Automotive Voice and Speech Recognition Market Size & Share - Industry Trend and Forecast 2018 - 2026

The report analyzes and presents an overview of "Automotive Voice and Speech Recognition Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026" worldwide.

The main objective of this report is to define, describe, and forecast the global “Automotive Voice and Speech Recognition” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.

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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. 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).

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.

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.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market

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