Voice to Text on Mobile Devices Market is Expected to Register at CAGR of 23.5% from 2022 to 2032 | FMI

The global voice to text on mobile device market is expected to be worth approximately US$ 11.8 Billion in 2022. The global voice to text on mobile device market is predicted to grow at a staggering CAGR of 23.5% over the forecast years, reaching a market value of US$ 97.5 Billion by 2032.

Mobile electronic devices such as smartphones and tablets are rapidly overtaking the desktop, laptop computers as the primary computing devices for more than 50% of the worldwide customers. Users are increasingly getting used to access the web, read and write messages and interact on social networks. Input of text on mobile devices is popular despite the fact that it is significantly more difficult by using an on-screen keyboard.

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Automatic speech recognition (ASR) is a solution to the text input on mobile devices which is gaining popularity as an alternative to typing on mobile services. Google offers the ability to search by voice on Android, iOS, and Chrome while Apple’s iOS mobile devices come with Siri, similar to a conversation assistant. On both Android and iOS mobile devices, users can also speak to fill in any text field where they can type, a feature used to dictate SMS messages and e-mail.

Voice to Text on Mobile Devices Market: Drivers & Restraints

Voice to text on mobile devices capabilities enhance the missed-call and voicemail offerings across VAS (value added service) and network services. Voice-to-text on mobile devices improves customer satisfaction and generates revenue for various mobile network providers. A major limitation of the global voice to text mobile devices is that speech recognition is performed on a server.

Mobile network connections are often slow which further limits the penetration of the voice to text mobile devices. The global voice to text mobile devices market has opportunities to invent techniques for building an accurate, small-footprint speech recognition system that can run in real-time on modern mobile devices.

Voice to Text on Mobile Devices Market: Overview

With Voice-to-text on mobile devices, one can send and receive text messages, post Facebook and Twitter updates, emails, all hands-free. Voice-to-text has an incredibly accurate voice recognition technology. Other applications of Voice-to-text on mobile devices include setting reminders, making appointments, and searching the internet without lifting a finger. Currently, a new application is available for deaf people who excel at lip reading.

In meetings or group conversations wherein it gets difficult to follow a conversation when many people speak together, the applications aid in translating the speech into written words and transcribing it on screen in near real time. As a result, the global Voice-to-text on mobile device market growth is expected to be boosted by growing prominence of social networking websites and its hands-free feature.

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Voice to Text on Mobile Devices Market: Region wise Overview

Geographically, global voice to text on mobile devices market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East and Africa (MEA). Broad language coverage in Voice-to-text, with language detection for multi-language solutions is an important feature on mobile devices.

The most common languages available for Voice-to-text are English (US, UK, Canada, Australia), Spanish (Latin American variations), German, French, Italian and Portuguese. Therefore, countries in America and Europe are expected to hold more than half the share in the global voice to text on mobile devices market.

Voice to Text on Mobile Devices Market: Key Players

The key players in global Voice-to-text on mobile devices market are Nuance Communications, Inc., SingTel Optus Pty Limited, iSpeech, Inc., Apple Inc., Microsoft Corporation, Google Inc., to name a few.

Voice to Text on Mobile Devices Market: Segmentation

The global voice to text on mobile devices market is classified on the basis of type of mobile device platform and region.

On the basis of mobile device platform type segmentation, the global voice to text on mobile devices market is classified as follows:

  • Android-based Mobile Devices
  • iOS-based Mobile Devices
  • BlackBerry OS-based Mobile Devices
  • Windows-based Mobile Devices

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