Research and Markets - Global Automotive Voice and Speech Recognition System Market CAGR Growth of 4.31% by 2020 - Trends, Technologies & Opportunities Report 2016-2020 - Key Vendors: Citroen, Daimler, Volvo Cars
The report forecasts the global automotive VR system market to grow at a CAGR of 4.31% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: Automakers went through the evolution of in-vehicle infotainment and communications systems in a Christopher Columbus fashion. As the popular story goes, Columbus and his crew knew they needed to discover India, so they went and discovered an island whose natives looked like Indians. They even named it the West Indies after India; later, it became apparent to them that the islands were not India after all. They finally found the Americas and that is what Columbus and his crew are known for today, whence their West Indian discovery has been assimilated by the much larger discovery of the Americas.
According to the report, a key growth driver is the traffic violation incident reduction to be a major reason for user-level adoption of VR devices. NHTSA's guidelines, though naïve, point us to the current viewpoint of the establishment toward VR systems. They see VR as a new ally to them, which will help reduce, if not eliminate, the number of counts of driver distraction and reduce the number of traffic violation tickets for the drivers. Hence, from their perspective, it is a win-win scenario for the drivers.
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?