1 © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Fuel Cell Market size worth $25.5bn by 2024Low Power Wide Area Network Voice Recognition Market Share Analysis and Forecasts New Research Report : Global Market Insights Inc.

2 © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  North America is expected to dominate the voice recognition market, owing to the deployment of biometric systems on a large scale due to the increasing need of high level security.  The industry in the region is driven by increasing government initiatives to deploy biometric systems, particularly in the U.S.  The Asia Pacific voice recognition market is expected to grow at fast pace, due to increasing IoT applications and demand for voice technology.  Growing requirement of this technology from self-service sectors such as banking and call centers is expected to drive voice recognition market growth in the region. Regional Analysis of Voice Recognition Market :

3 © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  The voice recognition market is classified into artificial intelligence based and non-artificial intelligence based.  Artificial-intelligence based solutions segment is expected to gain momentum, owing to the ability of this technology to recognize speech patterns accurately.  AI transforms voice into well-structured algorithms in steps such as formulation, representation of speech units, demonstration of correct inputs, and development of recognition algorithms. Application Analysis of Voice Recognition Market :

4 © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Integration of this technology with automobiles is increasingly gaining popularity, owing to growing stringency in regulations pertaining to mobile phones use while driving and implementation of hands free rules.  Voice commands enhance driver and passenger safety by enabling them to concentrate on driving. Manual interfaces to enter data in navigation system involves risks. Therefore, voice recognition market growth is anticipated to surge, owing to the ability of speech destination entry to help drivers follow route correctly.  Benefits of this technology such as better productivity, easy accessibility, and flexibility are expected to drive demand. The lack of ability to recognize speech in regional accent and high price of AI based systems is expected to challenge the voice recognition market demand. Application Analysis of Voice Recognition Market :

5 © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Players in the voice recognition market include Nuance Communications, MMODAL Inc., Apple, Inc., Microsoft Inc., Sensory Inc., Agnitio SL, Advanced Voice Recognition Systems, Biotrust, ValidSoft UK Ltd., VoiceVault, M2SyS LLC, VoiceBox Technologies Corp., Raytheon BBN Technologies, and LumenVox LLC.  The voice recognition market is led by innovation and is highly competitive. Major players are increasingly focusing on increasing the accuracy of voice recognition to outwit the competitors. Competitive Market Share of Voice Recognition Market

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