Market Scenario
Voice Recognition System Market for Automotive is expected to reach USD 5088.91 Million by 2026 from USD 875.8 Million in 2016 at a CAGR of 19.24 %.(detailed analysis of the market CAGR is provided in the report). Voice recognition also referred as speech recognition is a system that translates the analog waves of human voice into digital data by sampling the sound and to convert speech to on-screen text or a computer command, a computer has to go through several complex steps. Voice recognition is an alternative to typing on a keyboard in order to operate device, perform commands, or write without having to use a keyboard, mouse, or press any buttons; basically a computer software program or hardware device with the ability to decode the human voice. Voice recognition is a process of providing a fairly natural and intuitive way of controlling the simulation while allowing the user's hands to remain free.
Voice Recognition System in Automotive
The main purpose of introducing voice recognition in automotive sector is to simplify the life of driver and passenger in vehicle and furthermore make user-friendly operating system in order to perform some actions using speech commands by the driver or the passengers such as open/close doors, switch on/off headlamp and signal indicator of the vehicle and more. Voice recognition system in automotive consist of control of communication systems integrated in the car infotainment system including telephone, audio devices and destination inputs for navigation. This system will facilitate in achieving “hands-free,” “eyes-free” operation mode. High cost of high-end voice recognition system will restrain the market growth in near future. However, the cost of the voice recognition system is likely to decrease in the coming years. Higher adoption rate by vehicle manufacturers to equip passenger cars with voice recognition system will lead to raise the demand for Voice Recognition System Market for Automotive in forecast period. The highest revenue generating region is North America in 2016; However, APAC is projected to be one of the fastest-growing regions in the Voice Recognition System Market for Automotive by 2026. Rise in significant adoption of advance technologies in automotive electronics in APAC will drive the market in near future.Key Highlights:
• Voice Recognition System Market for Automotive analysis and forecast, in terms of volume and value. • Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Voice Recognition System Market for Automotive. • Voice Recognition System Market for Automotive segmentation on the basis technology, level of autonomous driving, fuel type, end-user, application, and geography. (Country-wise) has been provided. • Voice Recognition System Market for Automotive strategic analysis with respect to individual growth trends, future prospects along with contribution of various sub-market stakeholders have been considered under the scope of study. • Voice Recognition System Market for Automotive analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation. • Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. • Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Voice Recognition System Market for Automotive are also profiled. Years that have been considered for the study are as follows: • Base Year – 2016 • Estimated Year – 2016 • Forecast Period – 2016 to 2026 For company profiles, 2016 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered
Research Methodology
American Association of Motor Vehicle Administrators (AAMVA), International Organization of Motor Vehicle Manufacturers (OICA), Automotive Component Manufacturers Association of India (ACMA), Bloomberg, Hoovers, Factiva are some of the sites that are being referred to gain insights about Voice Recognition System Market for Automotive. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Voice Recognition System Market for Automotive globally.
Key players in the Voice Recognition System market for Automotive are:
• Apple • Harman • Nuance • Vocalzoom • Alphabet • Inago • Sensory • Lumenvox • Voicebox • Microsoft
Key Target Audience:
• Automobile industry and related end-user industries • Research and consulting firms • Voice Recognition System Market for Automotive Investors • Automotive voice recognition system manufacturers and component suppliers • Industry associations and other driver assistance systems manufacturers • Automotive voice recognition system manufacturers and software suppliers Scope of the Report: The Research report segments the Voice Recognition System Market for Automotive based on technology, level of autonomous driving, fuel type, end-user, application, and geography. Voice Recognition System Market for Automotive, by Technology (Volume Only) • Embedded • Hybrid Voice Recognition System Market for Automotive, by Application (Value Only) • Artificial Intelligence • Non-Artificial Intelligence Voice Recognition System Market for Automotive, by Fuel Type • Battery Electric Vehicle (BEV) • Internal Combustion Engine (ICE) • Others (Hybrid Vehicles) Voice Recognition System Market for Automotive, by Level of Autonomous Driving • Autonomous • Conventional • Semi-Autonomous Voice Recognition System Market for Automotive, by End user • Economy Vehicles • Mid-Priced Vehicles • Luxury Vehicles Voice Recognition System Market for Automotive, by Geography • North America • Europe • Asia Pacific • Middle East & Africa • Latin America Available Customization Maximize Market Research offers customization of report and scope of the report as per the specific requirement of our client.
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