The goal of in-car speech recognition technology is to make using a phone while driving a distraction-free experience. Instead, a heads-up display allows drivers to keep their eyes on the road and their attention on safety. Many developments in voice recognition have been motivated by the necessity to keep the public safe while simultaneously embracing a device-dependent culture. In-car voice recognition technologies are now nearly a given in the majority of the newest cars available on the market.This growth is primarily driven by Growing Lifestyle of People in the Developing Economies
|Value Unit||USD (Million)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
The Technology sector in the region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region.
Major Players, such as Verizon (United States)Apple, Apple (United States), IBM (United States), Alphabet (Google LLC) (United States), Nuance (United States), Amazon Web Services (United States), LumenVox (United States), Sensory, Inc. (United States) and Audio Analytic (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 12th April 2021, Microsoft buys speech recognition company Nuance in a USD16B deal. Nuance has a strong reputation for its voice recognition technology, and it has been considered an acquisition target for companies like Apple, Microsoft, and more for several years.
On 7th July 2021, Sensory Inc. announced the integration of its TrulyNatural embedded speech recognition software within the latest public beta release of Zoom Rooms for Android, iOS, MacOS, and Windows. Powered by Sensory, voice commands are now supported on all Zoom Rooms platforms.The players are focusing on investing more in Launching New Technologies. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Irreversible Trend of the Driverless Vehicles and Advancement and Introduction of Innovative Technologies
Market Growth Drivers:
Growing Lifestyle of People in the Developing Economies and Increasing Demand for User-Friendly Features in Vehicles for Safety
Problem with Speech Recognition Response Timing
Risk of Data Theft and Other Cyber Privacy Related Issues
Continuous Research and Development in the In Car Speech Recognition and Vehicles are now Becoming a New Form of Smart Device that will Lead the Current Technology
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of In Car Speech Recognition Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of In Car Speech Recognition Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of In Car Speech Recognition players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, In Car Speech Recognition Study Sheds Light on
The In Car Speech Recognition Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the In Car Speech Recognition industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where In Car Speech Recognition industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.