DUBLIN--(BUSINESS WIRE)--The "Voice Recognition System Market for Automotive by Technology (Embedded and Hybrid), Application (AI and Non-AI), End-User (Eco, Mid, and Luxury), Fuel Type (ICE and BEV), Level of Autonomous Driving, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The speech and voice recognition market is expected to be valued at USD 6.19 Billion in 2017 and is likely to reach USD 18.3 Billion by 2023, at a CAGR of 19.8%.
The majority of consumers are now demanding advanced comfort and convenience features, which largely influence their purchase decisions. The rising trend of premium vehicles equipped with advanced convenience features is also an important factor to be considered for the growth of voice recognition system market. However, the high cost of high-end voice recognition system is expected to inhibit the growth of the market.
The hybrid technology is estimated to be the largest growing segment, by volume, of the voice recognition system market for automotive from 2017 to 2025. The growth of this segment can be attributed to the rise in trend of integrating technology to support centralized function in vehicles.
The BEV segment is estimated to be the fastest growing segment, by volume as well as value, of the voice recognition system market during the forecast period. The growing environmental concerns, rising fossil fuel prices, and stringent government regulations for emission have accelerated the growth of the BEV market. The market players such as Tesla (US), Waymo (US), BMW (Germany), Volvo (Sweden), GM (US), Toyota (Japan), and Renault-Nissan Corporation (The Netherlands) have already introduced various BEVs in the market and are consistently improving their technology with strong focus on R&D.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Technological Overview
7 Voice Recognition System Market for Automotive, by Application
8 Voice Recognition System Market for Automotive, by Technology
9 Voice Recognition System Market for Automotive, by End-User
10 Voice Recognition System Market for Automotive, by Fuel Type
11 Voice Recognition System Market for Automotive, by Region
12 Competitive Landscape
13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/ggjdg4/global_voice?w=4