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Global Voice Recognition Market Future Demand and Growth Analysis with Forecast 2023

The Global Voice Recognition Market is expected to reach market size of $126.5 billion by 2023, rising at a market growth of 11.6% CAGR during the forecast period. The Voice Recognition technology has been in use in wide range of applications, due to rapid growth in the adoption of mobile & cloud technology and unprecedented technological advancements in computing powers. The healthcare sector would significantly contribute to the growth of voice recognition technology, due to the adoption of the technology to produce health related data records. The voice recognition technology would be a replacement technology to traditional methods prevalent today. The growth in the AI based systems would add to the market attractiveness over the years. Deep learning algorithm which is used to improve search results would be a major technological edge that would contribute to the market growth of AI based voice recognition market.