Market Share of Voice Recognition Industry
The voice recognition market is becoming fragmented as market leaders invest in product innovation and development to gain an edge. The number of local players is also increasing, creating intense rivalry in the market. Key players are Nuance Communications Inc., Auraya Systems Pty Ltd, Microsoft Corporation, Apple Inc., Alphabet Inc., etc.
In October 2022, the University of Illinois at Chicago (UIUC) announced a collaboration with Apple and other digital conglomerates on the Speech Accessibility Project, which aims to enhance voice recognition technologies for individuals with speech abnormalities and impairments that current versions struggle to grasp.
In September 2022, Paychex Inc., a leading supplier of incorporated human capital management software solutions for payroll, benefits, human resources, and insurance assistance, declared a new communicative artificial intelligence (AI) function called Paychex Voice Assist for Paychex Flex, the firm's SaaS-based HR software solution. Paychex Voice Assist allows payroll administrators to manage payroll hands-free using any Google Assistant-compatible gadget, streamlining and automating the payroll procedure with the audio of a verified user's voice.
Voice Recognition Market Leaders
Nuance Communications Inc.
Auraya Systems Pty Ltd.
Microsoft Corporation
Apple Inc.
Alphabet Inc.
*Disclaimer: Major Players sorted in no particular order
