How big is the Automotive Voice Recognition System Market?

The Automotive Voice Recognition System Market size is expected to reach USD 3.06 billion in 2024 and grow at a CAGR of 14.77% to reach USD 6.09 billion by 2029. Read More

What is the current Automotive Voice Recognition System Market size?

In 2024, the Automotive Voice Recognition System Market size is expected to reach USD 3.06 billion. Read More

Who are the key players in Automotive Voice Recognition System Market?

Microsoft Corporation, Apple Inc., Alphabet Inc., SoundHound AI Inc. and Amazon.com, Inc. are the major companies operating in the Automotive Voice Recognition System Market. Read More

Which is the fastest growing region in Automotive Voice Recognition System Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Automotive Voice Recognition System Market?

In 2024, the North America accounts for the largest market share in Automotive Voice Recognition System Market. Read More

What years does this Automotive Voice Recognition System Market cover, and what was the market size in 2023?

In 2023, the Automotive Voice Recognition System Market size was estimated at USD 2.61 billion. The report covers the Automotive Voice Recognition System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Voice Recognition System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Automotive Voice Recognition System Market Share

Statistics for the 2023 & 2024 Automotive Voice Recognition System market share, created by Mordor Intelligence™ Industry Reports. Automotive Voice Recognition System share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Automotive Voice Recognition System Industry

The automotive voice recognition system market is fragmented and highly competitive due to various incumbent players and new entrants operating in the ecosystem. The market is characterized by the presence of considerably large players who have entered into collaborations with major auto manufacturers. These players also engage in joint ventures, mergers and acquisitions, new product launches, and product development to expand their brand portfolios and cement their market positions. For instance,

In January 2024, Volkswagen announced that starting in spring 2024, the Cerence Chat Pro systems that are part of the infotainment in the VW 1D3, ID4, ID5, ID7, Tiguan, Passat, and Golf would integrate ChatGPT to assist with parsing voice requests and enabling a variety of functions. This includes controlling the infotainment, navigation, and climate functions.
In June 2023, MG Motor India, the Indian unit of British car maker Morris Garages, announced its partnership with Jio Platforms to offer unique voice solutions as part of its connected car features in its newly launched smart electric vehicle in India. As per the agreement, Jio's Hinglish voice assistant system, HelloJio, will offer versatile in-car voice assistants to Indian users driving the Comet EV.
In July 2022, LG Electronics Inc. collaborated with SoundHound AI Inc. to incorporate SoundHound's advanced AI-based voice recognition platform into LG's IVI infotainment systems for automobiles. The partnership will enable LG Electronics Inc. to offer SoundHound Inc.'s advanced voice-based AI that offers conversational voice controls to ensure a very high degree of convenience for drivers and passengers of the vehicle.

The market is anticipated to witness the integration of advanced technologies such as artificial intelligence and virtual assistants like Alexa in automotive voice recognition systems over the coming years.