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Automotive Smart Assistant Market Size to Grow at a CAGR of 8.8% During the Forecast Period 2020-2025

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Automotive Smart Assistant Market Size to Grow at a CAGR of 8.8% During the Forecast Period 2020-2025

May 28
21:00 2021
Automotive Smart Assistant Market Size to Grow at a CAGR of 8.8% During the Forecast Period 2020-2025

Automotive Smart Assistant Market
Increased Demand for Connectivity in Vehicles Driving the Growth of Automotive Smart Assistant Market.

The Automotive Smart Assistant Market is forecast to reach $10.9 billion by 2025. Growing at a CAGR of 8.8% from 2020 to 2025. Smart assistant is a computer program which performs tasks or services based or commands and questions. These are programmed machines which work under the domain of machine learning. Smart assistants can interpret human speech and respond back through synthesized voices. It works just like a normal human assistant work. Automotive smart assistant is a question-answering computer system which acts as an interface between driver and automotive signalling. It allows driver to dial a number or pick up calls during driving or texting, searching for petrol or any address without any distraction. Original equipment manufacturers and Tier1 suppliers are looking forward to include artificial intelligence (AI) and machine learning technologies in enhancing smart assistant functions and capabilities. OEM’s approach towards smart assistant is focused on adopting hybrid solutions with vehicle connectivity and 5G technologies.

Automotive Smart Assistant Market Segment Analysis – By Technology

Automotive smart assistant has many technology features like text to speech, gesture recognition and speech recognition. Automotive gesture recognition is anticipated to be the next-generation in-vehicle user interface. Automakers globally are integrating advanced gesture control systems into vehicles to deliver a better driving experience, increased safety, and security. Ongoing developments in the automotive industry such as IOT enabled systems, connected vehicles, automation, in-vehicle navigation and infotainment systems are likely to boost the deployment of gesture recognition. The rapidly growing trend of autonomous vehicles and electric cars will further push demand for advanced gesture control technologies.

Automotive Smart Assistant Market Segment Analysis – By Application

Navigation control is mostly used in automobiles for the purpose of route mapping. Its purpose is to supervise and manage the movement of the vehicle and makes way from one location to another. Navigation control is majorly influenced by growth of automotive industry, increase in traffic congestion, increasing adoption of car GPS navigation system and growing demand for real time traffic data. Factors like changing lifestyles, rising purchasing power of people and development of autonomous vehicles are increasing demand for automotive navigation control.

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Automotive Smart Assistant Market Segment Analysis – By Geography

Automotive smart assistant market was dominated by North America in 2019. Automotive smart assistant is gaining more popularity and leading vendors are investing in Research and development activities in global market. There are certain factors which attributes to North America automotive smart assistant market are introduction of new models in the market as per consumer lifestyle and preferences and rapid increase in dual income households in developed markets are attributing to the market.

Automotive Smart Assistant Market Drivers

Increased demand for connectivity in vehicles

The high dependency on technology among people is driving the demand for connectivity in automotive vehicles. Customers of the automobile market always look for convenience and comfort in their purchase and expect extra features and compare with their personal computing and mobile devices. Most of the manufacturers in these days are providing an option to their customers to connect their smartphones to the vehicles to access its various features. There are two technologies which are widely used by manufacturers are Internet of things and driver assistance technology which provides connectivity options to customers.

Government Initiatives in safety controls

Government institutions globally are increasing efforts and are actively involved in improving the safety and environmental standards of vehicles. The adoption of safety technologies by manufacturers in vehicles like advanced driver assistance system (ADAS) and telematics services like e-call and ERA-GLONASS are being adopted to prevent distraction in driving and road safety. With these kind of safety measures and features demand for automotive smart assistants is increasing.

Automotive Smart Assistant Market Challenges

Connectivity

One of the major challenges faced by global smart assistant is connectivity. Any technology these days need an internet connection and smart assistants especially works with connectivity. Connectivity is critical for an intuitive and smart digital assistant. Most of the vehicles today come with connectivity and rollout of this is very slow due to longevity of vehicle ownership. There are still a lot of people who have not been adapted to vehicles with smart assistants. Vehicles which do not have connectivity are dependent on embedded smart assistants which may not have updated information.

Automotive Smart Assistant Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the automotive smart assistant market. The Automotive smart assistant market is dominated by major companies such Nuance Communications Inc., Next IT Corporation, Speaktoit Inc., Artificial Solutions Ltd., Elektrobit Corporation, Google Inc., Delphi Automotive LLP, International Business Machine Corporation (IBM), Microsoft Corporation, Apple Inc.

Acquisitions/Technology Launches/Partnerships

In June 2014, Nuance Communications announced its Dragon drive automotive assistant with Artificial intelligence (AI) for expanded conversational and cognitive capabilities to the drivers and passengers to ask for navigation, music, content and other in-car features just by speaking.

In Sep 2018, Affectiva, global leader in Artificial Emotional Intelligence and Nuance Communications announced to work together to further humanize automotive assistants and in-car experiences. The integrated solution will deliver first interactive automotive assistant that understands drivers and passengers cognitive and emotional states from face and voice and adapts behaviour accordingly.

Key Takeaways

Automotive smart assistant is a system that acts as a primary interface between the driver and the vehicle Rapid rate of adoption of new technologies, smart phones and social media is fuelling human dependence on digital technology which leads to demand for automotive smart assistant.

Original equipment manufacturers and Tier1 suppliers are looking forward to include artificial intelligence (AI) and machine learning technologies in enhancing smart assistant functions and capabilities.

In the recent years there is increased adoption of android operating system in the automotive industry.

According to global consumer survey 2019, about 54% of people use In-car smart assistant all the time in near future.

Related Reports :

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https://www.industryarc.com/Report/15039/connected-cars-market.html

B. Automotive Sensors Market

https://www.industryarc.com/Report/7364/Automotive-Sensors-Market-Research-Report.html

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