LONDON--(BUSINESS WIRE)--Technavio has been monitoring the automotive personal assistant system market and it is poised to grow by 12.77 million units during 2020-2024, progressing at a CAGR of over 31% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a Low impact on the automotive personal assistant system market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions-
- Based on segmentation by type, which is the leading segment in the market?
- The steering system segment is expected to be the leading segment based on type in the global market during the forecast period.
- What are the major trends in the market?
- Development of autonomous vehicles is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 31%, the incremental growth of the market is anticipated to be 12.77 million units.
- Who are the top players in the market?
- Aptiv Plc, BMW AG, Continental AG, DENSO Corp., Magna International Inc., Nuance Communications Inc., Robert Bosch GmbH, Tata Elxsi Ltd., Valeo SA, and ZF Friedrichshafen AG. are some of the major market participants.
- What are the key market drivers and challenges?
- Introduction of innovative features in automobiles is one of the major factors driving the market. However, the adverse weather conditions create functional issues restraints the market growth.
- How big is the North America market?
- The North America region will contribute 39% of market growth.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aptiv Plc, BMW AG, Continental AG, DENSO Corp., Magna International Inc., Nuance Communications Inc., Robert Bosch GmbH, Tata Elxsi Ltd., Valeo SA, and ZF Friedrichshafen AG are some of the major market participants. The introduction of innovative features in automobiles will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this automotive personal assistant system market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Automotive Personal Assistant System Market 2020-2024: Segmentation
Automotive Personal Assistant System Market is segmented as below:
- Steering System
- Lane Departure Warning System
- North America
- South America
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Automotive Personal Assistant System Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive personal assistant system market report covers the following areas:
- Automotive Personal Assistant System Market Size
- Automotive Personal Assistant System Market Trends
- Automotive Personal Assistant System Market Analysis
This study identifies development of autonomous vehicles as one of the prime reasons driving the automotive personal assistant system market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Automotive Personal Assistant System Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automotive personal assistant system market growth during the next five years
- Estimation of the automotive personal assistant system market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive personal assistant system market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive personal assistant system market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Steering system - Market size and forecast 2019-2024
- Lane departure warning system - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Aptiv Plc
- BMW AG
- Continental AG
- DENSO Corp.
- Magna International Inc.
- Nuance Communications Inc.
- Robert Bosch GmbH
- Tata Elxsi Ltd.
- Valeo SA
- ZF Friedrichshafen AG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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