The Asia Pacific Far-Field Speech and Voice Recognition Market would witness market growth of 14.8% CAGR during the forecast period (2023-2030).
Smart device usage has risen across various sectors due to the rapid development of deep learning, AI, and machine learning technologies. Thus, the market has grown due to the adoption of sophisticated technology. Additionally, market participants are spending much money on R&D projects to raise the standard of far-field identification. In the following years, market growth is anticipated to be driven by improvements in the performance and efficiency of smart devices. The market is impacted by a number of variables, including the expansion of voice-activated smart speakers and the rising effect of front-end hardware components on speech and voice recognition accuracy.
The fast rise in popularity of speech recognition technology and technical breakthroughs have encouraged using these systems in the automobile industry. The need for automobile speech recognition systems is being driven by the increased demand for automobiles, boosting both vehicle production and sales. The need for automobile speech recognition systems is anticipated to grow as consumer spending on premium services, entertainment, and technological developments for comfort and safety rises. The speech recognition system performs better because of the lower noise levels within the car cabin due to enhanced acoustics employed in vehicle manufacture.
The Japan Automobile Dealers Association (JADA) estimates that nearly 1.4 million new electric cars were sold in 2020. As a percentage of all new automobile sales, electric cars represented 36.2%, up from 32.9% in 2017 and 35.2% in 2019. Most automobiles marketed in nations such as China and South Korea have connectivity and some kind of speech recognition technology. The Asia Pacific area has a significant need for automotive speech recognition systems due to the rising prevalence of connected cars in new vehicle sales in countries like China. As a result, the market is predicted to expand steadily in the APAC region.
The China market dominated the Asia Pacific Far-Field Speech and Voice Recognition Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $746.6 million by 2030. The Japan market is experiencing a CAGR of 14.1% during (2023 - 2030). Additionally, The India market would register a CAGR of 15.5% during (2023 - 2030).
Based on Offering, the market is segmented into Digital Signal Processors, Microphone (Circular Arrays, Single Arrays, and Single Microphone) and Software. Based on Application, the market is segmented into Smart Speakers, Smart TV/STB, Automotive, Robotics and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Far-Field Speech and Voice Recognition Market is Projected to reach USD 9 Billion by 2030, at a CAGR of 13.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Andrea Electronics Corporation, Qualcomm, Inc., Cirrus Logic, Inc., Knowles Corporation, Harman International Industries, Inc. (Samsung Electronics Co., Ltd.), Infineon Technologies AG, Microchip Technology Incorporated, NXP Semiconductors N.V., STMicroelectronics N.V. and Synaptics Incorporated.
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