The automotive industry has seen a considerable technological transition, with the incorporation of voice recognition systems into vehicles being one of the most inventive breakthroughs. Automotive Voice Recognition Systems have changed the way any user or driver interact with the vehicles, making driving safer and more convenient. Automotive Voice Recognition Systems have the potential to increase road safety. These systems reduce distractions and enable hands-free operation by letting drivers to manage numerous vehicle features using voice commands. Drivers can use voice commands instead of dialing a phone number or modifying the climate control settings, keeping their eyes on the road and lowering the risk of accidents caused by distracted driving. Voice recognition systems in cars can provide drivers with personalized assistance, similar to virtual assistants found in smartphones or smart speakers. These systems can understand natural language and respond to queries or requests. For example, a driver can ask for directions to a specific location, and the system will provide turn-by-turn navigation instructions. Some advanced systems can even adjust vehicle settings based on individual preferences, such as personalized seat positions or preferred temperature settings. Major automakers have integrated speech recognition systems into their vehicles, demonstrating the technology's potential. For example, BMW's Intelligent Personal Assistant allows drivers to manage numerous features, ask inquiries, and access information via voice commands. Ford's SYNC system allows drivers to make hands-free calls, listen to music, and manage navigation via voice commands. These examples show how voice recognition technologies are becoming a fundamental feature of modern vehicles, boosting the driving experience.
The factors such as demand for enhanced safety and regulatory requirement from the governments and rising adoption of digital technologies supplement the growth of the automotive voice recognition system market. However, high installation cost and data security concerns are the factors expected to hamper the growth of the automotive voice recognition system market. In addition, integration with other technology and introduction of the voice commerce (V-commerce) are expected to create ample opportunities for the key players operating in the automotive voice recognition system market.
For the purpose of analysis, the global automotive voice recognition system market is segmented on the basis of technology, application, vehicle type, vehicle class, and region. By technology, the market is divided into embedded, cloud based, and hybrid. By application, the market is categorized into AI, and Non-AI. On the basis of vehicle type, the market is bifurcated into ICE vehicle and Electric vehicle. By vehicle class, the market is classified into economy, mid-priced, and luxury. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the automotive voice recognition system market are Microsoft, Apple Inc., Google Inc., IBM, SoundHound AI Inc., Sensory Inc., Kardome Technology LTD, Amazon.com, Inc., HARMAN International, and Robert Bosch GmbH.
The factors such as demand for enhanced safety and regulatory requirement from the governments and rising adoption of digital technologies supplement the growth of the automotive voice recognition system market. However, high installation cost and data security concerns are the factors expected to hamper the growth of the automotive voice recognition system market. In addition, integration with other technology and introduction of the voice commerce (V-commerce) are expected to create ample opportunities for the key players operating in the automotive voice recognition system market.
For the purpose of analysis, the global automotive voice recognition system market is segmented on the basis of technology, application, vehicle type, vehicle class, and region. By technology, the market is divided into embedded, cloud based, and hybrid. By application, the market is categorized into AI, and Non-AI. On the basis of vehicle type, the market is bifurcated into ICE vehicle and Electric vehicle. By vehicle class, the market is classified into economy, mid-priced, and luxury. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the automotive voice recognition system market are Microsoft, Apple Inc., Google Inc., IBM, SoundHound AI Inc., Sensory Inc., Kardome Technology LTD, Amazon.com, Inc., HARMAN International, and Robert Bosch GmbH.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive voice recognition system market analysis from 2022 to 2032 to identify the prevailing automotive voice recognition system market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the automotive voice recognition system market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global automotive voice recognition system market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Technology
- Embedded
- Cloud Based
- Hybrid
By Application
- AI
- Non-AI
By Vehicle Type
- ICE Vehicle
- Electric Vehicle
By Vehicle Class
- Economy
- Mid-Priced
- Luxury
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Google Inc.
- SoundHound AI Inc.
- Sensory Inc.
- Apple Inc.
- HARMAN International
- Microsoft Corporation
- IBM Corporation
- Amazon.com, Inc.
- Robert Bosch GmbH
- Kardome Technology LTD
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTOMOTIVE VOICE RECOGNITION SYSTEM MARKET, BY TECHNOLOGY
CHAPTER 5: AUTOMOTIVE VOICE RECOGNITION SYSTEM MARKET, BY APPLICATION
CHAPTER 6: AUTOMOTIVE VOICE RECOGNITION SYSTEM MARKET, BY VEHICLE TYPE
CHAPTER 7: AUTOMOTIVE VOICE RECOGNITION SYSTEM MARKET, BY VEHICLE CLASS
CHAPTER 8: AUTOMOTIVE VOICE RECOGNITION SYSTEM MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the automotive voice recognition system market was valued at $3.4 billion in 2022, and is estimated to reach $14.7 billion by 2032, growing at a CAGR of 16.1% from 2023 to 2032.An automotive voice recognition system is a technology that allows drivers to use voice commands to operate many operations of the vehicle. It allows the driver or user to operate services like making phone calls, sending text messages, modifying climate control settings, navigating, and managing entertainment systems without using hands. Voice recognition algorithms turns spoken words into actionable commands, which are then get executed as a response to the user's or drive's action.
The key factors driving the growth of the automotive voice recognition system market include rising adoption of digital technologies and demand for enhanced safety and regulatory requirement from the governments. Moreover, Automobile Manufacturers are developing technology by themselves to cater its users the technology providers. For instance BMW has its own voice recognition system which uses natural language processing (NLP) and machine learning (ML). The technology is designed to recognize and respond to the driver's vocal instructions, allowing them to operate numerous operations within the vehicle without having to engage with physical controls. Thus, adoption of digital technology will further increase the demand for the automotive voice recognition system market.
The market also offers opportunistic factors to the key players operating in the market to enhance their services, which creates ample opportunities for the growth of the market across the globe. This includes integration of the system with other technology, and many companies’ uses strategies such as acquisition of the voice recognition system firms, to increase development and advancement in technology to foster growth, which supplements the growth of the market across the globe. In June 2023, Toyota gave a statement, according to which the firm is expected to be using the power of the latest AI technology to dramatically improve the speech recognition user experience for drivers and the passengers, promising substantially faster reaction times and suggestions customized to the driver's condition and preferences.
For instance, in June 2023, Microsoft Corporation has partnered with Mercedes-Benz to test artificial intelligence in-car ChatGPT. This technology is used for audio requests via its Hey Mercedes voice assistant, which aids in the system's capabilities expansion. It improves voice commands and interaction, task capabilities, and the ability to ask follow-up inquiries, among other features. Furthermore, Microsoft Corporation completed its acquisition of Nuance Communications Inc., one of the conversational AI and ambient intelligence industries including healthcare, financial services, retail, and telecommunications. Through this strategic move, Microsoft is expected to digitally transform various sectors including automotive with the voice recognition system technology.
The automotive voice recognition system market is segmented into technology, application, vehicle type, vehicle class, and region. By technology, the market is divided into embedded, cloud based, and hybrid. By application, the market is categorized into AI, and Non-AI. On the basis of vehicle type, the market is bifurcated into IC engine and Electric. By vehicle class, the market is classified into economy, mid-priced, and luxury. By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players profiled in the study include Microsoft, Apple Inc., Google Inc., IBM, SoundHound AI Inc., Sensory Inc., Kardome Technology LTD, Amazon.com, Inc., HARMAN International, and Robert Bosch GmbH. The developments carried out by these companies supplement the growth of the market across the globe. For instance, in November 2022, HARMAN International entered into partnership with SoundHound for seamless, natural voice AI experience to the automotive market. This voice-enablement allow drivers & passengers to effortlessly launch and interact with the broad range of apps and devices already accessible via HARMAN Ignite Store that provides hands free convenience and safety. Such developments create ample opportunities for the growth of the market across the globe.
Key Market Insights
By technology, the cloud based segment was the highest revenue contributor to the market, and is estimated to reach $6.5 billion by 2032, with a CAGR of 17.6%.By application, the AI segment dominated the global market, and is estimated to reach $12.3 billion by 2032, with a CAGR of 16.5%.
By vehicle type, the ICE vehicle segment was the highest revenue contributor to the market, with $9.4 billion in 2032, with a CAGR of 13.4%.
By vehicle class, the luxury segment was the highest revenue contributor to the market, with $5.0 billion in 2032, with a CAGR of 14.5%.
By region, Asia-Pacific was the highest revenue contributor, accounting for $5.9 billion in 2032, with a CAGR of 15.1% during the forecast period.
Companies Mentioned
- Google Inc.
- SoundHound AI Inc.
- Sensory Inc.
- Apple Inc.
- HARMAN International
- Microsoft Corporation
- IBM Corporation
- Amazon.com, Inc.
- Robert Bosch GmbH
- Kardome Technology LTD
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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