Global Far-Field Speech and Voice Recognition Market
According to the analysis of Market Research Future (MRFR), the global far-field speech and voice recognition market is slated to reach a significant market valuation at a substantial CAGR over the assessment period.
Drivers and Restraints
Far-field speech recognition is a vital technology for speech interactions and aiming to enable smart devices to identify human speech even from a certain distance. Technological advancements in deep-learning-based far-field microphones, increasing demand for voice control-based smart speakers and the adoption of far-field speech, along with the usage of voice recognition technology in smart home devices are the major driving factors of the global far-field speech and voice recognition market over the review period.
The global far-field speech and voice recognition market is segmented on the basis of component, application, and microphone solution.
Based on the component, the far-field speech and voice recognition market has been segmented into digital signal processors, microphones, and software. The microphone segment is likely to lead the market share over the review period, while the software segment is poised to record the highest growth rate. This is attributed to the increasing investments by major market players, towards the improvement of precision and dependability of digital communication with the use of advanced signal processing algorithms and methods.
Based on the microphone solution, the market has been segmented into circular arrays, linear arrays, and single microphone. The linear array segment is slated to dominate the market share over the review period, owing to its wide application scope, whereas the software segment is anticipated to register the highest CAGR.
On the basis of the applications, the market has been segmented into the in-vehicle infotainment system, robotics, smart lighting, smart speakers, smart thermostats, smart TV, and others.
The global far-field speech and voice recognition market is segmented on the basis of region, into Asia Pacific, North America, Europe, and the rest of the world.
North America is slated to account for the maximum market share and record the fastest CAGR in the market for far-field speech and voice recognition over the review period. This is attributed to the presence of major market players, abundant availability of capable technical expertise, and greater penetration of smart devices including smart speakers in the region. Furthermore, the end-users in the region willingly capitalize in new technologies, which further drives the development of field voice recognition technology in the region over the assessment period.
The key market players operating in the global far-field speech and voice recognition market identified by MRFR are Texas Instruments Inc. (US), Synaptics Inc. (US), Qualcomm Inc. (US), STMicroelectronics NV (Switzerland), Sensory Inc. (US), Harman International Industries, Inc. (the USCirrus Logic Inc. (US), Microsemi Corporation (US), Andrea Electronics Corporation (US), DSP Group, Inc. (US), Meeami Technologies, Inc. (the US), Knowles Corporation (US), Fortemedia, Inc. (US), Alango Technologies Ltd (Israel), and VOCAL Technologies, Ltd (US).
The market players are anticipated to invest extensively in research and development activities. The players are also likely to focus on profitable business strategies such as mergers, joint ventures, partnerships, among others, which are fueling the competition in the global far-field speech and voice recognition market for over the review period.
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