• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Major Growth Coming for Voice and Speech Recognition Market

August 24, 2018

“Clinical documentation in the healthcare market will be a leading driver going forward, Tractica says – good news for companies like Nuance Communications, which is already gaining a foothold with its Dragon Medical platform. “

Voice and Speech Recognition Market to Reach $6.9B by 2025: Tractica

Tractica is predicting some major growth for the voice and speech recognition market over the next several years. The market research firm predicts that it will rise from a value of $1.1 billion last year to $6.9 billion by the year 2025.

In a report summary, Tractica explained that these technologies have “undergone a transformation in recent years,” point to advancements in AI technology that have helped to propel the rise of voice interfaces for smartphones and other devices. As principal analyst Mark Beccue explained, “it was the emergence of smartphones and cloud computing that was the real game-changer for this market.”

And the technology is only getting better, with a number of major tech companies pouring R&D funding into the AI technology that is voice interaction’s backbone. “Increasingly, companies are building viable market use cases in which the human voice will control highly sophisticated, automated processes and operations,” the summary asserted.

Clinical documentation in the healthcare market will be a leading driver going forward, Tractica says – good news for companies like Nuance Communications, which is already gaining a foothold with its Dragon Medical platform. Nuance will also appreciate Tractica’s prediction that automotive virtual digital assistants will be another key driver; meanwhile, “voice commerce” will emerge as a third key factor. Other important use cases include “smart home controls, security and authentication, and voice search,” Tractica says.

(originally posted on FindBiometrics)

Filed Under: Industry News Tagged With: AI, Artificial Intelligence, Biometric, biometrics, industry trends, market analysis, market reports, market trends, speech recognition, Tractica, voice interfaces, voice recognition

Related News & Articles

Nymi Emphasizes COVID-era Benefits of v. 3.0 of Biometric Wearable

New Verato Solutions Designed to Integrate Telehealth Into Patient Records Management

ThreatMetrix Summer ’18 Release Delivers Two Big New Security Features

Primary Sidebar

Learn About Mobile ID and Aviation

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • HID Attains Anti-Spoofing Milestone With Lumidigm Fingerprint Biometrics
  • Video Interview: Learn How Biometrics Are Fighting AI-Enhanced Fraud with Onfido’s Therese Stowell
  • The Path to Biometric Universal Basic Income: Worldcoin Raises $115M in Series C Funding
  • Kenyan Officials Detail Ambitious Digital ID Plan
  • IDEMIA Brings Mobile ID to Missouri

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld