Automotive Digital Voice Assistants Market :Introduction
Digital assistant is an improvised computer program that uses advanced artificial intelligence (AI), natural language processing, natural language understanding, and Machine Learning (ML) to learn as they imitate a conversation with people who use it traditionally over the internet to offer a personalized, conversational experience.
Automotive smart assistant provides a smooth driving experience by offering general and OTT services such as navigation, making calls, appointment booking, parking area information, entertainment services and many more which is a thickening accelerating factor of this market.
Modern vehicles are equipped with voice assistants to help drivers with vehicle-centric tasks and to respond to events in the car, from the cloud and from the outside environment.
Consumers will soon expect access to their preferred home and mobile assistants while in their vehicles.
Automakers need to meet such expanding expectations of their customers, while still maintaining control over their brand, user experience and quality of products and services. Speech and the Digital Assistant are a major part of this.
Global Automotive Digital Voice Assistant Market: Overview
The global automotive digital voice assistants market was worth USD 11.2 Billion in 2022 and is poised to register a CAGR of 31.2%, thereby accumulating a valuation of USD 30.74 Billion by 2030.
The market growth is majorly driven by the factors including technological development and increasing investments in Artificial Intelligence (AI) & Machine Learning (ML) and growing adoption of IoT.
Additionally, in-vehicle smart assistant systems can be integrated into other ecosystems such as home automation, smart-phones, tablets, computers, laptops and others and increases the security level.
These features are set to boost the growth of automotive smart assistant industry. Various car makers including Audi, BMW, Hyundai, Toyota, Honda, Nissan, Ford and others have incorporated intelligent virtual assistant technology into their vehicles.
Apart from this, the high investments and growing demand of driverless vehicles plays a major role in the growth of automotive smart assistant market size.
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Competitive Landscape:
- Continental AG
- Google, LLC
- Apple Inc.
- com, Inc.
- BMW AG
- IBM Corporation
- Groupe PSA
- Alibaba Group Holding Limited
- Microsoft Corporation
Segmental analysis of global automotive digital voice assistant market:
Based on Technology
- Embedded
- Cloud-based
- Hybrid
Based on Application
- AI
- Non-AI
The AI segment accounts for the largest revenue share. AI is also considered to be the fastest-growing segment during the forecast period. The car manufacturers were one of the early adopters of the AI based voice recognition systems. This can be attributed to the increased demand and adoption of the virtual voice assistants like Siri and Alexa.
Based on Vehicle Type
- ICE
- BEV
The ICE segment dominates the global automotive voice recognition system market in terms of revenue. This is attributed to the increased production, sales, and adoption of the ICE vehicles throughout the world.
Based on Region
NORTH AMERICA (Canada, US), EUROPE (Spain, UK, Germany, Italy, France), ASIA-PACIFIC (India, China, Thailand, Japan, South Korea), LATIN AMERICA (Colombia, Brazil, Mexico, Argentina), MIDDLE EAST & AFRICA (UAE, Saudi Arabia, South Africa)
North America dominated the global automotive voice recognition system market, in terms of revenue and is anticipated to sustain its dominance during the forecast period. The increased disposable income, rising demand for luxury products, evolving command for the personal vehicles owing to the low availability of public transport, and evolving of the latest technologies in the region are the major factors that fuelled the demand for the automotive voice recognition system
Major Developments:
In November 2020, Chinese e-commerce giant Alibaba Group joined hands with German based premium carmaker Audi in order to provide a better navigation and digital assistant system that can satisfy the demands of Chinese customers by improvising the level of in car applications. To improve the connectivity among vehicles and homes, this platform will also introduce in-car smart assistant Tmall Genie.
In July 2019, German based company, Continental AG had pioneered a smart voice assistant for vehicles. According to the Company’s press release, this smart voice assistant is specifically designed for cars. This product is a hybrid solution with a cloud connection which helps the driver and the vehicle to communicate with each other even in dead spots. It understands multiple questions in one sentence and can detect logical connections.
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Major questions answered in the report:
- Which region is accounted for the largest revenue share in the global automotive digital voice assistants market?
- Which top profiles are contributing in the growth of global automotive digital voice assistants market?
- What are the major growth contributors, trends and challenges in the global automotive digital voice assistants market?
Key Takeaways from the report:
- Deep-insights on regional analysis along with other segmental analysis.
- Growth determinants, trends and challenges in the market.
- The global automotive digital voice assistants market was worth USD 11.2 Billion in 2022 and is poised to register a CAGR of 31.2%, thereby accumulating a valuation of USD 30.74 Billion by 2030.
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