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", 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.
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Americas is likely to continue to hold the largest market share during the forecast period
The penetration of smart home applications, such as smart speakers, in North America, 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 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. Additionally, the penetration of smart devices in the region is also fueling the demand for the far-field speech and voice recognition market.
Key Market Players
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) are a few major players in the speech and voice recognition market.
Qualcomm is involved in introducing new products and services for voice and data communications. For example, Qualcomm delivers a fully integrated far-field smart audio reference platform for the Amazon Alexa voice service. The Qualcomm Smart Audio Platform includes 6-microphone far-field voice and supports the development of networked audio devices and premium smart speakers that have Alexa built-in. The kit includes Qualcomm’s Snapdragon APQ8017 applications processor with integrated quad-core ARM Cortex-A53 processor platform, Hexagon DSP, and Wi-Fi+ Bluetooth connectivity. The platform’s voice software also integrates echo-cancellation, noise suppression, and “barge-in” capability, supporting a reliable voice interface in loud or noisy environments even when users are far from smart speakers. Qualcomm’s robust R&D capabilities have contributed to developing a strong patent portfolio. It is also investing in developing other significant technologies used in cellular and certain consumer electronic devices and networks such as audio coding, including EVS (enhanced voice services).
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