Overview and Scope
Far-field speech and voice recognition refer to technologies that enable the recognition of a user’s voice in noisy environments from a distance, typically using speaker localization methods, noise cancellation, and beamforming technologies. These systems are crucial for human-machine interactions, allowing devices to accurately detect, interpret, and process spoken language and voice commands.
Sizing and Forecast
The far-field speech and voice recognition market size has grown rapidly in recent years. It will grow from $4.08 billion in 2023 to $4.81 billion in 2024 at a compound annual growth rate (CAGR) of 18.0%. The growth in the historic period can be attributed to advancements in natural language processing (NLP), increasing demand for smart home devices, integration into automotive infotainment systems, rise of virtual assistants and AI-powered devices, and accessibility improvements for individuals with disabilities.
The far-field speech and voice recognition market size is expected to see rapid growth in the next few years. It will grow to $9.49 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to the expansion of voice-activated IoT devices, growing adoption in healthcare and telemedicine, integration with smart cities and public infrastructure, enhanced multimodal, interfaces and contextual understanding, and continued improvement in speech recognition accuracy. Major trends in the forecast period include voice commerce and payment integration, personalized voice assistants and user profiles, emotion recognition and sentiment analysis, enhanced multilingual support and localization, and voice biometrics for enhanced security and authentication.
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Segmentation & Regional Insights
The far field voice and speech recognition market covered in this report is segmented –
1) By Component: Microphones, Digital Signal Processors, Software
2) By Microphone Solution: Single Microphone, Linear Arrays, Circular Arrays
3) By Application: Smart TV Or STB, Smart Speakers , Automotive, Robotics, Smart Thermostats, Smart Lighting, Other Applications
North America was the largest region in the far-field speech and voice recognition market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the far field voice and speech recognition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rise in demand for voice-control-based smart speakers is expected to propel the growth of the far-field speech and voice recognition market going forward. Voice control-based smart speakers refer to intelligent devices that utilize natural language processing to interpret and respond to verbal commands, enabling hands-free control of various functions such as music playback, smart home devices, and information retrieval. The rise in demand for voice-control-based smart speakers is driven by their convenience, hands-free operation, seamless integration with smart home devices, and advancements in natural language processing technology. Far-field speech and voice recognition technology allow users to interact with smart speakers from a distance, typically across a room, without the need to be near the device. This technology enables seamless, hands-free interaction and enhances the functionality and versatility of these devices in various settings and use cases. For instance, in November 2023, according to Gov.uk, a UK-based public sector information website, 40% of UK households now own a smart speaker device, with sales of around 2 million units per year – more than twice the annual sales of DAB (Digital Audio Broadcasting) radios. Therefore, the rise in demand for voice control-based smart speakers is driving the growth of the far-field speech and voice recognition market.
Key Industry Players
Major companies operating in the far field voice and speech recognition market are Qualcomm Inc., Texas Instruments Inc., Mediatek Inc., STMicroelectronics, Infineon Technologies, NXP Semiconductors, Tdk Corporation, Goertek Inc., Analog Devices Inc., Microchip Technology, Harman International, Cirrus Logic, Synaptics Incorporated, Matrix, Knowles Corporation, DSP Group Inc., Andrea Electronics, Microsemi Corporation , Sensory Inc., Meeami Technologies Private Limited, Alango Technologies Ltd. , Fortemedia Inc., VOCAL Technologies, Vesper Technologies, Adaptive Digital Technologies, MightyWorks Inc.
The far field voice and speech recognition market report table of contents includes:
- Executive Summary
- Far Field Voice And Speech Recognition Market Characteristics
- Far Field Voice And Speech Recognition Market Trends And Strategies
- Far Field Voice And Speech Recognition Market – Macro Economic Scenario
- Global Far Field Voice And Speech Recognition Market Size and Growth
- Far Field Voice And Speech Recognition Market Segmentation
- Far Field Voice And Speech Recognition Market Regional And Country Analysis
………………
- Key Mergers And Acquisitions In The Far Field Voice And Speech Recognition Market
- Far Field Voice And Speech Recognition Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Far Field Voice And Speech Recognition Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Far Field Voice And Speech Recognition Market, Segmentation By Microphone Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Far Field Voice And Speech Recognition Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…………
Table 74: Qualcomm Inc. Financial Performance
Table 75: Texas Instruments Inc. Financial Performance
Table 76: Mediatek Inc. Financial Performance
Table 77: STMicroelectronics Financial Performance
Table 78: Infineon Technologies Financial Performance
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