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Speech & Voice Recognition Software Developers in the US Industry Data and Analysis
The Speech and Voice Recognition Software Developers industry is experiencing robust growth, primarily driven by the increasing ubiquity of smartphones. Smartphones, equipped with high-quality microphones and voice assistants, have become a crucial touchpoint for consumers, resulting in a significant demand for voice-controlled features. Voice interaction is no longer a niche but a standard user interface mode, alongside touch and typing. The heightened demand has incentivized app developers, enterprises and brands to integrate advanced recognition features into their mobile apps, driving demand for third-party engines and customization services. Through the five years to 2026, industry revenue has gained at a CAGR of 12.5% to reach $53.3 billion in 2026, including a 9.9% climb in 2026 alone. Despite the gain in revenue, industry profit has dropped as computing and development costs and heavy competition compress profit.
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What's included in this industry analysis
IBISWorld's research coverage on the Speech & Voice Recognition Software Developers industry in the United States includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released January 2026.
About this industry
What's this industry report about?
The Speech & Voice Recognition Software Developers industry in the United States operates under the NAICS industry code OD4531. Companies in this industry develop speech and voice recognition software. Voice recognition software uses the individual’s voice for recognition purposes, while speech recognition signifies the ability of a machine to understand and carry out spoken commands by interpreting articulated words. Related terms covered in the Speech & Voice Recognition Software Developers industry in the United States include electronic health record (ehr), open source software and software as a service (saas).
What's included in this industry?
Products and services covered in Speech & Voice Recognition Software Developers industry in the United States include Recognition software for government and legal purposes, Recognition software for IT and telecommunications and Retail and other.
What companies are included in this industry?
Companies covered in the Speech & Voice Recognition Software Developers industry in the United States include Nuance Communications, Inc. and Amazon.Com, Inc.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Speech & Voice Recognition Software Developers industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Speech & Voice Recognition Software Developers industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Speech & Voice Recognition Software Developers industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Speech & Voice Recognition Software Developers industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Speech & Voice Recognition Software Developers industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Speech & Voice Recognition Software Developers industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Speech & Voice Recognition Software Developers industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Speech & Voice Recognition Software Developers industry in the United States.
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Frequently Asked Questions
What is the market size of the Speech & Voice Recognition Software Developers industry in the United States in 2026?
The market size of the Speech & Voice Recognition Software Developers industry in the United States is $53.3bn in 2026.
How many businesses are there in the Speech & Voice Recognition Software Developers industry in the United States in 2026?
There are 1,826 businesses in the Speech & Voice Recognition Software Developers industry in the United States, which has grown at a CAGR of 18.2 % between 2021 and 2026.
How may import tariffs affect the Speech & Voice Recognition Software Developers industry in the United States?
The Speech & Voice Recognition Software Developers industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Speech & Voice Recognition Software Developers industry in the United States?
The Speech & Voice Recognition Software Developers industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Speech & Voice Recognition Software Developers industry in the United States grown or declined over the past 5 years?
The market size of the Speech & Voice Recognition Software Developers industry in the United States has been growing at a CAGR of 12.5 % between 2021 and 2026.
What is the forecast growth of the Speech & Voice Recognition Software Developers industry in the United States over the next 5 years?
Over the next five years, the Speech & Voice Recognition Software Developers industry in the United States is expected to grow.
What are the biggest companies in the Speech & Voice Recognition Software Developers industry in the United States?
The biggest companies operating in the Speech & Voice Recognition Software Developers industry in the United States are Nuance Communications, Inc. and Amazon.Com, Inc.
What does the Speech & Voice Recognition Software Developers industry in the United States include?
Retail and other and Recognition software for healthcare are part of the Speech & Voice Recognition Software Developers industry in the United States.
Which companies have the highest market share in the Speech & Voice Recognition Software Developers industry in the United States?
The company holding the most market share in the Speech & Voice Recognition Software Developers industry in the United States is Nuance Communications, Inc..
How competitive is the Speech & Voice Recognition Software Developers industry in the United States?
The level of competition is moderate and increasing in the Speech & Voice Recognition Software Developers industry in the United States.
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