Global Automotive Voice Control System Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 – 2025

Published - Aug 2018 | Category - Automobile & Transportation | No. of Pages - 95 | Published By - ARC

Introduction

During last few years, discovery of artificial intelligence has led to the introduction of new and advanced technology. Voice recognition technology is primarily focused only on infotainment use cases. In 1972, the first commercial automatic speech recognition (ASR) product was the “VIP-100” invented by the company Threshold Technology Inc. A number of Original Equipment Manufacturers (OEMs) and major manufacturers are significantly investing in biometric and machine learning technologies to expand their market. Currently, some of the most important companies operating in the speech-recognition related services or devices are Nuance, Microsoft, Google and Apple.

Market Dynamics

The global automotive voice control market is majorly driven by increasing demand for luxurious vehicles, increasing trend of connected vehicles and level of autonomous driving, and increasing per capita income. According to the International Organization of Motor Vehicle Manufacturers, in 2017, over 96 million automotive vehicles were manufactured across the globe. Integration of artificial intelligence into automotive vehicles, technological advancements in these electronic devices have fuelled the growth of the market

Additionally, huge benefits offered by the voice recognition technology, development of autonomous and electric vehicles, increasing expenditure of people across the globe, and advancement in technology have fuelled the growth of the market.

However, integration of the voice and speech recognition system and its cost of replacement is too high which is not affordable to the people in developing economic. High cost of replacement and oligopoly in the development of voice recognition technology may slow the growth of the market.


 

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