Automotive Virtual Assistant: Introduction
- Personal voice assistant systems that were being integrated in vehicles for the last few years are being replaced with virtual assistant systems in modern vehicles, as these systems prevent misleading of the driver while driving.
- Automotive virtual assistant is a human-machine interaction tool and a form of artificial intelligence that acts as an interface between the driver and automotive. A virtual assistant, an AI assistant or digital assistant, is an application program that understands natural human language, voice commands, and completes the task for the user.
- Prominent automaker Skoda has taken the next step by adding a virtual assistant to its vehicles that are accessible through a vocal command
Key Drivers of Global Automotive Virtual Assistant Market:
- Usage of personal voice assistants in cars started with people bringing their mobile devices with them to make calls, to answer messages, and to find their way via navigation, etc. The major drawback of utilizing the personal assistant in vehicles was that it distracted the driver, leading to accidents. Technologies such as virtual assistant were introduced in the market to eliminate accidents. The virtual assistant eliminates the probability of misleading the driver while driving. This is boosting the demand for such vehicles from consumers, which further drives the automotive virtual assistant market across the globe.
- Demand of virtual assistant in vehicles is increasing significantly owing to preference among middle class consumers toward advanced technology that enhances safety and security in vehicles. Therefore, a rise in production of vehicles drives the automotive virtual assistant market across the globe.
- Key players are investing in research & development in automotive technologies related to drivers and vehicle safety across the globe. Several automakers are integrating human machine interaction technologies such as automotive virtual assistant including speech recognition and text to speech conversion in their vehicles. These factors are likely to boost the automotive virtual assistant market across the globe.
Speech Recognition to Offer Attractive Opportunities:
- Rise in demand for speech recognition system in vehicles is propelling virtual assistant market. The automotive sector is a major application area of the virtual assistant system, as it reduces accidents assists the drive while driving, thereby fueling the demand for autonomous vehicles and advanced system in modern vehicles. This is likely to fuel the automotive virtual assistant market across the globe.
- Connected cars are being integrated with speech recognition technology that would enable the driver to use his cellphone and find his destination with the help of maps using speech recognition system. Such features are also likely to boost the automotive virtual assistant market across the globe.
- Increase in integration of these technologies in vehicles, such as ADAS, connected cars, speech recognition, and virtual assistant, is estimated to boost the production of these vehicles and subsequently, offer significant opportunity for the global automotive virtual assistant market during the forecast period
North America Automotive Virtual Assistant Market to Expand Significantly
- North America is a lucrative market for the automotive industry, which can be attributed to high rate of adoption of technology and increased standards of living in the region. Therefore, North America accounted for a notable share of the global automotive virtual assistant market.
- Rise in production of vehicles and increase in demand for development of technologies have prompted several key OEMs to invest in the development and manufacture of such technologies in their vehicles, which in turn is also boosting the automotive virtual assistant market in the region
Government Rules and Regulations to Hamper Market
- Stringent norms and regulations enacted by governments in some regions and lack of funds to develop such a technology are estimated to hinder the global automotive virtual assistant market during the forecast period
Key Players Operating in Global Automotive Virtual Assistant Market
The global automotive virtual assistant market is highly fragmented with top manufacturers across the globe. A few key players operating in the global automotive virtual assistant market are:
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Google Inc.
- Apple Inc.
- International Business Machines Corporation
- Artificial Solution Ltd
- eGain Corporation
- Oracle Corporation
- Next IT Corporation
- CSS Corporation
- True Image Interactive lnc.
Global Automotive Virtual Assistant Market: Research Scope
Global Automotive Virtual Assistant Market, by Technology
- Speech Recognition
- Voice Recognition
- Text To Speech
- Gesture Recognition
Global Automotive Virtual Assistant Market, by Application
- Navigation Control
Global Automotive Virtual Assistant Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicles
- Commercial Vehicle
- Light Duty Vehicles
- Medium Duty Vehicles
- Heavy Duty Vehicles
Global Automotive Virtual Assistant Market, by Sales Channel
- Original Equipment Manufacturer (OEM)
- Original Equipment Supplier (OES)
Global Automotive Virtual Assistant Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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.
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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.
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?
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.