Roger that: Advances in technology and a desire for convenience will support revenue growth

Revenue for the Speech and Voice Recognition Software Developers industry is expected to increase over the five years to 2017. Speech recognition software captures spoken words and converts them into a digital format, recognizing the articulated words of the speaker. Voice recognition can be used like a fingerprint and is aimed toward identifying the speaker, often for security purposes, using voice biometrics solutions. Software developers in this industry license products to companies that produce mobile and consumer devices including cell phones and global positioning systems. The industry has benefited, and is expected to continue benefiting, from the increasing number of mobile internet connections...purchase to read more.

Industry Statistics & Market Size
Revenue
$13bn
Annual Growth 12-17
17.0%
Forecast Growth 17-22
Profit
Employment
32,963
Businesses
462
Market Share of Companies

Industry Threats & Opportunities

  • Increasing per capita disposable income and corporate profit are expected to drive growth
  • Changes in the healthcare sector have contributed to increased demand from the healthcare market
  • The rising number of smartphones has boosted demand for applications that incorporate the industry’s technology
  • Industry Report - Industry SWOT Analysis Chapter

    The Speech and Voice Recognition Software Developers industry is in the growth stage of the industry life cycle. In the 10 years to 2022, IBISWorld estimates that the industry’s contribution to the overall economy, as measured by industry value added, will grow at an annualized rate of 13.1%. Gross domestic product is forecast to grow at an annualized rate of 2.1% over the same period.Industry growth is largely driven by the sale of electronic products that incorporate voice recognition software, including cell phones and GPS systems. Over the next five years, an increasing number of products are expected to rely on voice recognition software, including home appliances and wearable technology. Con...purchase to read more.

    Additional Insights for the Speech & Voice Recognition Software Developers Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Speech & Voice Recognition Software Developers Industry are

  • Access to highly skilled workforce
  • Access to the latest available and most efficient technology and techniques
  • Undertaking technical research and development
  • IBISWorld analysts also discuss how external factors such as Number of mobile internet connections and Per capita disposable income in the Speech & Voice Recognition Software Developers industry impact industry performance..

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    What's in this report

    What is the Speech & Voice Recognition Software Developers Industry?

    Companies in this industry develop speech and voice recognition software. Voice recognition software uses the individual’s voice for recognition purposes while speech recognition is the ability of a machine to understand and carry out spoken commands by interpreting articulated words.

    Industry Products
  • Recognition software for computers
  • Recognition software for phones and tablets
  • Recognition software for healthcare
  • Industry Activities
  • Development of software products for PCs
  • Development of software products for Macs
  • Development of software products for mobile devices
  • Development of software products for automobiles
  • Development of other voice and speech recognition products
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of mobile internet connections
  • Per capita disposable income
  • Percentage of services conducted online
  • New car sales
  • Private investment in computers and software
  • Total health expenditure

  • Current Performance
  • Demand from mobile connections on the rise
  • Healthcare represents a growing market
  • Industry profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Challenges
  • Growth opportunities
  • Healthcare sector
  • More competition for increased opportunities
  • Table: Speech & Voice Recognition Software Developers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Speech & Voice Recognition Software Developers Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Computer Stores
  • Professional, Scientific and Technical Services
  • Healthcare and Social Assistance
  • Consumers

  • Key Selling Industries
  • Computer Manufacturing
  • Intellectual Property Licensing
  • Operating Systems & Productivity Software Publishing

  • Products & Services
  • Recognition software for phones and tablets
  • Recognition software for healthcare
  • Recognition software for computers
  • Other
  • Chart: Speech & Voice Recognition Software Developers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Consumer market
  • Enterprise market
  • Healthcare sector
  • Chart: Major Market Segmentation for the Speech & Voice Recognition Software Developers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWages and the cost of product developmentPurchasesOther
  • Chart: Cost Structure Benchmarking – Sector vs Speech & Voice Recognition Software Developers

  • Basis of Competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Speech & Voice Recognition Software Developers Industry

  • Industry Globalization
    Nuance Communications Inc.,
  • Table: Nuance Communications Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Speech & Voice Recognition Software Developers Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Speech & Voice Recognition Software Developers Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Private investment in computers and software (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Electronic Health Record (Ehr)
  • Electronic health information that is collected about individual patients.
  • Open Source Software
  • Software that is available at no cost to the user but has restricted usage rights.
  • Software As A Service (Saas)
  • An increasingly popular business model for selling software online. With SaaS, customers do not buy a discrete copy of software but pay a subscription fee instead.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Industry Market Report on Speech & Voice Recognition Software Developers is a comprehensive guide to market size and growth prospects. Ensure due diligence in your research with our strategic analysis of the factors influencing companies, including new product developments; economic, lifestyle and demographic influences; distribution and supply chain factors; and pricing issues.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Speech & Voice Recognition Software Developers:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Speech & Voice Recognition Software Developers market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Speech & Voice Recognition Software Developers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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