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PUBLISHER: KBV Research | PRODUCT CODE: 1563314
PUBLISHER: KBV Research | PRODUCT CODE: 1563314
North America Medical Speech Recognition Software Market Size, Share & Trends Analysis Report By Deployment (Cloud-based and On-premises), By Functionality, By End Use, By Country and Growth Forecast, 2024 - 2031
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The North America Medical Speech Recognition Software Market would witness market growth of 10.2% CAGR during the forecast period (2024-2031).
The US market dominated the North America Medical Speech Recognition Software Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,082.9 million by 2031. The Canada market is experiencing a CAGR of 12.5% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 11.7% during (2024 - 2031).
Speech recognition systems integrated with clinical decision-support tools allow healthcare providers to access decision-support resources via voice commands. This integration facilitates immediate access to guidelines, drug interactions, and diagnostic suggestions, supporting informed decision-making during patient care. The software can provide contextual assistance based on the spoken content, helping clinicians make decisions relevant to the specific clinical scenario being discussed.
Healthcare providers can use voice commands to update patient records, including adding new information, modifying existing entries, and correcting errors. This voice-driven approach streamlines the record-keeping process and ensures that patient records are consistently maintained. The software helps organize and structure patient data efficiently, making retrieving and reviewing comprehensive patient histories and treatment plans easier.
Increased healthcare spending in the USA supports expanding and modernizing healthcare facilities. This software is integrated into these upgraded systems to improve documentation efficiency and enhance patient care. As per the American Medical Association, health spending in the U.S. increased by 4.1% in 2022 to $4.5 trillion or $13,493 per capita. Overall, health spending was 17.3% of GDP in 2022. The construction of new healthcare centers and hospitals nationwide drives the demand for advanced documentation tools. Speech recognition software has been adopted to streamline patient record management in these newly established facilities. Thus, rising investments in the healthcare sector in North America will lead to increased demand for medical speech recognition software in the region.
Based on Deployment, the market is segmented into Cloud-based and On-premises. Based on Functionality, the market is segmented into Front-end Speech Recognition, Back-End Speech Recognition, and Voice Command and Control. Based on End Use, the market is segmented into Doctors & Physicians, Radiologists, Medical Transcriptionist, and Other End Use. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- IBM Corporation
- Microsoft Corporation
- 3M Company
- Google LLC (Alphabet Inc.)
- Koninklijke Philips N.V.
- DeepScribe Inc.
- Augnito India Pvt. Ltd.
- Deepgram, Inc.
- ScienceSoft USA Corporation
North America Medical Speech Recognition Software Market Report Segmentation
By Deployment
- Cloud-based
- On-premises
By Functionality
- Front-end Speech Recognition
- Back-End Speech Recognition
- Voice Command and Control
By End Use
- Doctors & Physicians
- Radiologists
- Medical Transcriptionist
- Other End Use
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Medical Speech Recognition Software Market, by Deployment
- 1.4.2 North America Medical Speech Recognition Software Market, by Functionality
- 1.4.3 North America Medical Speech Recognition Software Market, by End Use
- 1.4.4 North America Medical Speech Recognition Software Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.1.1 Partnerships, Collaborations and Agreements
- 4.1.2 Product Launches and Product Expansions
- 4.1.3 Acquisition and Mergers
- 4.2 Market Share Analysis, 2023
- 4.3 Top Winning Strategies
- 4.3.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2021, Jan-2024, Aug) Leading Players
- 4.4 Porter Five Forces Analysis
Chapter 5. North America Medical Speech Recognition Software Market by Deployment
- 5.1 North America Cloud-based Market by Region
- 5.2 North America On-premises Market by Region
Chapter 6. North America Medical Speech Recognition Software Market by Functionality
- 6.1 North America Front-end Speech Recognition Market by Country
- 6.2 North America Back-End Speech Recognition Market by Country
- 6.3 North America Voice Command and Control Market by Country
Chapter 7. North America Medical Speech Recognition Software Market by End Use
- 7.1 North America Doctors & Physicians Market by Country
- 7.2 North America Radiologists Market by Country
- 7.3 North America Medical Transcriptionist Market by Country
- 7.4 North America Other End Use Market by Country
Chapter 8. North America Medical Speech Recognition Software Market by Country
- 8.1 US Medical Speech Recognition Software Market
- 8.1.1 US Medical Speech Recognition Software Market by Deployment
- 8.1.2 US Medical Speech Recognition Software Market by Functionality
- 8.1.3 US Medical Speech Recognition Software Market by End Use
- 8.2 Canada Medical Speech Recognition Software Market
- 8.2.1 Canada Medical Speech Recognition Software Market by Deployment
- 8.2.2 Canada Medical Speech Recognition Software Market by Functionality
- 8.2.3 Canada Medical Speech Recognition Software Market by End Use
- 8.3 Mexico Medical Speech Recognition Software Market
- 8.3.1 Mexico Medical Speech Recognition Software Market by Deployment
- 8.3.2 Mexico Medical Speech Recognition Software Market by Functionality
- 8.3.3 Mexico Medical Speech Recognition Software Market by End Use
- 8.4 Rest of North America Medical Speech Recognition Software Market
- 8.4.1 Rest of North America Medical Speech Recognition Software Market by Deployment
- 8.4.2 Rest of North America Medical Speech Recognition Software Market by Functionality
- 8.4.3 Rest of North America Medical Speech Recognition Software Market by End Use
Chapter 9. Company Profiles
- 9.1 Amazon Web Services, Inc. (Amazon.com, Inc.)
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental Analysis
- 9.1.4 Recent strategies and developments:
- 9.1.4.1 Partnerships, Collaborations, and Agreements:
- 9.1.4.2 Product Launches and Product Expansions:
- 9.1.5 SWOT Analysis
- 9.2 IBM Corporation
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Regional & Segmental Analysis
- 9.2.4 Research & Development Expenses
- 9.2.5 Recent strategies and developments:
- 9.2.5.1 Partnerships, Collaborations, and Agreements:
- 9.2.5.2 Product Launches and Product Expansions:
- 9.2.5.3 Acquisition and Mergers:
- 9.2.6 SWOT Analysis
- 9.3 Microsoft Corporation
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expenses
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.5.2 Acquisition and Mergers:
- 9.3.6 SWOT Analysis
- 9.4 3M Company
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expense
- 9.4.5 SWOT Analysis
- 9.5 Google LLC (Alphabet Inc.)
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expense
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Partnerships, Collaborations, and Agreements:
- 9.5.6 SWOT Analysis
- 9.6 Koninklijke Philips N.V.
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expense
- 9.6.5 SWOT Analysis
- 9.7 DeepScribe Inc.
- 9.7.1 Company Overview
- 9.7.2 Recent strategies and developments:
- 9.7.2.1 Partnerships, Collaborations, and Agreements:
- 9.8 Augnito India Pvt. Ltd.
- 9.8.1 Company Overview
- 9.9 Deepgram, Inc.
- 9.9.1 Company Overview
- 9.10. ScienceSoft USA Corporation
- 9.10.1 Company Overview
LIST OF TABLES
- TABLE 1 North America Medical Speech Recognition Software Market, 2020 - 2023, USD Million
- TABLE 2 North America Medical Speech Recognition Software Market, 2024 - 2031, USD Million
- TABLE 3 Partnerships, Collaborations and Agreements- Medical Speech Recognition Software Market
- TABLE 4 Product Launches And Product Expansions- Medical Speech Recognition Software Market
- TABLE 5 Acquisition and Mergers- Medical Speech Recognition Software Market
- TABLE 6 North America Medical Speech Recognition Software Market by Deployment, 2020 - 2023, USD Million
- TABLE 7 North America Medical Speech Recognition Software Market by Deployment, 2024 - 2031, USD Million
- TABLE 8 North America Cloud-based Market by Region, 2020 - 2023, USD Million
- TABLE 9 North America Cloud-based Market by Region, 2024 - 2031, USD Million
- TABLE 10 North America On-premises Market by Region, 2020 - 2023, USD Million
- TABLE 11 North America On-premises Market by Region, 2024 - 2031, USD Million
- TABLE 12 North America Medical Speech Recognition Software Market by Functionality, 2020 - 2023, USD Million
- TABLE 13 North America Medical Speech Recognition Software Market by Functionality, 2024 - 2031, USD Million
- TABLE 14 North America Front-end Speech Recognition Market by Country, 2020 - 2023, USD Million
- TABLE 15 North America Front-end Speech Recognition Market by Country, 2024 - 2031, USD Million
- TABLE 16 North America Back-End Speech Recognition Market by Country, 2020 - 2023, USD Million
- TABLE 17 North America Back-End Speech Recognition Market by Country, 2024 - 2031, USD Million
- TABLE 18 North America Voice Command and Control Market by Country, 2020 - 2023, USD Million
- TABLE 19 North America Voice Command and Control Market by Country, 2024 - 2031, USD Million
- TABLE 20 North America Medical Speech Recognition Software Market by End Use, 2020 - 2023, USD Million
- TABLE 21 North America Medical Speech Recognition Software Market by End Use, 2024 - 2031, USD Million
- TABLE 22 North America Doctors & Physicians Market by Country, 2020 - 2023, USD Million
- TABLE 23 North America Doctors & Physicians Market by Country, 2024 - 2031, USD Million
- TABLE 24 North America Radiologists Market by Country, 2020 - 2023, USD Million
- TABLE 25 North America Radiologists Market by Country, 2024 - 2031, USD Million
- TABLE 26 North America Medical Transcriptionist Market by Country, 2020 - 2023, USD Million
- TABLE 27 North America Medical Transcriptionist Market by Country, 2024 - 2031, USD Million
- TABLE 28 North America Other End Use Market by Country, 2020 - 2023, USD Million
- TABLE 29 North America Other End Use Market by Country, 2024 - 2031, USD Million
- TABLE 30 North America Medical Speech Recognition Software Market by Country, 2020 - 2023, USD Million
- TABLE 31 North America Medical Speech Recognition Software Market by Country, 2024 - 2031, USD Million
- TABLE 32 US Medical Speech Recognition Software Market, 2020 - 2023, USD Million
- TABLE 33 US Medical Speech Recognition Software Market, 2024 - 2031, USD Million
- TABLE 34 US Medical Speech Recognition Software Market by Deployment, 2020 - 2023, USD Million
- TABLE 35 US Medical Speech Recognition Software Market by Deployment, 2024 - 2031, USD Million
- TABLE 36 US Medical Speech Recognition Software Market by Functionality, 2020 - 2023, USD Million
- TABLE 37 US Medical Speech Recognition Software Market by Functionality, 2024 - 2031, USD Million
- TABLE 38 US Medical Speech Recognition Software Market by End Use, 2020 - 2023, USD Million
- TABLE 39 US Medical Speech Recognition Software Market by End Use, 2024 - 2031, USD Million
- TABLE 40 Canada Medical Speech Recognition Software Market, 2020 - 2023, USD Million
- TABLE 41 Canada Medical Speech Recognition Software Market, 2024 - 2031, USD Million
- TABLE 42 Canada Medical Speech Recognition Software Market by Deployment, 2020 - 2023, USD Million
- TABLE 43 Canada Medical Speech Recognition Software Market by Deployment, 2024 - 2031, USD Million
- TABLE 44 Canada Medical Speech Recognition Software Market by Functionality, 2020 - 2023, USD Million
- TABLE 45 Canada Medical Speech Recognition Software Market by Functionality, 2024 - 2031, USD Million
- TABLE 46 Canada Medical Speech Recognition Software Market by End Use, 2020 - 2023, USD Million
- TABLE 47 Canada Medical Speech Recognition Software Market by End Use, 2024 - 2031, USD Million
- TABLE 48 Mexico Medical Speech Recognition Software Market, 2020 - 2023, USD Million
- TABLE 49 Mexico Medical Speech Recognition Software Market, 2024 - 2031, USD Million
- TABLE 50 Mexico Medical Speech Recognition Software Market by Deployment, 2020 - 2023, USD Million
- TABLE 51 Mexico Medical Speech Recognition Software Market by Deployment, 2024 - 2031, USD Million
- TABLE 52 Mexico Medical Speech Recognition Software Market by Functionality, 2020 - 2023, USD Million
- TABLE 53 Mexico Medical Speech Recognition Software Market by Functionality, 2024 - 2031, USD Million
- TABLE 54 Mexico Medical Speech Recognition Software Market by End Use, 2020 - 2023, USD Million
- TABLE 55 Mexico Medical Speech Recognition Software Market by End Use, 2024 - 2031, USD Million
- TABLE 56 Rest of North America Medical Speech Recognition Software Market, 2020 - 2023, USD Million
- TABLE 57 Rest of North America Medical Speech Recognition Software Market, 2024 - 2031, USD Million
- TABLE 58 Rest of North America Medical Speech Recognition Software Market by Deployment, 2020 - 2023, USD Million
- TABLE 59 Rest of North America Medical Speech Recognition Software Market by Deployment, 2024 - 2031, USD Million
- TABLE 60 Rest of North America Medical Speech Recognition Software Market by Functionality, 2020 - 2023, USD Million
- TABLE 61 Rest of North America Medical Speech Recognition Software Market by Functionality, 2024 - 2031, USD Million
- TABLE 62 Rest of North America Medical Speech Recognition Software Market by End Use, 2020 - 2023, USD Million
- TABLE 63 Rest of North America Medical Speech Recognition Software Market by End Use, 2024 - 2031, USD Million
- TABLE 64 Key Information - Amazon Web Services, Inc.
- TABLE 65 Key Information - IBM Corporation
- TABLE 66 Key Information - Microsoft Corporation
- TABLE 67 Key Information - 3M Company
- TABLE 68 Key Information - Google LLC
- TABLE 69 Key Information - Koninklijke Philips N.V.
- TABLE 70 Key Information - DeepScribe Inc.
- TABLE 71 Key Information - Augnito India Pvt. Ltd.
- TABLE 72 Key Information - Deepgram, Inc.
- TABLE 73 Key Information - ScienceSoft USA Corporation
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