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The automotive personal assistant system market size has the potential to grow by 12,771.22 thousand units during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by type (steering system, lane departure warning system, and others) and geography (North America, Europe, APAC, South America, and MEA). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Aptiv Plc, BMW AG, Continental AG, DENSO Corp., Magna International Inc., Nuance Communications Inc., Robert Bosch GmbH, Tata Elxsi Ltd., Valeo SA, and ZF Friedrichshafen AG.
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The market is fragmented. Aptiv Plc, BMW AG, and Continental AG are some of the major market participants. According to Technavio, the ultra-luxury car market will be the target market for the vendors of automotive personal assistant systems during the forecast period. Although the increased demand for connectivity in vehicles will offer immense growth opportunities, the design complexity and technological hinges will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this automotive personal assistant system market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this automotive personal assistant system market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
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North America was the largest automotive personal assistant system market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the high adoption of luxury vehicles will significantly drive automotive personal assistant system market growth in this region over the forecast period.
39% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for automotive personal assistant systems in North America. Market growth in this region will be slower than the growth of the market in APAC.
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The automotive industry is witnessing increased adoption of advanced steering systems and assisted technologies. Hydraulic power steering systems have reached the maturity stage. Currently, they are finding maximum penetration in budget and entry-level cars. With the increasing advances and improvements in automotive systems, the adoption of advanced steering-assisted technologies, such as dynamic steering response and active steering systems, is expected to increase. Therefore, the automotive personal assistant system market share growth by the steering system segment will be faster than the growth of the market by the other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive personal assistant system market size.
Technavio's market research analyst predicts the global automotive personal assistant system market to grow steadily at a CAGR of almost 31% by 2024. One of the primary factors driving the market growth is the rise in the demand for connectivity in vehicles. The demand for in-vehicle connectivity and telematics has led to technological advances, which aim at enhancing the overall in-vehicle experience of both the passengers and drivers. Also, as consumers started interacting more with their personal mobile devices, they started expecting a similar experience from their in-vehicle infotainment systems, especially with respect to user interface. This has given an opportunity to consumers to connect to their smartphones and tablets to the vehicle infotainment systems to access enhanced entertainment and information. For instance, auto OEMs widely use Apple's Carplay and Google's Android Auto in their infotainment systems to allow drivers to connect their smartphones to the car hardware. This rise in the consumer shift will augment growth in the global automotive personal assistant system market during the forecast period.
One of the latest automotive personal assistant system market trends gaining traction is the high rate of adoption of the Android operating system in the automotive industry. In the recent past, automotive OEMs started focusing on operating systems, in addition to hardware, as a differentiating factor. This led to shift from the use of the traditional Microsoft operating system to the use of QNX, then Linux. Consequently, Google, which was earlier limited to the supply of Android Auto, a software application for infotainment systems, is now entering the operating system for automotive infotainment system market through Android N. This increasing rate of change in the automotive software industry will propel growth in the automotive personal assistant system market.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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