Scope of the Study
Voice recognition is the process of taking the spoken word as an input to a computer program. In vehicles the technology recognises whether the person has the right to entry. This type of system is also used in other features such as multimedia in the vehicle. This increases the security level in the vehicle which includes electric, automatic and other types. Furthermore, the voice recognition uses technology based on artificial intelligence and non-artificial intelligence.
The market study is being classified and major geographies with country level break-up.
Alphabet Inc. (United States), Apple Inc. (United States), Nuance Communications Inc. (United States), Microsoft (United States), Harman International (United States), BMW AG (Germany), Speechmatics (United Kingdom), Sensory, Inc. (United States), ReadSpeaker Holdings B.V. (Netherlands), Pareteum (United States), Daimler AG (Germany) and Ford Motor (United States) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Voice Recognition Vehicle Access market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Voice Recognition Vehicle Access market by Type, Application and Region.
On the basis of geography, the market of Voice Recognition Vehicle Access has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Demand for Safety Features in Automobiles
- Evolution of Voice Recognition System for Integrated Assistant System
- Growing Safety Awareness Among the People
- High Costs Associated with High End Voice Recognition Systems
- Development of Automatic and Electric Vehicles is Boosting the Growth
- Growing Demand of Personalization and Prioritising Comfort
- Presence of Major Players are Increasing the Market Growth
Market Leaders and their expansionary development strategies
On June 2020, Microsoft acquires ADRM Software which is a leading provider of large-scale industry data models, which are used by large companies worldwide as information blueprints.
On June 2020, Cerence Inc. has announced that Ford Motor Company has selected the company’s Cerence Drive products to bring advanced, conversational AI and voice recognition to the Ford SYNC 4 communications and entertainment system.
Key Target AudienceAutomobile industry, Technology providers, Government associations, Research organisations, Software vendors and Others
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