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Voice technology - Statistics & Facts

With machine learning and artificial intelligence (AI) expanding throughout the globe and an increasing number of connected devices coming into the worldwide market, voice recognition has become a key part of various services and devices. Voice recognition technology can be divided into two main parts: the phonetic recognition of different words, and the interpretation of the actual language as spoken, a field also known as natural language processing (NLP). The global voice recognition tech market reached close to 10 billion U.S. dollars in 2020 and is projected to amount to almost 30 billion U.S. dollars in 2026.

Digital assistants

One of the main use cases of voice tech is digital assistants. Digital assistants are run on various devices, from smart phones to wearables. Smart speakers are the most widespread way to use digital assistants though. Nearly 127 million smart speakers are expected to get shipped on the global market in 2020 and China was forecast to account for nearly half of them. In 2021, more than 20 percent of individuals from western countries indicated using digital voice assistants several times a day. Among the most frequently used voice assistants in the United States are Alexa, Siri, and the Google Assistant.

Speech-to-text

Speech to text automated transcription has also become an essential part of many businesses, especially within the e-learning e-learning and the market research industry. Accuracy was with no doubt the leading factor influencing companies’ choice of speech to text service provider. However, accuracy was also the leading barrier to voice tech adoption among enterprises, followed by the issues brought about by different accents and dialects. Accuracy means more than just low word error rate (WER), it can also be affected by a number of factors, including background noise, correct formatting, timing of words and specific terminology. These factors are what makes accuracy difficult to achieve and therefore hindering voice tech adoption. Nevertheless, companies seem to be embracing voice-enabled technologies and to be benefiting from them. Likewise, consumers, particularly in the United States, also increasingly adopt oive technology enabled devices such as smart speakers.

Interesting statistics

In the following 4 chapters, you will quickly find the 25 most important statistics relating to "Voice technology".

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