Fact · Speech recognition
20.2billion US dollars
Grand View Research says the global voice and speech recognition market was valued at 20.2 billion US dollars in 2023.
Quote found word for word on the live source, last checked October 19, 2026
In the source's own words
“The global voice and speech recognition market size was valued at USD 20.2 billion in 2023 and is projected to grow from USD 31.7 billion in 2026 to USD 53.7 billion by 2030, at a CAGR of 14.6% from 2024 to 2030.”
Voice And Speech Recognition Market Report, 2024-2030, Grand View Research, Grand View Research, Inc., 2024, Report summary, market overview.
Open the original- What it measures
- The firm's report summary page for its voice and speech recognition market report, published April 2024 and marked last updated June 2026. The figure is for the year before the report's own year of publication.
- What it does not show
- A firm's estimate, not a measurement. The summary does not set out the method or the market's definition, and other firms put the same market at different sizes.
In the data
A row of Speech Recognition Market Size: Every Estimate Compared, as Grand View speech and voice 2023: 20.2 billion US dollars.
- Market
- Speech and voice recognition
- Figure
- Size in a past year
- Year described
- 2023
- Estimated by
- Grand View Research
- Growth rate stated (percent a year)
- 14.6
- Region
- Worldwide
- Published
- 2024
Source
Used to calculate
- In the speech and voice recognition market size estimates dataset, the 16 published figures for “Speech and voice recognition” have a median of 21.66 billion US dollars, ranging from 9.66 to 83.
- The speech and voice recognition market size estimates dataset holds 32 data points, each a published figure traced to its source.
- The speech and voice recognition market size estimates dataset draws on 12 distinct sources.