Cloud Dictation Solution Market – Extensive Adoption of Cloud Platforms Led the Growth
Cloud dictation is an advance dictation solution for global enterprises to dictate at any device anytime and anywhere. Cloud dictation solutions replace unreliable dictation devices by providing rich technology features. The cloud dictation solution supports speech mikes, digital recorders, landline telephones, tablets, and smartphones. Increasing adoption of smartphones is a major driving factor for the cloud dictation solution market.
The cloud dictation solution permits users to access and manage dictations conveniently via smartphones. In 2017, 4.3 billion individuals across the world were smartphone users. The number is expected to reach 6.7 billion by 2022.
Based on application, the cloud dictation solution market can be segmented into legal industry, medical industry, education sector, and police & security agencies. The increasing time pressure become a key factor for increasing adoption of cloud dictation solutions in the legal industry. Cloud dictation solutions permit lawyers to save time by mechanizing and streamlining the complete dictation process. Similarly, these solutions play a key role in the police & security agencies sector. Incidents that require involvement of police or security agencies create a large volume of documents. Notes or reports of an incident taken on the site need to be typeset, which is time consuming.
Cloud dictation solutions have features to dictate on the site or crime scene directly through a smartphone. This helps save time and efforts for documentation. In terms of enterprise size, the global cloud dictation solution market can be divided into small- & mid-sized enterprises and large enterprises. The small & mid-sized enterprises segment is expected to expand at the highest CAGR during the forecast period, owing to extensive adoption of cloud platforms led by their cost effectiveness.
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In terms of region, the global cloud dictation solution market can be categorized into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America led the global cloud dictation solution market in 2018 and is expected to continue its dominance throughout the forecast period. Extensive adoption of cloud platforms by companies in North America is responsible for the dominance of the region.
The U.S. and Canada are major countries of the market in the region. In 2017, North America accounted for 43% share of the total global cloud traffic, which is 3,514 EB. In addition, the trend of early adoption of technology and strong presence of leading players is driving the market in this region.
In addition, the cloud dictation solution market in Asia Pacific is expected to expand at the maximum CAGR during the forecast period. India, China, Japan, and Australia are some of the major countries of the market in this region. The increasing number of small- and mid-sized enterprises in countries of Asia Pacific is boosting the cloud dictation solution market in the region.
In addition, the rising adoption of cloud platforms by small- and mid-sized enterprises in the region led by the advantage of cost effectiveness and mobility is fueling the cloud dictation solution market in Asia Pacific. Cloud traffic in Asia Pacific is expected to increase at a CAGR of 29% during the forecast period.
Key players operating in the global cloud dictation solution market include Arrendale Associates, Inc., Koninklijke Philips N.V., Dictalogic, BigHand Ltd, WahlTek, Inc., and Arrendale Associates, Inc. They provide cloud-hosted dictation systems to hospitals, health care systems, and physicians.
Cloud dictation solutions support digital recorders, landline telephones, tablets, smartphones, and speech mikes. Koninklijke Philips N.V. provides SpeechLive, a cloud dictation solution with a feature to access all dictation files even without access to Internet. SpeechLive provides local support for quick installation and assistance for web-based workflow management and security for online file storage.