| Status : Published | Published On : Dec, 2023 | Report Code : VRAT4006 | Industry : Automotive & Transportation | Available Format :
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Page : 195 |
Global Voice Recognition Market in Automotive – Analysis and Forecast (2025-2030)
Industry Insights by Application (Artificial Intelligence and Non-Artificial Intelligence), by Technology (Embedded and Hybrid), End User (Economy Vehicles, Luxury Vehicles and Mid-Price Vehicles), by Fuel Type (Battery Electric Vehicle, Internal Combustion Engine and Others), by Level of Autonomous Driving (Autonomous, Semi-Autonomous and Conventional), and by Vehicles (Passenger Vehicles (PVs) and Commercial Vehicles (CVs))
Industry Overview
The Voice Recognition Market for automotive is valued at USD 2.81 Billion in 2023 and is projected to reach USD 6.87 billion by 2030, at a CAGR of 16.41% during the forecast period for 2025 -2030. It is predicted that technical developments and an increase in the use of high-tech electronic devices will boost the industry. One of the key factors propelling the market's expansion is the increasing use of voice biometrics as it grants support to complete the transaction worry-free.
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The demand for voice-controlled workstations and navigation systems is driving growth in the hardware and software industries. The market for automobile voice recognition systems is expanding as a result of factors like the soaring demand for infotainment systems and VR advancements coupled with assistance systems. Additionally, the market size for speech recognition systems is increased by the increasing use of infotainment systems in high-end vehicles. The market growth is influenced by the quickly expanding knowledge of vehicle safety features. Doctors and physicians can convert their speech into a comprehensive, in-depth clinical description that is stored in the Electronic Health Record (EHR) system by using voice recognition technology in smartphones. Shortly, the market is anticipated to be driven by the growing adoption of voice-enabled IoT devices in smart home automation. Many conventionally offline gadgets might benefit from IoT-enabled devices because they offer cutting-edge user experiences in addition to more conventional ones like touch displays and buttons.
Covid-19 Impact
The global voice recognition system sector was significantly impacted by the start of the COVID-19 epidemic. Logistics issues caused by the pandemic made it difficult for players in the sector to get the raw materials needed to create an automotive speech recognition system, recruit workers from quarantine, and transport finished goods. The market for automotive speech recognition systems is, however, expected to continue growing tremendously during the assessment period.
Market Segment
Insight by Technology
The global market is segmented into artificial intelligence-based and non-artificial intelligence-based segments based on technology. More than 72% of global revenue in 2021 was accounted for by the non-artificial intelligence-based technology category. According to estimates, the market will continue to lead, increasing at a consistent CAGR between 2025 and 2030. The category of technology based on artificial intelligence, on the other hand, is anticipated to increase at the quickest rate throughout the projected period. As the system accurately recognizes speech patterns, there is a growing demand for artificial intelligence-based technology.
Insight by application
The global voice recognition business in automotive based on application is bifurcated into embedded and hybrid applications. The embedded voice application market further segmented into semi-autonomous and autonomous voice recognition has the largest market share and is anticipated to contribute to the growth plan. The increased demand for connected vehicles and the development of infotainment systems attributed to expanding the embedded market growth during the forecast period.
Insight by price-range
On the basis of affordability global voice recognition market in automotive covers mid-range, luxury, and economical vehicles. Luxurious vehicles including four–wheelers (Car, buses, vanity vans, etc.) use the complete and premium voice recognition system. However, the mid-range car market followed by the segment of luxurious cars is expected to have the greatest portion of all end users in the automotive voice recognition market over the forecast period. Additionally, because of the escalating desire for comfort and convenience features as well as the adoption of technology to support centralized functions in vehicles, economy vehicles are predicted to rise at a faster rate.
Insight by the functionality
The global market of VR in automotive based on functionality is divided into voice recognition and speech recognition. In 2021, the voice recognition market held a commanding share of more than 65.5% of the global market in terms of revenue. Implementations of speech recognition are ideal for use in cars and mobile phones. Accessibility to data and services must be possible at all times and in all places due to society's growing mobility. The customer experience can be greatly improved by using cloud- and client-based voice recognition and businesses can maximize cost savings.
Insight by Fuel Type
The Global VR market in automotive based on fuel type is categorized into battery electric vehicle market (BEV), internal combustion engine (ICE), and other fuel type markets. The ICE fuel type rules the global market for automotive speech recognition market. The increased demand for ICE fuel-based vehicles including cars is predicted to grow and contribute to the global growth plan of the Voice Recognition market.
Insight by driving
The market is divided into autonomous, semi-autonomous, and conventional driving styles depending on the degree of automated driving. Because infotainment features are constantly improving and driving operations are becoming more automated, the semi-autonomous segment is expected to experience the highest growth among all levels of autonomous driving. Furthermore, the traditional segment is anticipated to hold the biggest market share.
Insight by verticals
The global speech recognition market for automobiles is divided into two segments based on the utility of the vehicle: vehicles for personal use and vehicles for commercial use. Both markets are divided into light and heavy-duty vehicle markets, including cars, taxis, buses, and other vehicles utilized in BFSI, government, retail, healthcare, military, legal, and other industries. The healthcare sector's worldwide vehicle market experienced the highest increase during the pandemic, and it is expected to continue to rise steadily from 2023 through 2030. The global speech recognition market for luxury and mid-range automobiles is also expected to be dominated by vehicles used for personal, then business, purposes.
Global Voice Recognition Market in Automotive Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025 - 2030 |
|
Market Size in 2023 |
U.S.D. 2.81 Billion |
|
Revenue Forecast in 2030 |
U.S.D. 6.87 Billion |
|
Growth Rate |
16.41% |
|
Segments Covered in the Report |
By Technology, By Application, By price range, By Functionality, By Fuel Type, By Vertical |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and the Rest of the World |
Industry Dynamics
Growth Drivers
The increased acceptance of digital technologies in the automotive industry and the expanding use of vehicles around the world are what are fueling the growth of the global market for automotive voice recognition systems. The rapid rise in popularity of speech recognition technology and technological breakthroughs have encouraged the use of these systems in the automotive industry. The manufacturing and sales of vehicles are being propelled by the increasing demand for them around the world, which is also boosting the market for automotive voice recognition systems. The need for automobile speech recognition systems is anticipated to increase as consumer spending on premium services, infotainment, and technological developments for comfort and safety rises.
The voice recognition system performs better because of the lower noise levels inside the vehicle cabin due to enhanced acoustics employed in vehicle manufacture. In addition, the population's growing preference for electric cars is a significant aspect that may be held accountable for the market's explosive expansion for automotive speech recognition systems. Another factor that is thought to be a big market driver is the rising popularity of autonomous driving cars. Market participants in the voice recognition systems industry are making significant investments in biometric and artificial intelligence technologies, which may present prospects for market expansion in the automobile recognition systems industry in the years to come. The use of voice recognition technologies in vehicles is also growing as more people adopt virtual voice assistants like Siri, Alexa, Maluuba, and Cortana because of the ease they provide to users.
Challenges
The main obstacles to the expansion of the speech recognition market in the automobile industry are the high cost of high-end voice recognition systems, data security issues, dual voice, and language and vernacular translation issues. The price of the speech recognition system is anticipated to go down in the future, nevertheless, as increased demand for voice recognition systems for automobiles results from increased implementation rates of voice recognition systems by vehicle manufacturers.
Opportunities
Future developments in the global industry, such as the sophisticated biometric voice recognition feature for motorcycles and the integration of assistant systems into VR systems, are expected to offer potential business opportunities. Payment by card, auto-retail alliances, brand-specific AI systems, voice engine optimization, and improvements to privacy and security are some of the key trends affecting the growth of the voice recognition system market. Additionally, the development of motion and speech recognition sensors, as well as their interaction between humans and machines, would promote market expansion.
Industry Ecosystem
Due to new trends like driverless or autonomous cars, the automotive speech recognition system industry is predicted to have great demand shortly. Voice commands are used to control many services, including navigation, phone calls, calendars, media control, weather information, climate control, and holiday and ticketing information. These systems use advanced artificial intelligence.
Geographical Overview
In terms of revenue, North America dominated the global market for automotive voice recognition systems in 2023, and it is anticipated that it will continue to do so during the projected period. The main drivers of the demand for the automotive voice recognition system were the rise in disposable income, the increased demand for luxury goods, the increased demand for personal vehicles due to the limited availability of public transportation, and the increased demand for the newest technologies in the area. Furthermore, North America has a sizable automobile industry, and the adoption of modern EVs outfitted with cutting-edge automotive speech recognition systems is anticipated to expand as electric vehicles gain popularity due to heightened public awareness of global warming.
Due to rising passenger car sales, expanding economies, a change in industry participants, and technical advancement, Asia-Pacific is anticipated to have the fastest growth in the speech recognition market for the automotive industry. Along with increased auto production and significant advancements in automotive electronics, rising disposable income, rapid urbanization, and consumers' evolving lifestyles are all driving up demand in the Asia-Pacific speech recognition market for autos.
Recent Development by Key Players
• LG and Clarence began working together in January 2020 to create an automotive voice recognition system for connected vehicles.
• The Ambient Clinical Intelligence (ACI) solution Nuance Dragon Ambient eXperience (DAX), now integrated into Microsoft Teams, was introduced by Microsoft and Nuance Communications in September 2020. It enables large-scale virtual consultations to improve physician wellness and patient health outcomes.
Competitive Insight
To acquire a competitive advantage, market vendors are concentrating on growing their consumer base. As a result, important players are undertaking several strategic activities, including collaborations and mergers. Cantab Research and Nuix, the developer of ground-breaking software that turns data into useful intelligence, partnered in September 2020. Through a complete software solution, Speechmatics and Nuix are offering highly accurate, secure voice recognition technology to organizations.
Some of the prominent players in the global voice and speech recognition market include Advanced Voice Recognition Systems, Inc., Agnitio S.L.,Amazon.com, Inc., Api.ai, Apple, Inc., Anhui USTC iFlytek, Ltd., Baidu, Inc., BioTrust ID B.V., CastleOS Software, LLC, Facebook, Inc., Google, Inc., International Business Machines Corp., Microsoft Corp., MModal, Inc., Nortek Holdings, Inc., Nuance Communications, Inc., Raytheon Company, SemVox GmbH, Sensory, Inc.
The Voice Recognition Market in Automotive report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Technology
- Artificial Intelligence-Based
- Non-Artificial Intelligence-Based
- By application
- Embedded
- Hybrid Applications
- By Price-Range
- Mid-Range
- Luxury
- Economical
- By Functionality
- Voice Recognition
- Speech Recognition
- By Fuel Type
- Battery Electrical Vehicle (BEV)
- Internal Combustion Engine (ICE)
- Other
- By Driving
- Autonomous
- Semi-Autonomous
- Conventional Driving
- Automated Driving
- By verticals
- Light
- Car
- Taxi
- Bus
- Other
- Heavy Duty
- BFSI
- Government
- Retail
- Healthcare
- Military
- Legal
- Other
- Light
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
.png "Voice Recognition Market in Automotive Size")
Source: VynZ Research
.png "Voice Recognition Market in Automotive Analysis")
Source: VynZ Research
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Voice Recognition Market in Automotive