New York, United States, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The Global Far-Field Speech & Voice Recognition Market size is to grow from USD 3.42 Billion in 2022 to USD 11.30 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 12.7% during the forecast period.
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Far-field speech and voice recognition technology allows devices to accurately capture and interpret spoken commands or queries from a distance, even in noisy environments. It has gained prominence with the popularity of smart speakers and voice-activated devices. By utilizing advanced signal processing algorithms and microphone arrays, far-field speech recognition filters out background noise and focuses on the speaker's voice. Techniques such as beamforming and acoustic echo cancellation improve audio quality. Automatic speech recognition (ASR) systems then analyze the processed audio, converting it into text for further processing or response generation. This technology has revolutionized human-machine interaction, enabling hands-free control and seamless integration of voice commands in various applications and devices.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Far-Field Speech & Voice Recognition Market Size, Share, and COVID-19 Impact Analysis, By Component (Microphones, Digital Signal Processors, and Software), By Solution (Single Microphone, Linear Arrays, and Circular Arrays), By Application (Smart TV/STB, Smart Speakers, Automotive, Robotics, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032."
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The robotics segment is expected to grow at a higher CAGR of around 12.5% during the forecast period
Based on the application, the global far-field speech & voice recognition market is segmented into smart TV/STB, smart speakers, automotive, robotics, and others. The robotics segment is anticipated to experience higher growth in the far-field speech & voice recognition market during the forecast period. This growth can be attributed to the increasing demand for voice-enabled robots in various industries, such as healthcare, manufacturing, and logistics. Voice recognition technology enhances human-robot interaction and enables intuitive and efficient communication between robots and users. Additionally, advancements in natural language processing and artificial intelligence have improved the capabilities of voice recognition in robotics, making it more accurate and responsive. As a result, the integration of far-field speech and voice recognition in robotics is expected to witness significant growth, driving the expansion of the robotics segment in the market.
The microphones segment held the largest market share with more than 63.4% in 2022
Based on the component, the global far-field speech & voice recognition market is segmented into microphones, digital signal processors, and software. The microphones segment has secured the largest market share in the far-field speech & voice recognition market. This dominance can be attributed to several factors, microphones are a fundamental component in capturing audio for speech recognition systems. The demand for high-quality audio capture in various applications, including smart speakers, virtual assistants, and automotive systems, has fueled the growth of the microphones segment. Additionally, advancements in microphone technology, such as MEMS microphones and noise-canceling microphones, have improved the accuracy and performance of far-field speech recognition systems. The increasing integration of microphones into various devices and the growing popularity of voice-activated applications have further boosted the market share of the microphones segment in the far-field speech & voice recognition market.
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Asia-Pacific is predicted to grow at a higher CAGR of around 12.8% over the projected period
Based on region, Asia-Pacific is projected to experience higher growth in the far-field speech & voice recognition market during the forecast period. The region has a large population and a rapidly expanding middle class, driving the adoption of smart home devices, virtual assistants, and voice-activated applications. Secondly, countries like China, Japan, and South Korea are renowned for their technological advancements and investments in artificial intelligence research. This technological prowess, coupled with the growing demand for voice recognition technology, positions Asia-Pacific for significant market growth. Additionally, the increasing integration of voice recognition in automobiles, healthcare systems, and customer service applications further propels the market's expansion in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. major players in the global far-field speech & voice recognition market include Qualcomm Incorporated, HARMAN International, Synaptics Incorporated, NXP Semiconductors, STMicroelectronics, Andrea Electronics, Cirrus Logic, Microchip Technology Inc., Infineon Technologies AG, Knowles Corporation, Analog Devices, Inc., Sensory, Inc., Meeami Technologies, TDK Corporation, Vocal Technologies, Vesper Technologies, Alango Technologies Ltd., MediaTek Inc., CEVA, Inc., Fortemedia, Inc., XMOS and other key vendors.
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Recent Developments
- In February 2023, Infineon Technologies AG (Germany) has introduced a low-power consumption PDM microphone. It is employed in applications such as wireless earbuds, over-ear headsets, and hearing improvement equipment due to its ultra-low power consumption.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global far-field speech & voice recognition market based on the below-mentioned segments:
Far-Field Speech & Voice Recognition Market, By Component
- Microphones
- Digital Signal Processors
- Software
Far-Field Speech & Voice Recognition Market, By Solution
- Single Microphone
- Linear Arrays
- Circular Arrays
Far-Field Speech & Voice Recognition Market, By Application
- Smart TV/STB
- Smart Speakers
- Automotive
- Robotics
- Others
Far-Field Speech & Voice Recognition Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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