Global Voice Recognition in Automotive is Anticipated to grow at a Moderate Pace i.e., USD 4.12 Billion during the Forecast Period 2021-2027

Published Date: Aug, 2021

The global voice recognition market in the automotive market is expected to witness a CAGR of 20.18% during the forecast period. Factors contributing to the growth of voice recognition in the automotive market include rising number of automobile production and sales, rising income of consumers across the world that allows them to spend on comfort and luxury services, development of infotainment and technology services to offer safety and comfort to drivers, the growing influence of e-commerce in the automotive industry, and growing popularity of automotive voice techniques globally. Furthermore, the increasing traction towards autonomous vehicles, integration of various electronic functions in the central console of the cars by OEMs, rising demand for connected vehicles, strict government regulations, However, poor software usage, dual voice, limited use of keywords, vocabulary, and grammar is anticipated to hamper the growth of the voice recognition in the automotive industry. Nevertheless, motorcycle intelligent biometric voice recognition characteristic is projected to have lucrative opportunities for the growth of the market during the forecast period.

The COVID-19 pandemic is anticipated to have an adverse effect on the automotive as various countries are facing cash flow problems and low liquidity. However, after the reopening of economic activities in various countries and robust vaccination drive, the voice recognition market in automotive is anticipated to have a steady growth.

BMW and Microsoft collaborated to develop an improved in-car voice recognition system. Using the enhanced techniques of machine learning and artificial intelligence.

Browse 78 market data Tables and 47 Figures spread through 247 Pages and in-depth TOC on Voice Recognition Market in Automotive by Application (Artificial Intelligence and Non-Artificial Intelligence), by Technology (Embedded and Hybrid), by 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)), and Region - Global Forecast to 2027"

By technology, the embedded technology is projected to witness the highest CAGR during the forecast period.

Based on technology, the voice recognition market in the automotive industry is divided into embedded and hybrid. The embedded technology is anticipated to be the profitable segment during the forecast period as it provides a comfortable experience of the car cabin, guarantee of car control to the driver, and vehicle parking, thus bolstering the growth of the embedded segment during the forecast period.

Global Voice Recognition In Automotive Market Segmentation Analysis

Segment

Categorization

Leading Category

Application

Artificial Intelligence and Non-Artificial Intelligence

Non-Artificial Intelligence (Fastest)

Technology

Embedded and Hybrid

Embedded (Fastest)

End-User

Economy Vehicles, Luxury Vehicles, and Mid-Price Vehicles

Luxury Vehicles (Largest)

Economy Vehicles (Fastest)

Fuel Type

Battery Electric Vehicle, Internal Combustion Engine, and Others

Battery Electric Vehicle (Fastest)

Internal Combustion Engine (Largest)

Level of Autonomous Driving

Autonomous, Semi-Autonomous, and Conventional

Semi-Autonomous (Fastest)

Conventional (Largest)

Vehicles

Passenger Vehicles (PVs) and Commercial Vehicles (CVs)

Passenger Vehicles (Fastest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

Asia-Pacific (Highest)

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“Asia Pacific to witness the fastest growth in 2020.”

The Asia Pacific is anticipated to witness high demand in the voice recognition market in automobiles owing to government regulations to have active and passive safety features in vehicles which will boost the growth. Moreover, the presence of key players in the automotive and technology for automobiles, partnerships to provide better products will capture the market in the region.

Some of the major players in the global voice recognition market in automotive include Nuance, Vocalzoom, Sensory, Apple, Alphabet, Inago, LumenVox, Microsoft, Daimer AG, and Ford Motor Company.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Application, Technology, End-User, Fuel Type, Level of Autonomous Driving, Vehicles, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Nuance, Vocalzoom, Sensory, Apple, Alphabet, Inago, LumenVox, Microsoft, Daimer AG, and Ford Motor Company

Global Voice Recognition Market In Automotive Coverage

Application Insight and Forecast 2015-2027

  • Artificial Intelligence
  • Non-Artificial Intelligence

Technology Insight and Forecast 2015-2027

  • Embedded
  • Hybrid

End User Insight and Forecast 2015-2027

  • Economy Vehicles
  • Luxury Vehicles
  • Mid-Price Vehicles

Fuel Type Insight and Forecast 2015-2027

  • Battery Electric Vehicle
  • Internal Combustion Engine
  • Others

Level of Autonomous Driving Insight and Forecast 2015-2027

  • Autonomous
  • Semi-Autonomous
  • Conventional

Vehicles Insight and Forecast 2015-2027

  • Passenger Vehicles (PVs)
    • Hatchbacks
    • Sedans
    • Multi-Purpose Vehicles (MPVs)
    • Sport Utility Vehicles (SUVs)
  • Commercial Vehicles (CVs))
    • Lightweight Commercial Vehicles (LCVs)
    • Heavy Commercial Vehicles (HCVs)

Geographical Segmentation

Voice Recognition Market In Automotive by Region

North America

  • By Application
  • By Technology
  • By End User
  • By Fuel Type
  • By Level of Autonomous Driving
  • By Vehicles
  • By Country – U.S., Canada, and Mexico

Europe

  • By Application
  • By Technology
  • By End User
  • By Fuel Type
  • By Level of Autonomous Driving
  • By Vehicles
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Application
  • By Technology
  • By End User
  • By Fuel Type
  • By Level of Autonomous Driving
  • By Vehicles
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Application
  • By Technology
  • By End User
  • By Fuel Type
  • By Level of Autonomous Driving
  • By Vehicles
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

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Global Voice Recognition in Automotive is Anticipated to grow at a Moderate Pace i.e., USD 4.12 Billion during the Forecast Period 2021-2027