Overview

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

IBISWorld’s Speech & Voice Recognition Software Developers market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

REPORT SNAPSHOT

Market Share of Companies
Industry Statistics & Market Size
Revenue
$25bn
Annual Growth
11-16
9.1%
Annual Growth
16-21
Profit
Employment
56,588
Business
1,366

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
  • Speech recognition software is not yet at the end of its evolution as challenges remain unsolved

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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 Key Buyers Chapter

    Market share concentration within the Speech and Voice Recognition Software Developers industry is low. The largest player, Nuance Communications, holds less than 5.0% of the market, despite rapidly expanding through acquisitions. Although the company has purchased other players to enhance its product offerings and reach new markets, market consolidation has been limited. The reason for this is because new companies are steadily entering the industry, some offering a niche product targeted and marketed to one industry only. As the number of applications for industry products increases, the number of companies operating in the industry is expected to increase as well. Pre..

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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 Private investment in computers and software and Total health expenditure 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
  • Private investment in computers and software
  • Total health expenditure
  • Corporate profit
  • Percentage of services conducted online
  • Per capita disposable income
  • Price of computers and peripheral equipment

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

  • Industry Outlook
  • Challenges
  • Growth opportunities
  • Healthcare sector
  • Consolidation continues
  • 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 PCs and Macs
  • Recognition software for phones and tablets
  • Recognition software for automobiles
  • Other
  • Chart: Speech & Voice Recognition Software Developers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Healthcare sector
  • Consumer market
  • Enterprise market
  • Voice recognition
  • Government 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
  • Profit
  • Wages and the cost of product development
  • Purchases
  • Other
  • 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 (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Private investment in computers and software (2007-2021)

  • 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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