Dublin, Jan. 14, 2022 (GLOBE NEWSWIRE) -- The "Global Far-Field Speech and Voice Recognition Market (2021-2026) by Component, Application & Microphone Solution, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Far-Field Speech and Voice Recognition Market is estimated to be USD 1.38 Bn in 2021 and is expected to reach USD 3.89 Bn by 2026, growing at a CAGR of 23%.
Market Dynamics
Far-field speech and voice recognition is a technique used in machines that allows humans to engage with the machine using human language. These devices use a microphone array to detect the user's speech even in noisy environments, and they are capable of identifying voices within a range of 1 to 10m. Technologies such as Amazon Alexa and Google Home, increasing the global demand for voice-controlled smart speakers.
The fast advancement of deep learning, artificial intelligence (A.I.), and machine learning (MI) technologies have accelerated the use of smart devices across several sectors. As a result of the deployment of sophisticated technologies, the market for far-field speech and voice recognition systems has grown. Furthermore, industry heavyweights like Texas Instruments and Qualcomm are significantly spending in R&D to increase the quality of far-field recognition. Improving the performance and efficiency of smart devices is expected to drive market growth in the future years.
The market for far-field speech and voice recognition systems is driven by factors such as the rising impact of front-end hardware components on speech and voice recognition accuracy and the rise of voice control-based smart speakers. The increasing deployment of far-field speech recognition systems in smart home devices and in-vehicle entertainment systems creates significant market development potential.
However, accuracy difficulties with far-field speech and voice recognition systems in loud and hostile situations may limit market expansion.
The global far-field speech and voice recognition market is segmented further based on Component, Application & Microphone Solution, and Geography.
Company Profiles
Some of the companies covered in this report are Cirrus Logic, Fortemedia, Knowles Corporation, Meeami Technologies, Qualcomm, Sensory, Synaptics, etc.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Far-Field Speech and Voice Recognition Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool.
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
3.1 Introduction
3.2 Market Size and Segmentation
3.3 Market Outlook
4 Market Influencers
4.1 Drivers
4.1.1 The Growing Influence of Front-End Hardware
4.1.2 Components of Speech and Voice Recognition Accuracy
4.1.3 Increase in Voice Control-Enabled Smart Speakers
4.1.4 Technical Advancement of Deep-Learning-Based Far-Field Microphones
4.2 Restraints
4.2.1 Voice-Enabled Smart Home Devices Pose an Increasing Threat to Privacy
4.2.2 Lack of Accuracy in Far-Field Speech and Voice Recognition Systems
4.3 Opportunities
4.3.1 Far-Field Speech and Voice Recognition Deployment in Smart Home Devices
4.3.2 Speech and Voice Recognition Applications in Service Robotics
4.4 Challenges
4.4.1 Power Issues and a Lack of Standardization
4.5 Trends
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 Global Far-Field Speech and Voice Recognition Market, By Component
6.1 Introduction
6.2 Microphones
6.3 DSP/Processors
6.4 Software
7 Global Far-Field Speech and Voice Recognition Market, By Microphone Solution
7.1 Introduction
7.2 Single Microphone
7.3 Linear Microphone
7.4 Circular Microphone
8 Global Far-Field Speech and Voice Recognition Market, By Application
8.1 Introduction
8.2 Smart TV/STB
8.3 Smart Speakers
8.4 Automotive
8.5 Robotics
8.6 Others (Smart Light, Smart Thermostats, Smart Vacuum Cleaners, Smart Fridge, and Smart Washing Machines)
9 Global Far-Field Speech and Voice Recognition Market, By Geography
10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Strategic Initiatives
10.3.1 M&A and Investments
10.3.2 Partnerships and Collaborations
10.3.3 Product Developments and Improvements
11 Company Profiles
11.1 Aaware Inc
11.2 Adaptive Digital Technologies
11.3 Adroit Partners LLC
11.4 Alango Technologies Ltd
11.5 Andrea Electronics Corporation
11.6 Ceva, Inc
11.7 Cirrus Logic, Inc
11.8 DSP Group, Inc
11.9 Fortemedia, Inc
11.10 Harman International
11.11 Knowles Corporation
11.12 Matrix Labs
11.13 Meeami Technologies
11.14 Microsemi Corporation
11.15 Mightyworks
11.16 NXP Semiconductors N.V.
11.17 Qualcomm, Inc
11.18 Retune-DSP
11.19 Sensory, Inc
11.20 STMicroelectronics NV
11.21 Synaptics, Inc
11.22 Texas Instruments, Inc
11.23 Vesper Technologies
11.24 Vocal Technologies
11.25 XMOS Ltd
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/re6dc
