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Automotive Voice Recognition Market Share

Report ID: GMI8235
Published Date: Feb 2024
Report Format: PDF

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Automotive Voice Recognition Market Share

Microsoft and IBM hold a significant market share of over 9% in the automotive voice recognition industry. Businesses primarily allocate resources to research & development endeavors, aimed at creating sophisticated voice recognition technologies that are customized for automotive use. Additionally, they concentrate on refining accuracy, speed & natural language processing capabilities to elevate user satisfaction and interaction in automotive contexts.

Numerous companies provide cloud-based voice recognition services, harnessing the strength of cloud computing to bolster processing capabilities and ensure ongoing enhancements. These services facilitate seamless real-time data synchronization across various devices and platforms, ensuring a unified & consistent user experience.

Automotive Voice Recognition Market Companies

Major companies operating in the automotive voice recognition industry are:

Amazon
Bosch
Continental AG
Google
Harman International
IBM
Microsoft
Nuance Communications
Qualcomm Technologies
SoundHound

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automotive voice recognition reached USD 2.1 billion in 2023 and is set to witness 12% CAGR between 2024 and 2032, owing to the increasing adoption of connected cars with their internet connectivity and advanced features.

The software segment held a major market share of around 63% of the automotive voice recognition industry in 2023, as updates and enhancements are generally provided swiftly and remotely.

North America market recorded share of over 33% in 2023, due to the faster integration and wider use of voice recognition in vehicles across the region.

Amazon, Bosch, Continental AG, Google, Harman International, IBM, Microsoft, Nuance Communications, Qualcomm Technologies, and SoundHound.