Automotive Voice Recognition System - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Automotive Voice Recognition System market is accounted for $8.35 billion in 2019 and is expected to reach $33.57 billion by 2027 growing at a CAGR of 19.0% during the forecast period. Some of the key factors propelling the market growth are rising demand for security features in automobiles, strict government norms and quickly increasing protection awareness among individuals. However, huge prices for a high-end voice recovery device are the restraining factor for the growth of the market.
Automotive voice recognition system contains the monitoring of digital vehicle infotainment devices that comprises telecommunications, visual and navigational destination inputs. Voice detection is a program or a machine's potential for receiving and executes instructions.
By end user, Mid-Priced Vehicles segment is estimated to have a lucrative growth owing to accounts for majority of the market share as most of the vehicles prepared with voice recognition systems fall into mid-price category. Furthermore, integration of new technologies and increase in command for enhanced comfort & convenience features is expected to continue pouring the automotive voice recognition system market.
On the basis of geography, North America is estimated to have a lucrative growth in the forecast period. The growth is mainly attributed by the existence of major automotive system manufacturers, which are chiefly focusing on key advancement such as expansion, mergers & acquisition, product launch and others. Furthermore, spending considerable time in Vehicles by the people created the need for adoption of superior technologies, such as Voice Recognition System Market for Automotive systems.
Some of the key players in Automotive Voice Recognition System Market include Alphabet, Apple, BMW, Daimler, Ford, Harman, iNAGO, Lumenvox, Microsoft, Nuance, Sensory and VoiceBox.
Level of Autonomous Driving Covered:
Vehicle Types Covered:
• Battery Electric Vehicle (BEV)
• Commercial Vehicles
• Electric Vehicles
• Hybrid Vehicles
• Internal Combustion Engine (ICE)
• Passenger Cars
• Artificial Intelligence
• Non-Artificial Intelligence
End Users Covered:
• Luxury Vehicles
• Economy Vehicles
• Mid-Priced Vehicles
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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