunctional devices or smart speakers


  • Lack of accuracy in voice recognition software


  • Growing consumer preference for technologically advanced products
  • Use of voice recognition technology in Education for disabled students


  • Limited vocabulary and unable to understand complex jargon and phrasing

Companies Mentioned

  • 3M Company
  • Alphabet Inc.
  • Amazon Web Services, Inc.
  • Apple Inc.
  • Baidu, Inc.
  • Carnyx Group Ltd.
  • International Business Machines Corporation
  • LumenVox GmbH
  • M2SYS Technology
  • Microsoft Corporation
  • Raytheon Technologies Corporation
  • Sensory, Inc
  • Tobii Dynavox AB
  • Twilio Inc.
  • Voice Tech Group, Inc.

For more information about this report visit

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Research and Markets
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SOURCE Research and Markets

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