Voice Recognition System Market for Automotive Worth 3,890.3 Million USD by 2025
PUNE, India, January 5, 2018 /PRNewswire/ --
The report "Voice Recognition System Market for Automotive by Technology (Embedded and Hybrid), Application (AI and Non-AI), End-User (Eco, Mid, and Luxury), Fuel Type (ICE and BEV), Level of Autonomous Driving, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market for Automotive is estimated to be USD 941.0 Million in 2017 and is projected to reach a market size of USD 3,890.3 Million by 2025, growing at a CAGR of 19.41% during the forecast period.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 86 market data Tables and 44 Figures spread through 148 Pages and in-depth TOC on "Voice Recognition System Market for Automotive - Global Forecast to 2025"
Early buyers will receive 10% customization on this report
The market is driven by factors such as rise in trend of connected vehicles and level of autonomous driving and integration of technology to support centralized function.
The embedded technology segment is estimated to be the fastest growing market in the Voice Recognition System Market for Automotive during the forecast period, by technology
The embedded technology segment is estimated to witness fastest growth in the voice recognition system market because of the rise in trend of connected vehicles and the growth of semi-autonomous and autonomous vehicles. The rising demand for advanced comfort and convenience features along with the advancement of in-vehicle infotainment systems has fueled the growth of Voice Recognition System Market for Automotive. Voice-enabled automotive functions help in reducing the driver distraction and enhance the comfort level in the vehicle. Voice-based features help to meet the elevated convenience standards, thereby governing the growth of voice recognition system market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=213347129
The ICE segment is estimated to be the largest market in the Voice Recognition System Market for Automotive during the forecast period, by fuel type
The ICE vehicle segment is estimated to be the largest market segment, by volume as well as value, of the Voice Recognition System Market for Automotive during the forecast period. The ICE segment is followed by others (hybrid) and BEV segment during the forecast period. The slow infrastructural development for EVs and hybrid vehicles in emerging countries has restricted the growth of these types of vehicles and has led to the largest market share for the ICE vehicle segment.
Asia Pacific to be the fastest growing regional market for Voice Recognition System Market for Automotive
Asia Pacific is projected to be the fastest growing market for Voice Recognition System Market for Automotive by 2025. The market growth in the region can be attributed to the rapidly growing automotive sector in countries such as China, Japan, South Korea, and India. Moreover, the improving lifestyle of consumers and rapid urbanization has boosted the demand for passenger vehicles. These factors are expected to trigger the growth of the voice recognition system market in the region.
Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=213347129
The key players in the Voice Recognition System Market for Automotive include Nuance (US), Microsoft (US), Alphabet (US), Apple (US), Harman (US), Sensory (US), VoiceBox (US), LumenVox (US), iNAGO (Japan), and VocalZoom (Israel).
Browse Related Reports
Automotive HMI Market by Technology (Visual and Acoustic), Product (Voice Control, Central Display, Instrument Cluster, Steering Mounted Control, HUD, RSE Display), Access, Light Duty Vehicle Type, Function, and Region - Global Forecast to 2021
Cockpit Electronics Market for Automotive by Product (HUD, Information Display, Infotainment & Navigation, Instrument Cluster, and Telematics), Type (Basic and Advanced), End Market, Fuel Type, and Region - Global Forecast to 2022
https://www.marketsandmarkets.com/Market-Reports/automotive-cockpit-electronic-market-38669396.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Blog: http://www.marketsandmarketsblog.com/market-reports/automotive-and-transportation
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
SOURCE MarketsandMarkets
Share this article