Voice Recognition System Industry 2019 Ongoing Trends and Recent Developments

HNY Research projects that the Voice Recognition System market size will grow from USD 914.22 Million in 2017 to USD 2668.99 Million by 2023, at an estimated CAGR of 19.55%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.

The key growth drivers for the market are the rising trend of autonomous vehicles, integration of several electronics functions in central console of the car by OEMs, and growing demand for connected vehicles.The non-AI-based segment is estimated to hold the largest market share in 2018. However, the AI-based voice recognition system is estimated to be the fastest growing market during the forecast period and is anticipated to grow at a rapid pace due to technological advancements. In addition, the technology-driven companies are using the AI-based voice recognition system as a tool for developing advanced infotainment features for autonomous and semi-autonomous vehicles.

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By Market Players:
Nuance?, Microsoft?, Alphabet?, Harman?, Apple?, Sensory?, Voicebox?, Inago?, Lumenvox?, Vocalzoom, , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

By Application
Artificial Intelligence?, Non-Artificial Intelligence, , , , , , ,

By Technology
Embedded?, Hybrid, , , , , , ,

By End-User
Economy Vehicles?, Mid-Price Vehicles?, Luxury Vehicles, , , , , ,

By Fuel Type
Battery Electric Vehicle (BEV)?, Internal Combustion Engine (ICE)?, Others (Hybrid Vehicles), , , , , ,

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