Fact · Speech recognition
30.42billion US dollars
Grand View Research says the U.S. transcription market was valued at 30.42 billion US dollars in 2024, and projects a 5.2 percent compound annual growth rate from 2025 to 2030.
Quote found word for word on the live source, last checked October 19, 2026
In the source's own words
“The U.S. transcription market size was valued at USD 30.42 billion in 2024 and is projected to grow at a CAGR of 5.2% from 2025 to 2030”
U.S. Transcription Market Size, Share | Industry Report, 2030, Grand View Research, Grand View Research, Inc., 2024, Report page, market overview.
Open the original- What it measures
- The firm's report page for the U.S. transcription market, updated October 2024. Transcription here covers human and machine transcription in the United States, and the medical segment is the largest part of it.
- What it does not show
- The definition is broad: it is a transcription services market, not speech recognition software alone, and it is U.S. only. The firm's method is not described in detail on the page.
In the data
A row of Speech Recognition Market Size: Every Estimate Compared, as Grand View 2024: 30.42 billion US dollars.
- Market
- Transcription
- Figure
- Size this year (estimate)
- Year described
- 2024
- Estimated by
- Grand View Research
- Growth rate stated (percent a year)
- 5.2
- Region
- United States
- Published
- 2024
Source
Used to calculate
- In the speech and voice recognition market size estimates dataset, the 5 published figures for “Transcription” have a median of 19.2 billion US dollars, ranging from 1.58 to 41.93.
- 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.