The global speech and voice recognition market size is expected to be worth around USD 83 billion by 2032 from USD 14 billion in 2022, growing at a CAGR of 20% during the forecast period from 2023 to 2032.
Speech and voice recognition are deliberated as a small part of biometric systems. Speech recognition is used to recognize words in spoken language, while voice recognition is a biometric technology for identifying an individual’s voice.
Now, let's explore the hottest trend in the speech and voice recognition market: Integration Everywhere.
Integration: One big trend is that voice recognition is being built into all kinds of devices. Your phone, your smart home gadgets, and even your car can understand and respond to your voice commands. This makes technology more user-friendly and accessible.
Everywhere: Voice assistants like Siri, Alexa, and Google Assistant are popping up everywhere. They started as simple helpers but have grown into personal assistants that can control your lights, play music, and even tell jokes. This trend is all about making your interactions with technology feel natural and easy.