Overview

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

IBISWorld’s Speech & Voice Recognition Software Developers Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

REPORT SNAPSHOT

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

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

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    Industry Analysis & Industry Trends

    During the five years to 2016, the Voice Recognition Software Developers industry bounced back from recessionary lows as corporate profit and per capita disposable income began to rise. The industry has also benefited from the increasing number of mobile internet connections and the growing number of healthcare providers that have adopted electronic health records. In the five years to 2021, revenue is expected to continue increasing due to increased investment in computers and software, rising demand in downstream markets and a growing number of devices that incorporate the technology...

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    Industry Report - Industry Investment Chapter

    The Speech and Voice Recognition Software Developers industry is highly labor-intensive and has a low level of capital intensity. Using wages as a proxy for labor and depreciation as a proxy for capital, IBISWorld estimates that for every dollar spent on labor in 2016, only $0.05 is absorbed by depreciation. Depreciation expenses, stemming mainly from purchased computers and office space, are inherently low in this industry. Employees and time are the two most important resources developers require to produce software. Since the skills and experience of software programmers determine the quality of the software, industry players place a high priority on attracting highly skilled employees. In 2016, wages are estimated to account for 33.5% of industry revenue. As ..

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    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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    Industry Products

    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 PCs and Macs
    Recognition software for phones and tablets
    Recognition software for automobiles
    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

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    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

  • Products & Markets
    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
    Competitive Landscape
    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
    Major Companies
    Nuance Communications Inc.
  • Table: Nuance Communications Inc. - financial performance

  • Operating Conditions
    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
    Key Statistics
    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
    Jargon & Glossary
    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.
  • Why buy this report?

    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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