The Voice Recognition Market aims to enhance security to combat the increasing number of fraudulent activities in banking operations, defense and some others. Voice recognition is a software that has the ability to convert and decode human voice to text that can easily understood by a computer.
On the basis of the fact that every individual will have unique voice & fingerprint, biometric technology has been developed which could identify and authenticate an individual based on fingerprint or IRIS pattern and now of course, voice pattern. Across all over the world, the government agencies have been using voice biometrics as a means of authentication and verification for individuals to access physical as well as logical data access.
The rising need of voice biometrics for voice identification purpose from government agencies and many corporate sectors has been resulting in the demand for the voice recognition applications. This demand driving factor is major growth driving factor for the Voice Recognition Market. Increase in use of voice recognition techniques in automotive sector to control infotainment systems in cars and for security purposes also driving the market wit the significant growth rate. Wearable market is also looking at the technology and the same is already implemented across certain smart watches.
North America is leading the Voice Recognition Market with fast growth rate, due to increasing adoption of voice recognition biometrics in both government and private sectors. Europe is leading with the second highest position, followed by Asia-Pacific and Rest of the World. Asia-Pacific is projected to register rapid growth rate due to growing awareness about the benefits of voice recognition technology, during the forecast period. Rest of the World is also expected to register significant growth with rising adoption of voice recognition systems for security purpose.
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