Speech and Voice Recognition Market worth $23.11 billion by 2030 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Aug. 26, 2025 /PRNewswire/ -- The global speech and voice recognition market is projected to grow from USD 9.66 billion in 2025 to USD 23.11 billion by 2030, at a CAGR of 19.1% according to a new report by MarketsandMarkets™. The demand for speech and voice recognition is increasing due to the global shift toward hands-free, efficient, and intuitive user interfaces across industries. As smart devices and voice assistants become part of daily life, users expect seamless voice interaction for tasks like searching, controlling devices, and communicating. Businesses are adopting voice AI to enhance customer service, automate workflows, and improve accessibility. The rise in remote work, digital banking, and connected vehicles has further fueled adoption. Additionally, advancements in AI and multilingual support are expanding use in emerging markets, while security needs are driving growth in voice biometrics.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=202401714

Browse in-depth TOC on "Speech and Voice Recognition Market" 

185 – Tables
125 – Figures
290 – Pages

Speech and Voice Recognition Market Scope:

By technology, the automatic speech recognition segment captured the majority of market share in 2024.

The automatic speech recognition (ASR) segment captured the majority of the speech and voice recognition market in 2024 due to its widespread application across industries such as customer service, healthcare, education, and media. ASR enables real-time transcription, voice commands, and audio content indexing, significantly improving productivity and accessibility. Its integration into virtual assistants, call centers, and conferencing platforms has grown rapidly with the rise of remote work and digital transformation. Enhanced accuracy through AI and machine learning, along with support for multiple languages and dialects, has further driven adoption, making ASR the dominant technology within the market.

By deployment mode, the cloud segment is expected to exhibit the highest CAGR in the speech and voice recognition market during the forecast period.

Cloud deployment of speech and voice recognition solutions is growing at the highest rate due to its scalability, cost-effectiveness, and ease of integration across platforms. Cloud-based models allow businesses to access advanced speech recognition capabilities without investing heavily in on-premises infrastructure. This is particularly valuable for startups and SMEs seeking flexibility and faster deployment. The cloud also enables real-time processing, updates, and maintenance, ensuring continuous performance improvement and security. As remote work, virtual collaboration, and digital services expand globally, cloud solutions support seamless voice interfaces across devices and locations. Cloud platforms like AWS, Azure, and Google Cloud also offer pre-trained voice AI models, APIs, and tools that accelerate development and customization. Industries such as e-commerce, healthcare, and finance benefit from cloud-hosted voice applications for transcription, customer support, and secure user authentication. The growing demand for multilingual, always-accessible, and easily scalable solutions positions cloud deployment as the fastest-growing segment in this market.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=202401714

By region, Asia Pacific is likely to be the fastest-growing market during the forecast period.

Asia Pacific is expected to grow at the highest CAGR in the speech and voice recognition industry due to rapid digital transformation, increasing smartphone penetration, and rising adoption of AI-driven technologies across emerging economies like India, China, and Southeast Asia. Governments and enterprises are investing in smart city projects, e-governance, and automation, which rely heavily on voice-based interfaces for improved accessibility and user engagement. Additionally, the demand for multilingual and vernacular voice solutions is driving innovation tailored to the region's linguistic diversity. Expanding internet connectivity, a booming consumer electronics market, and growing awareness of contactless and voice-enabled services further fuel this accelerated growth.

Key Players

The speech and voice recognition companies includes several Tier I and II players, including Apple Inc (US), Microsoft (US), IBM (US), Alphabet (US), Amazon (US), Baidu (China), Verint Systems Inc. (US), iFlytek Co., Ltd. (China), and Speechmatics (UK).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=202401714

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

See More Latest Semiconductor Reports:

HVDC Transmission Market by LCC, VSC, CCC, Converter Stations, Transmission Cables, Point-to-Point Transmission, Back-to-Back Stations, Multi Terminal Systems, Bulk Power Transmission and Interconnecting Grids - Global Forecast to 2030

LiDAR Market by Installation (Airborne, Ground-based), Type (Mechanical, Solid-state), Range (Short, Medium, Long), Service Aerial Surveying, Asset Management, GIS Services, Ground-based Surveying), Region - Global Forecast to 2030

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/speech-voice-recognition-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/speech-voice-recognition.asp

Logo: https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg