Wednesday 29 July 2020

Metal-air Battery Market expected to reach $842 million by 2025

According to the research report "Metal-air Battery Market with COVID-19 Update by Metal (Zinc, Aluminum, Lithium, Iron), Voltage (Low, Medium, High), Application (Electric Vehicles, Military Electronics, Electronic Devices, Stationary Power), Type, and Region - Global Forecast to 2025", the global metal-air battery market size is estimated to grow from USD 438 million in 2020 to USD 842 million by 2025; it is expected to grow at a CAGR of 14.0%. Growing demand for high-capacity, safe, cost-effective, and eco-friendly energy storage solutions is one of the factors fueling the growth of this market.

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NantEnergy Inc. (US), Phinergy (Israel), Log 9 Materials (India), Arotech Corporation (US), PolyPlus Battery Company (US), Fuji Pigment Co., Ltd. (Japan), GP Batteries International Limited. (Hong Kong), Zinc8 Energy Solutions Inc. (Canada), and Energizer Holdings, Inc. (US) are a few of the key players in the metal-air battery market.

Browse 102 market data Tables and 32 Figures spread through 150 Pages and in-depth TOC on "Metal-air Battery Market with COVID-19 Update - Global Forecast to 2025"

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/metal-air-battery-market-90446479.html

“Zinc-air batteries accounted for largest share of metal-air battery market in 2019.”

Zinc-air batteries accounted for the largest share of the metal-air battery market in 2019. The lightweight of zinc-air batteries and the ease of use in devices such as hearing aids and watches are likely to drive their demand. High energy storage density and the flat drain curve of these batteries make them an ideal power supply solution for such electronic devices. Zinc-air batteries are also used in navigation aid systems and remote railway signaling.

“Market for high-voltage (above 36 V) metal-air batteries is expected to grow at highest CAGR during forecast period”

The market for high-voltage metal-air batteries is expected to grow at the highest CAGR from 2020 to 2025. The growth is anticipated due to several advantages offered by high-voltage metal-air batteries that include longer operational life, higher power, and more safety than lead-acid batteries. High-voltage metal-air batteries feature built-in stationary power storage and grid storage applications that keep the batteries running at peak performance while preventing overheating and maximizing cell cycle life.

“Electronic devices accounted for largest share of metal-air battery market in 2019”

The electronic devices application held the largest share of the metal-air battery market in 2019. The miniaturization of electronic devices and the growing demand for high-energy-density, clean, and low-cost batteries are a few of the factors driving the demand for metal-air batteries for electronic devices. Presently, lithium-ion batteries are used in most of the electronic devices as a portable power source. However, in the next 10 years, metal-air batteries are more likely to be preferred because of their features, such as high-energy-density, low-cost, safe, and non-flammable operation. Metal-air batteries are also eco-friendly, which makes them widely acceptable to electronic device manufacturers.

“Market in Europe is expected to grow at highest CAGR during forecast period”

The metal-air battery market in Europe is expected to grow at the highest CAGR during the forecast period. The presence of a tech-savvy population with high disposable income and a huge demand for electric vehicles and consumer electronics are leading to advancements in metal-air batteries, which are expected to fuel the market growth in Europe. Several initiatives taken by the governments and authorities in the region to develop metal-air batteries include ZAESS project, Development of electrically rechargeable zinc-air batteries (European Commission), ZAS project, and Powair project. All these initiatives have collectively helped in creating significant growth in the regional metal-air battery industry.

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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Monday 27 July 2020

European Smart Home Market expected to reach $39.6 billion by 2025

According to the new research report, the "European Smart Home Market with COVID-19 Impact Analysis by Product (Lighting Control, Security & Access Control, HVAC Control, Home Healthcare), Software & Services (Proactive, Behavioural), and Region - Global Forecast to 2025", size is expected to grow from USD 23.2 billion in 2020 to USD 39.6 billion by 2025, at a CAGR of 11.3%. The growth of the market is driven by many factors, such as an increasing number of internet users, increasing disposable income of people in developing economies, the rising importance of home monitoring in remote locations, and the growing need for energy-saving & low carbon emission-oriented solutions. Moreover, the rapid proliferation of smartphones & smart gadgets, expansion of smart home product portfolio by a large number of players, growing concern about safety, security, and convenience among the general population will fuel the demand for smart home solutions.

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The smart home market is currently dominated by Johnson Controls International (Ireland), United Technologies Corporation (US), Schneider Electric (France), Honeywell International, Inc. (US), and Siemens AG (Germany).

Other players operating in the smart home market are Amazon, Inc. (US), Apple Inc. (US), Google (US), ADT (US), Robert Bosch Gmbh (Germany), ASSA ABLOY (Sweden), ABB Ltd. (Switzerland), Ingersoll-Rand PLC (Ireland), ABB (Switzerland), Legrand S.A. (France), GE (US), Comcast Corp. (US), Hubbell Inc. (US), Samsung Electronics Co., Ltd. (South Korea), LG Electronics (South Korea), Sony (Japan), Control4 Corp. (US), Lutron Electronics Co. Inc. (US), Vivint (US), and Axis Communication AB (Sweden), among others. Almost all companies, including key players, have adopted a few major strategies such as product developments and launches, mergers and acquisitions, and partnerships and collaborations to grow in the smart home market.

Browse 150 market data Tables and 57 Figures spread through 245 Pages and in-depth TOC on "European Smart Home Market with COVID-19 Impact Analysis - Global Forecast to 2025"

The smart speakers market is likely to grow at a high rate during the forecast period.”

The growth of the smart speaker market is driven primarily by the increasing adoption of smart homes, high disposable income, the popular trend of personalization, and the rapid proliferation of multifunctional devices. Factors such as increasing focus of companies on enhancing customer experience and consumer preference for technologically advanced products over traditional products are expected to provide opportunities to smart speaker providers. Further, recent developments in artificial intelligence (AI) and natural language processing (NLP) to enhance voice recognition capabilities have increased the overall demand for smart speakers in smart homes.

“The proactive type software and services segment to grow at a higher rate during the forecast period.”

Proactive type software and services facilitate the transmission of data, along with the best possible solutions, to end-users for actions to be taken after receiving the information. The proactive type enables the transfer of a larger volume of data than the behavioral type; it can provide inputs to end-users regarding effective energy usage and required actions on the physical parameters to reduce energy consumption.
Proactive solutions are more beneficial than the behavioral type as they can also send recommendation signals to end-users to take necessary actions to reduce energy consumption. Moreover, based on the user’s actions, measures to control electronic devices can be implemented. Due to these advantages, the market for proactive type software and services is expected to grow at a higher rate during the forecast period.

“The European smart home market is expected to grow at a significant rate during the forecast period.”

The drive for “green city” projects brings more energy efficiency in most EU countries. This has created a market opportunity for the manufacturers of energy-efficient smart lighting solutions. Europe would probably be the leading adopter of LED solutions. An increase in construction activities, followed by a growth in new installations of lighting fixtures and dimmers, drives the smart lighting market in this region. Moreover, some consumers and professional lighting companies are switching to LEDs. All these factors have substantially contributed to boosting the demand for smart homes in Europe.

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.

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Depth Sensing Market expected to reach 7.72 Billion USD by 2023

According to the new market research report on the "Depth Sensing Market by Component, Type, Technology (Stereo Vision, Structured Light, Time-of-Flight), Vertical (Automotive, Building Automation, Consumer Electronics, Industrial and Medical) and Geography - Global Forecast to 2023", this market is expected to grow from USD 4.40 Billion in 2018 to USD 7.72 Billion by 2023, at a CAGR of 11.89%   between 2018 and 2023. The major factors driving the growth of the depth sensing market include the growing smartphone market, increasing adoption of dual-camera smartphones, rising use of depth sensing technology in AR-VR gaming applications, and increasing requirement of security and surveillance systems.
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The report also profiles the most promising players in this market. The competitive landscape of the market presents an interesting picture where a large number of players have become a force to reckon with. Texas Instruments (US), Infineon Technologies (Germany), Qualcomm (US), Occipital (US), Stereolabs (US), Creative (Singapore), pmdtechnologies (Germany), Sony Depthsensing Solutions (Belgium), BECOM BLUETECHNIX (Austria), Intel (US), Melexis (Belgium), Tower semiconductor (Israel), Vrmagic (Germany), Aquifi (US), Nerian Vision Technologies (Germany), Espros (Switzerland), Sunny Optical Technology (China), PrimeSense (Israel), ASUSTeK Computer (Taiwan), and LIPS Corporation (Taiwan) are the key players in this market.

Browse 65 market data Tables and 35 Figures spread through 118 Pages and in-depth TOC on "Depth Sensing Market - Global Forecast to 2023"
Depth Sensing Market

Camera/lens module to hold largest market size by 2023

Camera/lens module is likely to propel the depth sensing market growth owing to the increasing demand for better quality images and applications such as face recognition, gesture control, and gaming.

Market for time-of-flight technology to grow at highest CAGR during 2018–2023

The depth sensing market for time-of-flight technology is likely to grow at the highest CAGR during the forecast period. The growth of the depth sensing market for time-of-flight technology can be attributed to the low power consumption, accurate depth data, and relatively simple software and hardware requirements.

Consumer electronics vertical to hold larger share of depth sensing market by 2023

Consumer electronics vertical is expected to contribute significantly to the depth sensing market. Owing to the increasing demand for applications such as face recognition, gesture control, AR-VR, and scanning. Depth sensing applications such as AR-VR gaming, infrastructure 3D model, and navigation mainly require 3D scanning or environmental scanning. To meet the demands of these applications, the market for scanning applications is expected to increase during the forecast period. For example, Creative (US) offers BlasterX Senz3D; this module is used for 3D scanning applications

Depth sensing market in APAC to grow at highest CAGR during 2018–2023

The market in APAC is expected to grow at the highest CAGR during the forecast period.  APAC is the largest- and fastest-growing market because more than 95% of the demand for depth sensing is from consumer electronics applications, which includes smartphones and tablets, laptops, and gaming headsets.

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 5000 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.

Contact:
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MarketsandMarkets™ INC.
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Sunday 26 July 2020

Safety Switch Market expected to reach 1.55 Billion USD by 2023 | CAGR of 4.5%

According to the new market research report "Safety Switch Market by Product (Contact Switch and Non-Contact Switch), Safety System (ESD, HIPPS, BMS, Fire & Gas Monitoring Systems, and Turbomachinery Control Systems), Vertical (Oil & Gas, Chemical), and Region - Global Forecast to 2023", the safety switch market is expected to grow from USD 1.24 Billion in 2018 to USD 1.55 Billion by 2023, at a CAGR of 4.5% between 2018 and 2023. The factors driving the growth of this market are the growing adoption of automation in hazardous industrial areas, increasing government intervention for equipment and personnel safety in industries, and rising demand for non-contact door switches to improve the stability of doors and guards.

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The major players operating in the safety switch market are General Electric (US), Schneider Electric (France), Rockwell (US), Siemens (Germany), ABB (Switzerland), Eaton (Republic of Ireland), Honeywell (US), Omron (Japan), Pilz (Germany), and SICK (Germany).  
         
Browse 63 market data Tables and 54 Figures spread through 140 Pages and in-depth TOC on "Safety Switch Market - Global Forecast to 2023"

Safety Switch Market

“Safety switch market for non-contact switch is expected to grow at the highest CAGR during the forecast period”

The safety switch market for non-contact safety switch is expected to grow at the highest CAGR between 2018 and 2023. Awareness regarding the benefits of non-contact safety switches, such as aligned measurement of guards and multiple door switching error identification, is one of the most significant factors projected to drive the growth of the non-contact safety switch market.

“Safety switch market for fire & gas monitoring systems expected to grow at the highest CAGR during the forecast period”

The safety switch market for fire & gas monitoring systems is expected to grow at the highest CAGR between 2018 and 2023. The safety switch market for fire & gas monitoring systems can be attributed to the increasing deployment of fire & gas monitoring solution at hazardous locations to avoid fire casualties and prevent gas leakages or explosions. With the expansion of process industries, such as oil & gas, pharmaceutical, chemical, food & beverage, and energy & power, the need for safety and security of equipment and personnel is growing.

“Safety switch market for food & beverage vertical expected to grow at the highest CAGR during the forecast period”

The safety switch market for food & beverage vertical is expected to grow at the highest CAGR between 2018 and 2023. Changes in consumer preferences have propelled manufacturers to focus on the production of food products with improved taste and quality. Companies in the food & beverage vertical are using advanced automation solutions to increase their production. The increase in automation, as well as plant expansion, is driving the need to deploy safety solutions in food processing units. Thus, the increasing use of safety systems in the food & beverage vertical is projected to drive the growth of the safety switch market.

“Europe expected to lead the safety switch market between 2018 and 2023”

Europe is expected to hold the largest share of the safety switch market during the forecast period. The demand for safety switches in the European region is increasing due to the implementation of safety systems in process industries. Companies operating in this region are focused toward occupational safety and automation. In addition, the stringent safety regulations in the region have propelled the installation of safety systems in hazardous environments.

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.

Contact:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Friday 24 July 2020

Mine Ventilation Market expected to reach $401 million by 2024

According to the new market research report “Mine Ventilation Market by Offering (Equipment (Ventilation, Heating, Cooling), Software, and Services), Technique (Underground Mining, Surface Mining), and Region (North America, Europe, APAC, RoW) - Global Forecast to 2024” the global mine ventilation market size is estimated to reach USD 401 million by 2024 from USD 326 million in 2019 at a CAGR of 4.3% during the forecast period.

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Browse 103 market data Tables and 36 Figures spread through 127 Pages and in-depth TOC on "Mine Ventilation Market - Global Forecast to 2024"

Ventilation is one of the most important functions in mining operations. Ventilation directly affects the health and safety of employees working underground. A well designed and properly implemented ventilation system is installed in mines to enhance employee safety, comfort, and health. To ensure adequate ventilation in mines, provision is made for the air to flow to the workplaces in mines. In deeper mines, ventilation is required for cooling the workplace for miners as growing shaft depths and increasing concentration of digging results in high temperatures. The growth of the market is propelled by the requirement for optimized and quality airflow in mines and a rise in number of infrastructure development projects.

“Mine ventilation market for services to grow at highest CAGR during forecast period”

The services market is expected to grow at the highest CAGR during the forecast period. Services such as installation, testing, and maintenance are required after the purchase of mine ventilation equipment and software for efficient functioning. The continuous innovation and product development lead to the requirement of training and up-gradation of the system.

“Underground mining to hold largest share of overall mine ventilation market from 2019 to 2024”

Underground mining is expected to lead the overall mine ventilation industry during the forecast period. The growth of the market is attributed to rising mining activities across the globe. Mine ventilation system provides a flow of air to the underground workings of a mine in sufficient volume to dilute and remove dust and noxious gases, and regulate temperature.

“APAC to be fastest-growing market for mine ventilation during the forecast period”

The mine ventilation market in APAC is expected to grow at the highest CAGR during 2019–2024. The growing mining activities in emerging economies, such as China, Australia, and India, have contributed to the growth of the mine ventilation industry in APAC. Moreover, the region is one of the most attractive investment destinations for mining companies in the recent past. Further, the demand for mine ventilation is expected to increase with growing infrastructure development projects in the region.

Major players involved in the Mine Ventilation market include ABB (Switzerland), Epiroc (Sweden), Howden (UK), Stantec (Canada), Twin City Fan (US), ABC Industries (US), Chicago Blowers (US), DMT (Germany), TLT Turbo (Germany), and New York Blower Company (US).

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.

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Triple Offset Butterfly Valve Market worth $3.6 billion by 2025

The report "Triple Offset Butterfly Valve Market by Material (Stainless Steel, Cast Iron, Cryogenic, Alloy Based), Valve Size, Industry (Oil & Gas, Water & Wastewater Treatment, Energy & Power, Chemicals), and Region - Global Forecast to 2025", is expected to grow from USD 2.8 billion in 2019 to USD 3.6 billion by 2025, at a CAGR of 4.1%. Rising need for tight shutoff, light in wieght, high pressure handling capacity with lower installation cost in critical processes, growing demand for energy & power generation in Asia Pacific, increasing adoption of valves in oil & gas industry, and growing urbanization are the major driving factors for the market’s growth during the forecast period.

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Browse 102 market data Tables and 53 Figures spread through 163 Pages and in-depth TOC on "Triple Offset Butterfly Valve Market - Global Forecast to 2025"

Oil & Gas to account for the largest size of the triple offset butterfly valve market from 2019 to 2025

Oil & gas is expected to be the key end-user industry for the triple offset butterfly valve market. In oil & gas process plants, there are three major process operations—upstream, midstream, and downstream, and triple offset butterfly valves find applications in all three operations.
Triple offset butterfly valves provide process control support, right from the extraction of crude oil till it reaches to the end customers through oil refineries, oil terminals, and depots. They have become key components in the offshore and onshore oil and gas production owing to the high pressure and adverse corrosive conditions experienced within production plants and refineries.

Stainless Steel to hold the largest market share during the forecast period

Steel offers efficient mechanical properties and good resistance to stress corrosion and sulfides. Carbon steel offers high- and low-temperature strength. Carbon steel valves can be used in many locations where extreme pressure and extreme temperature make other materials unusable. Carbon steel is used in the manufacturing of various types of triple offset butterfly valves. Also, the rising demand for high-quality triple offset butterfly valves in food & beverages and chemicals industries to mitigate the threat of contamination will drive the market for stainless steel triple offset butterfly valves during the forecast period.

Asia Pacific to hold the largest share of the triple offset butterfly valve market from 2019 to 2025

APAC held the largest share of the overall triple offset butterfly valve market in 2018. The triple offset butterfly valve market in APAC for the water & wastewater treatment industry is growing at a significant rate, and a similar trend is likely to be observed in the coming years. Dense population and increasing per capita income in this region, along with large-scale industrialization and rapid urbanization, are the major factors driving the growth of the market in this region. Asia consists of a few fast-growing economies, such as China, India, and other Southeast Asian countries. Owing to the increasing urban population in the region, there is a high demand for new and improved wastewater treatment systems. Therefore, there is a growing focus on using water as a resource in manufacturing and agricultural applications. Thus, the increasing need for proper utilization of water and growing demand for water and wastewater treatment techniques for water reuse create the demand for triple offset butterfly valves in APAC countries.

Emerson Electric Co. (US), Flowserve Corporation (US), Cameron (A Schlumberger Company) (US), IMI PLC (UK), and Metso (Finland) are a few of the key players operating in the triple offset butterfly valve market.

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.

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Wednesday 22 July 2020

Speech and Voice Recognition Market worth $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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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).

Browse 74 market data Tables and 47 Figures spread through 163 Pages and in-depth TOC on "Speech and Voice Recognition Market - Global Forecast to 2024"

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).

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.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441