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Sound Recognition Market 2020: Consumption, Trends, Growth, Types,Industrial Applications, Leading Companies & Forecast till 2026

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Sound Recognition market.

Trusted Business Insights presents an updated and Latest Study on Sound Recognition Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Sound Recognition market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Industry Insights, Market Size, CAGR, High-Level Analysis: Sound Recognition Market

The global sound recognition market size was valued at USD 66.5 million in 2018 and is anticipated to expand at a CAGR of 75.8% from 2019 to 2025. Sound recognition is an integration of audio signal analysis and pattern recognition technology. The process involves various classification algorithms for categorizing the sound type. It also has feature extraction and preliminary data processing that creates the feature vectors. The adoption of this emerging technology is anticipated to witness exponential rise in the forthcoming years, which in turn is fueling the market growth.
The significant technological advancements in recent years have increased the use of smart technologies such as Artificial Intelligence (AI) across various applications including smart home devices. AI enables devices to make decisions in a smart home with the help of voice commands and contextual information. Apart from voice and speech recognition, the sense of hearing has become essential in artificial intelligence. These factors are anticipated to drive the adoption of sound recognition in smart home devices.

The sound enables AI to understand the context and differentiate among varied events occurring in the environment. The AI-enabled devices decide their action based on the sound they capture. Such smart home devices understand the activity, entertainment, security, and attention in the surrounding area by identifying scenes and events. The rapidly growing adoption of connected devices such as smart speakers, smartphones, security cameras, and others has enabled users with devices that capture sound from various locations irrespective of human presence in the surrounding.
Sound recognition runs on the edge and works with limited computational power on the host device. It is being used across various use cases. In case of an intrusion, the event management system of the sound sensing technology turns the light on and plays loud music to deter the breach along with sending an alert to the house owners. The breaking of a smoke alarm in case of overheating or fire activates the event management system and send an alert to the owners mobile device. It also sends a clip of the sound to assist the owner take necessary actions. Such advantages are anticipated to drive the adoption of the technology in smart home devices, which in turn is projected to drive the market.
Device Insights
Based on the device, the sound recognition market is categorized into smartphones, tablets, smart home devices, smart speakers, connected cars, hearables, and smart wristbands. The number of connected devices integrated with advanced technologies such as artificial intelligence has increased. This has driven the adoption of portable devices such as smartphones. The smartphone device segment holds majority market share since these devices offer features, such as smart microphones, smart playback, and contextual awareness.
The launch and rapid adoption of smart speakers integrated with smart assistants such as Siri, Cortona, and others is expected to drive the market growth in the forthcoming years. This segment is expected to register the fastest growth over the forecast period. Vendors in the market focus on launching various hearable devices with computing capability to help recognize various sounds. The smart home devices segment is also expected to proliferate significantly in near future.

Application Insights of Sound Recognition Market

Based on the application, the market is categorized into automotive, healthcare and fitness, smart home, safety and security, and others. The smart home segment is expected to rise exponentially over the forecast period. This is due to the increasing preference of customers in converting their connected home into an intelligent home. Sound event detection has enabled smart home devices, such as smart speakers to react to various sound events and take necessary actions by informing users through personal assistants integrated into smart speakers.

The healthcare and fitness segment are expected to register the fastest CAGR over the forecast period. This is due to an increasing number of product developments by the market players. For instance, In April 2019, Audio Analytic Ltd., a sound recognition technology provider, announced a newly granted patent for developing an artificial intelligence-powered sense of hearing feature in hearing devices such as earbuds, earphones, and headphones. Through this patent, hearable devices will be able to recognize sounds and adapt to acoustic environments thereby providing an enhanced audio experience.

Regional Insights of Sound Recognition Market

North America held the largest market share in 2018 and is anticipated to continue leading in the forthcoming years. Vendors in the region are focusing on developing breakthrough technologies to enable deaf people to feel and see the sound. Wavio, a provider of sound recognition technology, manufactured a smart home sound recognition system for people who face problems in hearing. The system can predict a wide range of unique household sounds and can seamlessly connect with other assistive devices. Such advancements are projected to fuel the regional market growth in near future.
Europe is expected to hold the second-highest market share from 2019 to 2025. This is due to the presence of prominent players including Audio Analytic Ltd., a sound recognition technology provider. Asia Pacific market for sound recognition is anticipated to register the fastest CAGR in the forthcoming years, due to the rising adoption of emerging technologies in developing countries including China, Japan, and others.

Market Share Insights of Sound Recognition Market

The key market participants include Wavio, OtoSense, abilisense, Reality AI, and Audio Analytic Ltd. The companies are focusing on entering into partnerships and collaborations to deliver enhanced sound event detection capabilities. For instance, In July 2019, Wavio, a provider of sound recognition technology, announced that it has entered into a collaboration with ID R&D Inc.; a provider of biometric solutions. The former company will be leveraging the latters capabilities, including AI-based behavioral, voice, and anti-spoofing user authentication. This collaborating is anticipated to help Wavio to provide its customers with a high-performance sound event detection and recognition technology.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Sound Recognition Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global sound recognition market report based on device, application, and region:

Device Outlook (Revenue, USD Million, 2019 – 2030)

Smartphones

Tablets

Smart Home Devices

Smart Speakers

Connected Cars

Hearables

Smart Wristbands

Application Outlook (Revenue, USD Million, 2019 – 2030)

Automotive

Healthcare and Fitness

Smart Home

Safety and Security

Others

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Sound Recognition Market Insights 2027 – Worldwide Industry Leading Players are Wavio, Reality AI, Audio Analytic Ltd., abilisense, OtoSense Inc., Nuance Communications, Inc., Google, Microsoft Corporation, Amazon Web Services, Inc., IBM Corporation

Sound Recognition market report comprises of data that can be quite essential when it comes to dominate the market or making a mark in the market as a new emergent. The statistics are represented in graphical format in this Sound Recognition market report for a clear understanding on facts and figures. The report provides you the insights which help you have a more precise understanding of the market landscape, issues that may impinge on the ICT industry in the future, and how to position specific brands in the best way. Analysis and discussion of important industry trends, market size, and market share estimates are mentioned in the report.

The Sound Recognition market report is a window to the industry which explains what market definition, classifications, applications, engagements and market trends are. This global market report also identifies and analyses emerging trends along with major drivers, challenges and opportunities in industry with analysis on vendors, geographical regions, types, and applications. Various definitions and classifications of the ICT industry, applications of the ICT industry and chain structure are given in this Sound Recognition report. With the use of excellent resources and latest tools, this best in class Sound Recognition market research report has been created to aid your business growth.

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The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Sound Recognition Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.

Sound recognition is based on traditional pattern recognition theories as well as audio signal analysis methods. Sound recognition technology is used for various applications such as music recognition and speech recognition. With the advancements in technology, vendors are focusing on offering sound recognition system integrated with intelligent technologies to provide greater flexibility to the customers.

Increasing demand speech-based biometric systems, advancements in technologies, and the growing number of voice-control based assistive devices are the major factors that are expected to drive the growth of the sound recognition market. However, the high costs of these systems and lack of accuracy are expected to hinder the growth of the sound recognition market. The growing number of financial institution adopting voice-based authentication solutions is creating opportunities for the companies operating in the market to gain a strong market position.

Competitive Landscape:

1. Wavio
2. Reality AI
3. Audio Analytic Ltd.
4. abilisense
5. OtoSense Inc.
6. Nuance Communications, Inc.
7. Google
8. Microsoft Corporation
9. Amazon Web Services, Inc.
10. IBM Corporation

The “Global Sound Recognition Market Analysis to 2027” is a specialized and in-depth study of the sound recognition industry with a special focus on the global market trend analysis. The report aims to provide an overview of sound recognition market with detailed market segmentation by device, application and geography. The global sound recognition market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading sound recognition market players and offers key trends and opportunities in the sound recognition market.

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Chapter Details of Sound Recognition Market:

Part 01: Executive Summary

Part 02: Scope of The Report

Part 03: Sound Recognition Market Landscape

Part 04: Sound Recognition Market Sizing

Part 05: Sound Recognition Market Segmentation by Product

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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