Daniel Slotta
Research expert covering Greater China
Voice technology - statistics & facts
Voice technology is in fact not technology used by singers to make their concerts more impressive, but rather a growing market of advanced tech for all consumers and businesses. 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 12 billion U.S. dollars in 2022 and is projected to amount to almost 50 billion U.S. dollars in 2029.
