Automotive Voice and Speech Recognition System Market To Grow At CAGR Of 4.31% Between 2016-2020

MarketResearchReports.biz has recently announced the addition of a market study “Global Automotive Voice and Speech Recognition System Market 2016-2020”, is a comparative analysis of the global market.

About the Global Automotive VR Systems

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.

Technavios analysts forecast the global automotive VR system market to grow at a CAGR of 4.31% during the period 2016-2020.

Covered in this report

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.

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.

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