The [FURL=https://www.industryarc.com/Report/19437/automotive-smart-assistant-market.html?utm_source=freeprnow&utm_medium=pressrelease&utm_campaign=paidpressrelease]global market for automotive smart assistant[/FURL] is forecast to reach $12.5 billion by 2026, growing at CAGR 8.6% from 2021 to 2026. The market growth is mainly driven by the factors including technological development and increasing investments in artificial intelligence (AI) & machine learning (ML) and wide adoption of IoT. Furthermore, in-vehicle smart assistant systems can be integrated into other ecosystems such as home automation, smart-phones, tablets, computers, laptops and others and increases the security level. These features are set to boost the growth of automotive smart assistant industry.Key Takeaways
Integrated automotive smart assistant market will register the fastest growth in the forecast period, as most of the automotive manufacturers integrate this technology into their vehicles.
North America dominated the market by a market share of more than 35% in 2020 due to the early adoption of this technology and the presence of technologically advanced research institutes working for the development of AI technologies.
The demand for automotive smart assistant is estimated to witness significant upsurge during the forecast period 2021-2026, owing to the increasing investment and government’s initiatives for AI across the globe.
The market is consolidated with top market players including Continental AG, Google, LLC, Apple Inc., Amazon.com, Inc., BMW AG, IBM Corporation and others.
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Automotive Smart Assistant Market Segment Analysis- By Geography
North America dominated the global automotive smart assistant market with share of 35% in 2020 due to the early adoption of this technology and is estimated to maintain this lead during the forecast period 2021-2026. This region has many technologically advanced research institutes working for the development of AI technologies which is primarily driving the North American smart assistant market. Willingness to adopt emerging technologically advanced smart assistant tools and rising popularity of smart vehicles, smart homes and connected vehicles among the consumers of this region as well as the presence of major smart assistant manufacturing companies play an important role in the growth.
Automotive Smart Assistant Market Drivers
Increasing Investment and Government’s Initiatives for AI
Safety Measures
Automotive Smart Assistant Market Landscape
As of 2020, the market for Automotive smart assistant market is consolidated with the top players Continental AG, Google, LLC, Apple Inc., Amazon.com, Inc., BMW AG, IBM Corporation, Groupe PSA, Alibaba Group Holding Limited, Microsoft Corporation and others.
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