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Sound Recognition Market Analysis
The global sound recognition market will touch USD 4.287987 Billion at a 15.20% CAGR by 2032, as per the recent Market Research Future report.
Drivers
Increasing Use of Biometrics to Boost Market Growth
Biometric authentication as an access credential, which requires strong, unchangeable, and complete algorithms to verify individuals, is expected to drive the market for sound recognition. By integrating biometrics with AI based voice recognition technology, the risk of duplicate or forgery will be reduced, providing better biometric security than speech recognition alone.
Opportunities
Growing Demand for AI-Based Sound Recognition Technology to offer Robust Opportunities
AI based sound recognition technology is projected to grow at a rapid rate over the next few years. Market vendors are increasingly involved in the development of sound recognizing products that integrate with intelligent technology to make life easier and more adaptable for customers.
Restraints and Challenges
Data Security Issues to act as Market Restraint
The data security issues, limitations to accurately decipher complex audio signals, and privacy concerns may act as market restraints over the forecast period.
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Key Players
Eminent market players profiled in the global sound recognition market report include
Market Segmentation
The global sound recognition market is bifurcated based on application and device.
By device, smartphones and tablets will lead the market over the forecast period.
By application, automotive will domineer the market over the forecast period.
COVID-19 Analysis
The sound recognition market slowed down slightly in 2020 due to lockdowns imposed by various governments in response to the coronavirus disease (COVID-19) pandemic. The lockdown situation affected production, supply networks, logistics and business continuity for various industries. Manufacturing, transportation & logistics, and retail & consumer goods were among the major industries facing the greatest challenges. A lack of human resources to operate production lines, supply chains, and transportation impacted the availability of needed items. At the beginning of 2021, many industries began to show signs of recovery, but at the same time, the demand for sound detection solutions and services began to increase due to the growing need for improved customer experiences and personalized relationships. Multiple industries have deployed a wide range of speech recognition products and services to address business-critical practices, improve operations, and support digital transformation programs by enhancing user identification.
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Regional Analysis
North America to Head Sound Recognition Market
The North American sound recognition market area will dominate this market; the region is a hub of technological innovation and home to many leading companies developing cutting-edge sound recognition technologies, which will boost market growth in this region. This increase is attributed to fostering innovation and research in artificial intelligence and machine learning, which are pivotal for sound recognition technology. Secondly, high adoption rates of smart home devices, smartphones, and automotive technologies in North America have accelerated the demand for sound recognition features, driving market growth.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
