Jun 23, 2022, 09:55 EST
Shibuya-ku, Tokyo, Japan, Japan, Jun 23, 2022, 09:55 /Comserve / -- Automotive Voice Command System Market Share, Size, Growth, Opportunity and Forecast Till 2022-2031
The automotive voice command system market is expected to generate revenue of $4,985.8 million by 2026, increasing from $1,208.6 million in 2018 at a CAGR of 19.4%.
An Automotive voice command system is the fully integrated in-vehicle communications system of commercial vehicles and cars. This system provides a common interface for the electronic functions of a vehicle. Moreover, the automotive voice command system is mainly used to control advanced features such as the sat-nav, radio, and media. Increasing the adoption of technological advancements coupled with the growing influence of e-commerce in the automobile sector is projected to drive the automotive voice command system market growth.
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Also, the globally rising popularity of automotive voice recognition system is one of the key factors for the automotive voice command system market growth. In addition, auto-consumer is giving more priority to the “hands-free” voice control system, which will help to grow the demand of automotive voice command devices; ultimately, it will foster the automotive voice command system market growth. However, limitations such as poor software and dual voice, of this system are anticipated to restrain the growth of the global automotive voice command market. The rising promise of the automotive voice recognition system is highlighted by multiple established companies.
In recent years, the motor-cycle intelligent voice command is becoming very popular worldwide. This system has the ability to recognize the voice of the owner; furthermore, this voice is sent to the system in order to start or stop the engine of motorcycle. These key factors are anticipated to create huge opportunities for the automotive voice command system market growth.
Based on technology, the automotive voice command system market is categorized into embedded and hybrid. The embedded technology shall have a significant market share and it is projected to register a revenue of $2,557.7 million by 2026, increasing from $709.4 million in 2018.
Based on application, the automotive voice command system market is segmented into AI and non-AI. AI technology segment for the automotive voice command system market shall have rapid growth and it is projected to surpass $2,413.1 million, over the forecast period.
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Based on the vehicle type, the automotive voice command system market is fragmented into passenger vehicles and commercial vehicles. Passenger vehicles will have significant growth and it is projected to surpass $2,587.6 million by 2026.
The automotive voice command system market of the Asia-Pacific region has experienced immense growth and it is anticipated to rise at a healthy rate of 19.9% by generating a revenue of $1,171.7 million, during the forecast period. The automotive voice command system market of North America registered a revenue of $412.1 million in 2018, and it is anticipated to surpass $1,635.3 million over the projected period.
Some of the significant automotive voice command system players are Microsoft, Nuance Communications, Inc., Sensory Inc., Alphabet, BMW AG, Apple Inc., Daimler AG., LumenVox., Ford Motor Company, and Amazon.com, Inc.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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