Automatic Speech Recognition (ASR) Software Market Overview
The Automatic Speech Recognition (ASR) Software Market is forecast to reach USD 22.87 billion by 2029. The ASR software market is expected to grow at a CAGR of 13.1% from 2022 to 2029. The ASR software market is driven by the increasing demand for voice-enabled services and applications, the need for efficient and accurate speech recognition, and the increasing adoption of ASR technology in various industries. However, the high cost of ASR solutions and the lack of skilled resources are restraining the growth of the ASR software market. The report provides a detailed overview of the ASR software market and includes key insights, drivers, restraints, opportunities, challenges, and threats. It also covers the global ASR software market size with respect to volume (‘000 units) and value (USD million).
Automatic speech recognition (ASR) software is a type of computer software that is used to automatically recognize and transcribe human speech into text. ASR software can be used for a variety of applications, such as dictation, transcription, and voice control.
The increasing demand for ASR software in various applications such as automotive, consumer electronics, healthcare, and others is expected to drive the growth of the global ASR software market.
The automotive industry is one of the major contributors to the growth of the ASR software market. The rising demand for advanced safety features in vehicles is resulting in the increased adoption of ASR software in automobiles. In addition, the growing trend of hands-free operation and infotainment systems in automobiles is also fuelling the growth of ASR software market.
The healthcare sector is another major application area for ASR software. The increasing adoption of ASR solutions in various healthcare applications such as disease diagnosis, patient monitoring, and others is driving the growth of this market segment.
Apart from these, other important application areas for ASR software include consumer electronics, education & training, banking & finance, and others.
Report Includes
An overview of the global Automatic Speech Recognition (ASR) Software market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2029. It also includes breakdowns of the overall Automatic Speech Recognition (ASR) Software market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the Automatic Speech Recognition (ASR) Software market and comprehensive profiles of leading companies in the industry
Report Scope
The report forecasts the size of the Automatic Speech Recognition (ASR) Software market for components from 2022 through 2029
The Executive Summary provides a snapshot of key findings of the report. The introduction chapter includes research scope, market segmentation, research methodology, and definitions and assumptions. It involves extreme rigorous scientific methods, tools and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with the industry experts and professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, latest technological advancement, regulatory landscape, SWOT analysis, and porters five forces analysis. This chapter provides detailed insights of market which derives the market trends, changing phase of investments, scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes the profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, the data triangulation and market breakdown procedures is being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
Segmentation Analysis
The global automatic speech recognition (ASR) software market is segmented on the basis of type, application, and geography.
Type: The ASR software market is classified into cloud-based, on-premise, and hybrid.
Application: The ASR software market is further classified into call centers, automotive & transportation, healthcare, consumer electronics, BFSI, and others.
Geography: The ASR software market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is the largest market for ASR software followed by Europe. This is attributed to the early adoption of new technologies in these regions. Moreover, the presence of key players in these regions also contributes to the growth of the ASR software market in these regions.
The Asia Pacific region is expected to witness the highest growth rate during the forecast period due to the increasing demand for ASR software from various end-use industries such as healthcare and automotive & transportation in this region.
Global Automatic Speech Recognition (ASR) Software market Competitive Analysis:
Key players in the Global Automatic Speech Recognition (ASR) Software market are Brainasoft, Nuance, LilySpeech, Smart Action Company, Lyrix, Go Transcribe, Protokol, NeoSpeech, Entrada, Castel Communications, Crescendo Systems, Openstream, VoltDelta, Voicepoint, Total Voice Technologies. among other players.
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This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2029. Global Automatic Speech Recognition (ASR) Software market is distributed on the basis of the below-mentioned segments:
Global Automatic Speech Recognition (ASR) Software market, By Type:
- Recognition Software for PCs and Macs
- Recognition Software for Phones and Tablets
- Recognition Software for Automobiles
- Others
Global Automatic Speech Recognition (ASR) Software market, By Application:
- In-car Systems
- Health Care
- Military
- Telephone
- Others
Global Automatic Speech Recognition (ASR) Software market, By Region:
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
List of Figures
Figure 1: Global Automatic Speech Recognition (ASR) Software Market Revenue Breakdown (USD Billion, %) by Region, 2022 & 2029
Figure 2: Global Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 1, 2022 & 2029
Figure 3: Global Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 4: Global Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 5: Global Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 2, 2022 & 2029
Figure 6: Global Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 7: Global Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 8: Global Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 9: Global Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 10: Global Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 3, 2022 & 2029
Figure 11: Global Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 12: Global Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 13: Global Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 14: Global Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 15: Global Automatic Speech Recognition (ASR) Software Market Value (USD Billion), by Region, 2022 & 2029
Figure 16: North America Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 1, 2022 & 2029
Figure 17: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 18: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 19: North America Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 2, 2022 & 2029
Figure 20: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 21: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 22: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 23: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 24: North America Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 3, 2022 & 2029
Figure 25: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 26: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 27: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 28: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 29: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by U.S., 2018-2029
Figure 30: North America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Canada, 2018-2029
Figure 31: Latin America Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 1, 2022 & 2029
Figure 32: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 33: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 34: Latin America Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 2, 2022 & 2029
Figure 35: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 36: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 37: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 38: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 39: Latin America Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 3, 2022 & 2029
Figure 40: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 41: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 42: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 43: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 44: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Brazil, 2018-2029
Figure 45: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Mexico, 2018-2029
Figure 46: Latin America Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Rest of Latin America, 2018-2029
Figure 47: Europe Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 1, 2022 & 2029
Figure 48: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 49: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 50: Europe Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 2, 2022 & 2029
Figure 51: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 52: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 53: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 54: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 55: Europe Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 3, 2022 & 2029
Figure 56: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 57: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 58: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 59: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 60: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by U.K., 2018-2029
Figure 61: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Germany, 2018-2029
Figure 62: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by France, 2018-2029
Figure 63: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Italy, 2018-2029
Figure 64: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Spain, 2018-2029
Figure 65: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Russia, 2018-2029
Figure 66: Europe Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Rest of Europe, 2018-2029
Figure 67: Asia Pacific Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 1, 2022 & 2029
Figure 68: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 69: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 70: Asia Pacific Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 2, 2022 & 2029
Figure 71: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 72: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 73: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 74: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 75: Asia Pacific Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 3, 2022 & 2029
Figure 76: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 77: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 78: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 79: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 80: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by China, 2018-2029
Figure 81: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by India, 2018-2029
Figure 82: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Japan, 2018-2029
Figure 83: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Australia, 2018-2029
Figure 84: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Southeast Asia, 2018-2029
Figure 85: Asia Pacific Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Rest of Asia Pacific, 2018-2029
Figure 86: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 1, 2022 & 2029
Figure 87: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 88: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 89: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 2, 2022 & 2029
Figure 90: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 91: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 92: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 93: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 94: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Value Share (%), By Segment 3, 2022 & 2029
Figure 95: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 1, 2018-2029
Figure 96: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 2, 2018-2029
Figure 97: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Sub-Segment 3, 2018-2029
Figure 98: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Others, 2018-2029
Figure 99: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by GCC, 2018-2029
Figure 100: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by South Africa, 2018-2029
Figure 101: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Forecast (USD Billion), by Rest of Middle East & Africa, 2018-2029
List of Tables
Table 1: Global Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2029
Table 2: Global Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2029
Table 3: Global Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2029
Table 4: Global Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Region, 2018-2029
Table 5: North America Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2029
Table 6: North America Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2029
Table 7: North America Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2029
Table 8: North America Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Country, 2018-2029
Table 9: Europe Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2029
Table 10: Europe Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2029
Table 11: Europe Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2029
Table 12: Europe Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Country, 2018-2029
Table 13: Latin America Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2029
Table 14: Latin America Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2029
Table 15: Latin America Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2029
Table 16: Latin America Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Country, 2018-2029
Table 17: Asia Pacific Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2029
Table 18: Asia Pacific Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2029
Table 19: Asia Pacific Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2029
Table 20: Asia Pacific Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Country, 2018-2029
Table 21: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2029
Table 22: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2029
Table 23: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2029
Table 24: Middle East & Africa Automatic Speech Recognition (ASR) Software Market Revenue (USD Billion) Forecast, by Country, 2018-2029
Research Process
Data Library Research are conducted by industry experts who offer insight on
industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager
and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Primary Research
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
