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2021
Far-field Speech And Voice Recognition Market

Far-Field Speech and Voice Recognition Market By Component (DSP, Microphones and Software), Microphone Solution (Single, Linear, Circular), and Application (Automotive, Smart TV, Smart Speakers, Robotics, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

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Oct 2021 | 163 Views
   
Author(s) : Vijay Poola
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COVID-19

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Far-Field Speech and Voice Recognition Market Outlook – 2030

Far-field speech and voice recognition refer to a technique used in machines that allows humans to communicate with them using their own language. These devices use a microphone array to distinguish the user's voice even in noisy environments. The microphone array is frequently used to gather voice signals for far-field speech recognition. The development of deep-learning-based trainable algorithms for far-field microphones in recent years has considerably decreased the signal distortion and information loss limitations.

Front-end audio processing has been enhanced with the help of microphones that use machine learning, neural networks, and beamforming. Within a coverage range of 1 to 10 meters, they can recognize the voice. Voice-controlled smart speakers are becoming more popular as a result of technology like Amazon Alexa and Google Home. This technology is used in a variety of applications, such as smart home products (intelligent loudspeaker, smart TV), transcribing meetings, and onboard navigation. All these factors are assisting the growth of far-field speech and voice recognition market share globally.

The global far-field speech and voice recognition market is segmented on the basis of component, microphone solution, application and region. Based on component, the market is segregated into DSP, microphones and software. In terms of microphone solution, the market is categorized into single, linear, circular. On the basis of application, the market is divided into automotive, smart TV, smart speakers, robotics, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global far-field speech and voice recognition industry include STMicroelectronics, Texas Instruments, Qualcomm, Sensory, Harman, Andrea Electronics, Microsemi, Knowles, Synaptics, and Cirrus Logic. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global far-field speech and voice recognition market.  

Top Impacting Factors

Far-field speech recognition is a critical technology for speech interactions, with the goal of allowing smart devices to identify human speech from afar. The key growth drivers for the far-field speech and voice recognition market are technological advancements in deep-learning-based far-field microphones, rise in demand for voice control-based smart speakers and implementation of far-field speech, and the use of voice recognition technology in smart home devices.

On the other hand, the surge in threat of privacy from voice-enabled smart home devices, as well as the lack of accuracy in far-field speech and voice recognition systems in noisy and hostile surroundings, are expected to be limit the market growth. The surge in privacy concerns about voice-enabled smart home devices is expected to put a strain on the far-field speech and voice recognition market growth.

New Product Launches to Flourish the Market

In June 2021, Voiceitt, a company based in Israel that delivers real-time automatic speech recognition for non-standard speech, has released a new app on the Apple App Store. Individuals, institutions, nursing homes, and organizations can all download the software for free to enable folks with speech difficulties navigate their environments and manage smart home devices with their voices.

The automatic speech recognition engine from Voiceitt combines machine learning and voice analysis technologies to distinguish abnormal speech and patterns such as breathing pauses, and nonverbal sounds. Users can teach the app using a personalized dictionary, and then use it to convert the person's output into more ordinary speech.

In June 2021, RWS, the world's leading supplier of technology-enabled language, content management, and intellectual property services, has announced a new partnership and the launch of a live subtitling and captioning solution for online meetings and events with CEDAT85, the innovators in speech recognition technology.

The service enables multilingual participants to actively cooperate and engage with one another in real time, in their native language, without the need for translation. The system works by transcribing live speech and audio into text and captions, and then translating text across 130+ languages using the most up-to-date neural network machine translation models. The subtitles appear on the screen in the attendee's native tongue in real time.

Surge in Usage in Technology Sector

The increased impact of front-end hardware components on the accuracy of speech and voice recognition, as well as technological advancements in deep-learning-based far-field microphones, are propelling the market growth. The surge of the far-field speech and voice recognition market is accelerated by the rising demand for voice control–based smart speakers and the growing importance of the technology for speech communications, as it intended to allow smart devices to recognize distant human speech.

The integration of the technology into a variety of situations, such as smart home appliances, meeting transcription, and onboard navigation, as well as the use of a microphone to gather speech signals for far-field speech recognition, all have an impact on the far-field speech and voice recognition market opportunity.

Key Benefits of the Report

  • This study presents the analytical depiction of the far-field speech and voice recognition market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the far-field speech and voice recognition market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight far-field speech and voice recognition market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed far-field speech and voice recognition market analysis based on competitive intensity and how the competition will take shape in coming years

Market Scope and Structure Analysis

Report Metric

Details

 Market Size Available For Years

 2020–2030

 Base Year Considered 

 2020

 Forecast Period

 2021–2030

 Forecast Unit

 Value (USD)

 Segments Covered

Component, Microphone Solution, Application and Region

 Regions Covered

North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and the Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa)

 Companies Covered

STMicroelectronics, Texas Instruments, Qualcomm, Sensory, Harman, Andrea Electronics, Microsemi, Knowles, Synaptics, and Cirrus Logic


COVID-19 Impact Analysis

The COVID-19 pandemic has slowed the growth of several sectors, including automobiles, oil and gas, and others. It has three major effects on the global economy: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets.

The COVID-19 outbreak has posed a significant strategic threat to electronics and manufacturing companies in recent months. The electronics and semiconductor manufacturing industries have been harmed by disruptions in raw material supply, temporary shutdown of manufacturing units, inadequate finance, and weak consumer demand. All these factors are limiting the growth of far-field speech and voice recognition market size globally.

Far-Field Speech and Voice Recognition Market Key Segments

Segment

Sub-Segment

 Component

  • DSP
  • Microphones
  • Software

 Microphone Solution

  • Single
  • Linear
  • Circular

 Application

  • Automotive
  • Smart TV
  • Smart Speakers
  • Robotics
  • Others


Questions Answered in Far-Field Speech and Voice Recognition Market Report

  • What are the leading market players active in the far-field speech and voice recognition market?
  • What would be the detailed impact of COVID-19 on the far-field speech and voice recognition market trends?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future would help in taking further strategic steps?
 
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