According to the results of a recent study done on the online search functions of the websites of 50 retailers in the United Kingdom (UK), none of the fashion retailers utilized image based or voice activated search function on their websites.

According to the source, among the respondents who use the voice assistant on their smartphones, around ** percent stated that they use it to call or text someone, making it the most common voice command used on smartphones. The second most commonly used task is searching the web, with ** percent of respondents using this command.

Recent developments include: In October 2022, the University of Illinois Urbana-Champaign (UIUC) announced a partnership with Apple Inc. and other tech giants on a new Speech Accessibility Project. This project seeks to advance voice recognition technology to cater to individuals with speech anomalies and disabilities , In September 2021, Gnani Innovations Private Limited, an India-based conversational AI technology and voice security company, announced the release of armour365, its voice-based biometrics software. The biometric system finds applications in a variety of industries including banking, military, and healthcare .

Baidu's self-developed voice assistant DuerOS, which is equivalent of Alexa, Google Assistant, and Siri, has been rapidly gaining ground in the global market. In the first quarter of 2021, the Chinese language voice assistant achieved *** billion of monthly voice queries.

According to Cognitive Market Research, the global Speech and Voice Recognition market size was USD 9615.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 25.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 3846.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2884.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2211.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 27.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 480.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 192.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.9% from 2024 to 2031.
The speech recognition category is the fastest growing segment of the Speech and Voice Recognition industry

Market Dynamics of Speech and Voice Recognition Market

Key Drivers for Speech and Voice Recognition Market

Growing Consumer Requirement for Smart Electronics to Boost Market Growth

Going forward, the market for speech and voice recognition is anticipated to rise at a rapid pace due to rising consumer demand for smart gadgets. Technological devices that can connect, share, and communicate with other smart devices, as well as their users, are referred to as smart devices. Speech and voice recognition technologies are used by smart devices to recognize spoken words from their sounds, translate them into text, and answer questions from the speaker. For instance, in April 2021, 2 out of every 3 Americans wanted a smart home device, according to Security.org, a US-based company that offers information on safety and security issues. In an effort to improve the energy efficiency of their homes, over 40% of Americans purchased smart devices. Moreover, 78% of purchasers are willing to pay extra for a house equipped with smart technology. Thus, the market for speech and voice recognition is expanding due to growing customer demand for smart gadgets.

Growing Need for Telemedicine and Telehealth to Drive Market Growth

Speech and voice recognition market growth is anticipated to be driven in the future by the rise in telehealth and telemedicine. Whereas telemedicine focuses on remote clinical consultations and healthcare delivery, telehealth refers to the use of telecommunications technology to provide a broad range of healthcare services and information remotely. Voice recognition technology allows for real-time clinical decision assistance, prescription management, and better accessibility for people with disabilities in telehealth applications. It also helps to expand the market. Healthcare communication and delivery are becoming more innovative as telemedicine becomes more common, which increases demand for speech and voice recognition technologies. For instance, in October 2022, the US government's Centers for Disease Control and Prevention reported that 37.0% of individuals in 2021 had used telemedicine at some point in the previous year. As a result, the market for speech and voice recognition is expanding due to the rise in telehealth and telemedicine.

Restraint Factor for the Speech and Voice Recognition Market

Accuracy and Speaker Diarization in a Multilingual Approach Will Limit Market Growth

Engineers and developers have been working to overcome challenges with speech software as voice technology continues to progress. Speaker identification, accent, technical terms and jargon, background noise, and fluency are among the factors that are commonly observed impeding the smooth functioning of voice and voice recognition systems. The development of accuracy for languages other than American English is one of the largest problems in speech. In 2021, over 30.4% and 21.2% of respondents, respectively, reported having issues with accent and dialect, according to the Speechmatics Voice survey. As voice-based technologies improve at distinguishing and identifying user voices, they will continue...

This dataset is an extension of the Spoken Conversational Search dataset, specifically of the SCSdataset.csv, with annotations of types of meta-information mentioned in each turn.

The net cash of Advanced Voice Recognition Sys with headquarters in the United States amounted to ******* thousand U.S. dollars in 2023. The reported fiscal year ends on June 30.Compared to the earliest depicted value from 2019 this is a total decrease by approximately ****** thousand U.S. dollars. The trend from 2019 to 2023 shows, however, that this decrease did not happen continuously.

The size of the Far Field Speech and Voice Recognition Market market was valued at USD 5.1 Billion in 2024 and is projected to reach USD 16.57 Billion by 2033, with an expected CAGR of 18.33% during the forecast period. Recent developments include: September 2021: IBM Corporation launched additional automation and Al capabilities in IBM Watson Assistant to make it easy for firms to create great customer experiences. This launch includes a new partnership with IntelePeer to test a voice agent. IntelePeer is a Communications Platform-as-a-Service provider., June 2021: Voiceitt has launched a new app on the Apple App Store. Individuals, institutions, nursing homes, and organizations can all download the software for free to enable folks with speech difficulties to navigate their environments and manage smart home devices with their voices.. Key drivers for this market are: The growing demand for voice-activated devices The development of new technologies, such as deep learning algorithms and new microphone arrays The integration of far field speech and voice recognition with other technologies, such as natural language processing The growth of the smart home market. Potential restraints include: The need for high-quality microphones and DSPs The need for robust algorithms to recognize speech in noisy environments The need for user-friendly software The concerns about privacy and security. Notable trends are: The growing demand for voice-activated devices is driving the growth of the far field speech and voice recognition market. The development of new technologies, such as deep learning algorithms and new microphone arrays, is improving the accuracy and performance of far field speech and voice recognition systems. The integration of far field speech and voice recognition with other technologies, such as natural language processing, is creating new opportunities for these systems. The growth of the smart home market is creating new opportunities for far field speech and voice recognition systems..

Global Speech and Voice Recognition Market size was valued at USD 7.56 billion in 2021 and is poised to grow from USD 9.4 billion in 2022 to USD 53.94 billion by 2030, growing at a CAGR of 24.4% in the forecast period (2023-2030).

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Voice Commerce Market Size 2025-2029

The voice commerce market size is forecast to increase by USD 80.21 billion, at a CAGR of 22.7% between 2024 and 2029.

The market is experiencing significant growth, driven by the enhanced purchasing convenience offered by voice-enabled devices. This trend is fueled by the increasing popularity of smart speakers and virtual assistants, enabling consumers to place orders through simple voice commands. However, the market faces challenges related to data privacy and security concerns. As more transactions move to voice commerce, ensuring secure and private data handling becomes paramount. Companies must prioritize robust security measures to build consumer trust and mitigate potential risks. Navigating this landscape requires a strategic approach, with a focus on delivering seamless voice shopping experiences while addressing data security concerns. Companies that successfully balance convenience and security will be well-positioned to capitalize on the growing the market.

What will be the Size of the Voice Commerce Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, with integration of e-commerce platforms and IoT devices driving growth. Voice assistants and voice bots enhance user experience (UX) by enabling hands-free shopping and interaction with smart speakers. Response time and brand building are key performance metrics, as customer engagement relies on seamless voice interactions. Deep learning and machine learning (ML) technologies power speech recognition, data annotation, and conversational AI, improving error handling and voice search optimization. Speech synthesis and contextual awareness add value, while call center automation streamlines customer service. Voice shopping and voice-enabled devices expand application areas, with wearable technology and automotive integration on the horizon. Training data and user interface (UI) design are crucial for model evaluation and deployment models. Voice data analytics, payment gateways, marketing automation, and data encryption ensure security. Neural networks and intent recognition enhance model training and dialogue management. Voice authentication, smart home integration, and privacy concerns shape the market landscape. API integrations and voice cloning detection are essential for maintaining trust and security. Voice payments and voice analytics are transforming the retail sector, with potential applications in various industries. The ongoing unfolding of market activities and evolving patterns underscore the dynamic nature of voice commerce.

How is this Voice Commerce Industry segmented?

The voice commerce industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ApplicationPersonal careElectronicsHousehold appliancesGroceriesOthersGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth AmericaBrazilRest of World (ROW)

By Application Insights

The personal care segment is estimated to witness significant growth during the forecast period.The market is experiencing significant growth and innovation, driven by the integration of e-commerce platforms and the Internet of Things (IoT) with voice assistants and bots. User experience (UX) plays a crucial role in this market, with response time and brand building being key factors for customer engagement. Deep learning and machine learning (ML) technologies, such as acoustic modeling and speech recognition, enable conversational AI and improve model evaluation and training. Voice search optimization and speech synthesis enhance the user experience, while contextual awareness and call center automation streamline customer service. Smart speakers and voice-activated features are transforming the way we shop, with voice commerce platforms and payment gateways facilitating voice shopping. Wearable technology and automotive integration expand the market's reach, while data encryption and cloud computing ensure data security. Language modeling and error handling improve performance metrics, and neural networks and intent recognition enable advanced features like voice biometrics and voice cloning detection. Voice commerce platforms and mobile applications offer new opportunities for marketing automation and voice authentication, while dialogue management and smart home integration create seamless user experiences. Privacy concerns and API integrations are important considerations for businesses entering this market. With the increasing popularity of voice-enabled devices, the market is poised for continued growth and innovation.

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The Personal ca

The liabilities of Advanced Voice Recognition Sys with headquarters in the United States amounted to ****** thousand U.S. dollars in 2024. The reported fiscal year ends on *******.Compared to the earliest depicted value from 2020 this is a total decrease by approximately ***** thousand U.S. dollars. The trend from 2020 to 2024 shows, however, that this decrease did not happen continuously.

According to a study, browsing for new products was the most common voice-command purchase activity in the United States as of 2021, performed by more than ** percent of users surveyed. Meanwhile, about a third (** percent) of U.S. respondents reported using voice commands for product search. In addition, over ** percent of users surveyed stated that they used voice assistants to make impulse purchases.

Embedded Systems: Integrated into vehicle dashboards, offering seamless hands-free control.Hybrid Systems: Combine embedded systems with cloud-based recognition for improved accuracy and functionality. Recent developments include: In March 2023, Google AI released an update for its Universal Speech Model – USM – in support of the 1000 Languages Initiative. The concept of a universal speech model involves using machine learning algorithms to comprehend spoken languages from different ethnicities as well as regions worldwide. USM is a family of advanced speech models with two billion parameters trained on data consisting of twelve million hours’ worth of audio samples across three hundred languages containing twenty-eight billion sentences, according to Google. ASR, under these conditions, could perform better than other such systems in another language like Mandarin or English besides less-resourced ones, including Assamese, Amharic, Cebuano, or Azerbaijani, as per Google’s claims., In April 2022, Verint introduced its latest solution, Virtual Assistant IVA, to the public, which is a low-code conversational AI. It can instantly transform existing conversation data into automated self-service experiences. This chatbot is ready for use as it is required. Businesses may need it to deflect calls and support clients. Verint IVA scales business capabilities with unlimited intelligence for voice and digital across the enterprise, In September 2021, Microsoft and Nuance Communications announced the integration of Nuance Dragon Ambient Experience (DAX), an ambient clinical intelligence (ACI) solution made by the company, into Microsoft Teams, aiming not only at increasing physician satisfaction but also at promoting better health outcomes for patients.. Key drivers for this market are: Rising preference for hands-free driving experiences

Enhanced safety features enabled by voice control. Potential restraints include: Privacy concerns related to data collection

Technical challenges in noisy environments. Notable trends are: Integration with virtual assistants for personalized experiences

Development of multimodal systems combining voice and gesture recognition.

According to the results of a recent study done on the online search functions of the websites of 50 retailers in the United Kingdom (UK), 13 percent of the retailers specializing in home and garden products have enabled voice activated search on their websites. This share was slightly higher for those that enabled image-based search in the same category of retailers.

Voice technology, widely adopted by media companies, reduces costs, improves productivity and operational efficiency, generating a competitive edge and an enhanced product. The use of voice technology in subtitling and closed captioning was highlighted by ** percent of the industry professionals surveyed for the 2021 study.

The global automatic content recognition market in 2019 is approximately USD 1,700 Million and is anticipated to reach around USD 12,700 Million by 2026. The anticipated CAGR for the automatic content recognition market is around 30% from 2020 to 2026.

Le marché mondial de la reconnaissance automatique de contenu en 2019 est d'environ 1,700 12,700 millions USD et devrait atteindre environ 2026 30 millions USD d'ici 2020. Le TCAC prévu pour le marché de la reconnaissance automatique de contenu est d'environ 2026 % de XNUMX à XNUMX.

Thị trường nhận dạng nội dung tự động toàn cầu năm 2019 có giá trị khoảng 1,700 triệu đô la Mỹ và dự kiến ​​sẽ đạt khoảng 12,700 triệu đô la Mỹ vào năm 2026. Tốc độ tăng trưởng kép hàng năm (CAGR) dự kiến ​​cho thị trường nhận dạng nội dung tự động là khoảng 30% từ năm 2020 đến năm 2026.

Not every website can process complex search queries and voice searches. A 2021 study conducted on e-commerce sites in Nordic countries showed that only ** percent of users would see results matching the entered online search query. Another ** percent of online users stated that the returned results had relevance with the search, meaning that the interaction with users was partially successful. Most users confronted themselves with websites unable to differentiate between the different attributes of the query.

In 2020, there will be *** billion digital voice assistants being used in devices around the world. Forecasts suggest that by 2024, the number of digital voice assistants will reach *** billion units – a number higher than the world’s population. Virtual assistants Virtual assistants, an increasingly commonplace feature of many consumer electronics devices, can respond to commands, provide users with information, and assist in the control of other connected electronics. There are over *** million virtual assistant users in the United States alone, and the software is especially common in smartphones and smart speakers. As of 2019, Amazon’s Alexa was supported on around ****** different smart home devices around the world, providing an excellent example of just how popular the software has become. “Smart” everything Virtual assistants have become a key component of the smart device industry, being absolutely integral to the way that consumers interact with their devices. As the industry grows and its technology becomes more advanced, companies are increasingly searching for bigger and better uses of “smart” technology. Tech savvy consumers can now communicate with their connected homes and vehicles in much the same way that they can with their smartphones.