The automotive voice command systems market will reach $8.681 billion by 2031 at a CAGR of 20.25%, according to Dive Research
The global market for automotive voice control systems is expected to grow by 2031 due to the adoption of digital technologies in the automotive sector. The ice sub-segment is expected to be the most dominant. The market in the North American region is very profitable.
Dive Research has added a new report offering titled “Automotive Voice Command System Market By Technology (Embedded and Other), Application (AI and Non-AI), Vehicle Type (ICE and BEV), and Regional Analysis (North America). Europe, Asia -Pacific and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031”.
According to the report, the global automotive voice control system market is projected to record a revenue of $8,681.8 million by 2031, with a healthy annual growth rate of 20.25% during the forecast period 2022-2031.
Automotive Voice Control System Overview
In-car voice command systems use the concept of voice recognition technology. This technology is becoming very popular among people all over the world. Various advances in speech recognition algorithms are being made with the safety of users while they are mentally active. Several studies show that driver distraction levels are much higher when using touch devices compared to voice command systems.
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Access the complete PDF sample of the automotive voice command system market
The impact of Covid-19 on the market
With the onset of the Covid-19 pandemic, various governments around the world have imposed strict lockdowns and travel restrictions. They negatively affected various industries and business disruptions such as supply chains and manufacturing processes. These factors have played a major role in slowing down the growth of the automobile manufacturing market. This decline, in turn, affected the automotive voice control system market, which was also in a similar situation.
Automotive Voice Control System Market Segments
In June 2022, DMI, a digital technology service provider, announced that it is partnering with Sound Hound, a leading artificial intelligence (AI) company. This collaboration aims to develop voice recognition artificial intelligence for various cars. This partnership is expected to help both companies integrate their resources to achieve the goal in the shortest possible time.
Granular research into specific regions or segments of the Automotive Voice Control System market and availability of 10% off
The report also includes a number of critical insights, including financial market players, SWOT analyses, product portfolios, and the latest strategic developments.
More Information About Automotive Voice Command System Market:
High installation cost of automotive voice control system is restricting the market growth
Car manufacturers are constantly improving voice command systems in their vehicles to provide users with ease of use and a more luxurious in-car experience. Now, the system is usually installed in luxury cars and at a very low price in the mid-range and low-end cars because of the high level of installation. In developed countries, the demand for cars is mainly in the middle and low price range, because most people in the middle class income group are attracted to cars in the middle and low price range. These factors are anticipated to hamper the automotive voice command system market opportunity during the forecast period.
Intelligent biometric voice command motorcycles are expected to create excellent opportunities in the global market
Motorcycle manufacturers can also develop voice command systems for the bike due to the increasing popularity of the systems among people. The voice command system allows to optimize the use of the motorcycle and driver assistance technology in real time. For example, Kawasaki Motors is developing a voice command system for motorcycles that uses AI technology. The system will allow riders to control motorcycles using their voice commands. There is also an increase in chassis innovations consisting of a voice module that can be converted into an indicator, horn, headlines and even an ignition system. All these factors are anticipated to create huge opportunities for key players operating in the automotive audio system industry.
The ice sub-segment is expected to have a dominant market share and generate substantial revenues by 2031, increased sales, production and adoption of vehicles in various countries. Furthermore, an increase in disposable income coupled with increased urbanization and an increase in the need for private exchange is anticipated to fuel the growth of the ice cream sub-segment. Even manufacturers used voice systems in ICE vehicles long before BEVs were introduced to the market.
The BEV sub-segment is anticipated will be the fastest growing sub-segment in the forecast period. Sales will increase significantly in 2021 and remain strong until 2022. The increase in BEV sales can be attributed to the rise in global warming concerns, strong government and corporate initiatives to reduce carbon emissions, a greenhouse gas around the world. In addition, the push for accessible rolling stock charging infrastructure and various greener vehicle incentives through government purchase programs has increased BEV adoption among the population.
Some trend reports:
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Thus, the automotive voice systems bidding market will enter $8,681 billion by 2031 at a CAGR of 20.25%.
