The voice recognition system market for automotive is projected to grow at a CAGR of 19.41% during the forecast period, to reach USD 3,890.3 million by 2025. The key growth drivers for the market are the integration of technology to support centralized function and the increasing demand for premium segment vehicles.
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New product development is the key strategy adopted by major players to gain traction in the voice recognition system market for automotive. In June 2017, Nuance introduced the “Dragon Drive Artificial Intelligence Platform” a technology platform for connected cars. This platform can provide virtual assistance to all the occupants of the vehicle through its extended cognitive abilities. This platform enables the user to access music, navigation, and other features just by voice commands without pressing a button. This feature also helps the user to personalize in-car infotainment specifications by a voice command. In August 2017, Alphabet introduced a speech recognition system which can recognize the dictated message instead of the typed one. This technology recognizes the dictated message in 30 new languages, increasing the total number of languages understood by the speech recognition system to 119. The technology has effective applications in the in-car experience to prevent the drivers from distraction.
The second most widely followed strategy by market players is partnerships, supply contracts, collaborations, and joint ventures. In 2017, Nuance (US) entered into a contract with Audi (Germany) to supply its conversational Dragon Drive technology. With this development, Audi will install the technology in its new A8 model. The Dragon Drive technology uses cloud-based services for natural language understanding, Text-to- Speech (TTS), and speech recognition functions. This technology enables real-time conversation between the car assistant and driver, thereby enhancing the driving experience.
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Nuance (US) is one of the key players in the voice recognition system market for automotive. The company is primarily engaged in the field of machine learning and innovating technologies to link humans and machines. The company offers speech solutions that support up to 80 different languages and holds more than 4,300 patents. The company’s major customers include leading OEMs in the automotive industry, such as Audi (Germany), BMW (Germany), General Motors (US), Chrysler (US), Ford Motors (US), Hyundai (South Korea), and Toyota (Japan).
Key Players:
The ecosystem of the automotive voice recognition system market consists of voice recognition system manufacturers such as Nuance (US), Microsoft (US), Alphabet (US), Harman (US), and Apple (US). The voice recognition systems are supplied to automotive OEMs such as BMW (Germany), Daimler (Germany), and Ford (US).
Target Audience
- Automotive voice recognition system manufacturers and component suppliers
- Automotive voice recognition system manufacturers and software suppliers
- Automotive OEMs
- Industry associations and other driver assistance systems manufacturers
- Automobile industry and related end-user industries
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