Far-Field Speech and Voice Recognition Market Worth $3,505 Million by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 28, 2019 /PRNewswire/ --According to the new market research report "Far-Field Speech and Voice Recognition Market by Component (Microphones, DSP and Software), Application (Smart TV/STB, Smart Speakers, Automotive, and Robotics), Microphone Solutions (Single, Linear, Circular), and Geography - Global Forecast to 2024", published by MarketsandMarkets™, the market is expected to grow from USD 969 million in 2018 to USD 3,505 million by 2024, at a CAGR of 23.89%. The growth of the far-field speech and voice recognition market can be attributed to the technical advancement of deep-learning-based far-field microphones, growing impact of front-end hardware components on the accuracy of speech and voice recognition, and growth in voice control–based smart speakers. Moreover, the deployment of far-field speech and voice recognition in smart home devices and application of speech and voice recognition in service robotics is expected to create huge growth opportunities for the far-field speech and voice recognition market.

Ask for PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=39497510

Far-filed Speech and voice recognition market for others application to grow at the highest rate during the forecast period

Others include Smart Light, Smart Thermostats, Smart Vacuum Cleaners, Smart Fridge, and Smart Washing Machines. According to MindMeld, a speech-recognition API provider, 50% of internet searches are expected to be through voice inputs by 2020. This indicates that enormous voice information would be made available for learning and predicting natural speech. Such advancement is expected to lead to far-field based speech and voice recognition applications for smart home devices such as smart camera, smart thermostat, smart light, smart fridge, and smartphones and tablets.

Linear arrays expected to hold the largest size of the far-field speech and voice recognition market during the forecast period

In linear arrays, microphones are arranged or placed in a straight line consisting of 2 or more microphones. There is an increase in demand for AI-enabled smart speakers in smart home and smart office applications. Linear arrays are mainly used in smart speakers, Smart TVs and STB (set-top box), automotive and home router, home security device, thermostat, or home appliance and hence hold the major share in far-field speech and voice recognition market. For example, Harman's Sonique three-mic array designed to capture voice inputs at distances up to 6 m (18 feet) and integrated into music player, TV set-top box, home router, home security device, thermostat, or home appliance.

Browse in-depth TOC on "Far-Field Speech and Voice Recognition Market"

63 – Tables

42 – Figures

140 – Pages

North America is likely to hold largest size of far-field speech and voice recognition market by 2024

North America has been extremely responsive to the latest technological advancements, such as the integration of artificial intelligence (AI) and the Internet of things (IoT). The penetration of smart home applications, such as smart speakers, in North American countries especially in the US is high owing to the presence of early adopters and key smart speaker providers. The willingness of customers to accept and use new technologies has also encouraged manufacturers in the region to develop new and advanced products. Key players, such as Amazon, Google, Apple, and Bose, offering smart speakers are based in the US, leveraging their huge customer base and neural networks to leverage the far-field speech and voice recognition capabilities with their smart speaker products in this region.

Request Sample pages of the Report:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=39497510

Major players in the far-field speech and voice recognition market covered in this report are Synaptics (US), Texas Instruments (US), Qualcomm (US), Sensory (US), STMicroelectronics (Switzerland), Harman (US), Andrea Electronics (US), Cirrus Logic (US), Microsemi (US), DSP Group (US), and Knowles (US).

Please Explore Relevant Reports:

Text-to-Speech Market by Vertical (Healthcare, Enterprise, Consumer Electronics, Automotive & Transportation, Finance, Education, Retail), and Geography(Americas, Europe, Asia Pacific) - Global Forecast to 2022

Speech and Voice Recognition Market by Technology (Speech and Voice Recognition), Vertical (Automotive, Consumer, Government, Enterprise, Healthcare, BFSI), Deployment (On Cloud & On-Premises/Embedded), and Geography - Global Forecast to 2024 

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/far-field-speech-voice-recognition-market.asp

Visit Our Web Site: https://www.marketsandmarkets.com

SOURCE MarketsandMarkets