Isaiah 42:1-7 is the first of four “Servant Songs” in Isaiah, referring to God’s Servant, the Messiah. The others are 49:1-6. 50:1-11; and 52:13-53:12.
Matthew quoted Isaiah 42:1-3 in Matthew 12:17-21, referring to Jesus. Clearly Isaiah was prophesying Christ in v1-17. Jesus Christ is the God chosen Servant whom God delight (v1).
v1: [I will put my Spirit on Him]. Jesus’s ministry started with His baptism by the Holy Spirit.
v2: [He will out shout or cry out or raise His voice in the street]. Peter told us in 1 Peter 2:23 [When they hurled their insults at Him, He did not retaliate; when He suffered, He made no threats.]
v6: “You” here is referring to Christ. God is speaking directly to Christ.
v6: [to be a covenant for the people]: Christ is the mediator of the new covenant (Heb 8:6)
v6: Simeon saw baby Jesus and proclaim the fulfillment of this prophesy: Christ is the light to the gentiles (Luke 2:32). Jesus Himself said “I am the light of the world. Whoever follows me will never walk in darkness, but will have the light of life.” (John 8:12)
v10-13: A song of praise to God.
v14: God is speaking here. [I have been quiet..]: God has been quiet and waiting for the time He had set, to send His Son into this world. [But when he time had fully come, God sent His Son, born of a woman, born under law, to redeem those under law] (Gal 4:4-5)
v18-25: Isaiah turned from Christ God Chosen Servant to Israel, the Israel, who is also called servant. However this servant is spiritually blind and deaf.
v24: [Was it not the Lord?] It was God who disciplined the Jews by using Babylon to destroyed Jerusalem and exiled them into foreign land. God is the righteous Judge, He is the loving father who does not enjoy but need to discipline His children who are blind and deaf to His voice.