Market Revenue Automatic Speech Recognition Industry Production

Automatic Speech Recognition Industry Production and CAGR,
Comparison by Type Till 2025
“Automatic Speech Recognition Market is expected to observe a high growth
on account of increase in advanced electronic devices usage in the future.”
Global Automatic Speech Recognition Market is expected to observe a high growth on account of increase in
advanced electronic devices usage in the future. One of the major drivers observed in the market is the
increasing voice passwords use by consumers. Text passwords are difficult to remember and easy to crack.
Moreover, text passwords offer security threats. Therefore, organizations are focusing on adopting biometric
passwords in the form of voice which are easy to remember as well as operate by population. Over the past
decades, the field of automatic speech recognition was mostly a research topic. As early as 1932, researchers at
Bell labs investigated the science of speech recognition.
With increase in the amount of fraud, organizations realized a need for a robust system which could serve the
purpose for fraud management. In this system, a person’s voice is treated as a password for identification and
authentication. The main objective of using automatic speech recognition application is to fasten the security
system with high accuracy. Such an application eradicates the need of a keyboard. Moreover, these applications
have contributed to increase in accuracy, response time and efficiency which in turn is expected to drive its
demand over the forecast period. Security systems based on voice are efficient in crowd control.
The need for entering correct passwords with keyboard for access results in time delays and long queues.
Therefore, automatic voice based security systems are expected to find major applications where crowd control
is required.
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