Global Automotive Voice Recognition Market by Manufacturers, Regions, Type and Application, Forecast to 2025
Wiseguyreports.Com Adds “Automotive Voice Recognition – Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2025” To Its Research Database.
Voice recognition system is a human-machine interface system that consists of programmed hardware. This programmed hardware receives commands from humans and acts accordingly. With the increasing demand for user-friendly features in vehicles, manufacturers are installing voice recognition devices on car dashboards for easy access while driving a vehicle. As per reports, the global automotive voice recognition system market, which was valued at US$ 876.1 million in 2016, should reach US$ 3890.3 million by 2025. The CAGR is expected to be 19.41% during the forecast period.
Increased use of smartphones in cars and incorporation of technology to support centralized functioning are some important factors driving the global automotive voice recognition system market. This voice recognition system makes things easier for the driver and the passengers. They can use speech commands for certain actions such as open or close vehicle doors, switch on or switch off the headlamp and signal indicator, and more. With an increase in the production of vehicles around the world, the voice recognition system market for automobiles is on the rise.
Voice recognition systems are increasingly being used in autonomous and semi-autonomous vehicles. Reports also suggest that the demand for voice recognition systems in luxury vehicles will hold the largest market share over the forecast period. This report provides a precise market analysis of the past market scenario, current market situation, and future growth prospects. It also tells about the demands, sales, key players, key regions, market drivers, and more to help manufacturers plan their future strategies.
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The global automotive voice recognition system market is bifurcated into types, technology, fuel type, end-user, and autonomous driving.
Based on types, the market is divided into single language recognition and multilingual recognition.
Based on technology, the market is divided into embedded and hybrid.
Based on fuel type, the market is segmented into battery electric vehicles (BEV), internal combustion engine vehicles (ICE), and others.
Based on end-user or applications, the market is segmented into passenger vehicles and commercial vehicles.
Based on autonomous driving, the market is segmented into autonomous, conventional and semi-autonomous.
North America (The United States, Mexico and Canada), Europe (Italy, UK, France, Germany, Russia, Spain and rest of the region), Asia-Pacific (India, Australia, South Korea, Japan, China, Indonesia, Singapore and rest of the region), Central and South America (Argentina, Columbia, Brazil and rest of the region), and the Middle East and Africa (UAE, Nigeria, Egypt, Turkey, Saudi Arabia and South Africa) are the main regions considered in this report for analyzing the global automotive voice recognition system market.
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The Asia-Pacific region is expected to be the main and the largest market for vehicle voice recognition system by 2025. An increase in the production of automobiles and the adoption of advanced technologies are the main factors driving the market in this region. North America and Asia-Pacific have many key players. Therefore, the voice recognition system is being adopted in these regions rapidly. Europe also has a major share of the global voice recognition system market.
Nuance is the largest and the most important player in the automotive voice recognition market. It occupies more than 70% of the market share. The company sells millions of its products to automotive media system suppliers and vehicle manufacturers.
The report covers a comprehensive study of the competitive scenario of the Automotive Voice Recognition Market Status and the current trends that are predicted to disrupt the market. It identifies dynamic players of the market, including both the major and emerging players. The report contains the companies in the market share review to offer a more extensive overview of the key market players. Moreover, the report also comprises noteworthy strategic developments of the market such as new product launch, partnerships, agreements, research & development collaborations & joint ventures, acquisitions & mergers, and growth of most important market players on a global and regional basis.
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