Speech recognition market size worldwide 2024

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)

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Supplementary notes

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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