Voice-directed work solutions refer to software and services that provide the voice direction and speech recognition features. Companies offering voice-directed work solutions are engaged in introducing various advanced solutions for developing the voice recognition technology in order to help the commercial and industrial sectors. Voice-directed work has been deployed by small and large companies for more than 20 years and is expected to grow substantially during the forecast period. Nowadays, organizations are looking to process higher number of solutions with the same resources. Companies aim at discarding depleted stock locations and finding solutions to operational bottlenecks while reducing labor costs (mainly overtime). Therefore, the common goal of technology is to synchronize the flow of products and maximize efficiency throughout data centers. The deployment of voice-directed work solutions is expected to overcome major concerns of companies.
A rise in the adoption of voice and speech enabled applications in smartphones, rise in the use of speech and voice recognition technology in mobile banking services, integration of speech and voice recognition techniques in consumer electronics, and development in the Internet of Things are some of the factors that are expected to play a crucial role in driving the global speech and voice recognition market. Moreover, rapid technological development and stringent government rules and regulations are anticipated to boost the global voice directed work solutions market during the forecast period. Voice-directed work solutions offers reliability, cost efficiency, and flexibility. Moreover, voice-directed work solutions provide easy usability, high accuracy, and better voice quality. This is projected to drive the market in the next few years. Furthermore, a substantial increase in demand for tablets, VoIP, and smartphones and demand for convergence facilities for audio, instant messaging, voice mail, video conferencing, and e-mail are anticipated to propel the growth of the voice-directed work solutions market in the near future. Implementation of various rules and regulations by regulatory bodies across the world and an increase in the number of Internet users are expected to augment demand for voice-directed work solutions in the next few years. However, impaired speech, lack of accuracy and improper encoding leading to error in data processing, and lack of efficient training to recognize different voices are expected to restrain the growth of the global voice-directed work solutions market. Nevertheless, the adoption of voice and speech recognition techniques in other consumer electronics devices apart from smartphones, such as refrigerators, thermostats, mixer and grinders, and others, are expected to offer attractive growth opportunities to the global voice-directed work solutions market.
The global voice-directed work solutions market can be segmented based on technology, component, enterprise size, end-use industry, and geography. Based on technology, the market can be divided into voice recognition technology and speech recognition technology. In terms of component, the global voice-directed work solutions market can be classified into software and services. The software segment can be categorized into on premise and cloud. The services segment can be divided into managed and professional services. The professional services sub-segment can be classified into system integration, training & support, and consulting. Based on enterprise size, the market can be categorized into small and medium enterprises (SMEs) and large enterprises. In terms of industry, the voice-directed work solutions market can be segmented into electrical & electronics, food & beverage, pharmaceutical, e-commerce, retail tracking, logistics & transport, and others.
In terms of region, the global voice-directed work solutions market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Key players operating in the voice-directed work solutions market are Voxware, Inc.; Zebra Technologies Corporation; Zetes Industries SA; Dematic Corporation; Voiteq Ltd.; Honeywell International Inc. (Vocollect); Lucas Systems, Inc.; Ivanti Software Inc.; Business Computer Projects Ltd.; TopVox Corporation; Honeywell Intelligrated; and Symphony RetailAI. Leading players in the market are focusing on the introduction of advanced services and solutions in order to strengthen their position and expand their customer base. Companies are investing extensively in R&D operations and are focusing on providing customized services to their customers.
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