Speech and Voice Recognition Market expected to reach $24.9 billion by 2025

According to the new market research report "Speech and Voice Recognition Market by Technology (Speech and Voice Recognition), Vertical (Automotive, Consumer, Government, Enterprise, Healthcare, BFSI), Deployment (On Cloud & On-Premises/Embedded), and Geography - Global Forecast to 2025", the market is expected to grow from USD 7.5 billion in 2018 to USD 24.9 billion by 2025, at a CAGR of 18.72%. The growth of the speech and voice recognition market can be attributed to the high growth potential in healthcare application, growing demand for voice authentication in mobile banking application, rapid proliferation of multifunctional devices or smart speakers, and growing impact of AI on the accuracy of speech and voice recognition. Moreover, the development of speech and voice recognition software for micro-linguistics and local languages, use of speech and voice recognition technology in the education of temporarily and permanently disabled students, and role of speech and voice recognition technology in autonomous cars are expected to create huge growth opportunities for the players in the speech and voice recognition market.

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Speech and voice recognition market for consumer vertical to grow at highest rate during forecast period

Increasing demand for intelligent virtual assistant (IVA) smart speakers with voice capabilities is expected to be the prominent driver for the speech and voice recognition market regarding consumer vertical during the forecast period. IVA smart speakers such as Amazon Eco, Google Home, and Apple HomePod have witnessed triple digit growth in North America and Europe during the last 2 years. Moreover, the speech and voice recognition is expected to witness significant growth in personal robotics market such as robotics pets, cleaning robots, and robot companion.

Automatic speech recognition segment dominated the global speech recognition market throughout the forecast period

Speech recognition is increasingly gaining traction with a number of interactive speech applications available in the market. With growing need for embedded computing and demand for emerging embedded platforms, speech recognition systems (SRS) are also required on these. Moreover, growing demand for speech-enabled consumer electronics devices such as smart home devices, mobile devices, and wearable devices is expected to spur the rapid growth of the speech recognition market during the forecast period.

Americas to hold largest size of speech and voice recognition market by 2025

America has been extremely responsive to the latest technological advancements, such as the integration of artificial intelligence (AI) and the Internet of things (IoT). The speech and voice recognition market is dominated by the Americas owing to the high adoption rate of artificial intelligence software and large-scale deployment of neural networks across various end-use verticals. The major driving factor in the Americas is the presence of major vendors of speech and voice recognition technology such as Nuance Communication (US), Microsoft (US), Amazon (US), IBM (US), and Sensory (US).

Major players in the speech and voice recognition market covered in this report are Nuance (US), Microsoft (US), Alphabet (US), IBM (US), Amazon (US), Sensory (US), Cantab Research (UK), iflytek (China), Baidu (China), and Raytheon BBN Technologies (US).

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Time-of-Flight (ToF) Sensor Market expected amazing growth worth $6.9 billion by 2025

 

According to the new research report, "Time-of-Flight (ToF) Sensor Market by Resolution (QQVGA, HQVGA, QVGA, & VGA), Application (Augmented Reality & Virtual Reality, LIDAR, Machine Vision, 3D Imaging & Scanning, and Robotics & Drone), Product Type, Vertical and Geography - Global Forecast to 2025" is expected to grow from USD 2.8 billion in 2020 to USD 6.9 billion by 2025, at a CAGR of 20.0%. The growth of this market is mainly driven by the increasing demand for ToF sensors from the automotive industry and growing adoption of 3D cameras in smartphones and increasing use of such smartphones. The increasing adoption of 3D machine vision systems in industries such as aerospace & defense, consumer electronics, and healthcare and growing deployment of Industry 4.0 are expected to provide major opportunities for the growth of the ToF sensor market.

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AR & VR application to witness highest CAGR during 2020–2025

The implementation of ToF sensors in 3D cameras will boost the ToF sensor market growth for AR and VR applications. Additionally, the use of AR heads-up displays (HUDs) in automobiles ensures comfortable and safe driving. AR-based HUDs allow drivers to see the virtual information projected on the display. AR-based HUDs enable ADAS to display visual warning alerts. The rising demand for AR HUDs and projectors is driving the growth of the ToF sensor market. Simiarly, VR systems are increasingly being used in entertainment, education, healthcare, and industrial applications, among many others. VR helps users to simulate complex tasks in a virtual space. The use of sensing technology in a VR devices makes it easier for users to have a realistic experience in a virtual space through sophisticated and accurate location/motion detection. For that, VR systems use ToF sensors for measuring the distance to an object.

Consumer electronics vertical expected to exhibit highest CAGR in ToF sensor market from 2020 to 2025

The ToF sensor market for the consumer electronics vertical is expected to grow at the highest CAGR from 2020 to 2025. Rising demand for 3D-enabled devices in consumer electronics and increasing users of smartphones are the key factors for the growth of the ToF sensor market for consumer electronics. Application areas of ToF sensors in consumer electronics include smartphones, wearables, tablet PCs, cameras, etc. Various ToF sensors such as image, position, and ultrasonic sensors are used in these consumer electronic devices. High reliability, low-power consumption, low cost, and easy integration are the drivers for the integration of 3D sensing technology in consumer electronics. The rising demand for these consumer electronic devices is surging the demand for ToF sensors, which, in turn, gives an impetus to further advancements in ToF technology.

Growing demand for smartphones will boost demand for ToF sensor in APAC during forecast period

The ToF sensor market in APAC is expected to grow at the highest CAGR during the forecast period owing to the rapid industrialization and high adoption of consumer electronics in developing countries such as China, India, and the Philippines in this region. The easy availability of low-cost labor has led to increased manufacturing of different electronic components and devices in this region, thereby leading to the emergence of APAC as a global manufacturing hub. This, in turn, has led to increased demand for ToF sensors for monitoring and inspection applications in the manufacturing industry of the region.

Key players in the time-of-flight (ToF) sensor market are Texas Instruments (US), STMicroelectronics NV (Switzerland), Infineon Technologies AG (Germany), Panasonic Corporation (Japan), Teledyne Technologies Incorporated (US), Keyence Corporation (Japan), pmd Technologies AG (Germany), Sharp Corporation (Japan), Sony Corporation (Japan), and Melexis NV (Belgium). These players are increasingly adopting growth strategies such as product launches and developments, partnerships, collaborations, agreements, and acquisitions to develop and introduce new technologies and products in the market.

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Optoelectronic Components Market expected to reach $52.7 billion by 2025

 

According to the new research report "Optoelectronic Components Market by Component (Sensor, LED, Laser Diode, and Infrared Components), Application (Measurement, Lighting, Communications, and Security & Surveillance), Material, Vertical, and Region - Global Forecast to 2025", the global optoelectronic components market size is projected to grow from USD 41.4 billion in 2020 to USD 52.7 billion by 2025, recording a CAGR of 5.0%. Emerging opportunities for optoelectronic components and R&D could lead to innovation in the optoelectronic components industry. Promising industrial IoT applications provide major growth opportunities to market players. The optoelectronic components industry growth is mainly driven by the increased use of infrared components in consumer electronics & automobiles, long life & low power consumption, demand for improved imaging & optical sensing solutions in the healthcare vertical and suitable physical properties of optoelectronic sensors to operate in harsh environments.

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Sensor component to witness the highest CAGR during the forecast period

The sensor component is projected to record the highest CAGR in the optoelectronic components market from 2019 to 2025, owing to the usage of several types of sensors, including optical, image, phototransistors, photodiodes, and photo relays for varied applications across several industries. The sensor component segment has been further subsegmented into phototransistors, photodiodes, photo relays, image sensors, optical sensors, and ultraviolet sensors.

Measurement application to hold the largest share in the optoelectronic components industry during the forecast period

The application segment comprises measurement, lighting, communications, security & surveillance, and others (geographical survey, scanning, and spectrometry). The measurement segment in the optoelectronic components market is projected to hold the largest share during the forecast period. Measurement systems use optoelectronic sensors to convert light signals to electric current and are used for several applications such as machine vision, monitoring of process and operations, control of process & operation, and experimental engineering analysis, among others.

Silicon carbide material to witness the highest CAGR during the forecast period

Silicon carbide material is projected to record the highest CAGR in the optoelectronic components market from 2019 to 2025, owing to its inherent radiation resistance, high temperature operating capacity, and high voltage & power handling capacity. Moreover, the flexibility of silicon carbide can be used as substrate. Therefore, silicon carbide has gained traction in several applications across verticals such as telecommunication, automotive, medical, military, industrial, and more.

Consumer electronics vertical to hold the largest share in the optoelectronic components industry during the forecast period

The vertical segment comprises automotive, consumer electronics, telecommunication, military & aerospace, medical, residential, commercial, manufacturing, and others (utility, food & beverages, and pulp & paper). The consumer electronics segment is projected to hold the largest share during the forecast period.  The adoption of optoelectronic components in the consumer electronics sector has increased due to technological advancements and the increasing use of consumer goods such as high-end sophisticated cameras, photocopy machines, smartphones, blue-ray storage devices, and flat & flexible television displays, and more.

Presence of prominent system suppliers to drive the demand for pressure sensors in North America during the forecast period

The optoelectronic components market in North America is projected to grow at the highest CAGR during the forecast period. The US, Canada, and Mexico are the major contributors to the growth of the market in North America.

North America is one of the most technologically advanced markets for optoelectronic components owing to the presence of prominent system suppliers, large semiconductor companies, LED, laser, and sensor manufacturers in the region.

Key players operating in the optoelectronic components market include Hamamatsu (Japan), Osram (Germany), TT Electronics (UK), Vishay (US), ON Semiconductor (US), Cree (US), Trumpf (Germany), SICK AG (Germany), Samsung (South Korea), Sony (Japan), and Broadcom (US). Other major companies focus on organic and inorganic growth strategies such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to increase their revenue.

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Interactive Kiosk Market expected to reach $32.8 billion by 2025

 

The report "Interactive Kiosk Market by Offering (Hardware and Software & Services), Type (Bank Kiosks, Self-service Kiosks, and Vending Kiosks), Location (Indoor and Outdoor), Panel Size (17”-32” and Above 32”), Vertical, and Region - Global Forecast to 2025", is expected to grow from USD 26.2 billion in 2020 to USD 32.8 billion by 2025, at a CAGR of 4.6%. The growth of this market is driven by factors such as enhanced shopping experience for customers, lower investment costs than traditional outlets, enhanced applications other than conventional ones, and innovations in touch screen display and glass technology.

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Interactive kiosk market for bank kiosks expected to grow at the highest CAGR during the forecast period

Interactive kiosks are largely used for banking and financial services. The market for bank kiosks is expected to register the highest CAGR during the forecast period. The bank kiosks, through their ability to perform different functions, provide more convenient, flexible, high-performance, point-of-interaction solutions to consumers for their banking activities. The customers can complete standard transactions and get remote assistance for complex transactions through these kiosks.

Panel size above 32” is expected to grow at higher CAGR from 2020 to 2025

The market for above 32” interactive kiosks are expected to grow at a higher CAGR from 2020 to 2025. These large-sized displays are very expensive. Hence, they are primarily used in some niche applications. However, improved product performance and reduced cost are expected to open up new application areas for these displays in the corporate, educational, hospitality, and retail sectors during the forecast period.

APAC expected to grow at highest CAGR during forecast period

The interactive kiosk market is rapidly expanding in APAC. The growth of the market in APAC can also be attributed to the advancements in technology and emergence of new business models. The booming retail sector and emerging infrastructures in the region would further facilitate the growth of the kiosks in the APAC region. The growing popularity of kiosk products, large potential customer base, and technological advancements taking place in countries such as India and China are the factors contributing to the growth of the interactive kiosk market in APAC.

Some of the major players operating in the interactive kiosk market are KIOSK Information Systems (US), Olea Kiosks Inc. (US), Frank Mayer and Associates, Inc. (US), Source Technologies (US), NCR Corporation (US), Diebold Nixdorf (US), Embross (Canada), Meridian Kiosks (US), REDYREF Interactive Kiosks (US), lilitab, LLC (US).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Die Bonder Equipment Market expected to reach $972 million by 2024

 

According to the research report, "Die Bonder Equipment Market by Type (Semiautomatic Die Bonder, Fully Automatic Die Bonder), Bonding Technique, Supply Chain Participant (IDM Firms, OSAT Companies), Device, Application (Consumer Electronics), and Region - Global Forecast to 2024", is projected to grow from USD 820 million in 2019 to USD 972 million by 2024; it is expected to grow at a CAGR of 3.5% from 2019 to 2024. Key factors fueling the growth of this market are the rising demand for miniature electronic components and the increasing adoption of stacked die technology in IoT devices.

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“IDM firms accounted for largest share of die bonder equipment market in 2019”

In 2018, IDM firms captured the largest share of the die bonder equipment industry. Most of the IDM players such as Samsung (South Korea), Texas Instruments (US), Song (Japan), and STMicroelectronics (Switzerland) are tire 1 companies and have significant presence across the world, with a vast customer base. These companies are investing heavily in their R&D activities to develop technologically advanced, energy-efficient, and miniaturized products, such as RFID circuits, smart ICs, ultra-low-power microcontrollers, sensors for consumer electronics, automotive, and industrial applications. For instance, in 2018, Texas Instruments (US) and Samsung (South Korea) invested USD 1.6 billion and USD 16.8 billion, respectively, in research and development of technologically advanced and miniaturized products. IDMs use advanced die bonding equipment to accurately assemble complicated semiconductor equipment. Also, the dominance of IDM firms is expected to remain constant in the near future due to the growing number of semiconductor fabrication plants operated by IDM companies across the world.

“Market for MEMS and MOEMS is projected to grow at highest CAGR during forecast period”

Among devices, market for MEMS and MOEMS is projected to grow at the highest CAGR from 2019 to 2024. MEMS and MOEMS devices are increasingly being used in the automotive, consumer electronics, and industrial sectors. These devices need to be used in harsh environmental conditions. Therefore, the packaging and assembly of these devices should be strong enough to operate in harsh environmental conditions. This demand can be fulfilled by advanced die bonding methods and equipment. Hence, the market for MEMS and MOEMS is expected to grow at the highest CAGR during the forecast period.

“Asia Pacific (APAC) is expected to hold largest share of die bonder equipment market in 2024”

APAC is expected to hold the largest share of the die bonder equipment industry in 2024. The growing number of IDMs in the region is expected to boost the die bonder equipment market growth in the near future. Similarly, the mass production of electronic products, such as smartphones, wearables, and white goods, in China and Taiwan is also expected to accelerate market growth in APAC. Additionally, more than 60% of OSAT players present across the world have their headquarters in APAC. These OSAT companies use die bonding equipment in the semiconductor fabrication process.

BE Semiconductor Industries N.V. (Netherlands), ASM Pacific Technology Ltd. (Singapore), Kulicke & Soffa (Singapore), Mycronic AB (Sweden), Palomar Technologies, Inc. (US), West·Bond, Inc. (US), MicroAssembly Technologies, Ltd. (Israel), Finetech GmbH & Co. KG (Germany), Dr. Tresky AG (Switzerland), Smart Equipment Technology (France) are the key players in the die bonder equipment market. These players are increasingly undertaking strategies such as product launches, expansions, agreements, partnerships, collaborations, and acquisitions to increase their market share.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Focused Ion Beam Market worth $1,185 million by 2024

 

According to the research report "Focused Ion Beam Market by Ion Source (Ga+ Liquid Metal, Plasma), Application (Failure Analysis, Nanofabrication), Vertical (Electronics & Semiconductor, Industrial Science, Material Science, Bioscience), and Region - Global Forecast to 2024", is projected to grow from USD 820 million in 2019 to USD 1,185 million by 2024; it is expected to grow at a CAGR of 7.6% from 2019 to 2024. Key factors fueling the growth of this market include the rise in demand for failure analysis in the electronics & semiconductor industry and increase in demand for ion beam lithography process using focused ion beam systems for producing patterns across the surface of samples.

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“The Ga+ liquid metal segment accounted for the largest share of the focused ion beam market in 2019.”

In 2019, the Ga+ liquid metal segment captured the largest share of the focused ion beam market. The growth of this segment can be attributed to several advantages offered by focused ion beam systems using Ga+ liquid metal as an ion source. Moreover, the majority of manufacturers of focused ion beam systems are deploying Ga+ liquid metal ion sources in their systems. Several applications such as ion implanters, ion projection lithography, and particle accelerator injectors use plasma ion source-based focused ion beam systems.

“The failure analysis segment of the market is projected to grow at the highest CAGR during the forecast period.”

Among applications, the failure analysis segment of the focused ion beam market is projected to grow at the highest CAGR from 2019 to 2024. The growth of the failure analysis segment of the market can be attributed to the increased use of focused ion beam systems for carrying out the failure analysis of components or devices to recognize the cause leading to their failure during their manufacturing process. Manufacturers use focused ion beam systems to test and analyze the performance of different components or devices, thereby leading to an increased demand for these systems from the electronics & semiconductor vertical.

“The electronics & semiconductor segment of the focused ion beam market is projected to account for the largest size from 2019 to 2024.”

Among verticals, the electronics & semiconductor segment accounted for the largest share of the focused ion beam market in 2019. The growth of this segment can be attributed to the increasing consumer demand for fast, compact, pocket-friendly, and highly power-efficient portable devices. As the size of electronic components shrinks, it affects their reliability and performance. Focused ion beam systems are required to analyze the performance of these components.

“The focused ion beam market in APAC is projected to grow at the highest CAGR during the forecast period.”

The focused ion beam market in APAC is projected to grow at the highest CAGR from 2019 to 2024. The growth of the market in this region can be attributed to increased investments in R&D activities by government organizations and manufacturing companies as well as expansions of research centers carried out by focused ion beam system manufacturers in APAC. Governments of countries such as Japan, China, and India have been taking rapid initiatives to encourage companies to set up their manufacturing and R&D facilities there.

Key players in the market include Thermo Fisher Scientific, Inc. (US), Hitachi High-Technologies Corporation (Japan), ZEISS International (Germany), Tescan (UK), JEOL Ltd. (Japan), HORIBA, Ltd. (Japan), Eurofins Scientific (Luxembourg), and A&D Company, Limited (Japan). These players are increasingly undertaking product launches, agreements, partnerships, collaborations, joint ventures, and mergers and acquisitions to increase their market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Atomic Force Microscopy (AFM) Market worth $586 million by 2024

 

The report "Atomic Force Microscopy (AFM) Market by Offering (AFM, Probes, Software), Grade (Industrial Grade, Research Grade), Applications (Materials Science, Life Sciences, Semiconductor & Electronics, Academics), and Region - Global Forecast to 2024",was valued at USD 441 million in 2019 and is projected to reach USD 586 million by 2024; it is expected to grow at a CAGR of 5.8% during the forecast period. The key drivers of atomic force microscopy is committed support from several governments to promote  nanotechnology and nanoscience research and development. Also, high demand for 3D ICs from semiconductor and electronics industry is is expected to lay new growth opportunity for atomic force microscopy market during the forecast period.

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Probes offering for Atomic Force Microscopy held the fastest market share in 2019

The market for probes is expected to grow at the highest CAGR. Probes play a dominant role in the AFM market, in terms of volume, as the lifecycle of probes is shorter than the complete atomic force microscope, thereby leading to a higher requirement for probes than AFM.

Industial grade to hold the largest market share in Atomic Force Microscopy market during the forecast year

The demand for indusrial grade microscopes is propelled by high-quality images to detect defects in miniaturized products. Hence, industrial grade AFM are more in demand owing to their high precision in detecting and visualizing even the smallest surface structures and defects in nanomaterials.

Semiconductors and electronics to hold the fastest market share in Atomic Force Microscopy market during the forecasted year

Semiconductors and electronics is expected to grow at the highest rate. The semiconductor industry is one of the major industries using advanced microscopes such as transmission electron microscopes, atomic force microscopes, 3D optical microscopes, and confocal microscopes. AFM is used extensively in the semiconductor industry for R&D, quality control (QC), monitoring process development, and failure analysis. The growing demand for miniature transistor chips, nanoelectronics, quantum dots, and optoelectronics is the key factor surging the demand for microscopes in the semiconductor industry

APAC hold the largest market share between 2019 and 2024

The growth of the atomic force microscopy in APAC market can be attributed to the growing R&D funding for the development of microscopes, increasing nanotechnology research, and growing expertise and academic excellence, along with the availability of nanomaterials at lower costs.

The major players in Atomic Force Microscopy market are Bruker (US), Park Systems (South Korea), Hitachi (Japan), Horiba (Japan), Oxforfd Instrumenst (UK), Nanosurf (Switzerland), WITec (Germany), NT-MDT (Russia), NanoMagnetics Instruments (UK), Nanonics Imaging (Israel).

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