Automotive Voice and Speech Recognition Market: Worldwide Industry Analysis and New Market Opportunities Explored

A voice and speech recognition system is a human-machine interface system, in which the programmed hardware accepts commands from humans and gives a specific informative reply. Speech acknowledgement is the ability of a program or a machine to receive and execute commands that are spoken to it. The technology is used in a number of fields such as linguistics, electrical engineering, and computer science to produce technologies and methodologies that enhance the recognition of the voice spoken to the machine and deliver a specific reply.

Demand for vehicles integrated with user-friendly features is increasing among consumers. Taking this into consideration, vehicle manufacturers are focusing on providing user-friendly dashboards with advanced technological features. Voice and speech recognition devices installed on dashboards of cars provide ease of access while driving a vehicle. Technological advancements in these electronic devices have augmented the use of voice and speech recognition devices in the automotive industry.

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These devices provide signals on the basis of the information provided by electronic components such as sensors and actuators. Furthermore, the ever-increasing production of vehicles and the rise in demand for light-weight and luxurious vehicles are projected to boost the automotive voice and speech recognition market during the forecast period. Additionally, development of autonomous and electric vehicles is likely to drive demand for automotive voice and speech recognition systems. Integration of the voice and speech recognition system and its replacement on the damage is a costly affair.

The voice and speech recognition market for automotive can be segmented based on vehicle, component, system, mode of vehicle operation, and geography.

Based on vehicle, the voice and speech recognition market for automotive can be classified into passenger vehicles (PVs) and commercial vehicles (CVs). Passenger vehicles include hatchbacks, sedans, multi-purpose vehicles (MPVs), and sport utility vehicles (SUVs). Commercial vehicles include lightweight commercial vehicles (LCVs) and heavy commercial vehicles (HCVs).

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In terms of component, the market for automotive voice and speech recognition system can be categorized into electronic systems (sensors, ECU), camera, and many others. A camera is used to observe and detect the visual interaction between the passenger in the vehicle and machine. Increased integration of electronic systems in the automotive industry is expected to propel the voice and speech recognition market for automotive.

Based on system, the voice and speech recognition market for automotive can be divided into software and one more. Software is programmed with the help of computers. Program is encoded for the send and receive command in the system.

In terms of mode of vehicle operation, the voice and speech recognition market for automotive can be segmented into autonomous vehicles and one more. Autonomous vehicles are self-driving vehicles in the auto-pilot mode. They use various in-built technologies, actuators, and sensors. In autonomous vehicles, control on movement is possible by using voice and speech recognition systems.

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In terms of geography, the voice and speech recognition market for automotive can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Europe accounts for a major share of the global voice and speech recognition market for automotive, owing to high adoption of voice and speech recognition systems in the automotive sector and increased production of vehicles. Countries in North America and Asia Pacific have presence of a larger number of key market players. Voice and speech recognition system in vehicles are being adopted at a rapid pace in these regions.

Some of the key players operating in the global voice and speech recognition market for automotive are Apple Inc., Nuance Communications, Inc., Microsoft Corporation, Alphabet Inc., Cantab Research Limited, Sensory, Inc., ReadSpeaker Holding B.V., Pareteum Corporation, and Ford.

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