Voice recognition is the ability of a device or system to interpret, understand, transcribe, and respond to voice commands. Voice recognition systems enable users to interact with devices and programs simply by speaking to them. This technology originated on PCs but has now stretched to smartphones, home devices, and even kitchens and living rooms.
“Shoebox” developed by IBM in the early 1960s is one of the oldest examples of voice recognition technology in action. It could recognize and respond to 16 English words, including the digits from 0 to 9. Since then, it has advanced tremendously.
According to a recent report published by Statista in January 2021, the global voice recognition market size was forecasted to grow from $10.7 billion in 2019 to $27.16 billion by 2025. With the estimated CAGR from 2020 to 2025 amounting to 16.8 percent, you could imagine the pace at which the voice recognition market is growing.
The report further suggests that by 2024, the number of digital voice assistants (or virtual assistants) will reach 8.4 billion units - a number higher than the world’s population.
We’re likely to witness more wearable devices equipped with voice recognition technology in the next couple of years, similar to how Apple’s voice assistant SIRI is equipped with Airpods. Jellyfish Technologies has a proven record of integrating this technology into mobile apps to give them a competitive edge.
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