Market outlook of the global voice recognition market for smartphones
Voice recognition converts sounds or phrases to electrical signals with assigned functionalities. The global market for voice recognition in smartphones is envisaged to post a healthy market growth rate of more than 10% as it is directly related to the sale of smartphones during the forecast period.
Technavio’s market research analyst has estimated eminent factors, such as the growing smartphone market, to drive market growth during the forecast period. Technological advancements pertaining to smartphones have made it a necessary part of our daily lives. The reduced average selling price (ASPs) of these devices ensures that people from all income levels adopt smartphones for entertainment, gaming, and office applications.
Geographical segmentation of the voice recognition market for smartphones
In this market study, analysts estimate the Americas to account for approximately 100% of the total market share during the forecast period. The presence of all major voice recognition vendors like Google, Apple, Microsoft, and Nuance in the US is responsible for this region’s high market share during the forecast period.
Competitive scenario and key vendors
This market is dominated by prominent vendors like Microsoft, Apple, and Google. Other vendors in this market try and gain prominence by providing their services to the healthcare, automotive, and consumer electronics segments.
Leading vendors in this market are -
Growth drivers, challenges, and upcoming trends: Voice recognition
Upcoming trends such as the integration of voice verification with speech recognition are expected to boost market growth during the forecast period. The integration of voice verification and speech recognition is expected to replace the existing security features such as lock patterns, passwords, and facial recognition as it allows users to unlock their smartphones through voice recognition.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the global voice recognition market for smartphones. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
•What will the market size and the growth rate be in 2019?
•What are the key factors driving the global voice recognition market for smartphones?
•What are the key market trends impacting the growth of the global voice recognition market for smartphones?
•What are the challenges to market growth?
•Who are the key vendors in the global voice recognition market for smartphones?
•What are the market opportunities and threats faced by the vendors in the global voice recognition market for smartphones?
•Trending factors influencing the market shares of the EMEA, Americas, and APAC?
•What are the key outcomes of the five forces analysis of the global voice recognition market for smartphones?