U.S. Voice Recognition Market size was valued at 251.2 million units in 2018. The market is estimated to exhibit the CAGR of over 16% from 2019 to 2025. The growing use of voice recognition technologies in advanced electronic devices and technological advancements are paving the way for the growth of the market. Increasing the use of voice recognition in biometric is a major driver. Voice-enabled biometric ensures security in offering access to genuine users while doing transactions.
The growing demand for
voice-based biometrics in enterprise applications and BFSI is likely to
attribute to the growth of the market. Further, increasing use of voice-based
in-car infotainment systems is estimated to augment the demand in the
automotive sector. In addition, the growing use of speech-based technology in
the mobile map for navigation is estimated to fuel the market growth.
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The key driving factors responsible for the growth of U.S. Voice
Recognition market :
With the growing use of IoT in
residential, commercial and industrial applications across the U.S, there has
been a significant rise in the number of consumers using connected devices.
This has resulted in the integration of various connected devices with voice
recognition technique, thereby, supplementing the growth of the market.
Voice recognition is rapidly
adopted in various consumers’ devices such as laptop, smartphone and
IoT-enabled equipment. Major market players in the U.S are emphasizing on
offering services including voice-based intelligent personal assistant software
and application. The growing trend of smart home automation is the other factor
projected to drive market growth. Such homes use voice commands to control room
temperature, lights and doors, thereby, attributing to the growth of the
market.
Growing technology adoption and
use of voice-based biometric systems to access core credentials are augmenting
the market growth. Further, consumers prefer voice-based biometrics to other
conventional authentication methods, which, in turn, is proliferating the
growth of the market.
Vertical Insights
On the basis of vertical, the
U.S. voice recognition market is categorized into legal, automotive, BFSI,
education, consumer, healthcare, retail, military and others. Among them,
consumer category held the largest share in the market in 2018. The increasing
technology application in home security and different connected devices across
the U.S are anticipated to augment market growth.
The automotive category is
anticipated to hold a considerable share in the U.S market over the forecast
period. Different automotive applications like car navigation, verbal commands
and remote control for the infotainment system are attributing to this growth.
To authenticate users, The United Services Automobile Association (USAA) usage
biometric systems that offer voice, face and fingerprint recognition. USAA
users can access their accounts using mobile. Thus, growing penetration of such
technology is fueling market growth.
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