Market Analysis
Market Research Future (MRFR) predicts the global far-field speech and voice recognition market size to reach USD 3,005.14 million at a CAGR of 24.56% from 2020 to 2027 (forecast period).
High Demand for Voice Control–Based Smart Speakers
The growing demand for voice control–based smart speakers, as well as the growing importance of the technology for speech communications as it intends to allow smart devices to recognize distant human speech, are driving the far-field speech and voice recognition market growth. The implementation of the innovation to a variety of situations, such as smart home appliances, meeting transcription, and onboard navigation, as well as the use of microphones to gather speech signals for far-field speech recognition, all have an impact on the far-field speech and voice recognition market.
Get FREE sample @ https://www.marketresearchfuture.com/sample_request/7964
Technical Breakthroughs in Deep-Learning-Based Far-Field Microphones
The increased influence of front-end hardware components on the accuracy of speech and voice recognition, as well as technological advancements in deep-learning-based far-field microphones, are the primary reasons driving the growth of the far-field speech and voice recognition market.
Increasing Privacy Concerns and Lack of Accuracy
The growing privacy threat posed by voice-enabled smart home devices, as well as the lack of accuracy in far-field speech and voice recognition systems in noisy and harsh surroundings, are projected to stymie the growth of the far-field speech and voice recognition market.
Market Segmentation
By Component, Microphones to Lead the Global Market
To lessen the impact of noise and reverberation from the surrounding environment, far-field speech and voice recognition systems employ several microphones in the shape of a linear or circular array. The development of deep-learning-based trainable algorithms for far-field microphones in recent years has considerably decreased the limits of signal distortion and information loss. Machine learning, neural networks, and beamforming microphones have enhanced front-end voice processing. Google's smart speaker has been at the forefront of incorporating deep learning-based microphones. Google used deep learning-based microphones to decrease the number of microphones in their smart speaker to two per device, whereas Amazon uses seven microphones in a single smart speaker.
By Applications, Smart Speaker is Set to be the Largest Contributor
In 2018, the smart speaker application segment dominated the far-field speech and voice recognition market. In recent years, the rise of virtual assistance–integrated smart speakers in North America and Europe have contributed to a bigger share of the smart speaker vertical. Furthermore, the growing market for smart speakers among middle-class customers in developing nations is likely to provide considerable potential opportunities for the market in the smart speaker application segment. For example, Amazon sold more than 100 million Alexa smart assistant devices in 2018.
Regional Analysis
North America to Dominate the Global Market
North America is expected to have the largest market share and the strongest CAGR in the far-field speech and voice recognition market from 2019 to 2024, attributed to the region's heavy concentration of market players, wide availability of proficient technical expertise, and rapid expansion of smart devices such as smart speakers. Furthermore, end users in the region are eager to invest in new technologies, which encourages market participants to develop field voice recognition technology.
Key Players
The prominent players in the far-field speech and voice recognition industry are Synaptics Inc. (US), Texas Instruments Inc. (US), Qualcomm Inc. (US), Sensory Inc. (US), STMicroelectronics NV (Switzerland), Harman International Industries, Inc. (US), Andrea Electronics Corporation (US), Cirrus Logic Inc. (US), Microsemi Corporation (US), DSP Group, Inc. (US), Knowles Corporation (US), Meeami Technologies, Inc. (US), Alango Technologies Ltd (Israel), Fortemedia, Inc. (US), and VOCAL Technologies, Ltd (US).
View FULL reports @ https://www.marketresearchfuture.com/reports/far-field-speech-and-voice-recognition-market-7964
Recent Developments
Texas Instruments (TI) revealed the integration of Amazon FreeRTOS into the SimpleLink microcontroller (MCU) platform, allowing developers to connect Internet of Things (IoT) endpoints to the cloud easily and securely. Amazon Web Services (AWS) collaborated with TI to create an integrated hardware and software solution that allows developers to connect to the AWS IoT service immediately and begin system development.
Harman partnered with Conexant Systems (US), a provider of audio and voice technology. This collaboration aims to provide makers of voice-enabled devices with end-to-end voice and audio solutions. Harman will be able to employ Conexant's voice processing technologies to provide a better user experience through automotive voice recognition systems as a result of the partnership.
