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Far-field Speech and Voice Recognition Market Business Opportunities, Current Trends & Industry Analysis by Key Players like Synaptics Incorporated, Texas Instruments, Andrea Electronics, Cirrus Logic, Microsemi Corporation, DSP GROUP, Qualcomm, Sensory I
Far-field Speech and Voice Recognition Market
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.
Competitive Analysis:
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.
Market Drivers:
• Increasing demand for voice controlled smart speakers is driving the growth of this market
• Technological advancement and development is driving the market
Market Restraints:
• 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
o Microphones
o Digital Signal Processors (DSP)
o Software
• By Microphone Solution
o Single Microphone
o Linear Arrays
o Circular Arrays
• By Application
o Automotive
o Smart TV/STB
o Smart Speakers
o Robotics
o Others
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
About Data Bridge Market Research:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
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Email: sopan.gedam@databridgemarketresearch.com
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