Voice Recognition Underdogs SOUN, EGHT, and CRNC Gain Traction Amid Industry Expansion
The voice recognition sector is transitioning from novelty to necessity, with applications spanning customer service, automotive interfaces, and enterprise workflows. While tech giants like Microsoft, Apple, Alphabet, and Amazon control 60% of the market, niche players are carving out disruptive roles.
SoundHound AI (SOUN) specializes in voice AI for automotive and hospitality sectors. 8×8 (EGHT) integrates AI into cloud-based contact centers, while Cerence (CRNC) powers in-car voice systems. These companies represent high-growth opportunities as voice technology becomes critical infrastructure for IoT ecosystems.
Market demand is accelerating as businesses prioritize productivity tools that bridge human-machine interaction. The convergence of ubiquitous AI and smart devices creates a $50B+ addressable market by 2027, according to industry analysts.
