Global Automotive Voice and Speech Recognition System Market to grow at a CAGR of 4.31% during Forecast period 2016-2020

Albany, NY, April 21, 2017: The VR systems, which we know today, featuring advanced speech recognition, emerged in the automotive domain in 2004-2005. One of the first vehicles to release it was Honda Acura RL, wherein the system was a part of the standard equipment. Honda also offered the VR system in its Acura MDX and Odyssey models as optional equipment. The Honda VR system was based on the IBM-embedded ViaVoice software, which was used to jointly develop the system by the two companies. The system was designed to access the majority of the in-car navigation system with voice inputs by the user. There were more than 700 commands and millions of city and street names, which were built into the system.

However, this was not the first VR system; earlier, Mercedes-Benz had come up with a rudimentary system (used only to operate the on-board telephone) back in 1996. It did not take off during those early years, mostly due to the limited nature of consumer exposure (Mercedes only offered it in the S and CL Classes), as well as because the technology was still in its infancy.

The global automotive VR system market to grow at a CAGR of 4.31% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global automotive VR system market for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the total consumption of automotive VR system market globally. The report does not include revenue generated from the aftermarket service of the product.

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Technavio's report, global automotive VR system market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- Apple,
- Ford Motors
- Harman International
- Mercedes-Benz
- Microsoft
- Nuance Communications
- VocalZoom
- Voicebox Technologies

Other prominent vendors
- Bayerische Motoren Werke AG
- Citroen
- Daimler AG
- Fiat Chrysler Automobiles
- General Motors
- Honda Motor Co.
- Hyundai Motor Co.
- Nissan Motor Company Ltd.
- Toyota Motor Corp.
- Volkswagen AG
- Volvo Cars
- Anhui USTC iFlytek Co
- Google............................

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Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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