Global Automotive Voice Recognition System Market Size study & Forecast, by Vehicle Type (IC Engine, Electric) by Vehicle Price (Economy Vehicles, Mid-Priced Vehicles, Luxury Vehicles) and Regional Analysis, 2022-2029

Description

List of Tables

Global Automotive Voice Recognition System Market is valued at approximately USD 2.01 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.07% over the forecast period 2022-2029. Automotive voice recognition systems are software applications and hardware components installed in cars that decode human speech to provide hands-free communications to reduce or eliminate driver distraction while operating the vehicle. The human voice is used to operate voice recognition systems in automobiles, allowing drivers to perform repetitive, boring tasks like turning on the air conditioning simply by speaking commands, as opposed to physically taking their hands off the wheel. The number of accidents caused by driver error has been seen to decrease significantly as a result of the use of automotive voice recognition systems. The increase in the trend of connected vehicles, the rapid development of the automotive sector, coupled with the rising use of the smartphone environment in cars are the key factors attributing to the market growth around the world.

Additionally, the global market expansion is significantly influenced by the rising production and sales of automobiles. According to Statista, the global car manufacturing industry is expected to generate revenues of over USD 2.5 billion in 2020, which are projected to increase to almost USD 2.8 billion in 2022. As a result, the strong growth of the automotive sector is directly related to the demand for automotive voice recognition systems, which in turn spurs the market's expansion during the estimated years. Moreover, the rising development of infotainment and technology services, as well as the growing focus on automobiles equipped with the latest connectivity and AI features are presenting various lucrative opportunities over the forecasting years. However, the high cost of premium voice recognition systems is challenging the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Automotive Voice Recognition System Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the increasing technological developments in voice recognition, along with the rising penetration of the internet and increased demand for internet connectivity. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rise in the trend of connected vehicles, huge demand for hand-free technology, and growth of the automotive sector in the market space.

Major market players included in this report are:

Microsoft Corporation
Apple Inc.
Lumenvox
iNAGO Inc.
Alphabet Inc.
Harman Corporation
Nuance Communications Inc.
Sensory Inc.
Daimler AG
VoiceBox

Recent Developments in the Market:

In September 2022, Dongfeng Forthing announced the introduction of the T5 SUV's Mach variant to China. Some of the model's variations come with a sunroof that can be opened, a 12.4-inch central infotainment panel, and voice recognition technology.
In August 2022, Cerence Inc. and Microsoft Corp. declared that the companies entered into a collaborative agreement to use Cerence's voice recognition capabilities in the cars to access all of Microsoft's offerings, including Microsoft Teams. Both companies work together to market this new solution to automakers that want to include the newest speech recognition technology in their next models.

Global Automotive Voice Recognition System Market Report Scope:

Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Vehicle Type, Vehicle Price, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.

By Vehicle Type:

IC Engine
Electric

By Vehicle Price:

Economy Vehicles
Mid-Priced Vehicles
Luxury Vehicles

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Automotive Voice Recognition System Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Automotive Voice Recognition System Market, by Vehicle Type, 2019-2029 (USD Billion)
- 1.2.3. Automotive Voice Recognition System Market, by Vehicle Price, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Automotive Voice Recognition System Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Automotive Voice Recognition System Market Dynamics

3.1. Automotive Voice Recognition System Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
  - 3.1.1.1. Increase in the trend of connected vehicles
  - 3.1.1.2. Rising use of smartphone environment in cars
- 3.1.2. Market Challenges
  - 3.1.2.1. High cost of premium voice recognition system
- 3.1.3. Market Opportunities
  - 3.1.3.1. Rising development of infotainment and technology services
  - 3.1.3.2. Growing focus on automobiles equipped with the latest connectivity and AI features

Chapter 4. Global Automotive Voice Recognition System Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Risk Assessment: COVID-19 Impact

5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario

Chapter 6. Global Automotive Voice Recognition System Market, by Vehicle Type

6.1. Market Snapshot
6.2. Global Automotive Voice Recognition System Market by Vehicle Type, Performance - Potential Analysis
6.3. Global Automotive Voice Recognition System Market Estimates & Forecasts by Vehicle Type 2019-2029 (USD Billion)
6.4. Automotive Voice Recognition System Market, Sub Segment Analysis
- 6.4.1. IC Engine
- 6.4.2. Electric

Chapter 7. Global Automotive Voice Recognition System Market, by Vehicle Price

7.1. Market Snapshot
7.2. Global Automotive Voice Recognition System Market by Vehicle Price, Performance - Potential Analysis
7.3. Global Automotive Voice Recognition System Market Estimates & Forecasts by Vehicle Price 2019-2029 (USD Billion)
7.4. Automotive Voice Recognition System Market, Sub Segment Analysis
- 7.4.1. Economy Vehicles
- 7.4.2. Mid-Priced Vehicles
- 7.4.3. Luxury Vehicles

Chapter 8. Global Automotive Voice Recognition System Market, Regional Analysis

8.1. Automotive Voice Recognition System Market, Regional Market Snapshot
8.2. North America Automotive Voice Recognition System Market
- 8.2.1. U.S. Automotive Voice Recognition System Market
  - 8.2.1.1. Vehicle Type breakdown estimates & forecasts, 2019-2029
  - 8.2.1.2. Vehicle Price breakdown estimates & forecasts, 2019-2029
- 8.2.2. Canada Automotive Voice Recognition System Market
8.3. Europe Automotive Voice Recognition System Market Snapshot
- 8.3.1. U.K. Automotive Voice Recognition System Market
- 8.3.2. Germany Automotive Voice Recognition System Market
- 8.3.3. France Automotive Voice Recognition System Market
- 8.3.4. Spain Automotive Voice Recognition System Market
- 8.3.5. Italy Automotive Voice Recognition System Market
- 8.3.6. Rest of Europe Automotive Voice Recognition System Market
8.4. Asia-Pacific Automotive Voice Recognition System Market Snapshot
- 8.4.1. China Automotive Voice Recognition System Market
- 8.4.2. India Automotive Voice Recognition System Market
- 8.4.3. Japan Automotive Voice Recognition System Market
- 8.4.4. Australia Automotive Voice Recognition System Market
- 8.4.5. South Korea Automotive Voice Recognition System Market
- 8.4.6. Rest of Asia Pacific Automotive Voice Recognition System Market
8.5. Latin America Automotive Voice Recognition System Market Snapshot
- 8.5.1. Brazil Automotive Voice Recognition System Market
- 8.5.2. Mexico Automotive Voice Recognition System Market
- 8.5.3. Rest of Latin America Automotive Voice Recognition System Market
8.6. Rest of The World Automotive Voice Recognition System Market

Chapter 9. Competitive Intelligence

9.1. Top Market Strategies
9.2. Company Profiles
- 9.2.1. Microsoft Corporation
  - 9.2.1.1. Key Information
  - 9.2.1.2. Overview
  - 9.2.1.3. Financial (Subject to Data Availability)
  - 9.2.1.4. Product Summary
  - 9.2.1.5. Recent Developments
- 9.2.2. Apple Inc.
- 9.2.3. Lumenvox
- 9.2.4. iNAGO Inc.
- 9.2.5. Alphabet Inc.
- 9.2.6. Harman Corporation
- 9.2.7. Nuance Communications Inc.
- 9.2.8. Sensory Inc.
- 9.2.9. Daimler AG
- 9.2.10. VoiceBox

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Automotive Voice Recognition System Market, report scope
TABLE 2. Global Automotive Voice Recognition System Market estimates & forecasts by Region 2019-2029 (USD Billion)
TABLE 3. Global Automotive Voice Recognition System Market estimates & forecasts by Vehicle Type 2019-2029 (USD Billion)
TABLE 4. Global Automotive Voice Recognition System Market estimates & forecasts by Vehicle Price 2019-2029 (USD Billion)
TABLE 5. Global Automotive Voice Recognition System Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 6. Global Automotive Voice Recognition System Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 7. Global Automotive Voice Recognition System Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 8. Global Automotive Voice Recognition System Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 9. Global Automotive Voice Recognition System Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 10. Global Automotive Voice Recognition System Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 11. Global Automotive Voice Recognition System Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 12. Global Automotive Voice Recognition System Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 13. Global Automotive Voice Recognition System Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 14. Global Automotive Voice Recognition System Market by region, estimates & forecasts, 2019-2029 (USD Billion)
TABLE 15. U.S. Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 16. U.S. Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 17. U.S. Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 18. Canada Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 19. Canada Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 20. Canada Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 21. UK Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 22. UK Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 23. UK Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 24. Germany Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 25. Germany Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 26. Germany Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 27. France Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 28. France Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 29. France Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 30. Italy Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 31. Italy Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 32. Italy Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 33. Spain Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 34. Spain Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 35. Spain Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 36. RoE Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 37. RoE Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 38. RoE Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 39. China Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 40. China Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 41. China Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 42. India Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 43. India Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 44. India Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 45. Japan Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 46. Japan Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 47. Japan Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 48. South Korea Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 49. South Korea Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 50. South Korea Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 51. Australia Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 52. Australia Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 53. Australia Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 54. RoAPAC Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 55. RoAPAC Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 56. RoAPAC Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 57. Brazil Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 58. Brazil Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 59. Brazil Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 60. Mexico Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 61. Mexico Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 62. Mexico Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 63. RoLA Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 64. RoLA Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 65. RoLA Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 66. Row Automotive Voice Recognition System Market estimates & forecasts, 2019-2029 (USD Billion)
TABLE 67. Row Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 68. Row Automotive Voice Recognition System Market estimates & forecasts by segment 2019-2029 (USD Billion)
TABLE 69. List of secondary sources, used in the study of global Automotive Voice Recognition System Market
TABLE 70. List of primary sources, used in the study of global Automotive Voice Recognition System Market
TABLE 71. Years considered for the study
TABLE 72. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

List of figures

FIG 1. Global Automotive Voice Recognition System Market, research methodology
FIG 2. Global Automotive Voice Recognition System Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Automotive Voice Recognition System Market, key trends 2021
FIG 5. Global Automotive Voice Recognition System Market, growth prospects 2022-2029
FIG 6. Global Automotive Voice Recognition System Market, porters 5 force model
FIG 7. Global Automotive Voice Recognition System Market, pest analysis
FIG 8. Global Automotive Voice Recognition System Market, value chain analysis
FIG 9. Global Automotive Voice Recognition System Market by segment, 2019 & 2029 (USD Billion)
FIG 10. Global Automotive Voice Recognition System Market by segment, 2019 & 2029 (USD Billion)
FIG 11. Global Automotive Voice Recognition System Market by segment, 2019 & 2029 (USD Billion)
FIG 12. Global Automotive Voice Recognition System Market by segment, 2019 & 2029 (USD Billion)
FIG 13. Global Automotive Voice Recognition System Market by segment, 2019 & 2029 (USD Billion)
FIG 14. Global Automotive Voice Recognition System Market, regional snapshot 2019 & 2029
FIG 15. North America Automotive Voice Recognition System Market 2019 & 2029 (USD Billion)
FIG 16. Europe Automotive Voice Recognition System Market 2019 & 2029 (USD Billion)
FIG 17. Asia pacific Automotive Voice Recognition System Market 2019 & 2029 (USD Billion)
FIG 18. Latin America Automotive Voice Recognition System Market 2019 & 2029 (USD Billion)
FIG 19. Global Automotive Voice Recognition System Market, company Market share analysis (2021)