The speech recognition market stood at just above 7 billion U.S. dollars in 2024 and is expected to grow at a nearly 20 percent rate annually until the end of the decade in 2030.
Size of the speech recognition segment of the computer vision market globally from 2020 to 2030
(in billion U.S. dollars)
Data provided by Statista Market Insights are estimates.
Definition: Speech recognition, as a part of computer vision, focuses on converting spoken language into written text and/or commands. It involves the use of algorithms and machine learning models to analyze and interpret audio signals, recognizing and transcribing the spoken words into textual form. Speech recognition systems utilize techniques such as acoustic modeling, language modeling, and neural networks to accurately convert spoken language into written text. This technology has widespread applications, including voice assistants, dictation software, transcription services, call center automation, and hands-free control of devices, facilitating natural and efficient human-machine communication through spoken language.
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Statista. (September 10, 2024). Size of the speech recognition segment of the computer vision market globally from 2020 to 2030 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 16, 2024, from https://www.statista.com/forecasts/1491232/speech-recognition-market-size-worldwide
Statista. "Size of the speech recognition segment of the computer vision market globally from 2020 to 2030 (in billion U.S. dollars)." Chart. September 10, 2024. Statista. Accessed November 16, 2024. https://www.statista.com/forecasts/1491232/speech-recognition-market-size-worldwide
Statista. (2024). Size of the speech recognition segment of the computer vision market globally from 2020 to 2030 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 16, 2024. https://www.statista.com/forecasts/1491232/speech-recognition-market-size-worldwide
Statista. "Size of The Speech Recognition Segment of The Computer Vision Market Globally from 2020 to 2030 (in Billion U.S. Dollars)." Statista, Statista Inc., 10 Sep 2024, https://www.statista.com/forecasts/1491232/speech-recognition-market-size-worldwide
Statista, Size of the speech recognition segment of the computer vision market globally from 2020 to 2030 (in billion U.S. dollars) Statista, https://www.statista.com/forecasts/1491232/speech-recognition-market-size-worldwide (last visited November 16, 2024)
Size of the speech recognition segment of the computer vision market globally from 2020 to 2030 (in billion U.S. dollars) [Graph], Statista, September 10, 2024. [Online]. Available: https://www.statista.com/forecasts/1491232/speech-recognition-market-size-worldwide
