Far-Field Speech and Voice Recognition Market by Component (Microphones, Digital Signal Processors, Software), Microphone Solutions (Single Microphone, Linear Arrays, Circular Arrays), Application and Geography - Global Forecast to 2028

Far-Field Speech and Voice Recognition Market by Component (Microphones, Digital Signal Processors, Software), Microphone Solutions (Single Microphone, Linear Arrays, Circular Arrays), Application and Geography - Global Forecast to 2028

The far-field speech and voice recognition market is projected to grow from USD 3.7 billion in 2023 and is projected to reach USD 6.9 billion by 2028; it is expected to grow at a CAGR of 13.1% from 2023 to 2028.

Increasing adoption of voice control-based smart speakers, enhanced accuracy through advanced front-end hardware, and technical advancement of deep-learning-based far-field microphones are the factors expected to fuel the growth of the far-field speech and voice recognition market.

“Microphones segment of the far-field speech and voice recognition market to witness highest growth during the forecast period.”

By component, the far-field speech and voice recognition market has been segmented into microphones, digital signal processors, and software. The microphones segment is expected to grow at the highest CAGR during the forecast period. Far-field microphones equipped with advanced noise-cancellation and beamforming technology can enhance the precision of voice recognition systems, leading to better performance even in environments with high levels of noise and over longer distances. This has resulted in a growing demand for high-quality microphones that can capture voice commands from across the room, as they have been integrated into various smart devices such as smart speakers, soundbars, and smart TVs. This trend has created a new market for high-end microphones, allowing individuals to easily control their devices and enhance their overall experience.

“Automotive application segment to witness significant growth for far-field speech and voice recognition market during the forecast period.” The growth of the far-field speech and voice recognition market in the automotive industry is driven by several factors. These include the increasing demand for connected cars, the need for safer driving, and the convenience of hands-free communication. Advancements in natural language processing and machine learning are making it possible for automotive systems to accurately recognize and respond to spoken commands, further driving the growth of the market. As a result, major players in the automotive industry are investing heavily in the development of far-field speech and voice recognition technology, driving innovation, and creating new growth opportunities.

“North America to hold a major market share of the far-field speech and voice recognition market during the forecast period” North America is expected to hold a major market share for far-field speech and voice recognition market during the forecast period. The region has been highly responsive to the integration of the latest technologies, such as artificial intelligence (AI) and the Internet of Things (IoT). The North American far-field speech and voice recognition market is primarily driven by the increased adoption of AI software and large-scale deployment of neural networks across various end-use verticals, including consumer electronics and automotive. In consumer electronics, smart speakers are among the key application areas of the far-field speech and voice recognition market. The growing popularity of connected and smart devices boosts the growth of the smart speaker market in this region. According to a National Public Radio (NPR) (US) survey, 35% of Americans own a smart speaker as of 2022. In 2021, 32% of US adults owned a smart speaker. This significant increase in smart speakers across North America will fuel market opportunities in the region.

Extensive primary interviews were conducted with key industry experts in the far-field speech and voice recognition market space to determine and verify the market size for various segments and subsegments gathered through secondary research. The break-up of primary participants for the report has been shown below:

The report profiles key players in the far-field speech and voice recognition market with their respective market ranking analysis. Prominent players profiled in this report are Qualcomm Incorporated (US), HARMAN International (US), Synaptics Incorporated (US), NXP Semiconductors (Netherlands), STMicroelectronics (Switzerland), Andrea Electronics (US), Cirrus Logic (US), Microchip Technology Inc. (US), Infineon Technologies AG (Germany) and Knowles Corporation (US).

Apart from this, Analog Devices, Inc. (US), Sensory, Inc. (US), Meeami Technologies (India), TDK Corporation (Japan), Vocal Technologies (US), Vesper Technologies (US), Alango Technologies Ltd. (Israel), MediaTek Inc. (Taiwan), CEVA, Inc. (US), Fortemedia, Inc. (US), XMOS (UK) are among a few emerging companies in the far-field speech and voice recognition market.

Research Coverage: This research report categorizes the far-field speech and voice recognition market on the basis of component, microphone solution, application, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the far-field speech and voice recognition market and forecasts the same till 2028. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the far-field speech and voice recognition ecosystem.

Key Benefits of Buying the Report The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall far-field speech and voice recognition market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Enhanced accuracy through advanced front-end hardware, Increasing adoption of voice control-based smart speakers, and Technological advancement of deep-learning-based far-field microphones), restraints (Privacy threats, and Lack of accuracy in noisy and harsh environments), opportunities (Expanding into multilingual and global markets, Deployment in smart home devices, and Increasing application in service robotics), and challenges (Power issues and lack of standardization) influencing the growth of the far-field speech and voice recognition market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the far-field speech and voice recognition market.

Market Development: Comprehensive information about lucrative markets – the report analysis the far-field speech and voice recognition market across varied regions

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the far-field speech and voice recognition market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Qualcomm Incorporated (US), HARMAN International (US), Synaptics Incorporated (US), NXP Semiconductors (Netherlands), STMicroelectronics (Switzerland), among others in the far-field speech and voice recognition market.