Speech and Voice Recognition Market to be Worth $26.79 billion by 2025

 According to a new market research report titled, “Speech and Voice Recognition Market by Type (Speech and Voice Recognition), End User (Automotive, Healthcare, BFSI, Education, Legal), Technology (Artificial Intelligence and Non-Artificial Intelligence), and Geography — Global Forecast to 2025,” published by Meticulous Research®, the speech and voice recognition market is expected to grow at a CAGR of 17.2% from 2019 to 2025 to reach $26.79 billion by 2025.

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Scope of the Report

Speech and Voice Recognition Market, by Function

• Speech Recognition
• Automatic Speech Recognition
• Text-to-Speech
• Voice Recognition
• Speaker Identification
• Speaker Verification

Speech and Voice Recognition Market, by Technology

• Artificial Intelligence
• Non-artificial Intelligence

Speech and Voice Recognition Market, by End User

• Automotive
• Healthcare
• BFSI
• Education
• Hospitality
• Government and Public Services
• Manufacturing/Enterprises
• Retail and E-Commerce
• Legal
• Consumer Electronics
• Military and Defense

Speech and Voice Recognition Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
• Latin America
• Middle East and Africa

Speech and voice recognition is a small part of biometric systems. It authorizes contactless control to several devices and equipment that deliver automatic translation inputs and generates print-ready dictation. Over the years, voice and speech recognition technology has gained much importance. It is becoming a common part of individuals’ lives associated with computers, smartphones, and smart devices. Besides, voice and speech recognition technology offer several benefits, such as increased speed and accuracy, and help improve the system’s efficiency. Voice recognition allows for security features like voice biometrics, while speech recognition allows for automatic transcriptions and accurate commands.

The growing proliferation of voice-enabled devices, increasing consumer demand for smart devices, and integration of voice-enabled in-car infotainment systems are the key factors driving the growth of the speech and voice recognition market. However, the high cost of voice or speech-enabled smart devices is one of the major hindering factors for the growth of this market.

Proliferation of voice-enabled devices fuels the growth of the speech and voice recognition market

The growing use of AI in automobiles, healthcare, and consumer electronics has increased the demand for voice-enabled devices. In 2018, 9.5 million people in the U.K. used a smart speaker, up 98.6% over 2017. More than two-thirds of those users (68.0%) used an Amazon Echo, while 26.2% used a Google Home. According to Smart Home Week digital magazine survey 2019, nearly 57% of total homes in the U.K. are using some smart devices, and around 45% of consumers are expected to upgrade with advanced smart home devices. Moreover, the growing demand for voice-enabled applications in devices, including smart speakers, consumer electronics, hospitality, smart wearable gadgets, connected cars, smart home, and healthcare, is one of the key factors driving the voice speech recognition market.

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Smart manufacturing and industry 4.0 set to gain momentum, Market is expected to reach $446.24 billion by 2029, at a CAGR of 21.5%

 Meticulous Research®—leading global market research company published a research report titled ‘Smart Manufacturing Market by Technology (Robotics, AI, IIoT, Cloud, AR/VR), Application (Machine Inspection; Energy, Quality, and Warehouse Management; Planning, Surveillance, Optimization), End-Use Industry, and Geography - Global Forecast to 2029’.

According to this latest publication from Meticulous Research®, the smart manufacturing market is expected to grow at a CAGR of 21.5% from 2022–2029 to reach $446.24 billion by 2029. The growth of the smart manufacturing market is attributed to factors such as the increasing number of government initiatives to promote industrial automation, the rising number of investments in Industry 4.0, growing demand for safety regulation compliance, and high labor costs in developed economies. However, the high capital and operating expenses and a lack of standardization for technology platforms are some of the major factors restraining the growth of this market.

Scope of the Report:

Smart Manufacturing Market, By Technology

• Industrial Internet of Things
• Cloud Computing & Storage
• Robotics & Automation
  • Robots
  • Automated Storage and Retrieval Systems (ASRS) and Automatic Guided Vehicles (AGVS)
  • Automated Assembly Lines
  • Wearables & Mobile Devices
• Industrial Cybersecurity
• Additive Manufacturing
• Augmented Reality (AR)/Virtual Reality (VR)
• Digital Twin
• Artificial Intelligence
• Blockchain          

Smart Manufacturing Market, By Application 

• Surveillance & Safety
• Quality Management
• Resource Optimization
• Inventory & Warehouse Management
• Machine Inspection & Maintenance
• Production Planning
• Energy Management

Smart Manufacturing Market, By End-use Industry       

• Automotive
• Heavy Machinery & Tools
• Aerospace & Defense
• Metals & Mining
• Electronics & Semiconductors
• Medical Devices
• Food & Beverage
• Pharmaceuticals
• Oil & Gas
• Fast-moving Consumer Goods (FMCG)
• Paints & Chemicals
• Energy & Power
• Pulp & Paper
• Other End-use Industries (Agriculture and Prefabricated Construction)

Smart Manufacturing Market, By Geography  

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest Of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest Of Asia-Pacific
• Latin America
• Middle East & Africa

Key questions answered in the report:

• Which are the high growth market segments in terms of technology, application, end-use industry, and country/region?
• What is the historical market for smart manufacturing across the globe?
• What are the market forecasts and estimates for 2022–2029?
• What are the major drivers, restraints, and opportunities in the global smart manufacturing market?
• Who are the major players in the global smart manufacturing market, and what shares do they hold?
• Who are the major players in various countries, and what shares do they hold?
• How is the competitive landscape?
• What are the recent developments in the global smart manufacturing market?
• What are the different strategies adopted by the major players in the market?
• What are the geographic trends and high growth countries?
• Who are the local emerging players in the global smart manufacturing market, and how do they compete with the other players?

Key Players:

The key players operating in the global smart manufacturing market are Amazon Web Services, Inc. (U.S.), Robert Bosch Manufacturing Solutions GmbH (Germany), Cisco Systems, Inc. (U.S.), 3D Systems Corporation (U.S.), Plex Systems, Inc. (U.S.), Cognex Corporation (U.S.), PTC Inc. (U.S.), FANUC CORPORATION (Japan), SAP SE (Germany), Mitsubishi Electric Automation, Inc. (U.S.), Emerson Electric Co. (U.S.), Siemens AG (Germany), Schneider Electric SE (France), ABB Ltd (Switzerland), Hitachi, Ltd. (Japan), and Intel Corporation (U.S.).

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Insect Protein Market: Expected to Reach $9.46 Billion by 2030 at a CAGR of 28.4%

In recent years, there has been a significant increase in the demand for high-quality meat products in emerging economies of Southeast Asia, the Middle East & Africa, and Latin America, mainly due to population growth and increasing urbanization in these regions. According to the FAO, the total annual meat production is projected to increase by more than 48 MT in 2027 over the previous year to reach nearly 367 MT, predominantly in developing countries accounting for 76% of the total production. Meat producers are continuously focusing on improving value with the help of quality protein-containing feed to meet the growing demand.

According to the latest publication on the Insect Protein Market by Meticulous Research®, the insect protein market is expected to record a CAGR of 28.4% from 2022 to 2030 to reach $9.46 million by 2030.

Furthermore, the growing meat demand has resulted in the adoption of insect-derived feeds by meat producers. Hence, the high demand for insect feed by meat producers in emerging economies is expected to increase the number of investments in developing countries. Major market players are expanding in these markets due to such opportunities. For instance, InnovaFeed announced its plan to build ten production sites by 2030 due to the increasing demand for a sustainable protein source for animal diets.

By 2025, the global demand for fish and shellfish is expected to reach almost 180 million tons (Source: FAO). Dried and powdered fish feed, such as anchovy, used as a feed for aquaculture, is becoming increasingly inadequate. According to the FAO, 1.2 to 1.6 million tons of raw materials for fish feed will be required in 2025 as an alternative to fish meal. Hence, the insect farming sector has gained significant traction in developed countries.

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The key players operating in the insect protein market include Ÿnsect (SAS) (France), Protix B.V. (Netherlands), Enterra Feed Corporation (Canada), InnovaFeed (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Singapore), Entomo Farms (Canada), Hargol FoodTech (Israel), Aspire Food Group (U.S.), All Things Bugs LLC (U.S.), Beta Hatch (U.S.), EntoCube OY (Finland), Armstrong Crickets Georgia (U.S.), Global Bugs Asia Co., Ltd (Thailand), JR Unique Foods (Thailand), Cricket Lab Limited (U.K.), BioflyTech (Spain), TEBRIO (Spain), nextProtein (France), Hexafly (Ireland), HiProMine S.A. (Poland), and Protenga Pte. Ltd. (Singapore).

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CBD-infused Products Market Worth $216.81 Billion by 2028, Growing at a CAGR of 45.6%

 According to a new market research report "CBD-infused Products Market by Source, Type (Personal Care Products, Supplements, and Pet Products), Beverages (Non-alcoholic Beverages and Alcoholic Beverages), and Distribution Channel (Offline Store and Online Store) — Global Forecast to 2028", published by Meticulous Research®, the CBD-infused products market is expected to grow at a CAGR of 45.6% from 2021 to 2028 to reach $216.8 billion by 2028.

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The growth of this market is mainly attributed to the rising demand and increasing legalization of cannabis, growing application of cannabis in cancer, and health benefits offered by cannabis-infused products. In addition, the usage of cannabis in pet food and the increasing demand for cannabis-infused drinks provides significant opportunities for manufacturers of CBD-infused products. However, the high cost associated with cannabidiol and stringent government regulations against cannabis in certain countries hinders the growth of this market.

The CBD-infused products market studied in this report is majorly segmented by source (hemp and marijuana), type [edibles (confectionery products, bakery products, beverages, coffee & tea products, and other CBD edible products), oil and extracts, personal care products (skincare products, haircare products, deodorants & perfumes, other personal care products), smoke & vape products, supplements, and other CBD products]; distribution channel [offline (dispensaries, pharmacies, natural health foods store, and others) and online], and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the country level.

Based on the source, the CBD-infused products market is mainly segmented into hemp and marijuana. In 2021, the hemp segment is estimated to account for the larger share of the overall CBD-infused products market. The large share of this segment is mainly attributed to its lower THC concentrations, which decrease or eliminate its psychoactive effects and increasing number of hemp-derived products for various medical applications. Also, its anti-inflammatory, anti-aging, antioxidant properties; and high effectiveness of CBD extracted from hemp is a key factor for the large share of this segment.

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The key players profiled in the global CBD-infused products market are Canopy Growth Corporation (Canada), Aurora Cannabis Inc. (Canada), Docklight Brands, Inc. (U.S.), Maricann Inc. (Canada), Tilray, Inc. (Canada), Gw Pharmaceuticals Plc (U.K.), Vivo Cannabis Inc. (Canada), Cresco Labs, Inc. (U.S.), Tauriga Sciences, Inc. (U.S.), Marimed Inc. (U.S.), CV Sciences, Inc. (U.S.), Puration, Inc. (U.S.), Kona Gold Solutions Inc. (U.S.), Bhang Inc. (U.S.), DT Brands & Co (N.I.) Ltd. (U.S.), Forest Coffee Trading Co. (U.S.), L8 Life, Inc. (U.S.), Honeydrop Beverages Inc (U.S.), and Elixinol Global Limited (Australia), among others.

Scope of the Report:

CBD-infused Products Market, by Source

• Hemp
• Marijuana

CBD-infused Products Market, by Type 

• Edibles
• Confectionery Products
• Bakery Products
• Beverages
• Coffee & Tea Products
• Other Edible Products
• Oil & Extracts
• Personal Care Products
• Skincare Products
• Haircare Products
• Deodorants and Perfumes
• Other Personal Care Products
• Smoke & Vape Products
• Supplements
• Other CBD Products

CBD-infused Products Market, by Distribution Channel

• Offline Store
• Dispensary
• Pharmacies
• Natural Health Foods Store
• Other Stores
• Online Store

CBD-infused Products Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Italy
• France
• Benelux
• Rest of Europe (RoE)
• Asia-Pacific (APAC)
• Australia
• New Zealand
• Rest of Asia-Pacific (RoAPAC)
• Latin America
• Mexico
• Brazil
• Colombia
• Argentina
• Chile
• Uruguay
• Rest of Latin America (RoLATAM)
• Middle East & Africa

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Robotic Vacuum Cleaner Market Worth $15.4 Billion by 2028, Growing at a CAGR of 23.2%

 According to a new market research report “Robotic Vacuum Cleaner Market by Type (Cleaning Robots, Mopping Robots, Hybrid Robots), Distribution Channel (Online, Offline), Operation (Self-drive) Price Range (Below USD 200, 201- 500) Application (Residential, Commercial)– Global Forecast to 2028”, published by Meticulous Research®, the Robotic Vacuum Cleaner Market is expected to grow at a CAGR of 23.2% from 2021 to 2028 to reach $15.4 billion by 2028 from $3.58 billion in 2021.

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Impact of COVID-19 on the Robotic Vacuum Cleaner Market:

The COVID-19 pandemic has positively impacted the global robotic vacuum cleaners industry with increased demand from residential end-users. The market players have witnessed significant growth in demand for robotic vacuum cleaners during the pandemic. The increased demand was attributed to high consumer awareness related to cleanliness and germ prevention in homes due to the rapid spread of the virus. In 2020, consumers focused on buying products to keep homes clean due to the increasing importance of maintaining hygiene. Consumers in North America, Europe, and Asia-Pacific purchased robotic vacuum cleaners through online channels during the pandemic.

The manufacturing companies were compelled to temporarily shut down manufacturing & supply chain operations due to complete lockdowns and barriers on import & export in Asian and European countries in the first & second quarters of 2020. Additionally, mandatory orders related to ‘shelter-in-place impacted the supply chain activities in 2020. However, in the second quarter, companies witnessed an increasing demand for robotic vacuum cleaners in the residential sector due to the limited availability of house help in several countries.

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Scope of the Report

Robotic Vacuum Cleaner Market, by Type

• Cleaning Robots
• Mopping Robots
• Hybrid Robots

Robotic Vacuum Cleaner Market, by Distribution Channel

• Online
• Offline

Robotic Vacuum Cleaner Market, by Operation

• Self-drive
• Remote-controlled

Robotic Vacuum Cleaner Market, by Application

• Residential
• Commercial
  • Hospitality
  • Offices
  • Healthcare
  • Retail
  • Other Commercial Applications

Robotic Vacuum Cleaner Market, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East and Africa

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Testing, Inspection, and Certification (TIC) Market to Reach $105.9 Billion by 2027

 According to a new market research report titled, “Testing, Inspection, and Certification Market by Service, End User (Retail, Agriculture, Oil & Gas, Construction, Chemicals, Machinery, Transportation, Automotive, Government, Marine, and Healthcare), and Region—Forecast to 2027”, by Meticulous Research®, the testing, inspection, and certification (TIC) market is expected to register a CAGR of 2.4% from 2020 to 2027 to reach $105.9 billion by 2027.

 

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A surge in brand protection policies and product diversity, rising illegal trade of counterfeit and pirated goods, increasing stringent government regulations for ensuring safety and security, and the emergence of advanced technologies for automation, remotely-performed services, and enhanced digitization are expected to drive the growth of the testing, inspection, and certification market. Besides, the increasing demand for TIC services and growing awareness among consumers regarding safety and product quality are the key factors driving the growth of this market. The outsourcing of testing, inspection, and certification services to achieve higher product quality is a new trend in the testing, inspection, and certification market. However, the global impact of COVID-19 on most industry verticals, including automotive, manufacturing, consumer goods and retail, and construction, and diverse regulations and standards across different regions may restrain the growth of this market in the coming years.

 

The Impact of COVID-19 on the Testing, Inspection, and Certification Market

 

As the COVID-19 pandemic continues to spread, the world is still facing an unprecedented crisis. The outbreak has significantly affected the world economy and several industry verticals, including manufacturing and automotive. The impact of COVID-19 has varied depending upon each industry’s level of resilience. Industry verticals, such as manufacturing, retail, and healthcare, are using TIC services amid the COVID-19 pandemic using advanced technologies to maintain the continuity of operations, and conduct audits, damage assessments, and certification procedures. Subsequently, organizations are using remote technological channels and digital testing to ensure the proper delivery of their services and safety of industrial facilities, hospitals, and power grids and conduct the necessary testing required for upholding the quality of essential products and the functioning of critical equipment.

 

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Scope of the Report:

TIC Market by Service

• Testing
• Inspection
• Certification

TIC Market by End User

• Consumer Goods and Retail
• Agriculture and Food
• Oil & Gas
• Construction
• Chemicals
• Mining
• Machinery
• Transportation
• Automotive
• Power Generation
• Government
• Marine
• Healthcare
• Financial Institutions
• Others

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TIC Market by Geography:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Rest of Asia-Pacific
• Latin America
• Middle East & Africa

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Semiconductor Gas Filters Market to Grow at a CAGR of 5% From 2020 to Reach $21.6 Billion by 2027

 According to a new market research report titled “Semiconductor Gas Filters Market by Filter Element (Metallic Filter Elements, Non-metallic Filter Elements), Construction (In-line Filters, Gasket Filters), and Geography”—Global Forecast to 2027”, the semiconductor gas filters market is expected to grow at a CAGR of 5% from 2020 to 2027 to reach $21.6 billion by 2027. In terms of volume, this market is expected to reach 18.7 million units by 2027, growing at a CAGR of 4.6% from 2020.

 

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Gases are extensively used across various semiconductor manufacturing processes, including deposition, photolithography, etching, doping, annealing, and chamber cleaning. Hence, maintaining the purity of the gases is vital, and gas filters are an integral part of semiconductor and wafer manufacturing. The major factors driving the semiconductor gas filters market include the rising adoption of digital transformation technologies, the growing demand for crystalline silicon wafer solar cells, and the emergence of 5G technology. The growing usage of new materials and alloys as filter elements is also projected to aid in the growth of this market.

 

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Scope of the Report

Semiconductor Gas Filters Market, by Construction/Type

• In-line Filters
• Gasket Filters

Semiconductor Gas Filters Market, by Filter Element

• Metallic Filter Elements
  • Stainless Steel
  • Nickel
  • Hastelloy
  • Other Metallic Filters
• Non-metallic Filter Elements
  • Polytetrafluoroethylene (PTFE)
  • Ceramic
  • Nylon
  • Other Non-metallic Filters

Semiconductor Gas Filters Market, by Geography

• Asia-Pacific (APAC)
  • Taiwan
  • South Korea
  • Japan
  • China
  • India
  • Australia & New Zealand
  • Southeast Asia
  • Rest of Asia-Pacific (RoAPAC)
• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe (RoE)
• Rest of the World
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America (RoLATAM)
  • Middle East & Africa

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