Voice Recognition System Market: 2018 Global Industry Analysis Research Report With Forecast To 2023

Market Research Future published research report on Global Voice Recognition System Market 2018 - Forecast to 2023, provides detailed Voice Recognition System Market Analysis, Scope, Stake, Progress, Trends and Size, Share, Opportunity, and Regional Forecast. Voice Recognition System Market is to expand at the highest growth rate by 2023.

Voice Recognition System Market Highlights:

The market for voice recognition for automotive systems is expected to grow with an increase in demand for automobiles, majorly in North America. There is an immense demand of commercial vehicles in the United States. With the increase in demand for commercial vehicles there has been an increase in demand for Voice Recognition System Market for Automotive. The growth of the North America region is due to the presence of major automotive system manufacturers, which are mainly focusing on key developments such as expansion, mergers & acquisition, product launch and others. Moreover, spending considerable time in Vehicles by the people generates the need for adoption of advanced technologies, such as Voice Recognition System Market for Automotive systems. Owing to all these factors, the growth of the region is expected to grow at a rapid pace.

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Voice Recognition System Market Competitive Analysis:

The key players of global Voice Recognition System Market for Automotive are Nuance (US), Microsoft (US), Alphabet (US), Harman (US), Apple (US), BMW (Germany), Daimler (Germany), and Ford (US). In 2016, these companies accounted for a share of XX% of the global market.

Market Drivers:

Voice recognition system market for automotive has been witnessing steady growth over a period of time. The evolution of VR systems to integrated assistant systems is a key factor that is expected to aid in this market growth over the coming years. Increasing demand for safety features in automobiles, stringent government norms and rapidly rising safety awareness among individuals are some of the factors, primarily, driving the voice recognition system market for automotive.  Additionally with consumers, increasingly, demanding personalization and prioritizing comfort the market for voice recognition system in automotive is expected to register high growth rate. With the New Car Assessments Program awarding safety ratings based on vehicles safety performance, automotive manufacturers have been increasingly integrating voice recognition system for Automotive in vehicles.  Voice recognition system was available only in premium vehicles. However, automobile manufacturers have started integrating these features in entry level vehicles to broaden their customer base, thus propelling the market demand.

Market Segmentation: By Vehicle Type (Passenger Vehicle and Commercial Vehicle) Technology (Embedded and Hybrid), Application (AI and Non-AI) and by Regions.

Regional Analysis:

The market for voice recognition for automotive systems is expected to grow with an increase in demand for automobiles, majorly in North America. There is an immense demand of commercial vehicles in the United States. With the increase in demand for commercial vehicles there has been an increase in demand for Voice Recognition System Market for Automotive. The growth of the North America region is due to the presence of major automotive system manufacturers, which are mainly focusing on key developments such as expansion, mergers & acquisition, product launch and others. Moreover, spending considerable time in Vehicles by the people generates the need for adoption of advanced technologies, such as Voice Recognition System Market for Automotive systems. Owing to all these factors, the growth of the region is expected to grow at a rapid pace.

Asia Pacific market for voice recognition for automotive is one of the other leading markets in voice recognition for the automotive market. The market has been experiencing rapid growth in the last two years owing to the rising sales of passenger cars, emerging economies, shifting of global players and technological advancements. Another major reason behind APAC leading, globally, is that the countries within this region were able to sustain their economies during the global economic crisis of 2008-09.  They are capable of showcasing continued growth in automobile production and sales, across the globe. Rising purchasing power of individuals in the Asia Pacific region also welcomes the increase in demand of the market.  There has been a significant influx of technology in the Asia Pacific region. Still, the lack of major market players, and underdeveloped automotive infrastructure have resulted in alienating certain geographies, particularly the African and Middle East region.

Major Table Of Content:

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers

3.1.3 Threat Of Substitutes

3.1.4 Segment Rivalry

3.1.5 Bargaining Power Of Buyers

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

Continued…

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