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Voice Speech Recognition Software Market to grow by USD 20.07 Billion (2024-2028), driven by advanced mobile device adoption. Report on how AI is redefining the landscape – Technavio

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NEW YORK, Nov. 15, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global voice speech recognition software market size is estimated to grow by USD 20.07 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  15.7%  during the forecast period. Increasing adoption of technologically advanced mobile devices is driving market growth, with a trend towards growing use of ai integrated with voice and speech analytics. However, lack of skilled workforce  poses a challenge.Key market players include 3M Co., Advanced Voice Recognition Systems Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Baidu Inc., Brainasoft, CastleOS Software LLC, Cisco Systems Inc., iFLYTEK Co. Ltd., International Business Machines Corp., LumenVox GmbH, Meta Platforms Inc., Microsoft Corp., Optimal Technology Solutions LLC, paragon GmbH and Co. KGaA, RTX Corp., Sensory Inc., speak2web, and Verint Systems Inc..

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Voice Speech Recognition Software Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 15.7%

Market growth 2024-2028

USD 20065.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

13.8

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 30%

Key countries

US, China, Germany, UK, and Japan

Key companies profiled

3M Co., Advanced Voice Recognition Systems Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Baidu Inc., Brainasoft, CastleOS Software LLC, Cisco Systems Inc., iFLYTEK Co. Ltd., International Business Machines Corp., LumenVox GmbH, Meta Platforms Inc., Microsoft Corp., Optimal Technology Solutions LLC, paragon GmbH and Co. KGaA, RTX Corp., Sensory Inc., speak2web, and Verint Systems Inc.

Market Driver

The Voice Speech Recognition Software market is experiencing significant growth, particularly in the areas of electronic devices, consumer electronics, and automotive sector. Voice-activated biometrics and security are key trends, with voice biometrics becoming essential for added security. Voice-driven navigation systems, in-car infotainment systems, and smart home automation are also driving demand. Hardware and software companies are integrating voice recognition technology into smartphones, EHR systems, IoT devices, and smart home appliances. AI and machine learning are powering intelligent virtual assistants, speech recognition, and automated speech recognition. The automotive sector is adopting voice recognition for hands-free laws and in-car infotainment. Voice searches are increasingly popular, with search algorithms like Google RankBrain optimizing for voice queries. Voice biometric systems and speaker adaptation are ensuring data privacy. The market is expanding into areas like telemedicine, contactless payments, banking and finance, contact centers, healthcare institutions, and cloud-based solutions. SMEs and industries like retail and ecommerce, IT and telecommunications, media and entertainment, and clinical voice solutions are also adopting voice recognition technology. Open-source software and virtual reality are emerging trends. Voice recognition is transforming customer experiences, making interactions more convenient and efficient. 

The voice speech recognition software market is experiencing significant growth due to the integration of Artificial Intelligence (AI). This integration enhances the efficiency of voice and speech data categorization using machine learning. Unstructured voice and speech data require categorization for analysis, and the increasing volume and variety of data due to big data make this process essential. AI-based voice and speech data categorization automatically analyzes words, acoustics, and sentiments, extracting hidden opinions and emotions. This improves data analysis by making it more comprehensive and accurate. 

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 Market Challenges

The Voice Speech Recognition Software Market is experiencing significant growth due to the increasing use of electronic devices, voice-activated biometrics, and hands-free laws in various industries. Challenges include integrating voice recognition technology with hardware and software in consumer electronics, automotive sector, and IoT devices. Security is a major concern with voice biometrics and ensuring data privacy for voice data. Voice-driven navigation systems and in-car infotainment systems require contextual understanding and natural language processing for effective use. In healthcare, EHR systems and telemedicine rely on speech recognition for efficient data gathering. AI and machine learning are driving advancements in automated speech recognition and intelligent virtual assistants. Vocabulary limitations and multilingual recognition are ongoing challenges. Speech recognition is transforming customer experiences in banking and finance, contact centers, healthcare institutions, and retail and ecommerce. The future of voice recognition includes AI-powered devices, virtual reality, and open-source software for smart appliances and digital assistants.The voice speech recognition software market experiences a significant demand, primarily in contact centers and customer call centers. However, a major challenge lies in the need for a skilled workforce to analyze voice and speech data using these solutions. Voice and speech analysis is a complex process that requires expertise in both voice and speech phenomena, as well as proficiency in handling advanced analytics software platforms. The shortage of workers with these specific skills may impede market expansion during the forecast period.

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Segment Overview 

This voice speech recognition software market report extensively covers market segmentation by  

Technology 1.1 Voice recognition1.2 Speech recognitionEnd-user 2.1 Healthcare2.2 Consumer products2.3 Automotive2.4 Enterprise contact centers2.5 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Voice recognition-  The voice recognition segment dominates the voice speech recognition software market due to its increasing applications in various sectors, including banking, retail, healthcare, automobile, and smart homes. The demand for voice-enabled virtual assistant systems, voice-activated devices, and voice-enabled systems is on the rise, driven by their convenience and efficiency. In healthcare, voice recognition technology is used to translate clinicians’ and doctors’ voices into detailed clinical descriptions for Electronic Health Records (EHRs), enhancing productivity and accuracy. The growing penetration of voice-enabled Internet of Things (IoT) devices in smart home automation is also fueling the market’s growth. These devices offer advanced user interactions, including voice recognition, in addition to traditional means like touch screens and buttons. Furthermore, the adoption of voice identification and speech intelligence in industries is increasing, making it easier for enterprises to implement AI-based digital workplaces and improve their interaction centers. These factors are expected to boost the growth of the healthcare segment of the global voice speech recognition software market.

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Research Analysis

The Voice Speech Recognition Software market is experiencing exponential growth due to the increasing integration of voice technology in various electronic devices. From voice-activated biometrics in security systems to voice biometrics in smartphones, the technology is revolutionizing the way we interact with technology. In-car infotainment systems, Electronic Health Records (EHR), IoT devices, and smart home automation are some of the key areas where voice recognition technology is making a significant impact. Hardware and software companies are investing heavily in developing advanced voice recognition technology, including Natural Language Processing (NLP), Machine Learning (ML), Automated Speech Recognition (ASR), and AI-based platforms. Voice recognition is also transforming customer experiences, enabling speech-enabled interactions in telemedicine, contactless payments, and AI-powered devices. Search algorithms are becoming more sophisticated, allowing for more accurate and natural voice recognition. The future of voice speech recognition software lies in its ability to provide seamless, hands-free, and intuitive interactions with technology.

Market Research Overview

The Voice Speech Recognition Software Market is a rapidly growing industry that leverages Voice Recognition Technology, Artificial Intelligence (AI), and Machine Learning (ML) to enable electronic devices to understand and respond to human speech. This technology is integrated into various sectors, including Consumer Electronics, Automotive, Medical Care, and IoT devices. It powers Voice-activated Biometrics for Security, Voice-driven Navigation Systems, In-car Infotainment Systems, and Smart Home Automation. Speech Recognition is used in Smartphones, Electronic Health Records (EHR), and Virtual Assistants. It also plays a crucial role in Multilingual Recognition, Natural Language Processing (NLP), and Speech-enabled Customer Experiences. The market includes Speech Recognition Software, Hardware, and Cloud-based Solutions for various applications like Telemedicine, Contactless Payments, Web Conferencing Tools, and Post-call Transcripts. The market is witnessing advancements in Speaker Adaptation, Digital Speaker Recognition, and Speech-to-Text APIs. The market also faces challenges such as Vocabulary Limitations, Contextual Understanding, and Data Privacy concerns. The future of Voice Speech Recognition Software Market lies in AI-powered devices, Open-source Software, and Speech Recognition in Virtual Reality (VR) and Banking and Finance.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyVoice RecognitionSpeech RecognitionEnd-userHealthcareConsumer ProductsAutomotiveEnterprise Contact CentersOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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American Pipelining Supplies (APS) Expands Offerings as Authorized U.S. Sales, Training, and Support Provider for IMS Robotics

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November 16, 2024

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ANDERSON, S.C., Nov. 15, 2024 /PRNewswire/ — American Pipelining Supplies (APS), a prominent supplier of trenchless pipeline renewal and repair solutions, proudly announces a strategic partnership with IMS Robotics. This partnership makes APS the leading provider of sales, training, services, and after-sales support for IMS Robotics, in the United States. Through this collaboration, APS is poised to elevate the standard for trenchless repair by bringing IMS’s world-class robotic technology to professionals across the nation.

APS, known for its unwavering commitment to quality and innovation, will now serve as the central hub for IMS Robotics’ state-of-the-art robotic solutions, which are designed to enhance efficiency and precision in pipeline rehabilitation. As part of this new partnership, APS will offer hands-on training, expert consultation, and dedicated after-sales support to ensure clients have everything needed for successful project implementation and maintenance.

“With our new role as the U.S. sales, and support provider for IMS Robotics, we’re excited to bring this innovative technology directly to our clients and equip them with the resources to succeed,” said Jake Saltzman – CEO of American Pipelining Supplies. “IMS Robotics’ advanced systems perfectly align with our goal of providing comprehensive trenchless solutions that improve accuracy, safety, and operational ease. Our expanded offerings mean that our customers will have direct access to cutting-edge robotic tools with training and support at every step.”

APS will conduct expert-led training programs tailored to optimize the performance of IMS’s robotic systems in the field. Additionally, APS’s dedicated service and after-sales team will support pipeline professionals with maintenance, troubleshooting, and upgrades, ensuring smooth operation and maximizing the return on investment.

“Since 1992, IMS Robotics Group has been a pioneer in developing innovative and practical solutions in modern environmental technology. As a leading global manufacturer of specialized equipment for sewer cleaning and rehabilitation, we are proud to be recognized as market leaders in house connection and main sewer milling machines. When selecting a distributor and partner to represent our products, we take great care in choosing organizations that share our commitment to quality, customer service, and industry expertise,” says Steve Webster – Managing Director of IMS Robotics USA. “In an industry where quick and reliable responses to customer needs are critical, we are proud to announce our partnership with American Pipelining Supplies (APS). Jake and his team at APS have consistently demonstrated unparalleled knowledge, dedication, and a strong understanding of our industry. Their reputation for excellence and reliability makes them an ideal partner to represent the IMS Robotics product line in both sales and service. We are excited to collaborate with APS and look forward to a long and prosperous relationship, delivering world-class solutions to meet the evolving needs of our customers.”

Through this collaboration, APS and IMS Robotics are positioned to redefine the landscape of trenchless repair, combining cutting-edge technologies with hands-on, customer-focused support. With this APS and IMS Robotics partnership, pipeline renewal and repair professionals can expect an unprecedented level of access to tools and expertise that drive efficiency and success in every project.

About American Pipelining Supplies:
Based in South Carolina, American Pipelining Supplies is a leader in the pipelining supply industry, delivering high-quality trenchless repair and pipe renewal solutions and now specializing in robotic technologies, sales, training, and support. Learn more about APS.

About IMS Robotics:
IMS Robotics is an internationally recognized innovator in robotic systems for pipeline rehabilitation, delivering robust and adaptable robotic solutions that are designed to maximize efficiency and precision in the pipeline renewal industry. Learn more about IMS.

Media Team
Public Relations
BRANDefenders Media
media@brandefenders.com

This release was issued through WebWire®. For more information, visit http://www.webwire.com.

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SOURCE American Pipelining Supplies

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Learnologyworld Launches “Pay Later” Option and Expands Online Courses

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November 16, 2024

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This move will help Learnologyworld remove financial barriers to IT certification and skill development and provide immediate access to materials with payments deferred.

LOS ANGELES, Nov. 15, 2024 /PRNewswire/ — Learnologyworld, a leading provider of affordable certification training, announces the launch of its “Pay Later” payment option. The company has also expanded its range of online courses to meet the growing demand for IT certifications. The “Pay Later” option offers students the flexibility to receive training materials immediately and pay after two days via PayPal. This ensures that learners can advance their careers even when they don’t have immediate access to funds. The goal is to provide an essential support system for learners facing financial barriers, particularly in today’s uncertain economic climate.

As job requirements in technology become more strict, IT certifications have become a vital asset to the workforce. Studies show that certified IT professionals earn, on average, 30 percent more than their non-certified peers. Certifications serve as an industry standard, providing proof of expertise to potential employers, particularly for individuals without formal degrees.

In addition, the online learning industry is projected to grow by over nine percent year over year. This flexibility and accessibility of digital platforms have made professional development attainable for individuals balancing commitments to work, family, and study. Learnologyworld’s online courses for the aforementioned IT certifications help meet those needs through a self-paced, flexible approach to certification preparation. The courses cover programming, network management, cybersecurity, and much more.

“Certifications aren’t something you just add onto your resume. They’re essential credentials for people who want to establish or advance their careers in IT,” said Manuel End, co-founder and CEO of Learnologyworld. “Our ‘Pay Later’ option helps make sure that anyone with the drive to learn can access quality education.”

Emma Müller, chief technology officer at Learnology, added, “We’re constantly looking for ways to make learning more affordable and accessible. Online learning has become one of the top ways for job seekers and full-time employees to work around their busy schedules, and our new courses will help make the most in-demand skills more accessible to those individuals.”

Learnologyworld also offers interactive study guides and personalized exam vouchers for certifications offered by renowned brands like CompTIA, LPI, CWNP, Python Institute and ISQTB. The vouchers allow students to purchase a code online and then redeem the code at an authorized testing center to take a certification test, simplifying the process of paying for tests and identifying legitimate testing centers.

About Learnologyworld

Learnologyworld is an educational platform dedicated to affordable and accessible IT certification training. Through an array of online courses, study guides, and practice exams, Learnologyworld helps aspiring IT professionals achieve their career goals. The company’s focus on flexibility and affordability has made it a trusted partner for learners around the world.

Press Contact:

Bella Rose
7402177670
https://www.learnologyworld.net/

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SOURCE Learnologyworld

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GW Allen acquires Gage Western and Allen Measurement Services

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November 16, 2024

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WACO, Texas, Nov. 15, 2024 /PRNewswire/ — GW Allen, LLC (“GW Allen” or the “Company”) announced today it has entered into two separate definitive agreements to acquire 100% of the equity interests of Gage Western, LLC and Allen Measurement Services, LLC. The acquisitions position GW Allen as one of the largest third-party meter proving service companies in the United States. Kevin Fields, a proven veteran in the measurement industry, will lead the new Company as its CEO.

Mr. Fields noted, “We are excited to announce the acquisition of two high-quality meter proving companies. These acquisitions create a larger network of measurement equipment to better serve the needs of our customers across the United States. With the quality processes of Gage Western and the customer service of Allen Measurement Services, GW Allen will strive to deliver excellence in all aspects of the measurement business.” 

GW Allen Chairman, Coleman Curry, added, “These acquisitions mark our first step in establishing a significant presence within the measurement industry. We will seek to organically expand our services offerings to include a variety of additional measurement services, including lab analysis, calibrations and software services.”

About GW Allen
GW Allen operates 15 custody transfer provers, four allocation provers and a flow loop in Midland, Texas. Headquartered in Waco, Texas, the Company employs 25 people and has plans to expand its position in the measurement sector throughout the United States. Our motto is — Excellence. Measured.

About Mr. Kevin Fields
Mr. Fields began his measurement career at Coastal Flow Measurement in 1984 where he helped grow the company from one (1) prover in 1989 to 35 provers and 55 employees in 2018 at which time the company was sold. After the successful sale, Mr. Fields served as an executive of Flow Measurement Devices, or FMD, from 2018 to 2022. Most recently Mr. Fields has supported e9 Treatments movement into the midstream industry. Mr. Fields is regarded as one of the most influential measurement executives in the industry having introduced the first portable small volume prover (Synctrak) and publishing many papers on measurement services including: Operational Experiences of Small Volume Prover, Master Meter Water Prover Calibration, and Pycnometers and Densitometer Operations.

Contact:
Mr. Kevin Fields
Chief Executive Officer
GW, Allen, LLC
Kevinfields@gw-allen.com

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SOURCE Donovan Ventures

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