Growth of Automotive Voice and Speech Recognition Market Projected to Amplify During 2017-2025

Speech recognition is the capability of a program or a machine to receive and execute commands that are spoken to it. The technology pools know-hows of a variety of fields such as linguistics, electrical engineering and computer science to produce technologies and methodologies that empower the recognition as well as the translation of spoken language into text by computerized systems. The capacity of an automotive voice-recognition system’s database is directly proportional to the RAM capacity of the installed computer in the vehicle. A speech-recognition program executes itself many folds faster in cases where the entire vocabulary is uploaded onto RAM, when compared to probing the hard drive for proper matches.

The global automotive voice and speech recognition market is poised to grow at a significant CAGR over the forecast period. One of the key reasons for the growth of this market is the growing importance on road safety and reduction of distraction during driving. Moreover, the National Highway Traffic Safety Administration or NHTSA guidelines related to driver distraction is likely to boost the adoption of voice and speech recognition in the coming years. The guidelines show the inevitability of having VR systems, especially in the light vehicles. In the absence of this system, the driver would not be in a position to make calls when driving on the road. Based on the report by NHTSA, these systems are made to pair mobile devices along with vehicle’s displays and controls. Therefore, driving and calling could take place simultaneously. This is likely to decrease the distractions and offer ample peace of mind to the drivers while driving. Therefore, it is likely that the number of traffic violations and accidents due to driver distractions will decrease, thereby increasing road safety. As road safety becomes a vital aspect of driving owing to the increase in the number of traffic violations and road accidents, voice and speech recognition is likely to be an integrated part of vehicles in the coming years.

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In the recent past, it has been seen that many original equipment manufacturers (OEMs) have started introducing fully integrated suites such as Fiat's Blue&Me and Ford's SYNC that controls the car’s connected system by means of a set of commands. These systems are being incorporated rapidly by the automakers which will further boost the growth of the global automotive voice and speech recognition market.

The global automotive voice and speech recognition market can be segmented on the basis of end user, and geography. By end user, the market can be bifurcated into OEMs and aftermarket. The OEMs segment accounted for the maximum share of the global automotive voice and speech recognition market owing to the growing adoption of these systems by the OEMs and technological advancements taking place in this field.

On the basis of geography, the global automotive voice and speech recognition market is divided into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. North America accounted for the major share of the market in 2016. Some of the factors that has resulted in the dominance of this region are rising government support as well as rising consumer confidence. Asia Pacific is likely to grow at the maximum pace during the forecast period. China, Japan, and India are likely to be the major contributors towards the impressive growth of the market in this region. High production rates and increasing demand for technologically advanced vehicles in the region are some of the factors that are likely to fuel the growth of the market in the Asia Pacific region.

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The major players operating in the global automotive voice and speech recognition market are Apple, Ford, Mercedes-Benz, Nuance Communications, Harman, Microsoft, Voicebox Technologies, and VocalZoom, among others.

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