Sound Recognition Market Analysis Report By Application, By Device And Segment Forecasts From 2019 To 2025

Industry Insights

The global sound recognition market size was valued at USD 66.5 million in 2018 and is expected to grow with a CAGR of 75.8% during the forecast period, from 2019 to 2025. Sound recognition is a combination of pattern recognition and audio signal analysis technology. The process includes several classification algorithms for classifying the sound type. It also has preliminary data processing and feature extraction that produces the feature vectors. Due to the adoption of this technology, the market is projected to have exponential growth over the forecast period.

In recent years, substantial technological advancements have augmented the integration of new technologies like Artificial Intelligence (AI) across several applications comprising smart home devices. This technology allows devices to make decisions in smart homes by using contextual information and voice commands. Apart from speech and voice recognition, a sense of hearing is an important process in AI technology. These above-mentioned factors are expected to propel the demand for sound recognition technology in smart homes.

The sound allows AI to recognize a context and discriminate among various events present in the environment. Based on the sound captured by AI-enabled systems decide their actions or activities. These smart home devices allow security, entertainment, attention, and activity in the surrounding area by recognizing scenes and events. Rapidly increasing penetration of connected devices including security cameras, smartphones, smart speakers, and others has allowed the users along with devices to capture sound from different locations irrespective of their existence in the surrounding.

Sound recognition technology works with limited computational power on the main device. In case of interference, the event management system enabled with sound recognition solution turns the light on and plays music with high volume in order to deter the breach, at the same time it sends an alert to the house owner. In addition, in case of fire activates and overheating, it sends an audio clip to take the necessary action by the owner. Such advantages associated with this technology are expected to increase the adoption of smart home devices, thereby expected to propel market growth.

Devices Insights

Based on devices, the market is bifurcated into smartphones, smart home devices, tablets, wearables, connected cars, smart speakers, and smart wristbands. In recent years, connected devices are integrated with innovative technology such as artificial intelligence. The adoption of this technology enables the rise in penetration of portable devices like tablets and smartphones. The smartphone segment is expected to dominate the market, as this connected device offers smart playback, smart microphones, and contextual awareness.

The rising adoption of smart speakers coupled with smart assistants like Cortona, Siri, and others is projected to boost the growth of the market during the forecast period. Hence, the segment is estimated to register the highest growth from 2019 to 2025. Market players are focusing on developing unique featured hearable devices along with computing capability in order to detect numerous sounds. Furthermore, the smart home devices category is also projected to have significant growth in the near future.

Application Insights

On the basis of applications, the market is segmented into smart home, healthcare & fitness, automotive, and others. The smart home application segment is anticipated to grow exponentially in the next few years. This growth is attributed to the rising customer preference to convert their connected home into a smart home. Sound recognition devices have allowed smart home devices including smart speakers to respond to different sound events and take some essential actions by indicating through individual assistants into smart speakers.

On the other hand, the healthcare & fitness segment is projected to grow with the fastest growth rate from 2019 to 2025. This is owing to the increasing focus of market players on product developments. For example, Audio Analytic Ltd. announced a newly granted patent for introducing an AI-powered sense of hearing feature in several hearing devices including earbuds, earphones, and headphones. With this patent, hearable devices allow to detection of sounds and adapt to acoustic environments to provide an advanced audio experience.

Regional Insights

In 2018, North America dominated the market in terms of revenue market share and projected to retain its position over the forecast period. In this region, market players are concentrating on developing advanced technologies to get better experiences for the customers. Wave, a sound technology developer, manufactured a sound recognition system for individuals who are facing problems in hearing. This system can detect different types of sounds in the surroundings and can connect with different assistive devices. Such technological advancement is projected to drive regional market growth.

Europe is expected to gain the second-largest market share during the forecast period due to the presence of a large number of market players. The Asia Pacific sound recognition market is expected to exhibit with fastest CAGR over the forecast period. This growth is attributed to the increasing adoption of emerging technologies in several countries such as China, India, Japan, and others.

Impact of COVID-19

The COVID-19 has enforced the healthcare industry to adopt new technologies to treat patients efficiently who are infected with the coronavirus. In this tough situation, sound recognition plays an important role to improve operational efficiency and reducing unnecessary overheads. A speech recognition system helps to transcribe a conversation between doctors and patients and upload key conversations of it into a medical record.

Before the emergence of sound recognition technology in the healthcare industry, practitioners depend on medical transcriptionists which were inaccurate, slow, and had a large chance of human error. However, due to several benefits of the voice recognition system, physicians and clinicians do not have to wait for transcriptionists as the system can document the patient’s data themselves and save it on their laptop, mobile, or workstation. Such benefits of a sound recognition system are projected to gain traction in the COVID-19 pandemic.

Sound Recognition Market Share Insights

Market players operating in this market are Reality AI, OtoSense, Wavio, Audio Analytic Ltd., and abilisense. The market players are emphasizing collaboration and partnerships to offer enhanced sound recognition technology. For example, in 2019, a sound recognition technology provider, Wavio announced a collaboration with ID R&D Inc. which is a provider of biometric solutions. The company will help to include AI-based voice, behavioral, and anti-spoofing technology. This collaboration will support Wavio to offer high-tech sound event recognition and detection technology.

Report Scope

Segments Covered in the 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 2015 to 2025. For the purpose of this study, Million Insights has segmented the global sound recognition market report on the basis of device, application, and region:

• Device Outlook (Revenue, USD Million, 2014 - 2025)
    • Smartphones
    • Tablets
    • Smart Home Devices
    • Smart Speakers
    • Connected Cars
    • Hearables
    • Smart Wristbands

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Automotive
    • Healthcare and Fitness
    • Smart Home
    • Safety and Security
    • Others

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • U.K.
        • Germany
        • France
    • the Asia Pacific
        • China
        • India
        • Japan
    • South America
        • Brazil
        • Argentina
    • Middle East & Africa
        • UAE
        • Saudi Arabia