Jul. 15 at 10:04 AM
$SOUN Reasons to Be Bullish on SoundHound AI
Rising customer demand for quick service, along with labor shortages, is prompting restaurants to adopt voice automation. This trend benefits SoundHound AI, which has gained clients like Casey’s General Stores, Inc. CASY and Chipotle Mexican Grill, Inc. CMG.
Additionally, the popularity of SoundHound AI’s voice solutions is growing due to their effectiveness and automation advantages. According to MarketsandMarkets, the conversational AI market is expected to grow from
$17.05 billion in 2025 to
$49.80 billion by 2031, creating opportunities for SoundHound AI to improve customer acquisition.
The
$1.2 billion booking backlog for 2024 signals strong long-term revenue growth. Moreover, the total addressable market (TAM) of
$140 billion suggests significant potential for further expansion. SoundHound AI also expects revenues this year to range from
$157 million to
$177 million. This is way more than 2024’s
$84.7 million revenues.