The next big thing in the digital world is the voice. In recent years, voice recognition technology has become a popular concept. Organizations and individuals widely use the technology for various advantages. The voice recognition software is more and more accurate in terms of vocabulary and spelling, as well as being faster to complete tasks. According to Juniper Research data, 55 percent of the U.S. households will have a personal assistant device like Amazon Echo or Google Home by 2022.
Tech giants like Google, Microsoft, Amazon, and Apple are investing heavy in voice recognition. Google Assistant, Siri, Alexa, Cortana, and other virtual assistants are catching the eye of marketers. Cost is one of the biggest benefits of voice recognition. By providing voice recognition and automated access options, companies do not need to invest as much money in call centers. Less equipment, less office, and less staff allow companies to control costs without sacrificing customer service. Gartner predicted that by 2021, the websites that adopt and implement visual and voice search would increase e-commerce revenue by 30 percent.
Image and voice search can account for 50 percent of all searches by 2020, Branded3 claims. Interestingly, the popularity of voice search is that; people can speak 150 words per minute, while only 40 words per minute was an average speed when the same information was entered. Google is far ahead of regular voice search functions; it includes users who have previously searched to help users access personalized information more quickly.
Amazons Echo device, Alexa helps its users to listen to music, get weather updates, read books, and get news briefs on the go. Dragon Go is again one of the best voice recognition application designed for iPhone users. Though there are numerous voice recognition applications, it lags behind device supportability and integration. In the future, these parameters should be considered to achieve better performance in voice recognition. With so much advantages of voice recognition, the global chatbot market is expected to reach $1.25 billion by 2025, growing at a CAGR of 24.3 percent, according to a new report by Grand View Research.