Global Mobile Speech Recognition Software Market to Reach $940.8 Million by 2030
NEW YORK, March 10, 2023 /PRNewswire/ -- The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
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Global Mobile Speech Recognition Software Market to Reach $940.8 Million by 2030
In the changed post COVID-19 business landscape, the global market for Mobile Speech Recognition Software estimated at US$328.8 Million in the year 2022, is projected to reach a revised size of US$940.8 Million by 2030, growing at a CAGR of 14% over the period 2022-2030.
The U.S. Market is Estimated at $89.6 Million, While China is Forecast to Grow at 18.8% CAGR
The Mobile Speech Recognition Software market in the U.S. is estimated at US$89.6 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$219.3 Million by the year 2030 trailing a CAGR of 18.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.2% and 11.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10.5% CAGR.
Select Competitors (Total 53 Featured)
- Advanced Voice Recognition Systems Inc.
- Amazon Inc.
- Apple Inc.
- AT&T, Inc.
- Baidu Inc.
- Cisco Systems Inc.
- Google Inc.
- IBM Corp.
- LumenVox LLC
- Microsoft Corp.
- Nuance Communications Inc.
- Sensory Inc.
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I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Mobile Speech Recognition Technology: Delivering the Power of
Speech to Mobile Devices
Recent Market Activity
Speech Recognition Technology: An Indispensable Man-to-Machine
Communication Tool in New-Age Mobile Devices
Recent Advancements in Mobile Speech Recognition Summarized
Nuance Communications
Google Now
Apple?s Siri
Amazon?s Alexa
Baidu?s Deep Speech
Microsoft Cortana
IBM Watson
Global Market Outlook
Global Market Outlook
Developing Countries to Drive Global Growth in the Short-to-
Medium Term Period
China?s Speech Recognition Market: A Tough Nut to Crack for
Google?
Mobile Speech Recognition Software - Global Key Competitors
Percentage Market Share in 2022 (E)
Impact of Covid-19 and a Looming Global Recession
Competitive Market Presence - Strong/Active/Niche/Trivial for
Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
Advanced Voice Recognition Systems, Inc. (USA)
Amazon, Inc. (USA)
Apple, Inc. (USA)
AT&T, Inc. (USA)
Baidu, Inc. (China)
Cisco Systems, Inc. (USA)
Google, Inc. (USA)
International Business Machines Corporation (USA)
LumenVox LLC (USA)
Microsoft Corporation (USA)
Nuance Communications, Inc. (USA)
Sensory, Inc. (USA)
3. MARKET TRENDS & DRIVERS
Growing Prominence of Voice-Based User Interface Technologies
in Mobile Devices Drive Strong Market Growth
Sophisticated Conversational User Interfaces Set to Replace
Graphical User Interface (GUI)
Advancements in Processing Power Improves Speech Recognition
Efficiency
The Steadily Expanding Mobile Ecosystem Globally: An Important
Opportunity Indicator
Robust Demand for Smartphones Sets the Perfect Platform for
Market Growth
Despite Decline in Popularity, Feature-Rich and High-End
Tablets Sustain Demand for Mobile Speech Recognition
Mobile SMS: An Underutilized Feature with Huge Untapped
Potential for Mobile Speech Recognition Technology
Wearable & Hearable Devices: The Next Frontier to Conquer for
Mobile Speech Recognition Technology
Speech Recognition Coupled with Hearable Technology to
Transform User Experience
Emerging IoT to Widen Demand for Mobile Speech Recognition
Technology
Cloud-Based Speech Technology Solutions Enhance Performance and
Improves User Experience
Accuracy, Efficiency, and Response Time Benefits Spur Demand
for Automated Speech Recognition (ASR)
Mobile Speech Recognition Technology to Revolutionize Voice
Commerce and Voice Banking
Stringent Vehicle Driving Laws Augurs Well for Market Penetration
Use of Mobile Phone Navigation Applications Made Easy by Speech
Recognition
Focus on Employee Productivity & Efficiency to Drive Adoption
of Mobile SR in Enterprises
Growing Use of Voice Enabled Portals Drive Adoption in Enterprises
Speech Recognition Technologies to Drive Next Generation
Marketing Campaigns
Favorable Trends in the Communications Industry Strengthens
Market Prospects
Spurt in Internet Usage
Move towards Convergence
Proliferation of Embedded Devices
Rise in Social Networking
Substitution of Conventional Phone Services by VoIP
Key Factors Hampering Growth Prospects for Mobile Speech
Recognition
Limited Understanding of Words and Inability to Process Large
Vocabulary of Information
Low Accuracy due to Ambient Noise
Lack of Awareness
Need for Improvements in Processor Technology
High Cost of Speech Recognition Implementations
Noteworthy Trends in a Nutshell
Passwords Becoming More Prominent
Speech Recognition Integrating Voice Verification
Voice Search Gain Popularity
4. GLOBAL MARKET PERSPECTIVE
Table 1: World Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Geographic Region - USA,
Canada, Japan, China, Europe, Asia-Pacific, Latin America,
Middle East and Africa Markets - Independent Analysis of Annual
Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
Table 2: World Historic Review for Mobile Speech Recognition
Software by Geographic Region - USA, Canada, Japan, China,
Europe, Asia-Pacific, Latin America, Middle East and Africa
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
Table 3: World 16-Year Perspective for Mobile Speech
Recognition Software by Geographic Region - Percentage
Breakdown of Value Sales for USA, Canada, Japan, China, Europe,
Asia-Pacific, Latin America, Middle East and Africa Markets for
Years 2014, 2023 & 2030
Table 4: World Mobile Speech Recognition Software Market
Analysis of Annual Sales in US$ Thousand for Years 2014 through
2030
III. MARKET ANALYSIS
UNITED STATES
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in the United States
for 2023 (E)
Table 5: USA Recent Past, Current & Future Analysis for Mobile
Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 6: USA Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
CANADA
Table 7: Canada Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 8: Canada Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
JAPAN
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
Table 9: Japan Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 10: Japan Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
CHINA
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in China for 2023 (E)
Table 11: China Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 12: China Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
EUROPE
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
Table 13: Europe Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Geographic Region -
France, Germany, Italy, UK, Spain, Russia and Rest of Europe
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2022 through 2030 and % CAGR
Table 14: Europe Historic Review for Mobile Speech Recognition
Software by Geographic Region - France, Germany, Italy, UK,
Spain, Russia and Rest of Europe Markets - Independent Analysis
of Annual Sales in US$ Thousand for Years 2014 through 2021 and
% CAGR
Table 15: Europe 16-Year Perspective for Mobile Speech
Recognition Software by Geographic Region - Percentage
Breakdown of Value Sales for France, Germany, Italy, UK, Spain,
Russia and Rest of Europe Markets for Years 2014, 2023 & 2030
FRANCE
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in France for 2023 (E)
Table 16: France Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 17: France Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
GERMANY
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
Table 18: Germany Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 19: Germany Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
ITALY
Table 20: Italy Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 21: Italy Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
UNITED KINGDOM
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in the United Kingdom
for 2023 (E)
Table 22: UK Recent Past, Current & Future Analysis for Mobile
Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 23: UK Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
SPAIN
Table 24: Spain Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 25: Spain Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
RUSSIA
Table 26: Russia Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 27: Russia Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
REST OF EUROPE
Table 28: Rest of Europe Recent Past, Current & Future Analysis
for Mobile Speech Recognition Software by Segment - Mobile
Speech Recognition Software - Independent Analysis of Annual
Sales in US$ Thousand for the Years 2022 through 2030 and %
CAGR
Table 29: Rest of Europe Historic Review for Mobile Speech
Recognition Software by Segment - Mobile Speech Recognition
Software Markets - Independent Analysis of Annual Sales in US$
Thousand for Years 2014 through 2021 and % CAGR
ASIA-PACIFIC
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in Asia-Pacific for
2023 (E)
Table 30: Asia-Pacific Recent Past, Current & Future Analysis
for Mobile Speech Recognition Software by Geographic Region -
Australia, India, South Korea and Rest of Asia-Pacific Markets -
Independent Analysis of Annual Sales in US$ Thousand for
Years 2022 through 2030 and % CAGR
Table 31: Asia-Pacific Historic Review for Mobile Speech
Recognition Software by Geographic Region - Australia, India,
South Korea and Rest of Asia-Pacific Markets - Independent
Analysis of Annual Sales in US$ Thousand for Years 2014 through
2021 and % CAGR
Table 32: Asia-Pacific 16-Year Perspective for Mobile Speech
Recognition Software by Geographic Region - Percentage
Breakdown of Value Sales for Australia, India, South Korea and
Rest of Asia-Pacific Markets for Years 2014, 2023 & 2030
AUSTRALIA
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in Australia for 2023
(E)
Table 33: Australia Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 34: Australia Historic Review for Mobile Speech
Recognition Software by Segment - Mobile Speech Recognition
Software Markets - Independent Analysis of Annual Sales in US$
Thousand for Years 2014 through 2021 and % CAGR
INDIA
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in India for 2023 (E)
Table 35: India Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 36: India Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
SOUTH KOREA
Table 37: South Korea Recent Past, Current & Future Analysis
for Mobile Speech Recognition Software by Segment - Mobile
Speech Recognition Software - Independent Analysis of Annual
Sales in US$ Thousand for the Years 2022 through 2030 and %
CAGR
Table 38: South Korea Historic Review for Mobile Speech
Recognition Software by Segment - Mobile Speech Recognition
Software Markets - Independent Analysis of Annual Sales in US$
Thousand for Years 2014 through 2021 and % CAGR
REST OF ASIA-PACIFIC
Table 39: Rest of Asia-Pacific Recent Past, Current & Future
Analysis for Mobile Speech Recognition Software by Segment -
Mobile Speech Recognition Software - Independent Analysis of
Annual Sales in US$ Thousand for the Years 2022 through 2030
and % CAGR
Table 40: Rest of Asia-Pacific Historic Review for Mobile
Speech Recognition Software by Segment - Mobile Speech
Recognition Software Markets - Independent Analysis of Annual
Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
LATIN AMERICA
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in Latin America for
2023 (E)
Table 41: Latin America Recent Past, Current & Future Analysis
for Mobile Speech Recognition Software by Geographic Region -
Argentina, Brazil, Mexico and Rest of Latin America Markets -
Independent Analysis of Annual Sales in US$ Thousand for Years
2022 through 2030 and % CAGR
Table 42: Latin America Historic Review for Mobile Speech
Recognition Software by Geographic Region - Argentina, Brazil,
Mexico and Rest of Latin America Markets - Independent Analysis
of Annual Sales in US$ Thousand for Years 2014 through 2021 and
% CAGR
Table 43: Latin America 16-Year Perspective for Mobile Speech
Recognition Software by Geographic Region - Percentage
Breakdown of Value Sales for Argentina, Brazil, Mexico and Rest
of Latin America Markets for Years 2014, 2023 & 2030
ARGENTINA
Table 44: Argentina Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 45: Argentina Historic Review for Mobile Speech
Recognition Software by Segment - Mobile Speech Recognition
Software Markets - Independent Analysis of Annual Sales in US$
Thousand for Years 2014 through 2021 and % CAGR
BRAZIL
Table 46: Brazil Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 47: Brazil Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
MEXICO
Table 48: Mexico Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 49: Mexico Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
REST OF LATIN AMERICA
Table 50: Rest of Latin America Recent Past, Current & Future
Analysis for Mobile Speech Recognition Software by Segment -
Mobile Speech Recognition Software - Independent Analysis of
Annual Sales in US$ Thousand for the Years 2022 through 2030
and % CAGR
Table 51: Rest of Latin America Historic Review for Mobile
Speech Recognition Software by Segment - Mobile Speech
Recognition Software Markets - Independent Analysis of Annual
Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
MIDDLE EAST
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in Middle East for 2023
(E)
Table 52: Middle East Recent Past, Current & Future Analysis
for Mobile Speech Recognition Software by Geographic Region -
Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets -
Independent Analysis of Annual Sales in US$ Thousand for
Years 2022 through 2030 and % CAGR
Table 53: Middle East Historic Review for Mobile Speech
Recognition Software by Geographic Region - Iran, Israel, Saudi
Arabia, UAE and Rest of Middle East Markets - Independent
Analysis of Annual Sales in US$ Thousand for Years 2014 through
2021 and % CAGR
Table 54: Middle East 16-Year Perspective for Mobile Speech
Recognition Software by Geographic Region - Percentage
Breakdown of Value Sales for Iran, Israel, Saudi Arabia, UAE
and Rest of Middle East Markets for Years 2014, 2023 & 2030
IRAN
Table 55: Iran Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 56: Iran Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
ISRAEL
Table 57: Israel Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 58: Israel Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
SAUDI ARABIA
Table 59: Saudi Arabia Recent Past, Current & Future Analysis
for Mobile Speech Recognition Software by Segment - Mobile
Speech Recognition Software - Independent Analysis of Annual
Sales in US$ Thousand for the Years 2022 through 2030 and %
CAGR
Table 60: Saudi Arabia Historic Review for Mobile Speech
Recognition Software by Segment - Mobile Speech Recognition
Software Markets - Independent Analysis of Annual Sales in US$
Thousand for Years 2014 through 2021 and % CAGR
UNITED ARAB EMIRATES
Table 61: UAE Recent Past, Current & Future Analysis for Mobile
Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 62: UAE Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
REST OF MIDDLE EAST
Table 63: Rest of Middle East Recent Past, Current & Future
Analysis for Mobile Speech Recognition Software by Segment -
Mobile Speech Recognition Software - Independent Analysis of
Annual Sales in US$ Thousand for the Years 2022 through 2030
and % CAGR
Table 64: Rest of Middle East Historic Review for Mobile Speech
Recognition Software by Segment - Mobile Speech Recognition
Software Markets - Independent Analysis of Annual Sales in US$
Thousand for Years 2014 through 2021 and % CAGR
AFRICA
Mobile Speech Recognition Software Market Presence - Strong/
Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
Table 65: Africa Recent Past, Current & Future Analysis for
Mobile Speech Recognition Software by Segment - Mobile Speech
Recognition Software - Independent Analysis of Annual Sales in
US$ Thousand for the Years 2022 through 2030 and % CAGR
Table 66: Africa Historic Review for Mobile Speech Recognition
Software by Segment - Mobile Speech Recognition Software
Markets - Independent Analysis of Annual Sales in US$ Thousand
for Years 2014 through 2021 and % CAGR
IV. COMPETITION
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