- What will the market size and the growth rate be in 2019?
- What are the key factors driving the voice recognition market for smartphones in the US?
- What are the key market trends impacting the growth of the voice recognition market for smartphones in the US?
- What are the challenges to market growth?
- Who are the key vendors in the voice recognition market for smartphones in the US?
- What are the market opportunities and threats faced by the vendors in the voice recognition market for smartphones in the US?
- What are the key outcomes of the five forces analysis of the voice recognition market for smartphones in the US?
Tuesday, 9 August 2016
US Voice Recognition Industry for Smartphones Market Is Anticipated To Surpass USD 601 Million By 2019: Hexa Reports
Voice recognition is a type of authentication technology where sounds, words, or phrases spoken by humans are converted into electrical signals with assigned meanings. In this market research report, Technavio analysts estimate the voice recognition market in the US to surpass USD 601 million by 2019 owing to its augmented application in sending mails, messages, and we search.
Growing popularity of voice recognition in smartphones is the key driver for the growth of this market. Since voice recognition eases the way users search websites, take notes, and send emails, it is gradually expected to gain traction and boost market growth during the forecast period.
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Competitive landscape and key vendors
This market is dominated by large vendors like Apple and Google who provide technology to smartphone OEMs to enable voice recognition. Smaller vendors entering this market focus on developing apps that are more accurate, and faster than Apples' Siri or Googles Google Now.
Leading vendors in this market are -
• Nuance Communications
• Voice recognition: A revolution on the rise
Voice recognition technology has been available for decades but wasn't suited for smartphones owing to their low processing power and lack of internet connectivity. However, with the advancement of processing capabilities and the improvement of network connectivity, voice recognition has become a common feature in smartphones.
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Growth drivers, challenges, and upcoming trends: Voice recognition
Technavio's market research analyst has estimated upcoming trends, such as crowd funding, to spur market growth during the forecast period. As most voice recognition apps present in the market are not perfect in context of accuracy and user friendliness, multiple small vendors try to enter this market through crowd funding to raise funds for their projects and to gain prominence in this market during the forecast period.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the voice recognition market for smartphones in the US. 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
Technavio also offers customization on reports based on specific client requirement.