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Vehicle Emotional Intelligence Market Trends

Report ID: GMI11325
Published Date: Sep 2024
Report Format: PDF

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Vehicle Emotional Intelligence Market Trends

The vehicle emotional intelligence industry is undergoing significant changes due to innovations and the adoption of new features by key players in the automotive and technology sectors. Emerging trends, driven by technological advancements and changing consumer expectations, are also influencing the market growth. One key development is the integration of emotional intelligence with Advanced Driver-Assistance Systems (ADAS) to improve vehicle safety and driver support.

By incorporating emotional data into ADAS features like lane-keeping assist and adaptive cruise control, vehicles can offer more context-aware assistance. For instance, if the system detects driver fatigue or stress, it can adjust driving aids or provide alerts to prevent accidents. In October 2022, AVATR Technology positioned itself as a major player in the smart electric vehicle (SEV) market by focusing on creating an emotionally intelligent companion for users. AVATR's approach integrates emotional intelligence into its vehicles, allowing them to respond to users' feelings and needs, enhancing the overall driving experience.

Additionally, as consumers demand more personalized and connected experiences in their vehicles, manufacturers are investing in vehicle emotional intelligence technologies. These technologies are being developed to change as per the emotional moods of vehicle occupants. This includes adjusting climate control, audio settings, and seat positions to enhance comfort and satisfaction, reflecting a broader trend towards personalization in the automotive industry.

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of vehicle emotional intelligence reached USD 1 billion in 2023 and is set to grow at 16.5% CAGR from 2024 to 2032, led by rising demands for passenger safety, advanced infotainment systems, and the adoption of connected vehicles.

The software segment accounted for over 60% of the market share in 2023 and is expected to surpass USD 2.5 billion by 2032, due to the crucial role software plays in processing data from sensors, integrating with vehicle systems, and providing real-time emotional intelligence insights.

North America held over 35% revenue share in 2023, owing to the region's demand for advanced features in vehicles, along with a strong R&D infrastructure.

Key players include Bosch, Kia Corporation, Affectiva, Cerence, BMW AG, Antolin, Forvia, Harman International, Eyeris AI, and AVATR Technology. Bosch and Kia hold around 15% of the market share in 2023.