Automotive Personal Assistant System Market Analysis with Highlights on the Impact of COVID-19 (2020-2024) | Introduction of Innovative Features in Automobiles to Boost Market Growth | Technavio

William Arsn

LONDON–(BUSINESS WIRE)–The automotive personal assistant system market is expected to grow by 12.77 million units during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

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Automobile manufacturers across the globe are increasingly adopting artificial intelligence (AI), internet of things (IoT), and machine learning (ML) to provide innovative features in their vehicles. This is increasing the penetration of advanced features such as personal assistant systems, automatic high-beam control, and chassis control in vehicles. Besides, the advent of autonomous vehicles has further increased the demand for such advanced components and features in the automobile industry. These factors are contributing to the growth of the global automotive personal assistant system market.

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As per Technavio, the increased adoption of electronics in modern vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Automotive Personal Assistant System Market: Increased Adoption of Electronics in Modern Vehicles

Modern vehicles are fitted with a large number of electronics to increase efficiency, reduce emissions, and improve overall performance. Automotive systems such as fuel delivery systems, braking systems, steering systems, and safety systems are integrated with chips to fine-tune their operation in the vehicle. The increasing use of electronics has necessitated the need for automotive diagnostic scan systems to detect errors in the vehicle. With growing consumer demand for safety, convenience, and connectivity features, automakers are integrating onboard diagnostics systems with personal assistant systems to record errors in the system and store them in the vehicle log. Therefore, the increasing penetration of electronics in vehicles is expected to have a positive impact on the growth of the global automotive personal assistant system market.

“Government intervention to increase in-vehicle safety and improvement in safety controls and the development of autonomous vehicles will further boost market growth during the forecast period,” says a senior analyst at Technavio.

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Automotive Personal Assistant System Market: Segmentation Analysis

This market research report segments the automotive personal assistant system market by Type (Steering system, Lane departure warning system, and Others) and Geography (North America, Europe, APAC, South America, and MEA).

The North American region led the automotive personal assistant system market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to the high adoption of luxury vehicles in the region.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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