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Far-Field Speech and Voice Recognition Market to Touch USD 3,005.14 Million by 2024 at a CAGR of 24.56% – Report by Market Research Future (MRFR)

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New York, USA, Jan. 26, 2022 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Far-Field Speech and Voice Recognition Market information by Microphone Solution, by Components, by Application and Region – forecast to 2027” market size to reach USD 3,005.14 million, growing at a compound annual growth rate of 24.56% by 2024.

Market Scope:
The advent of IoT and AI has led in many technological challenges and innovations in smart home technologies. This may offer robust opportunities for the market in the forecast period. AI voice recognition technologies in smart home devices support key technologies like voiceprint recognition, multi-turn dialogue interaction, instant-on, and far field sound pick up.

Dominant Key Players on Far-Field Speech and Voice Recognition Market Covered are:

  • Synaptics Inc. (US)
  • Texas Instruments Inc. (US)
  • Qualcomm Inc. (US)
  • Sensory Inc. (US)
  • STMicroelectronics NV (Switzerland)
  • Harman International Industries Inc. (US)
  • Andrea Electronics Corporation (US)
  • Cirrus Logic Inc. (US)
  • Microsemi Corporation (US)
  • DSP Group Inc. (US)
  • Knowles Corporation (US)
  • Meeami Technologies Inc. (US)
  • Alango Technologies Ltd (Israel)
  • Fortemedia Inc. (US)
  • VOCAL Technologies Ltd (US)

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https://www.marketresearchfuture.com/sample_request/7964   

Market USP Exclusively Encompassed:
Market Drivers
Increasing Need for Voice Control Based Smart Speakers to Boost Market Growth
The increasing need for voice control-based smart speakers coupled with the growing significance of technology for speech communications as this intends in permitting smart devices in identifying distant human speech accelerate the far field speech & voice recognition market growth.

Accuracy Issues to act as Market Restraint
The accuracy issues in far-field speech and voice recognition systems in harsh and noisy environments may act as market restraints in the forecast period.

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Browse In-depth Market Research Report (111 Pages) on Far-Field Speech and Voice Recognition Market: 
https://www.marketresearchfuture.com/reports/far-field-speech-and-voice-recognition-market-7964

Segmentation of Market Covered in the Research:
The global far field speech and voice recognition market has been segmented based on application, microphone solution, and component.

By component, the microphone segment will lead the market over the forecast period. Microphones help to reliably and accurately facilitate digital communication with the far field speech and voice recognition solution.

By microphone solution, the linear array segment will dominate the market over the forecast period. A linear array comprises of two or more microphones arranged in a straight line. The high market share is owing to its wide application across smart devices like home security devices, home routers, smart TVs and set-top box, and speakers.

By application, the smart speaker segment will spearhead the market over the forecast period for the growing adoption of virtual assistant across devices like tablets and smartphones in Europe and North America.

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Regional Analysis
North America to Precede Far Field Speech and Voice Recognition Market
North America will precede the market over the forecast period. High concentration of market players, the easy availability of proficient technical expertise, high penetration of smart devices like smart speakers, end users willingly investing in new technologies, high use of smart devices that are integrated with the latest technologies such as artificial intelligence and internet of things, the high consumer enthusiasm in the US for using the latest innovations, and the presence of several celebrated players that boost their customer base and helps them in expanding their regional network and creating a niche space in the market both regionally and also on a global scale are adding to the global far field speech and voice recognition market growth in the region. Besides, the presence of early adopters and key smart speaker providers in the US, the willingness of customers in accepting and using new technologies that have encouraged manufacturers in developing advanced and new products, the penetration of smart devices in the region, high implementation of smart devices with superior technologies like AI and IoT, and the enthusiasm of consumers in acknowledging and using new innovations additionally encouraging makers in developing superior and new products are also adding market growth.

Talk to Expert:
https://www.marketresearchfuture.com/ask_for_schedule_call/7964

COVID-19 Impact on the Global Far-Field Speech and Voice Recognition Market
Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the far field speech and voice recognition market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption. But following the relaxation of lockdowns, the market is likely to get back into normalcy soon.

Competitive Landscape
The far field speech and voice recognition market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, and more.

Industry News
Deepgram has launched $10M speech recognition startup program. This program will offer select companies with custom-trained speech models. Besides, Deepgram has also added an array of features to its platform which also includes a revamped developer console, API documentation, and software development kits.

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Related Reports:
Speech Analytics Market, by Type (Services, Solutions), by Deployment Type (Cloud, On-premise), by End-User (BFSI, Government, Healthcare, Retail, IT), by Organization Size (Large Enterprises, Small & Medium Enterprises) – Forecast 2027

Interactive Voice Response Market, By Solution (Call Routing, Outbound, Self-Service), By Technology (Speech Based, Touch Tone Based, Text to Speech), By Service (Maintenance & Support), By Deployment (Cloud, On-Premise) – Forecast 2027

About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

Basware Makes Waves as a Leader in Accounts Payable Invoice Automation

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New analyst report recognizes Basware capabilities with the highest scores possible in the Exception Handling, Fraud and Risk Management, and Tax Compliance and Operations criteria.
CHARLOTTE, N.C., July 8, 2024 /PRNewswire/ — Basware, a global leader in AP automation and invoice processing, has been recognized as ‘a Leader’ in The Forrester Wave™: Accounts Payable Invoice Automation, Q3 2024.

CFOs, business leaders and AP (accounts payable) professionals have long sought automated invoice processes. But only recently, with the advent of AI, has there been a significant shift in the space. Companies must offer superior AI capabilities, greater automation, and more comprehensive insights into financial and cash data to attract new customers and retain existing ones.
According to the Forrester report, Basware was named as a leader in its 31-criterion evaluation. The company received the highest scores possible across 16 criteria, including Exception Handling, Fraud and Risk Management, and Tax Compliance and Operations.
The Forrester Wave™ report states:
“Basware heads the pack with a laser focus on automating the last mile of AP processes. As the largest specialist provider of APIA [Accounts Payable Invoice Automation] software, Basware has established itself as an APIA powerhouse with customer obsession, practical innovation, and solid execution. Its pragmatic product roadmap addresses critical client pain points related to compliance and fraud management.”
AP teams have been battling against external forces in recent years, such as macro-economic headwinds, the supply chain crunch, labor market shortages and expanding regulations, putting the squeeze on resources. To alleviate pressures, AP professionals need access to cost and time effective technologies that can manage increasingly complex business operations, support customers and always remain compliant with global regulations.
Nish Makwana, Finance Manager at Specsavers (customer of Basware), commented:  
“Being recognized as a leader in the Forrester report confirms the outstanding performance we’ve experienced as a customer of Basware’s AP automation and Statement Matching solutions.”
In recent months, Basware has furthered its commitment to innovation and delivering value to customers and the industry by:
Partnering with Deloitte to remove manual invoice processing and accelerate finance transformationAcquiring UK-based AP Matching to boost statement reconciliationLaunching AP Protect to help protect organizations from the threat of invoice errors and fraud using AIJason Kurtz, CEO at Basware, commented:
“AP teams are tasked with managing thousands of invoices and payments every week, often putting a strain on resources and pushing them to balance speed with compliance. The answer to this challenge? Unified end-to-end APIA solutions. The industry has been calling for enhanced automated solutions to support AP departments, and we’re helping our customers save time and money, while remaining compliant with ever-changing global regulations. We believe that being named a leader sets us apart from our competitors. But we’re just getting started, and the best is yet to come.”
In 2023, Basware experienced one of its most successful financial years in its almost 40-year history. It expanded its market presence and added over 300 customers to its global portfolio of over 1000+ AP customers. During that period, Basware handled over 200 million invoices and $900 billion in invoice spend through its platform.
About Basware
Basware is how finance leaders in global enterprises can finally automate their complex, labor-intensive invoice processes and stay compliant with regulatory change. Our AP automation and invoicing platform helps you achieve a new level of efficiency – in a matter of months – while reducing errors and risks. We bring a unique combination of true automation, complete coverage, and deeper expertise to make it all just happen for our customers. That’s why the world’s most efficient AP departments at thousands of companies rely on Basware to handle over 220 million invoices per year. Basware. Now it all just happens.™
For more information visit: https://www.basware.com/en/
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Cato Networks Named a Leader in the 2024 Gartner Magic Quadrant for Single-Vendor SASE

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Cato SASE Cloud Platform continues to shape the enterprise security market
TEL AVIV, Israel, July 8, 2024 /PRNewswire/ — Cato Networks, the SASE leader, today announced that Gartner, Inc. has recognized the company as a Leader in the 2024 Gartner® Magic Quadrant™ for Single-Vendor SASE.

“Cato’s true SASE platform is the antidote to IT complexity that persists in the face of ongoing so-called ‘platformization’ efforts,” said Shlomo Kramer, co-founder and CEO at Cato Networks. “Cato pioneered the SASE market and is shaping its future with best-in-class customer experience and a train of innovations that deliver on SASE’s promise.”
Built from its inception to be a platform, the Cato SASE Cloud combines operational excellence and an elegant customer experience. Cato’s autonomous cloud service offloads IT from the grunt work of extending, upgrading, patching, and scaling security infrastructure while sustaining resiliency and availability. “Platformization” is a portfolio approach to SASE and attempts to integrate multiple acquired products with differing code bases, form factors, policy engines, and data lakes into a single platform – an impossible task that is apparent to anyone familiar with the two approaches.
“We believe this Gartner recognition reflects what our customers experience with Cato every day,” continued Kramer.
As of July 3, 2024, on Gartner Peer Insights™, the Cato SASE Cloud Platform had an overall rating of 4.7 out of 5 for single-vendor SASE and 183 verified reviews – more than 10x of any Leader in the single-vendor SASE Magic Quadrant.
Cato Expands the Scope of Single-Vendor SASE
Gartner defines single-vendor secure access service edge (SASE) offerings as those that deliver multiple converged-network and security-as-a-service capabilities, such as software-defined WAN, secure web gateway, cloud access security broker, network firewalling and zero trust network access. These offerings use a cloud-centric architecture and are delivered by one vendor.1
The Cato SASE Cloud Platform extends beyond the original definition of SASE to deliver world-class performance and empower IT teams to eliminate threats and troubleshoot network incidents faster. Cato owns and manages the global cloud network, delivering an exceptional SASE experience to any enterprise worldwide. Functionally, Cato extends beyond threat prevention of the original SASE scope with SASE-managed endpoint protection (EPP/EDR) and SASE-based extended detection and response (XDR), the first AI-driven networking and security incident detection and response platform.
To experience Cato yourself, visit us at https://www.catonetworks.com.
1Gartner, Magic Quadrant for Single-Vendor SASE, Andrew Lerner, Jonathan Forest, Neil McDonald, Charlie Winckless, 3 July 2024
GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant and PEER INSIGHTS are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences with the vendors listed on the platform, should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.
Resources
Read the Cato blog, “With Great Leadership Comes Great Responsibility”Picture of Shlomo KramerCato Networks’ LogoAbout Cato NetworksCato Networks is the SASE leader, delivering enterprise security and networking in a single cloud platform. With Cato, organizations replace costly and rigid legacy infrastructure with an open and modular SASE architecture based on SD-WAN, a purpose-built global cloud network, and an embedded cloud-native security stack.
Want to learn why thousands of organizations secure their future with Cato? Visit us at www.catonetworks.com.

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Sinch Launches Omnichannel Connector on Salesforce AppExchange

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Expanding Messaging Capabilities for Businesses
SAN FRANCISCO and STOCKHOLM, July 8, 2024 /PRNewswire/ — Sinch (Sinch AB (publ) – XSTO: SINCH), which is pioneering the way the world communicates through its Customer Communications Cloud, today introduced the Sinch Omnichannel Connector on Salesforce AppExchange.  This innovative solution enhances conversational marketing opportunities and customer experiences by offering Salesforce Marketing Cloud customers advanced one-way and two-way messaging capabilities.  The solution is now available on Salesforce AppExchange.

The Sinch Omnichannel Connector seamlessly integrates with the Salesforce ecosystem, empowering businesses to elevate their marketing strategies by reaching and engaging customers across their preferred channels. This new offering expands the reach of Salesforce Marketing Cloud platform features, providing a comprehensive suite of omnichannel messaging capabilities. Businesses can now connect with customers through one-way and two-way messaging across 13 diverse channels, including platforms like RCS, Kakao Talk, Viper, and Instagram.  This expands Salesforce’s native channels of SMS, MMS, Email, WhatsApp, and LINE, providing a comprehensive communication solution. 
“With the Sinch Omnichannel Connector, businesses can enhance their customer communications, personalize engagements, and maximize the return on their marketing investments,” said Jonathan Campbell, Senior Director, Messaging Products at Sinch.  “Salesforce Marketing Cloud users can now leverage a broader spectrum of messaging channels through Sinch, beyond those directly supported by Salesforce, to optimize their marketing strategies and elevate customer engagement.”
 To get started, Salesforce Marketing Cloud users simply need to have an existing account and onboard the Conversation API through the Sinch Dashboard. From there, they can easily activate the channels of their choice, tailoring their messaging strategy to suit their unique business needs.
Sinch has partnered with Salesforce since 2014 when Salesforce expanded its SMS offering into international markets. Sinch is a strategic supplier for Salesforce’s global SMS delivery and provides enterprise-grade messaging solutions that support Salesforce and its global customer base.
For more information visit Sinch Omnichannel Connector
Salesforce, AppExchange, Marketing Cloud and others are among the trademarks of Salesforce, Inc.
CONTACT:
For further information, please contact:
Janet LennonDirector of Global Communications [email protected]
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/sinch-ab/r/sinch-launches-omnichannel-connector-on-salesforce-appexchange,c4012692

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