Global Automotive Virtual Assistant Market by Type (Embedded, Via Smartphone Integration, Device-to-car), By Application (Passenger Vehicle, Commercial Vehicle) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global automotive virtual assistant market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The market growth can be attributed to the increasing demand for advanced technologies in passenger vehicles and commercial vehicles. Embedded type is expected to hold a dominant position in the global automotive virtual assistant market throughout the forecast period. This can be attributed to various factors such as low cost, easy installation, and compatibility with different types of vehicles. Device-to-car type is anticipated to grow at a higher CAGR during the forecast period owing to its ability provide hands-free operation and enhanced safety features.



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Product Definition:

An automotive virtual assistant is a software program that helps drivers with tasks such as navigation, climate control and music playback. These assistants can also provide information about the car's status, such as fuel level and oil pressure. Some virtual assistants can even be used to start or stop the engine remotely.

Embedded:

Embedded is a computer program directly executed by the hardware, which is used to refer to programs that are run on dedicated electronic devices, including microcontrollers and Field Programmable Gate Arrays (FPGAs). In other words, embedded systems contain all the components required to implement a complete solution from start to end. They consist of an operating system kernel and all the supporting software needed for its execution.

Via Smartphone Integration:

The global virtual assistant market is expected to witness significant growth over the forecast period owing to increasing demand for smartphones and improved internet connectivity. Via smartphone integration with VAS helps users control their vehicles using voice commands. It also provides features such as parking assistance, music controls, news & weather updates and others on-demand services from inside the car.

Increasing adoption of advanced technologies such as machine learning.

Application Insights:

The passenger vehicle segment dominated the market in 2017 and is expected to maintain its dominance over the forecast period. The increasing demand for advanced driver-assistance systems (ADAS) in passenger vehicles is one of the key factors driving this growth. ADAS, which includes active safety systems such as blind-spot detection, forward collision warning and adaptive cruise control, among others, are increasingly being introduced across various car models globally. This trend is projected to continue over the forecast period with more advanced driver assistance systems being introduced into cars in near future.

Commercial vehicles are also anticipated to exhibit significant growth during the same period owing to increased adoption of V2V communication technology between commercial vehicles.

Regional Analysis:

The North American regional market accounted for the largest share in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles, which are likely to fuel the virtual assistant technology growth. Moreover, technological advancements such as voice recognition software and artificial intelligence will further boost product adoption across this region.

Asia Pacific is anticipated to be one of the fastest-growing regions owing to rising disposable income levels among consumers coupled with government initiatives supporting new technologies in emerging countries such as China, India, South Korea & Japan. For instance, In January 2018; Government of India launched “Aadhaar Pay” app that allows users make payments using their biometric data stored on UIDAI servers instead of cash or cheque at merchants located within a radius of 100 meters from their homes across India.

Growth Factors:

Increasing demand for connected cars and autonomous vehicles
Rising demand for convenience and comfort in driving
Proliferation of artificial intelligence (AI) and machine learning technologies
Growing popularity of voice-activated virtual assistants, such as Siri, Cortana, and Alexa
Increasing number of partnerships between automakers and tech companies


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Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Virtual Assistant Market Research Report
By Type
Embedded, Via Smartphone Integration, Device-to-car
By Application
Passenger Vehicle, Commercial Vehicle
By Companies
Nuance Communications, Inc., Google Inc., Microsoft Corporation, Apple Inc., Amazon, SoundHound Inc, Artificial Solutions Ltd., Elektrobit Corporation, Skoda, Kenyt, BMW Group, NIO
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
136
Number of Tables & Figures
96
Customization Available
Yes, the report can be customized as per your need.

Global Automotive Virtual Assistant Market Report Segments:
The global Automotive Virtual Assistant market is segmented on the basis of:
Types
Embedded, Via Smartphone Integration, Device-to-car
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Vehicle, Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Nuance Communications, Inc.
Google Inc.
Microsoft Corporation
Apple Inc.
Amazon
SoundHound Inc
Artificial Solutions Ltd.
Elektrobit Corporation
Skoda
Kenyt
BMW Group
NIO



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Highlights of The Automotive Virtual Assistant Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Embedded
Via Smartphone Integration
Device-to-car
By Application:
Passenger Vehicle
Commercial Vehicle
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Automotive Virtual Assistant Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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