The Speech and Voice Recognition Market size accounted for USD 14 billion in 2022 and is projected to expand to USD 83 billion by 2032, accelerating at a CAGR of 20%. This growth is attributed to the rise in digitalization, speech-based biometric systems, the demand for voice authentication in mobile banking applications, the improvement of end-use industries, the rise in speech and voice recognition technology penetration in smart appliances, and the use of AI to improve the accuracy of speech and voice recognition systems. Top trends in the global speech and voice recognition market include the growth of artificial intelligence, the development of machine learning, and the dominance of AI-powered devices.
