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 end of the assessment timeframe.
An automobile digital voice assistant is outfitted with voice recognition, artificial intelligence (AI), and machine learning (ML) technology, allowing it to receive instructions from humans and carry out the activities specified. It is often built into cars to give drivers a productive and secure hands-free experience. With the development of technology, voice assistants for cars are now utilised to make phone calls, order takeout, organise appointments, and book services.
Additionally, the market dynamics are being positively influenced by the rising popularity of connected devices and the increasing efforts of car manufacturers to integrate novel technology in their automobile line.
In addition, the business is finding profitable prospects to grow thanks to the increased demand for smart gadgets, economic improvements in important countries, and increasing R&D expenditures.
However, growing worries about voice assistant problems are limiting this industry’s potential for compensation.
The COVID-19 pandemic’s indignation also had a detrimental effect on the expansion of the market as a whole. Vehicle sales decreased across key economies due to global manufacturing activity suspension and supply chain disruptions. The development of the market was subsequently limited by this.
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Global Automotive Digital Voice Assistants Market: Segmentations
By Key Players
- Apple Inc.
- Artificial Solutions
- Baidu
- BMW AG
- Cerence
- Cisco System, Inc.
- Continental AG
- Dialogflow
- Ford
- Garmin
- Google, LLC
- Hyundai
- HARMAN International
- IBM
- Kardome Technologies Ltd.
- Linglong
- Mobvoi
- Nuance
- Robin Labs
- Roav
- Saltlux
- Samsung electronics
- Sherpa
- SoundHound
- Tesla
- VW
By Type:
- Integrated
- Plug-in
By Processing:
- Embedded
- Cloud-based
- Hybrid
By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
By Vehicle Powertrain Type:
- ICE Vehicles
- Electric Vehicles
- Hybrid Vehicles
By Technology:
- AI
- Non-AI
By Sales Channel:
- OEMs
- After-market
By Service Type:
- General Services
- OTT Services
- Hybrid
Geographical landscape
The major regions defining the geographical terrain of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, North America is projected to expand with a substantial CAGR. This is attributable to the increasing per capita income of individuals, rise in vehicle sales, and presence of prominent vendors.
Key Trends
- Advancements in the field of artificial intelligence to augment industry outlook:
There has been a widespread evolution in the field of artificial intelligence. With the integration of machine learning, voice assistants have been equipped with the ability to process complex queries and predict the navigation related requirements of the users. These assistants use the AI technology to provide customers with accurate information in real time. This is adding momentum to the market progression.
- Rising disposable income levels of the masses to aid market expansion:
With rapid economic developments, there has been a robust increase in disposable income of the masses across the globe. This in turn has given rise to their purchasing power, thereby boosting the sales of vehicles integrated with digital voice assistants which are generally known to be costly in nature. These factors are stimulating the overall dynamics of this market sphere.
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years’ data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
- The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
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Frequently Asked Questions
- What is the current size of this market?
- According to Precedence Research, this market size was reached at USD 2 billion in 2021 and projected to hit USD 7.9 billion by 2030.
- What is the CAGR of this market?
- Which are the driving factors of this market?
- Who are the major players operating in this market?
- Which region will lead this market?
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