Voice Recognition System Market Size, Share, Trend Industry Analysis, Size, Share, Growth, Trends, And Forecast To 2030
Research Reports
Mar 11, 2022
Market Summary –
According to Market Research Future (MRFR), the Global Voice Recognition System Market for automotive is expected to garner exponential traction growing at an impressive CAGR during the review period. The impressive capabilities of machine learning systems have exhibited immense improvements in voice tracking and recognition system. Also, AI has shown significant capabilities in these systems over the past decade, notifying clearly that it is here to stay, impacting the adoption trends.
The global voice recognition system market for automotive is growing rapidly. The market growth attributes to the evolution of VR systems to integrated assistant systems. Besides, the increasing demand for safety features in automobiles led by stringent government norms and rapidly growing awareness for safety drives the market growth. Moreover, increasing spending on personalized and prioritized comfort features escalates the growth of the market.
These systems involve motion and speech-recognition sensors and functions by two types of integration, from human to machine, and machine to human. With the advanced man-machine interface or the computer-human interface, vehicles bridge the gap between drivers using the sensing mechanism of the external conditions. The global automotive voice recognition system market is expected to witness explosive demand soon due to the emergence of trends such as driverless or autonomous cars.
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Additionally, new product development and technological advances drive the global automotive voice recognition system market. Some of the latest trends include an artificial intelligence-powered voice-recognition system that can be used to operate multiple features such as navigation control, driver window up/down phone calls, weather information, climate control, calendar, media control, and even holiday & ticketing information, all through voice commands.
Major Players:
Players leading the global automotive voice recognition system market include Microsoft (US), Alphabet (US), Nuance (US), Apple (US), BMW (Germany), Harman (US), Daimler (Germany), and Ford (US), among others.
Voice Recognition System Market for Automotive – Segments
The automotive voice recognition system market is segmented into vehicle type, technology, application, and regions. The vehicle type segment is divided into passenger and commercial vehicles. The technology segment is sub-segmented into embedded and hybrid. The application segment is divided into AI and non-AI. By regions, the market is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
Voice Recognition System Market for Automotive – Regional Analysis
North America leads the global voice recognition system market for automotive. Factors such as the increase in demand for commercial vehicles with advanced voice recognition systems attributes to the largest market share. Besides, the strong presence of major system manufacturers and high spending on automotive systems increase the adoption of voice recognition and subsequently market sales.
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Asia Pacific is another lucrative market for voice recognition systems. The market has been experiencing rapid growth due to the rising sales of passenger cars in rapidly developing countries, including India, Japan, China, and South Korea. Additionally, rising numbers of global automakers and technological advancements influence the growth of the regional market.
The voice recognition system market for automotive in Europe is garnering a substantial share. There is a significant influx of technology in the region. Factors such as the presence of large and advanced automobile industries in Germany, France, and Sweden positively impact regional market growth. Moreover, Italy’s luxury car industry provides an additional impetus to the growth of the regional market.
Automotive Voice Recognition System Market – Competitive Landscape
Highly competitive, the automotive voice recognition system market appears fragmented with the presence of several well-established players. These players incorporate strategic approaches such as mergers & acquisitions, collaboration, expansion, and product/technology launch to gain a larger competitive share.
They make substantial investments to drive R&D activities and expansion plans. The market is projected to witness relentless innovations and new products, eventually intensifying competition among manufacturers.
Industry/ Innovation/ Related News:
March 1, 2021 —- Hyundai announced the development of a dynamic voice recognition system for selected models of the 2021 -Elantra and Elantra Hybrid in North America. The new automotive voice recognition system is powered by Houndify, a leading global voice AI and conversational intelligence technologies innovator.
The dynamic voice recognition system makes the driving experience safer, easier and more convenient, providing cloud-based information from various knowledge domains.
Continue…….
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