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Automotive Voice Recognition System - Global Market Outlook (2019-2027)

Automotive Voice Recognition System - Global Market Outlook (2019-2027)

4.3 (28 reviews)
Published: July 2020 ID: SMRC19496
4.3 (28 reviews)
Published: July 2020 ID: SMRC19496

This report covers the impact of COVID-19 on this global market

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.

Technologies Covered:
• Embedded
• Hybrid

Level of Autonomous Driving Covered:
• Semi-Autonomous
• Autonomous
• Conventional

Vehicle Types Covered:
• Battery Electric Vehicle (BEV)
• Commercial Vehicles
• Electric Vehicles
• Hybrid Vehicles
• Internal Combustion Engine (ICE)
• Passenger Cars

Applications Covered:
• Artificial Intelligence
• Non-Artificial Intelligence

 End Users Covered:
• Luxury Vehicles
• Economy Vehicles
• Mid-Priced Vehicles

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain
o Rest of Europe      
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand      
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliance

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