Global Automotive Personal Assistant System Market to Showcase a CAGR of 32% Through 2021: Technavio
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LONDON—Technavio analysts forecast the global automotive personal assistant system market to grow to 6.15 million units by 2021, at a CAGR of close to 32% over the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the automotive personal assistant system market for 2017-2021. To determine the market size, the study considers revenue generated from the annual shipment of the automotive personal assistant system units across various geographies.
| An automotive personal assistant system is a holistic system that helps the drivers to drive a vehicle with minimum interference. The Americas are the leading adopters of the technology, driven by the high adoption rates of luxury vehicles and the fiercely competitive vendor landscape in Canada. |
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Technavio analysts highlight the following three factors that are contributing to the growth of the automotive personal assistant system market:
- Economies of scale enjoyed by the consumer electronics industry
- Increased demand for connectivity in vehicles
- Governments to push for in-vehicle safety and improvement in safety controls
Economies of scale enjoyed by the consumer electronics industry
“Automotive manufacturers closely track the consumer electronics industry to leverage the economies of scale that is dominant in the sector to provide state-of-the-art personal assistant systems to its consumers,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive electronics research.
Technologies and products such as liquid crystal display (LCD) panels, graphics, haptics, and speech recognition are integrated widely in smartphones, which led to the fall in their prices. Automotive manufacturers capitalized on the fall in prices to launch affordable personal assistants with these technologies.
Increased demand for connectivity in vehicles
The high rates of dependence on technology have increased the demand for connectivity options in automotive vehicles. Consumers of the market expect in-vehicle infotainment systems to be on par with their personal computing or mobile devices, especially with respect to the user interface. Most automotive manufacturers provide the option to their customers to connect their smartphones to the vehicles to access its various features. Apple’s Carplay and Google’s Android Auto are widely used by manufacturers to provide seamless connectivity options to its consumers.
Governments to push for in-vehicle safety and improvement in safety controls
“Governments worldwide are actively involved in improving safety and environmental standards of vehicles. Thus, telematics services such as e-Call and ERA-GLONASS are increasingly being adopted to prevent distracted driving and increase road safety,” says Siddharth.
The adoption of safety technologies such as advanced driver assistance system (ADAS) is also increasing to curb road accidents. With ADAS and connected technologies gaining popularity among car makers and consumers, the adoption of automotive personal assistance systems is expected to increase.
Browse Related Reports:
- Global Automotive Usage-Based Insurance Market 2017-2021
- Global Automotive Haptic Technology Market 2017-2021
- Global Automotive Personal Navigation Systems Market 2016-2020
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.