Sound Recognition - Global Market Trajectory & Analytics

Global Sound Recognition Market to Reach $8.5 Billion by 2027

Amid the COVID-19 crisis, the global market for Sound Recognition estimated at US$198.5 Million in the year 2020, is projected to reach a revised size of US$8.5 Billion by 2027, growing at a CAGR of 71% over the analysis period 2020-2027. Smartphones, one of the segments analyzed in the report, is projected to record a 69.6% CAGR and reach US$5.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Tablets segment is readjusted to a revised 60.2% CAGR for the next 7-year period.



The U.S. Market is Estimated at $60.9 Million, While China is Forecast to Grow at 67.4% CAGR

The Sound Recognition market in the U.S. is estimated at US$60.9 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2027 trailing a CAGR of 67.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 63.7% and 60.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 47.9% CAGR.

Other Device Types Segment to Record 83.9% CAGR

In the global Other Device Types segment, USA, Canada, Japan, China and Europe will drive the 83.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$22.9 Million in the year 2020 will reach a projected size of US$1.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2027.

Select Competitors (Total 35 Featured):

• Abilisense
• Amazon Web Services, Inc.
• Audio Analytic Ltd.
• Google
• IBM Corporation
• Microsoft Corporation
• Nuance Communications, Inc.
• OtoSense Inc.
• Reality AI
• Wavio