Waves Audio announces collaboration with US semiconductor and telecommunication equipment company, Qualcomm Technologies, for the expansion of former company solutions in Qualcomm Snapdragon 855 mobile platform.

North America: Waves Audio, a leading provider of intelligent audio solutions in professional audio and consumer electronics space, is partnering with Qualcomm Technologies, a subsidiary of Qualcomm Incorporated. The Snapdragon 855 mobile platform that will power smartphones in 2019, is expanding audio capabilities with the incorporation of the Waves Nx and Waves Maxx. Now, Waves processing solutions will be available to the original equipment manufacturers designing devices and software for the Snapdragon platform.

Waves is the world-leading developer of audio DSP technologies and the driving power behind hit records, major motion pictures and popular video games over the world. A recipient of a Technical Grammy Award, Waves is acclaimed by top professional and prosumer users worldwide. Like the VR which delivers feel of real world, Waves Nx delivers real-world 3D sound on headphones.

EVP of Waves Audio stated that “The company is pleased to announce the collaboration with Qualcomm. In this way, Waves can deliver the promise of bringing professional audio solutions to consumers. And everyone deserves the very best audio experience their device can deliver.”

VP of Qualcomm Technologies Inc. further added that “Snapdragon was designed to serve as the ultimate destination for hardware manufacturers and software developers that want to deliver the premium solutions to users. The company is excited to collaborate with Waves to enable advanced audio processing solutions for mobile phones.”

According to TechSci Research, the partnership between American semiconductor & telecommunication equipment company and Qualcomm Technologies will provide all-in-one audio solutions for original equipment manufacturers. The latest snapdragon chipset is offering enhanced AI capabilities, which will further bolster the growth of the global artificial intelligence market. Moreover, with the surging popularity of the connected devices and rising demand for luxury entertainment systems, global smart speaker market is expected to witness growth in the coming years.

According to the recently published report by TechSci Research, “Global Smart Speaker Market, By Component (Software and Hardware), By Intelligent Virtual Assistant (Google Assistant, Alexa, Siri, etc.), By Connectivity (Bluetooth, Wi-Fi and Others), By Application (Consumers, Smart Home, Smart Offices and Others), By Company and By Region, Forecast & Opportunities, 2023”, the global smart speaker market is expected to reach USD 11.8 billion by 2023, exhibiting a CAGR of over 30% during 2018 - 2023. Major factors driving the growth of the market are increasing disposable incomes, growing number of smart homes and rising internet penetration. Based on Intelligent Virtual Assistants, in 2017, Alexa, which was launched by Amazon in 2014, held the largest market share. Growing consumer preference for Alexa due to its lesser cost and more application than other assistants fuels the demand for Alexa smart speakers across the globe. In 2017, North America region held the largest market share in smart speaker market, with key smart speaker players being Amazon, Apple, Bose and Sony.

According to TechSci Research Report, “Global Artificial Intelligence Market, By Application (Image Recognition, Natural Language Processing, Speech Recognition, etc.), By End User (Consumer Electronics, BFSI, etc.), By Region, Competition Forecast & Opportunities, 2012 – 2022”, the global artificial intelligence market is anticipated to grow at a CAGR of over 60% during 2017 – 2022. On the basis of application, global artificial intelligence market has been broadly segmented into image recognition, natural language processing, speech recognition, gesture control & others. Among these categories, image recognition dominates the global artificial intelligence market, and the segment is expected to maintain its dominance in the coming years as well.

According to another report published by TechSci Research, “Global Hi-Fi System Market, By System (Product, Device & DAP), By Technology (Wired & Wireless), By Application (Residential, Commercial & Automotive), By Region (North America, Europe, APAC & Others), Competition Forecast & Opportunities, 2012 - 2022”, the global Hi-Fi system market, valued at $ 11.5 billion in 2016, is forecast to cross $ 18 billion by 2022. Growing media and entertainment industry, coupled with increasing awareness among people about high resolution audio are among the major driving factors for the global Hi-Fi system market. Moreover, with expanding youth population, demand for headphones and portable speakers is also increasing, thereby positively influencing the global Hi-Fi system market.