Speech and Voice Recognition Market to Grow at Higher CAGR During the Forecast Period
The speech and voice recognition market is expected to reach USD 21.5 billion by 2024 from USD 7.5 billion in 2018, at a CAGR of 19.18%. The growth of the market can be attributed to the high growth potential in healthcare applications, growing demand for voice authentication in a mobile banking applications, the rapid proliferation of multifunctional devices or smart speakers, and the growing impact of AI on the accuracy of speech and voice recognition.
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