The Automatic Speech Recognition is an effective technology that enables the human beings to utilize their voices to speak with a computer interface in a manner that, in its most cultured variations, be similar to the normal human conversation. The two major varieties of the Automatic Speech Recognition software modifications are directed dialogue conversations and ordinary language conversations. The effective growth in the usage of the consumer electronics devices such as smart phones in which voice assistance like Siri are utilized to assist customer in their day to day responsibilities is one of the foremost driver for the market.
According to the report analysis, ‘Global Automatic Speech Recognition (ASR) Software Market Size study, by Type (Recognition Software for PCs and Macs, Recognition Software for Phones and Tablets, Recognition Software for Automobile), by Application (In-car Systems, Healthcare, Military, Telephone, Others) and Regional Forecasts 2018-2025’ states that in the worldwide market of automatic speech recognition (ASR) software there are several companies which presently operating more actively for leading the highest market growth and registering the great value of market share around the globe throughout the short span while delivering the better consumer satisfaction, increasing the benefits of such, advancing the applications of the automatic speech recognition software, growing the usage of the automatic speech recognition software, intensifying the benefits, productivity and specifications of the technology and decreasing the associated price of such includes Brainasoft, Nuance, Lily Speech, Smart Action Company, Lyrix, Go Transcribe, Protokol, Neo Speech, Entrada, Castel Communications, Crescendo Systems, Open stream and several others.
Additionally, the significant growth in the implementation in automobiles and growth in requirement for the biometric passwords in order to give the security to individuals’ account are the substantial drivers of the market around the world. Not only has this, the effective growth in the several research & development activities to develop the accuracy is prospective to generating the numerous opportunities in the coming future.
Furthermore, the properties of the Automatic Speech Recognition (ASR) Software such as it is prodigious choice for the individual with handicaps, it creates function easier &faster and so on. Therefore, such benefits are also increasing the requirement of the Automatic Speech Recognition (ASR) Software among its users. However, concerns with the ASR software to understand the complications of the jargon and great cost linked with this technology are the limiting the aspects of Automatic Speech Recognition (ASR) Software market throughout the review duration.
Although, based on the region, the market of automatic speech recognition (ASR) software is segmented around the globe which comprises Asia Pacific, North America, Europe, Latin America and Rest of the World. However, the North America is the leading/significant region around the world in terms of market share due to the effective growth in the emphasis on development of AI-based technologies in the economy. Europe is predicted to increase at greater rate in the worldwide Automatic Speech Recognition (ASR) Software market over the forthcoming years due to high implementation of the voice and speech recognition systems in the region. Furthermore, Asia-Pacific region is also predicted to exhibit greater growth rate / CAGR over the review period of 2018-2025 owing to the growing utilization of Smartphone’s in the underdeveloped regions such as China and India. Therefore, it is anticipated that the market of automatic speech recognition (ASR) software will increase around the globe more progressively over the forthcoming years.
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Global Automatic Speech Recognition (ASR) Software Market
Ankur Gupta, Head Marketing & Communications