The Automotive Voice Recognition System Global Market Report 2023, provides comprehensive information on the automotive voice recognition system market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Automotive Voice Recognition System Market’s Growth:
The global automotive voice recognition system market is expected to grow from $2.17 billion in 2022 to $2.51 billion in 2023 at a compound annual growth rate (CAGR) of 15.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive voice recognition system market is expected to reach $4.23 billion in 2027 at a CAGR of 13.9%.
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Technological advancement is the key trend gaining popularity in the automotive voice recognition system market. Major companies operating in the automotive voice recognition system market are focusing on developing new technologies to sustain their position in the market. For instance, in April 2023, SoundHound AI Inc., a US-based developer of speech recognition, voice AI, natural language understanding, sound recognition, and search technologies, launched SoundHound Chat AI for automotive. It is the first product it enables the creation of an in-car voice assistant that combines generative AI capabilities, like ChatGPT, with a best-in-class voice assistant. Any third-party generative AI model can be integrated with SoundHound Chat AI to provide a fluid conversational experience. The platform can maintain dialogue by responding to queries quickly and accurately without producing unsatisfactory and repeated outcomes.
The automotive voice recognition system market is segmented:
1) By Level Of Autonomous: Autonomous, Conventional, Semi-Autonomous
2) By Technology: Embedded, Cloud-Based, Hybrid
3) By Fuel Type: Internal Combustion Engine (ICE), Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), Plug-In Electric Vehicles (PEV)
4) By Application: Artificial Intelligence, Non-Artificial Intelligence
5) By End User: Economy Vehicles, Mid-Priced Vehicles, Luxury Vehicles
North America was the largest region in the automotive voice recognition system market in 2022.
The table of contents in TBRC’s ai-powered storage market report includes:
1. Executive Summary
2. Automotive Voice Recognition System Market Characteristics
3. Automotive Voice Recognition System Market Trends And Strategies
4. Automotive Voice Recognition System Market – Macro Economic Scenario
5. Impact Of High Inflation On Online Therapy Services Market
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32. Global Automotive Voice Recognition System Market Competitive Benchmarking
33. Global Automotive Voice Recognition System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Voice Recognition System Market
35. Automotive Voice Recognition System Market Future Outlook and Potential Analysis
36. Appendix
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