Global Far-field Speech and Voice Recognition Market is likely to show a substantial growth of Xx % during the forecast period of 2019-2026. Analysis and discussion of important industry trends, market size, market share estimates are mentioned in the report. Additionally the study provides expected opportunities in the market. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. The company profiles of all the key players and brands that are dominating the Far-field Speech and Voice Recognition market with moves like product launches, joint ventures, merges and accusations which in turn is affecting the sales, import, export, revenue and CAGR values are mentioned in the report. Far-field Speech and Voice Recognition market report also delivers lists of the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the Industry.
Global Far-field Speech and Voice Recognition Market By Component (Microphones, Digital Signal Processors (DSP), Software), Microphone Solution (Single Microphone, Linear Arrays, Circular Arrays), Application (Automotive, Smart TV/STB, Smart Speakers, Robotics, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Global Far-field Speech and Voice Recognition Market is expected to rise from its initial estimated value of USD 969.25 million in 2018 to an estimated value of USD 5400.17 million by 2026, registering a CAGR of 23.95% in the forecast period of 2019-2026. Increasing demand for voice control smart speakers is the major factor for the growth of this market.
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Market Definition: Global Far-field Speech and Voice Recognition Market
Far-field speech and voice recognition is a technology which is used in the machines in which human can interact with the machine using their human language. They usually use the microphone array, so that they can recognise the voice of the user even in the noise. They can recognise the voice within the coverage area of 1 to 10m. With technologies like Amazon Alexa and Google Home there is increase in the demand for voice controlled smart speakers worldwide.
Global far-field speech and voice recognition market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of far-field speech and voice recognition market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players
Few of the major competitors currently working in far-field speech and voice recognition market are Synaptics Incorporated, Texas Incorporated Instruments, Andrea Electronics, Cirrus Logic, Inc., Microsemi, DSP GROUP, Qualcomm Technologies, Inc, Sensory Inc., STMicroelectronics, HARMAN International, Meeami Technologies Private Limited, Alango Technologies Ltd., XMOS – Queens Quay, MightyWorks, Inc., MATRIX, Fortemedia, Inc., VOCAL Technologies, Vesper Technologies, Inc.
- Increasing demand for voice controlled smart speakers is driving the growth of this market
- Technological advancement and development is driving the market
- Increasing awareness among consumer about the privacy is restraining the growth of this market.
- Lack of performance of the system in harsh environment is restraining the market.
Segmentation: Global Far-field Speech and Voice Recognition Market
- By Component
- Digital Signal Processors (DSP)
- By Microphone Solution
- Single Microphone
- Linear Arrays
- Circular Arrays
- By Application
- Smart TV/STB
- Smart Speakers
Key Developments in the Market:
In March 2017, Conexant has announced the launch of their 4-microphone development kit which reduces the audio front end design complexity. It has Smart Source Locator which is used to identify the customer voice and also provide 360 degree noise suppression. Conexant’s AudioSmart™ CX2094 Voice processor help the voice to barge in even in loud music.
In January 2018, Amazon announced the launch of their Amazon Alexa Premium Far-Field Voice Development Kit which especially designed for the Amazon Alexa Voice Services that will make it easier for the OEMs to enable the Alexa products. The main is to bring more Alexa enabled products to the consumers.
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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