Forecast Shows Voice Recognition Industry Will Reach To New Heights In 2026

Analysts have recently posted data speculating that the global voice recognition market is going to oversee aggressive expansion, potentially growing by 16.8% between 2021 and 2026.

So, let’s talk shop about the hottest new technological trend: voice recognition tech. Be it hardware or software, we’re encountering forms of these relatively new gadgets and gizmos on a daily basis. Some of us even live with these devices. While voice recognition tech may sound like a bad guy machine solicited straight from a rerun of Mission Impossible, the term, in fact, refers to all forms of technology that rely on recognizing one’s voice. Siri, Cortana, and Alexa are just some of the most common iterations of this marketplace that we tend to encounter in the real world. However, variations of the technology can be traced as far back as the late 60’s or the early 70’s. I feel like it’s part of human nature to attempt emulating anything that we encounter in our real world. However, scientists always believed that the development of such devices would be the future, and they’re actually kind of right.

Now, we’re familiar with the what, but not with the how much. MordorIntelligence has provided information regarding just how much the marketplace is worth right now and, more importantly, how these prices are projected to skyrocket in the future. In 2021, the market size was a hefty USD $10.7 billion, and is forecasted to rise up to USD $27.16 billion.

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