Global Automotive Voice Command System Market: Introduction
Automotive voice command system has witnessed consistent development in recent years. Voice command system enables a vehicle to be operated by voice inputs. These inputs are read and analyzed by the computer or the system embedded in the vehicle and operates as per the instruction provided. The evolution of the automotive voice command system is among the key factors that are expected to drive the automotive voice command system market during the forecast period. Increase in demand for safety/security features in vehicles, stringent government norms, and rise in safety concerns among customers are some of the other factor fueling the expansion of the voice command system market. The new vehicle assessment program is leading to awarding security ratings dependent on vehicles safety performance. Automakers are progressively incorporating automotive voice command system in vehicles.
Automotive Voice command system is majorly accessible in premium and luxury vehicles. However, some automakers are integrating such features into lower/entry level vehicles. This is likely to drive the automotive voice command system market during the forecast period.
Global Automotive Voice Command System Market: Competition Landscape
BMW AG was founded in 1916 and is headquartered in Munich, Germany. The company is a leading automobile manufacturer. It operates through two major segments: automotive segment and motorcycles segment, which are further divided into various product verticals, such as hatchbacks, sedan, coupe, SUV, etc. BMW AG operates through 31 production centers located across 15 countries worldwide. The company has research and development centers located in over 16 countries globally, while it invested over US$ 5.79 Bn in research and development in 2018. BMW Group’s major brands include MINI, Rolls Royce, and BMW.
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HARMAN International was founded in 1980 and is headquartered in Stamford, Connecticut, the U.S. The company designs, develops, and sells connected products and solutions for automakers and consumers across the globe. Its products include audio & visual products, connected car systems, connected services, and enterprise automation solutions. HARMAN also provides audio systems through brands AKG, Harman Kardon, Infinity, JBL, Lexicon, Mark Levinson, and Revel.
Microsoft was founded in 1975 and is headquartered in Redmond, Washington, the U.S. It is a multinational technology company that develops, manufactures, licenses, supports, and sells consumer electronics, computer software, and personal computers, and related services. The company offers its products and services to various industries, including manufacturing, automotive, education, lifestyle, health, retail, government, and financial services. The company had over 134,944 employees in 2018 globally.
Global Automotive Voice Command System Market: Dynamics
Rise in Demand for Technologically Advanced Vehicles
Increase in demand for technologically advanced vehicles is a major factor driving the automotive voice command system market. Vehicles are equipped with several systems and sensors that can be operated remotely by gesture, remote, or voice and are able to perform the desired activities. Presently, vehicles are connected via internet and also with smart devices, which enables the user to access vehicles remotely by phone or through commands using apps or voice. These factors are anticipated to propel the growth of the global automotive voice command system market during the forecast period.
Global Automotive Voice Command System Market: Segmentation
The global automotive voice command system market can be segmented based on:
- Propulsion Type
- Vehicle Type
- Sales Channel
Global Automotive Voice Command System Market, by Technology
In terms of technology, the global automotive voice command system market can be classified into:
- Inbuilt or Embedded
Global Automotive Voice Command System Market, by Application
Based on application, the global automotive voice command system market can be bifurcated into:
- Artificial Intelligence
- Non-artificial Intelligence
Global Automotive Voice Command System Market, by Propulsion Type
On the basis of propulsion type, the global automotive voice command system market can be divided into:
- IC Engine
- Electric vehicle
Global Automotive Voice Command System Market, by Vehicle Type
Based on vehicle type, the global automotive voice command system market can be segregated into:
- Luxury/Premium Vehicle
- Mid-range Vehicle
Global Automotive Voice Command System Market, by Sales Channel
In terms of sales channel, the global automotive voice command system market can be categorized into:
The report on the global automotive voice command system market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
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Regional analysis for the global automotive voice command system market includes:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa (MEA)
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?