Semiconductor and Electronic Market Research Report Study

Due to huge developments and innovations in technology day-by-day, the Semiconductor and Electronics has become a highly emerging sector. In the present day scenario, many investors are actively investing in latest technologies. Research Report Analysis will help you get more flavors, deep into its market and regions where this technology is experiencing a huge demand. Also, it will help in getting you the "right business at a right time," wherein you will get more $ in revenue.

Thursday, 10 February 2022

NDT and Inspection Market estimated to grow $11.7 billion by 2025

The report "NDT and Inspection Market with COVID-19 Impact by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy-Current, Ultrasonic, Radiographic, Acoustic Emission), Method, Service, Vertical, and Region - Global Forecast to 2025", size is estimated to grow from USD 8.4 billion in 2020 to USD 11.7 billion by 2025, growing at a CAGR of 7.0%. Stringent government regulations regarding public safety & product quality and continuous advances in electronics, automation, and robotics are among a few major factors driving the NDT and inspection markets growth. The high adoption of IoT devices and rising need to assess aging assets health also propel the development of the NDT and inspection market.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=882

Browse 174 market data Tables and 60 Figures spread through 270 Pages and in-depth TOC on "NDT and Inspection Market with COVID-19 Impact by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy-Current, Ultrasonic, Radiographic, Acoustic Emission), Method, Service, Vertical, and Region - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/non-destructive-testing-ndt-equipment-services-market-882.html

“The ultrasonic testing (UT) technique to hold the largest share of the NDT and inspection market in 2019”

Ultrasonic testing is expected to account for the largest market share in 2019. It is presently the most popular NDT technique owing to its ability to identify defects and determine their severity accurately. Some advanced techniques such as ultrasonic immersion testing and guided-wave ultrasonic testing can also be used for critical applications in the oil & gas and aerospace industries. Ultrasonic testing has evolved considerably over the last few decades and is the most important NDT technique for identifying and quantifying surface and subsurface defects. Ultrasonic NDT inspection can be conducted by using a wide range of methods, a few of which are manual and cost-effective, while others need advanced automated equipment for determining faults in critical applications. This technique can also be deployed to inspect objects that are not easily accessible through direct contact, such as inspecting the piping system buried under the earths surface.

The market for the manufacturing vertical expected to grow at the highest CAGR during the forecast period

The manufacturing sector is expected to be the fastest-growing vertical in the NDT and inspection market from 2020 to 2025. This sector is receiving a boost from emerging markets such as China, India, and South Africa due to their growing manufacturing and industrial base. The NDT and inspection technique is widely used in manufacturing to ensure the integrity of components produced. This technique is primarily employed for preventive maintenance and failure analysis and the post-care of the damages.

North America expected to hold the largest market share during the forecast period

North America is expected to hold the largest share of the overall NDT and inspection market by 2025. The rapid growth of automotive, power generation, oil & gas, and aerospace & defense industries in the region are the major reason for the growing adoption of NDT equipment and rising demand for related services in North America.

General Electric (US), Olympus Corporation (Japan), MISTRAS Group (US), Nikon Metrology (Belgium), and Ashtead Technology (Scotland), YXLON International (Germany), Sonatest (UK), Zetec, Inc. (US), T.D. Williamson Inc. (US), Bosello High Technology Srl (Italy), Eddyfi (Canada), and Magnaflux (US), Fischer Technology Inc. (US), Cygnus Instruments Ltd. (UK), NDT Global GmBH (Germany), Acuren (US), and LynX Inspection (Canada) are the key players in the market.

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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. 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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Vibration Sensors Market : Adopted by Top Companies worth $3.0 billion by 2025

According to the new market research report "Vibration Sensors Market with Covid-19 Impact by Type (Accelerometers, Proximity Probes, Displacement Sensors, Velocity Sensors), Monitoring Process (Online and Portable), Equipment, Industry, and Region - Global Forecast to 2025", the vibration sensors market was valued at USD 2.0 billion in 2020 and is projected to reach USD 3.0 billion by 2025; it is expected to grow at a CAGR of 8.2% from 2020 to 2025. A few key factors driving the growth of this market are growing adoption of automated condition monitoring technologies for the development of smart factories, rising use of wireless systems for machine condition monitoring, ongoing transition from preventive to predictive maintenance, and increasing demand for vibration sensors from emerging applications.

• Informational PDF Brochure :-

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=7077931

Browse 111 market data Tables and 45 Figures spread through 168 Pages and in-depth TOC on "Vibration Sensors Market with Covid-19 Impact by Type (Accelerometers, Proximity Probes, Displacement Sensors, Velocity Sensors), Monitoring Process (Online and Portable), Equipment, Industry, and Region - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/vibration-sensors-market-7077931.html

Accelerometers to hold largest share of vibration sensors market during forecast period

Accelerometers are expected to account for the largest share of the vibration sensors market during the forecast period. The growth of this segment can be attributed to the increased use of accelerometers for collecting vibration monitoring data. Piezoelectric accelerometers are the most commonly used sensors in vibration monitoring applications. They are suitable for a wide band of frequencies, ranging from very low to very high frequencies. These accelerometers are also available in a wide variety of application-specific designs.

Energy and power industry to account for the largest share of vibration sensors market during forecast period

The Energy and power industry is expected to account for the largest share of vibration sensors market during forecast period. The power industry is facing challenges owing to the continuously increasing demand for power and the requirement to reduce distribution losses. This has led power generation companies to offer continuous power supply at low costs and monitor their processes for any unwanted changes. Hence, vibration sensors play a crucial role in the power sector.

Vibration sensors market in APAC to grow at highest CAGR during forecast period

Ongoing industrialization, growing adoption of predictive maintenance tools, and increasing competitive pressure on industries such as oil and gas, energy and power, chemicals, and automotive to achieve operational efficiency are fueling the growth of the vibration sensors market in APAC. The expansion of manufacturing activities as a result of the shifting of production bases to APAC countries, such as China, India, and South Korea, with low labor costs, is driving the demand for vibration sensors in the region. However, the outbreak of the COVID-19 has significantly affected the manufacturing sector of APAC. As neighboring countries in the region are linked to one another through trade relations and supply chain, the entire region is affected by this pandemic.

Baker Hughes Company (US), TE Connectivity (Switzerland), SKF (Sweden), Honeywell International Inc. (US), Emerson Electric Co. (US), Robert Bosch (Germany), NXP Semiconductors (Switzerland) Omron Corp. (Japan), Rockwell Automation Inc. (US), National Instruments (US), Robert Bosch (Germany), Dytran Instruments, Inc. (US), KEYENCE Corp. (Japan), Fluke Corp. (US), Wilcoxon Sensing Technologies (US), PCB Piezotronics (US), and SPM instrument (Sweden), are among the major players in the vibration sensors market.

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Wednesday, 9 February 2022

Human Machine Interface Market expected to reach USD $5.6 billion by 2025

The report "Human Machine Interface Market (HMI) by Offering (Hardware (Basic HMI, Advanced PC-Based HMI, Advanced Panel-Based HMI) and Software (On-Premise HMI and Cloud-Based HMI)), Configuration (Stand-Alone HMI and Embedded HMI) - Global Forecast to 2025", was valued at USD 4.3 billion in 2020 and is expected to reach USD 5.6 billion by 2025, at a CAGR of 5.2% over the forecast period. Factors that drive the growth of the market include the surging adoption of industrial automation in the manufacturing sector, the evolution of industrial internet of things (IIoT), growing demand for smart automation solutions, and rising need for efficiency and monitoring in manufacturing plants.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=461

Browse 104 market data Tables and 59 Figures spread through 174 Pages and in-depth TOC on "Human Machine Interface Market (HMI) - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/human-machine-interface-technology-market-461.html

Configuration-wise, embedded HMI segment to dominate HMI market during forecast period

The human machine interface market for embedded HMI is expected to hold the largest share of the market by 2025. Embedded HMIs offer an integrated environment which is much simpler and user-friendly. These HMIs help to significantly enhance efficiency, which has favored their adoption among end users. Hence, the embedded HMI market is expected to witness notable growth throughout the forecast period. Embedded HMIs are combined with powerful hardware and software platforms to use device capabilities to their fullest extent. Furthermore, a connected embedded platform is a part of an intelligent system; it is connected to a network that enables easy communication between two machines and provides easy access to the operator.

Offering-wise, software segment to capture highest CAGR during forecast period

HMI software allows operators to interact, manage, and operate a system while also allowing the acquisition of data for processing. HMI software includes configuration software, data acquisition software, data analysis software, monitoring and controlling software, and programming software. The HMI software segment has been further divided into on-premise HMI solutions and cloud-based HMI solutions. Manufacturing companies are increasingly adopting advanced technologies, such as cloud-based solutions, to gain a competitive advantage by improving the efficiency of manufacturing processes, which is encouraging the adoption of more scalable and flexible HMIs.

Process industry-wise, pharmaceuticals segment is anticipated to register highest CAGR from 2020 to 2025

The pharmaceuticals industry discovers, produces, and markets drugs and medicines across the world. Pharmaceutical companies need better control over operations to keep pace with the innovations taking place in the industry. Maintaining safety, consistency, and efficiency in manufacturing processes is the basic requirement of the pharmaceuticals industry to ensure that products are of the highest quality. Thus, pharmaceutical companies are using HMI solutions to minimize downtime, reduce cost of operations, and gain process visibility.

HMI market in APAC to grow at highest CAGR from 2020 to 2025

The human machine interface market in APAC is expected to grow at the highest CAGR from 2020 to 2025. The adoption of HMI solutions in APAC is high due to the burgeoning growth of the manufacturing sector in the region. Various industries are shifting their manufacturing bases in APAC to capitalize on the availability of skilled, cheap labor in the region, which has transformed it into a major manufacturing hub. The process and discrete manufacturing industries present in the region are progressively adopting automated technologies, which is one of the major factors driving the growth of the HMI market in APAC.

Notable companies present in the APAC human machine interface market include Advantech Co, Ltd (Taiwan), Emerson Electric Co. (US), General Electric (US), Honeywell International, Inc (US), Mitsubishi Electric Corporation (Japan), Schneider (Europe), and Yokogawa (Japan).

Don’t miss out on business opportunities in Human Machine Interface Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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Real-time Location Systems Market (RTLS) estimated to be valued at $12.7 billion by 2026

According to the new market research report "Real-time Location Systems Market (RTLS) with Covid-19 impact analysis by Offering (Hardware, Software, Services), Technology, Vertical (Healthcare, Manufacturing, Retail, Education, Govt, Sports), Application Use Case & Region - Global Forecast to 2026" the RTLS market is estimated to be valued at USD 3.9 billion in 2021 and reach USD 12.7 billion by 2026, at a CAGR of 26.5%. The increasing regulations in various industries to improve safety, workflow, and security and increasing popularity of ultra-wideband technology-based RTLS solutions are the key factors that will accelerate the growth of the RTLS market during the forecast period. Likewise, growing need for contact-tracing solutions due to COVID-19 pandemic and growing trend of hybrid RTLS solution are expected to create lucrative opportunities for the players in the RTLS market. However, high cost of installation and maintenance and stringent government rules and regulation are expected to restraint market growth

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1322

Browse 141 market data Tables and 67 Figures spread through 252 Pages and in-depth TOC on "Real-time Location Systems Market (RTLS) with Covid-19 impact analysis by Offering & Region - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/real-time-location-systems-market-1322.html

Healthcare vertical is expected to dominate in the RTLS market during the forecast period

The healthcare vertical is expected to continue to account for the largest market size during the forecast period. The growth of the healthcare vertical can be attributed to the early adoption of RTLS-based solutions for a wide range of applications in healthcare, especially in the US. The growing usage of IoT devices in the healthcare sector is also expected to contribute to the growth of the RTLS market in the healthcare vertical. Concerns over the safety of patients and security of electronic health records and valuable assets have also encouraged the adoption of RTLS solutions in healthcare.

Supply chain management & operational automation/visibility application expected to witness the highest CAGR in the RTLS display market during the forecast period

The supply chain management & operational automation/visibility application is expected to witness the highest CAGR in the RTLS market during the forecast period. RTLS solutions are gaining popularity for locating inventory in warehouses, as well as throughout the supply chains. RTLS technologies allow better visualization of supply chain dynamics in real-time. As companies move toward Industry 4.0, they demand greater visibility for faster decision-making. Real-time data of supply chain operations allows quicker response times to make any alterations in normal operations.

UWB Technology is expected to grow at the highest CAGR in 2026

The market for UWB-based RTLS solutions is expected to grow at the highest CAGR of 33% during the forecast period. UWB technology-based RTLS solutions provide more accurate data than RTLS solutions based on other technologies. UWB technology can support locating objects down to the range of a few centimeters. This is highly beneficial in high-intensity operations in the healthcare and manufacturing verticals. The rapid decline in the prices of UWB tags has also resulted in the increased implementation of these tags in RTLS solutions. The manufacturing and logistics industries are likely to be the major contributors to the growth of the market for UWB-based RTLS solutions in the coming years.

APAC is attributed to grow at the highest CAGR in RTLS market during the forecast period (2021-2026)

APAC is expected to grow at the highest CAGR in the overall RTLS market. The RTLS for Healthcare market in APAC is growing primarily due to rise in the rising number of smartphone & tablet users, partnerships between RTLS players and hospitals, and the presence of supportive government policies.

Advancements in technology have always had major impact in the field of medicine. Smartphone is one of the most dynamic and ubiquitous trends in communication and real-time location tracking. Moreover, these devices are primarily used in the RTLS solutions for tracking and monitoring patients, staff, as well as medical equipment. Mobile phones can also be used for communicating through different platforms such as email, performing Internet searches, and various other applications. Smartphones are one of the fastest growing sectors in the technology industry, and its impact in medicine has already been observed significantly. Smartphones aren’t just making it easier in terms of day-to-day chores; the technology is also streamlining care for both physicians and patients.

Key Market Players

Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), and Savi Technology (US) are among the key players in the RTLS market.

Don’t miss out on business opportunities in Real-time Location Systems Market (RTLS). Speak to our analyst and gain crucial industry insights that will help your business grow.

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IT Asset Disposition Market is expected to grow $21.2 billion by 2026

According to the new market research report "IT Asset Disposition Market with COVID-19 impact Analysis By Service Type, Asset Type, Organization Size, End User (Banking, Financial Services, and Insurance (BFSI), IT and Telecom, Healthcare), And Region -Global Forecast to 2026" published by MarketsandMarkets, the IT asset Disposition market is expected to grow from USD 14.5 billion in 2020 to USD 21.2 billion by 2026; it is expected to grow at a CAGR of 7.9% from 2021 to 2026. The IT asset disposition market has been witnessing significant growth over the past years, mainly owing to regulatory compliances, awareness of conserving the environment, and the growing need to prevent data breaches. The market is further driven by the vast amounts of e-waste, the need for safe methods of disposing of e-waste, and environmental policies which are followed by industries. The surging adoption of new technologies and BYOD trend is also expected to considerably boost the IT asset disposition market in the coming years. However, the COVID-19 outbreak is likely to result in a decline in the growth rate of the IT asset disposition market, especially in 2020 and 2021. This is because organizations in most of the major demand-generating verticals are currently, or were, non-operational in various countries, thereby negatively impacting the demand for IT asset disposition services. The COVID-19 pandemic has also disrupted the supply chain of the IT asset disposition market, thus hindering the implementation of IT asset disposition solutions.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=28474391

Browse 191 market data Tables and 62 Figures spread through 224 Pages and in-depth TOC on "IT Asset Disposition Market with COVID-19 impact Analysis - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/it-asset-disposition-market-28474391.html

Data Destruction/ Data Sanitization service type to hold the largest share of the IT asset disposition market, by service, in 2020

Data destruction/ data sanitization will lead the IT asset disposition market, by service, in terms of size, in 2020. The security of data and information is crucial for any company. Hence, before the physical destruction of the asset or before it is sent to another phase of asset disposition, all the data or information from the asset has to be destroyed completely to minimize the risk of data breach, financial risks, and threat to brand image. The IT asset disposition service providers use advanced software/solutions for the complete sanitization of any device with data to ensure the complete destruction of data.

The market for IT asset disposition of servers to grow at the highest CAGR during the forecast period

On the basis of asset type, the IT asset disposition market has been broadly classified into computers/laptops, servers, mobile devices, storage devices, and peripherals. Among these, the market for servers is expected to record the highest CAGR between 2021 and 2026. Many companies refresh their data centers with networking or server upgrades every 3 to 4 years. Additionally, the surge in data breaches has forced data center providers to dispose of data and equipment before decommissioning them.

Large enterprises to hold the largest share of the IT asset disposition market, by organization size, in 2020

Large enterprises will lead the IT asset disposition market, by organization size, in terms of size, in 2020. Large enterprises has a strong budget, expertise, and policies to overcome any issues related to safety, policy, and environment in the competitive world. The main concern for large enterprises is to extract the maximum value from the assets and other resources available with the organization to gain a competitive advantage. Additionally, the increasing demand for regulatory compliance and concerns regarding the impact of e-waste on the environment are 2 major factors for the adoption of IT asset disposition services in large enterprises.

The IT asset disposition market for media and entertainment industry to grow at the highest CAGR during the forecast period

On the basis of end-user, the IT asset disposition market has been broadly classified into banking, financial services, and insurance (BFSI), IT and telecom, educational institutions, healthcare, aerospace and defense, public sectors and government offices, manufacturing, media, and entertainment, and others. Among these, the market for media and entertainment is expected to record the highest CAGR between 2021 and 2026. Data destruction services are widely being used for the media and entertainment industry because of the nature of the industry, where online and web penetration would drive the need for high-end servers and storage capacity. With increasing emphasis on building a culture of submissive environmental strategies, these conditions create a high demand for competent e-waste disposal and data sanitation. Moreover, advancements in technology have generated high demand in media and entertainment services.

North America to hold the largest share of IT asset disposition market during the forecast period

North America is expected to hold the largest share of the IT asset disposition market during the forecast period. The US leads the market in North America owing to its well-established economy and vendors in the US which are entering partnerships with regional and local players to develop new tools and techniques to increase data security and provide safe and secure asset disposition to clients. Europe is expected to account for the second-largest share of the IT asset disposition market during the forecast period. The UK and Germany are significant demand-generating countries for IT asset disposition services in this region.

A few key players operating in the IT asset disposition market are Hewlett Packard Enterprise (HPE) (US), Dell Technologies (US), IBM (US), Sims Limited (US), Iron Mountain (US), CompuCom(US), 3stepIT (Finland), TES (Singapore), Apto Solutions (US), and LifeSpan International (US).

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Augmented Reality Market was valued at $88.4 billion by 2026

According to a research report "Augmented Reality Market with COVID-19 Impact Analysis, by Device Type (Head-mounted Display, Head-up Display), Offering (Hardware, Software), Application (Consumer, Commercial, Healthcare), Technology, and Geography - Global Forecast to 2026" published by MarketsandMarkets, the augmented reality market was valued at USD 14.7 billion in 2020 and is projected to reach USD 88.4 billion by 2026; it is expected to grow at a CAGR of 31.5% from 2021 to 2026. The key factors driving the growth of the augmented reality market include surging demand for AR devices and applications in healthcare, growing demand for AR in retail and e-commerce sectors due to COVID-19, rising investments in the AR market, increasing demand for AR devices and technology in the global automotive industry, and others.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82758548

Browse 169 market data Tables and 61 Figures spread through 216 Pages and in-depth TOC on "Augmented Reality Market - Global Forecast to 2026"
View detailed Table of Content here -https://www.marketsandmarkets.com/Market-Reports/augmented-reality-market-82758548.html

Hardware segment to account for the largest share of augmented reality market during the forecast period

On the basis of offering, the augmented reality market has been segmented into hardware and software. The hardware segment of the augmented reality market is projected to witness a higher growth rate than the software segment owing to the increasing adoption of augmented reality hardware globally.

Consumer application to account for the largest share of augmented reality market during the forecast period

On the basis of application, the augmented reality market has been segmented into consumer, commercial, aerospace & defense, healthcare, enterprises (manufacturing), automotive, energy, and others. The consumer application segment is projected to account for the largest size of the augmented reality market from 2021 to 2026. The consumer segment of the market comprises gaming and entertainment applications wherein AR technology is used to create 3D visual objects in the real world. The flourishing gaming and sports and entertainment sectors fuel the use of AR technology in consumer applications. The demand for HMD is high in consumer applications. They are used in smart glasses in sports (such as ski driving and fighting games).

APAC to account for the largest share of augmented reality market during the forecast period

The flourishing enterprises (manufacturing) sector in China and Japan is projected to fuel the growth of the augmented reality market in APAC. The gaming industry in this region has also witnessed significant growth, thereby contributing to the increased demand for augmented reality technology in APAC. Additionally, rising investments in commercial applications of augmented reality are also expected to contribute to the growth of the market in APAC. Moreover, the thriving healthcare and automotive sectors in Japan are also projected to drive the demand for AR technology in the region.

The novel coronavirus has affected the global economy to a large extent. The economies in APAC, including Japan, China, South Korea, India, and Australia, have a significant contribution toward the global economy as they are home to various manufacturing and assembly plants in the world. China, which is known as the manufacturing hub of the world, faced a serious economic crisis owing to the spread of the virus and brought all economic activities to a standstill for weeks. The other countries, such as India, Australia, South Korea, and Japan, have also witnessed a downfall in the economic activities across various sectors.

Some of the key companies operating in the market are Google, Inc. (US), PTC Inc. (US), Seiko Epson (Japan), Microsoft (US), Lenovo (Hong Kong), Samsung Electronics (South Korea), Apple (US), and so on.

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Tuesday, 8 February 2022

Speech and Voice Recognition Market is expected to grow $22.0 billion by 2026

According to the new market research report "Speech and Voice Recognition Market with COVID-19 Impact Analysis by Delivery Method, Deployment Mode (On Cloud, On-Premises/Embedded), Technology (Speech Recognition, Voice Recognition), Vertical and Geography - Global Forecast to 2026", The speech and voice recognition market is expected to grow from USD 8.3 billion in 2021 to USD 22.0 billion by 2026; it is expected to grow at a CAGR of 21.6% during the forecast period. The major driving factors for the growth of the speech and voice recognition market include increase in use of smart appliance and use of artificial intelligence technology to boost accuracy of speech and voice recognition system. The COVID-19 outbreak resulted in a decline in the growth rate of the speech and voice recognition market, especially in 2020 and 2021. The COVID-19 pandemic affected the speech and voice recognition market both positively and negatively. The demand for smart appliances and devices has increased with most of the population working from home. This has also created an opportunity for the speech and voice recognition market as this technology is being used in various smart devices. However, many people are also focusing on basic amenities during the pandemic, putting off other purchases for the time being. The COVID-19 pandemic has also resulted in halted production, thus affecting the manufacturing capabilities of all regions; the supply of products from manufacturers to end users has declined drastically as a result.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=202401714

Browse 168 market data Tables and 72 Figures spread through 229 Pages and in-depth TOC on "Speech and Voice Recognition Market with COVID-19 Impact Analysis by Vertical and Geography - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/speech-voice-recognition-market-202401714.html

Speech Recognition technology shows significant increase in speech and voice recognition market during the forecast period.

Growing demand for speech-enabled consumer electronics devices including smart home devices, mobile devices, and wearable devices is expected to result in rapid growth of the speech recognition market during the forecast period. The automatic speech recognition (ASR) segment is expected to record the highest CAGR in the forecast period. The growing accuracy of ASR technology offered by Chinese vendors, such as Baidu (China) and iFLYTEK (China) is expected to benefit the entire value chain for the automatic speech recognition market in Asia Pacific during the forecast period. The growing need for local language-based speech recognition software in South Asian countries is expected to provide ample growth opportunities for the ASR market in APAC during the forecast period.

On-premises/embedded deployment mode to grow significantly during the forecast period

The demand for on-premises/embedded infrastructure is expected to increase in the forecast period. Americas will lead the market for the on-premises/embedded segment as a result of more companies demanding on-premises/embedded deployment. The increasing demand for on-premises/embedded infrastructure is also leading to an increase in the number of providers in the Americas, thereby improving the overall market growth.

Consumer vertical to have the largest market share during the forecast period

In 2020, the consumer vertical accounted for the largest size of the speech and voice recognition market and is expected to hold a dominant position throughout the forecast period. The introduction of voice based smart devices in the consumer sector has led to the launch of many innovative products in the market. The continuous decline in the cost of voice and speech devices, software developments, and relevant content developments are also driving the market for speech and voice recognition. The increasing demand for intelligent virtual assistant smart speakers with voice capabilities is expected to be a prominent driver for the speech and voice recognition market for the consumer vertical during the forecast period.

APAC to grow with highest CAGR for speech and voice recognition market during the forecast period

The market in APAC is expected to grow during the forecast period. The growing focus on artificial intelligence (AI) in industries and enterprises is also expected to contribute toward the growth of the voice recognition market in Asia Pacific during the forecast period. Increasing digitalization and government policies favoring digitalization and technological innovations are also expected to drive the growth of market in APAC region.

Key Market Players

Apple (US), Microsoft (US), IBM (US), Alphabet (US), Amazon (US), Sensory (US), CANTAB Research (UK), Baidu (China), iFLYTEK (China) and SESTEK (Turkey) are among the key players operating in the speech and voice recognition market.

Don’t miss out on business opportunities in Speech and Voice Recognition Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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