Global Mobile Speech Recognition Software Market to Reach $940.8 Million by 2030

NEW YORK, March 10, 2023 /PRNewswire/ -- The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

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Global Mobile Speech Recognition Software Market to Reach $940.8 Million by 2030

In the changed post COVID-19 business landscape, the global market for Mobile Speech Recognition Software estimated at US$328.8 Million in the year 2022, is projected to reach a revised size of US$940.8 Million by 2030, growing at a CAGR of 14% over the period 2022-2030.

The U.S. Market is Estimated at $89.6 Million, While China is Forecast to Grow at 18.8% CAGR

The Mobile Speech Recognition Software market in the U.S. is estimated at US$89.6 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$219.3 Million by the year 2030 trailing a CAGR of 18.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.2% and 11.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10.5% CAGR.

Select Competitors (Total 53 Featured)

- Advanced Voice Recognition Systems Inc.

- Amazon Inc.

- Apple Inc.

- AT&T, Inc.

- Baidu Inc.

- Cisco Systems Inc.

- Google Inc.

- IBM Corp.

- LumenVox LLC

- Microsoft Corp.

- Nuance Communications Inc.

- Sensory Inc.

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I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights

World Market Trajectories

Mobile Speech Recognition Technology: Delivering the Power of

Speech to Mobile Devices

Recent Market Activity

Speech Recognition Technology: An Indispensable Man-to-Machine

Communication Tool in New-Age Mobile Devices

Recent Advancements in Mobile Speech Recognition Summarized

Nuance Communications

Google Now

Apple?s Siri

Amazon?s Alexa

Baidu?s Deep Speech

Microsoft Cortana

IBM Watson

Global Market Outlook

Global Market Outlook

Developing Countries to Drive Global Growth in the Short-to-

Medium Term Period

China?s Speech Recognition Market: A Tough Nut to Crack for

Google?

Mobile Speech Recognition Software - Global Key Competitors

Percentage Market Share in 2022 (E)

Impact of Covid-19 and a Looming Global Recession

Competitive Market Presence - Strong/Active/Niche/Trivial for

Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

Advanced Voice Recognition Systems, Inc. (USA)

Amazon, Inc. (USA)

Apple, Inc. (USA)

AT&T, Inc. (USA)

Baidu, Inc. (China)

Cisco Systems, Inc. (USA)

Google, Inc. (USA)

International Business Machines Corporation (USA)

LumenVox LLC (USA)

Microsoft Corporation (USA)

Nuance Communications, Inc. (USA)

Sensory, Inc. (USA)

3. MARKET TRENDS & DRIVERS

Growing Prominence of Voice-Based User Interface Technologies

in Mobile Devices Drive Strong Market Growth

Sophisticated Conversational User Interfaces Set to Replace

Graphical User Interface (GUI)

Advancements in Processing Power Improves Speech Recognition

Efficiency

The Steadily Expanding Mobile Ecosystem Globally: An Important

Opportunity Indicator

Robust Demand for Smartphones Sets the Perfect Platform for

Market Growth

Despite Decline in Popularity, Feature-Rich and High-End

Tablets Sustain Demand for Mobile Speech Recognition

Mobile SMS: An Underutilized Feature with Huge Untapped

Potential for Mobile Speech Recognition Technology

Wearable & Hearable Devices: The Next Frontier to Conquer for

Mobile Speech Recognition Technology

Speech Recognition Coupled with Hearable Technology to

Transform User Experience

Emerging IoT to Widen Demand for Mobile Speech Recognition

Technology

Cloud-Based Speech Technology Solutions Enhance Performance and

Improves User Experience

Accuracy, Efficiency, and Response Time Benefits Spur Demand

for Automated Speech Recognition (ASR)

Mobile Speech Recognition Technology to Revolutionize Voice

Commerce and Voice Banking

Stringent Vehicle Driving Laws Augurs Well for Market Penetration

Use of Mobile Phone Navigation Applications Made Easy by Speech

Recognition

Focus on Employee Productivity & Efficiency to Drive Adoption

of Mobile SR in Enterprises

Growing Use of Voice Enabled Portals Drive Adoption in Enterprises

Speech Recognition Technologies to Drive Next Generation

Marketing Campaigns

Favorable Trends in the Communications Industry Strengthens

Market Prospects

Spurt in Internet Usage

Move towards Convergence

Proliferation of Embedded Devices

Rise in Social Networking

Substitution of Conventional Phone Services by VoIP

Key Factors Hampering Growth Prospects for Mobile Speech

Recognition

Limited Understanding of Words and Inability to Process Large

Vocabulary of Information

Low Accuracy due to Ambient Noise

Lack of Awareness

Need for Improvements in Processor Technology

High Cost of Speech Recognition Implementations

Noteworthy Trends in a Nutshell

Passwords Becoming More Prominent

Speech Recognition Integrating Voice Verification

Voice Search Gain Popularity

4. GLOBAL MARKET PERSPECTIVE

Table 1: World Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Geographic Region - USA,

Canada, Japan, China, Europe, Asia-Pacific, Latin America,

Middle East and Africa Markets - Independent Analysis of Annual

Sales in US$ Thousand for Years 2022 through 2030 and % CAGR

Table 2: World Historic Review for Mobile Speech Recognition

Software by Geographic Region - USA, Canada, Japan, China,

Europe, Asia-Pacific, Latin America, Middle East and Africa

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

Table 3: World 16-Year Perspective for Mobile Speech

Recognition Software by Geographic Region - Percentage

Breakdown of Value Sales for USA, Canada, Japan, China, Europe,

Asia-Pacific, Latin America, Middle East and Africa Markets for

Years 2014, 2023 & 2030

Table 4: World Mobile Speech Recognition Software Market

Analysis of Annual Sales in US$ Thousand for Years 2014 through

2030

III. MARKET ANALYSIS

UNITED STATES

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in the United States

for 2023 (E)

Table 5: USA Recent Past, Current & Future Analysis for Mobile

Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 6: USA Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

CANADA

Table 7: Canada Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 8: Canada Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

JAPAN

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)

Table 9: Japan Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 10: Japan Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

CHINA

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in China for 2023 (E)

Table 11: China Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 12: China Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

EUROPE

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)

Table 13: Europe Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Geographic Region -

France, Germany, Italy, UK, Spain, Russia and Rest of Europe

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2022 through 2030 and % CAGR

Table 14: Europe Historic Review for Mobile Speech Recognition

Software by Geographic Region - France, Germany, Italy, UK,

Spain, Russia and Rest of Europe Markets - Independent Analysis

of Annual Sales in US$ Thousand for Years 2014 through 2021 and

% CAGR

Table 15: Europe 16-Year Perspective for Mobile Speech

Recognition Software by Geographic Region - Percentage

Breakdown of Value Sales for France, Germany, Italy, UK, Spain,

Russia and Rest of Europe Markets for Years 2014, 2023 & 2030

FRANCE

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in France for 2023 (E)

Table 16: France Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 17: France Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

GERMANY

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)

Table 18: Germany Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 19: Germany Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

ITALY

Table 20: Italy Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 21: Italy Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

UNITED KINGDOM

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in the United Kingdom

for 2023 (E)

Table 22: UK Recent Past, Current & Future Analysis for Mobile

Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 23: UK Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

SPAIN

Table 24: Spain Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 25: Spain Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

RUSSIA

Table 26: Russia Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 27: Russia Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

REST OF EUROPE

Table 28: Rest of Europe Recent Past, Current & Future Analysis

for Mobile Speech Recognition Software by Segment - Mobile

Speech Recognition Software - Independent Analysis of Annual

Sales in US$ Thousand for the Years 2022 through 2030 and %

CAGR

Table 29: Rest of Europe Historic Review for Mobile Speech

Recognition Software by Segment - Mobile Speech Recognition

Software Markets - Independent Analysis of Annual Sales in US$

Thousand for Years 2014 through 2021 and % CAGR

ASIA-PACIFIC

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in Asia-Pacific for

2023 (E)

Table 30: Asia-Pacific Recent Past, Current & Future Analysis

for Mobile Speech Recognition Software by Geographic Region -

Australia, India, South Korea and Rest of Asia-Pacific Markets -

Independent Analysis of Annual Sales in US$ Thousand for

Years 2022 through 2030 and % CAGR

Table 31: Asia-Pacific Historic Review for Mobile Speech

Recognition Software by Geographic Region - Australia, India,

South Korea and Rest of Asia-Pacific Markets - Independent

Analysis of Annual Sales in US$ Thousand for Years 2014 through

2021 and % CAGR

Table 32: Asia-Pacific 16-Year Perspective for Mobile Speech

Recognition Software by Geographic Region - Percentage

Breakdown of Value Sales for Australia, India, South Korea and

Rest of Asia-Pacific Markets for Years 2014, 2023 & 2030

AUSTRALIA

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in Australia for 2023

(E)

Table 33: Australia Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 34: Australia Historic Review for Mobile Speech

Recognition Software by Segment - Mobile Speech Recognition

Software Markets - Independent Analysis of Annual Sales in US$

Thousand for Years 2014 through 2021 and % CAGR

INDIA

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in India for 2023 (E)

Table 35: India Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 36: India Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

SOUTH KOREA

Table 37: South Korea Recent Past, Current & Future Analysis

for Mobile Speech Recognition Software by Segment - Mobile

Speech Recognition Software - Independent Analysis of Annual

Sales in US$ Thousand for the Years 2022 through 2030 and %

CAGR

Table 38: South Korea Historic Review for Mobile Speech

Recognition Software by Segment - Mobile Speech Recognition

Software Markets - Independent Analysis of Annual Sales in US$

Thousand for Years 2014 through 2021 and % CAGR

REST OF ASIA-PACIFIC

Table 39: Rest of Asia-Pacific Recent Past, Current & Future

Analysis for Mobile Speech Recognition Software by Segment -

Mobile Speech Recognition Software - Independent Analysis of

Annual Sales in US$ Thousand for the Years 2022 through 2030

and % CAGR

Table 40: Rest of Asia-Pacific Historic Review for Mobile

Speech Recognition Software by Segment - Mobile Speech

Recognition Software Markets - Independent Analysis of Annual

Sales in US$ Thousand for Years 2014 through 2021 and % CAGR

LATIN AMERICA

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in Latin America for

2023 (E)

Table 41: Latin America Recent Past, Current & Future Analysis

for Mobile Speech Recognition Software by Geographic Region -

Argentina, Brazil, Mexico and Rest of Latin America Markets -

Independent Analysis of Annual Sales in US$ Thousand for Years

2022 through 2030 and % CAGR

Table 42: Latin America Historic Review for Mobile Speech

Recognition Software by Geographic Region - Argentina, Brazil,

Mexico and Rest of Latin America Markets - Independent Analysis

of Annual Sales in US$ Thousand for Years 2014 through 2021 and

% CAGR

Table 43: Latin America 16-Year Perspective for Mobile Speech

Recognition Software by Geographic Region - Percentage

Breakdown of Value Sales for Argentina, Brazil, Mexico and Rest

of Latin America Markets for Years 2014, 2023 & 2030

ARGENTINA

Table 44: Argentina Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 45: Argentina Historic Review for Mobile Speech

Recognition Software by Segment - Mobile Speech Recognition

Software Markets - Independent Analysis of Annual Sales in US$

Thousand for Years 2014 through 2021 and % CAGR

BRAZIL

Table 46: Brazil Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 47: Brazil Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

MEXICO

Table 48: Mexico Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 49: Mexico Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

REST OF LATIN AMERICA

Table 50: Rest of Latin America Recent Past, Current & Future

Analysis for Mobile Speech Recognition Software by Segment -

Mobile Speech Recognition Software - Independent Analysis of

Annual Sales in US$ Thousand for the Years 2022 through 2030

and % CAGR

Table 51: Rest of Latin America Historic Review for Mobile

Speech Recognition Software by Segment - Mobile Speech

Recognition Software Markets - Independent Analysis of Annual

Sales in US$ Thousand for Years 2014 through 2021 and % CAGR

MIDDLE EAST

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in Middle East for 2023

(E)

Table 52: Middle East Recent Past, Current & Future Analysis

for Mobile Speech Recognition Software by Geographic Region -

Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets -

Independent Analysis of Annual Sales in US$ Thousand for

Years 2022 through 2030 and % CAGR

Table 53: Middle East Historic Review for Mobile Speech

Recognition Software by Geographic Region - Iran, Israel, Saudi

Arabia, UAE and Rest of Middle East Markets - Independent

Analysis of Annual Sales in US$ Thousand for Years 2014 through

2021 and % CAGR

Table 54: Middle East 16-Year Perspective for Mobile Speech

Recognition Software by Geographic Region - Percentage

Breakdown of Value Sales for Iran, Israel, Saudi Arabia, UAE

and Rest of Middle East Markets for Years 2014, 2023 & 2030

IRAN

Table 55: Iran Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 56: Iran Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

ISRAEL

Table 57: Israel Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 58: Israel Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

SAUDI ARABIA

Table 59: Saudi Arabia Recent Past, Current & Future Analysis

for Mobile Speech Recognition Software by Segment - Mobile

Speech Recognition Software - Independent Analysis of Annual

Sales in US$ Thousand for the Years 2022 through 2030 and %

CAGR

Table 60: Saudi Arabia Historic Review for Mobile Speech

Recognition Software by Segment - Mobile Speech Recognition

Software Markets - Independent Analysis of Annual Sales in US$

Thousand for Years 2014 through 2021 and % CAGR

UNITED ARAB EMIRATES

Table 61: UAE Recent Past, Current & Future Analysis for Mobile

Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 62: UAE Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

REST OF MIDDLE EAST

Table 63: Rest of Middle East Recent Past, Current & Future

Analysis for Mobile Speech Recognition Software by Segment -

Mobile Speech Recognition Software - Independent Analysis of

Annual Sales in US$ Thousand for the Years 2022 through 2030

and % CAGR

Table 64: Rest of Middle East Historic Review for Mobile Speech

Recognition Software by Segment - Mobile Speech Recognition

Software Markets - Independent Analysis of Annual Sales in US$

Thousand for Years 2014 through 2021 and % CAGR

AFRICA

Mobile Speech Recognition Software Market Presence - Strong/

Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)

Table 65: Africa Recent Past, Current & Future Analysis for

Mobile Speech Recognition Software by Segment - Mobile Speech

Recognition Software - Independent Analysis of Annual Sales in

US$ Thousand for the Years 2022 through 2030 and % CAGR

Table 66: Africa Historic Review for Mobile Speech Recognition

Software by Segment - Mobile Speech Recognition Software

Markets - Independent Analysis of Annual Sales in US$ Thousand

for Years 2014 through 2021 and % CAGR

IV. COMPETITION

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