Voice Recognition Market outlook with industry review and forecasts

Global voice recognition market is universally gaining prominence as one of the fastest emerging verticals within the sustainable and smart technologies space and will experience notable growth in the future. The technology adoption is likely to be driven by the proliferation of voice activated devices and increasing adoption of biometric technologies such as voice verification for remote authentication.
On the basis of deployment model, the global voice recognition industry is classified into on-premise and cloud-based models. Cloud-based voice recognition services are slated to witness a significant adoption over the next few years. This can be attributed to advantages including enhanced security, reliability, and flexibility compared to on-premise platforms.
The adoption of cloud-based systems will be largely driven by proliferation of internet of things (IoT) and its increasing application in smart home systems. IoT enabled intelligent systems allows users to control lighting, temperature, ventilation, security, and a range of other tasks using voice commands. They allow users to control and track systems more conveniently. For efficient operation of smart home systems, reliable communication between users and devices via voice commands is necessary. These trends are likely to boost the adoption of cloud-based voice recognition systems.
Voice recognition platforms can be bifurcated into AI-based and non-AI based solutions in terms of the technology. AI-based voice recognition systems are increasingly gaining traction and are anticipated to experience rapid adoption through 2026. Their widespread adoption in recent years has been influenced by greater accuracy in recognition of the user's voice.
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Artificial intelligence-based voice recognition platforms such as AI voice assistants are being increasingly employed in many applications that were once performed by humans, including interface and conversation. For example, many enterprises are using AI bots for conducting initial job interviews and screening eligible applicants.
Since interviews are conversational, it is essential for these bots to interpret what applicants are saying, which requires reliable and efficient voice recognition capabilities. AI-enabled platforms are expected to find a wide range of new use-cases in the near future, which will bolster overall industry outlook significantly.
Automotive, aerospace, healthcare, BFSI, consumer electronics, and government & defense sectors are among the major end-users of voice recognition systems. The adoption of the technology across aerospace applications is expected to increase considerably by 2026, with growing implementation of voice biometrics authentication and identity verification in the aerospace sector. Voice recognition offers numerous benefits including improved reliability, better cybersecurity, and an enhanced customer experience.
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Considering the geographical outlook, the voice recognition industry in Middle East and Africa is set to record appreciable gains by 2026, with widespread adoption of the technology across various end-use sectors. Additionally, a large number of enterprises are incorporating these platforms for voice based biometric security to detect and reduce the number of fraudulent activities.
Table of Contents
Chapter 1 Methodology & Scope
	
1.1 Scope & definitions
	
1.2 Methodology & forecast parameters
	
1.3 Data sources	
		
1.3.1 Secondary
		
1.3.2 Primary
	
	
Chapter 2 Executive Summary
	
2.1 Voice recognition industry 360 degree synopsis, 2016 - 2026	
		
2.1.1 Business trends
		
2.1.2 Regional trends
		
2.1.3 Deployment mode trends
		
2.1.4 Technology trends
		
2.1.5 End-use trends