Market Overview:
Artificial intelligence in automotive is incorporated into various automotive systems like autonomous driving, predictive maintenance, infotainment, and more. It processes huge amount of data to provide useful information to drivers and enhance safety.
Market key trends:
One of the major trends in the artificial intelligence in automotive market is the increasing adoption of machine learning. Machine learning algorithms use large amount of data to recognize patterns and features which help autonomous vehicles to navigate through traffic seamlessly. It processes data from sensors to detect objects, road signs and other vehicles on road. This data is then used by machine learning models to make decisions and enable autonomous driving capabilities. With continuous learning and adaptation, machine learning improves the ability of self-driving cars to handle complex driving scenarios.
The global Artificial Intelligence In Automotive Market Demand is estimated to be valued at US$ 9.3 Bn in 2023 and is expected to exhibit a CAGR of 55% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The global artificial intelligence in automotive market is segmented by offering into hardware, software, and services. The hardware segment is expected to dominate the market owing to high demand for processors, sensors, cameras and other hardware components used in autonomous and semi-autonomous vehicles. Hardware components play a vital role in the effective functioning of artificial intelligence systems in automobiles.
Key Takeaways
The global artificial intelligence in automotive market is expected to witness high growth, exhibiting CAGR of 55% over the forecast period, due to increasing demand for autonomous vehicles and focus on driver assistance systems.
Regional analysis
North America is expected to be the fastest growing as well as dominating region in the artificial intelligence in automotive market. The increasing investments by major automakers such as General Motors, Ford Motors, Tesla in developing autonomous vehicles and driver assistance systems is driving the growth of artificial intelligence in automotive market in the region.
Key players
Key players operating in the artificial intelligence in automotive market are BMW AG, AUDI AG, Intel Corporation, Tesla Inc, Uber Technologies, Volvo Car, CorporationHonda, MotorsFord Motor, CompanyNVIDIA Corporation, Tencent, Microsoft. Tesla Inc is expected to lead the market owing to its significant investments and advancements in developing autonomous driving technologies.
The Global Artificial Intelligence (AI) in Automotive Industry Research Report is a detailed and professional study on the present landscape of the Artificial Intelligence (AI) in Automotive industry.
In the first section, the report provides a basic overview of the definitions, applications, classifications, and the industry chain structure.
The market analysis has been provided on a global scale, including the traditional & present growth analysis, competitive analysis, and the growth prospects of the major regions.
This report also states supply and consumption figures, import/export rate, as well as revenue, cost, price, and gross margin by the major regions, including both global and local.Global Artificial Intelligence (AI) in Automotive Market was valued at US$ 9392.6 Mn in 2019 and is expected to reach US$ 36,667.9 Mn by 2027, expanding at a CAGR of 20.9%.The report then focuses on the leading competitors considering their company profiles, product portfolio and offerings, key developments, capacity, revenue, production, value, volume, cost, price, and contact information.
In the last section of the report, the feasibility of new investment projects is assessed and overall research conclusions are offered.Get a sample copy of this Report @ https://www.alltheresearch.com/sample-request/334The key players operating in the Global Artificial Intelligence (AI) in Automotive Market are:Tesla Motors 120, Google LLC, Microsoft Corporation, Huawei Technologies, Volkswagen AG, Intel Corporation, Denso Corporation, Aptiv Plc, NVIDIA Corporation, Toyota Motors, Robert Bosch GmbH, IBM Corporation, Honda Motors, BMW AG, Samsung Electronics, TomTom NV, Uber Technologies, AB Volvo, Siemens AG, OthersCompetitive Landscape AnalysisOne of the major factors driving the growth of the Global Artificial Intelligence (AI) in Automotive Market is the growing automotive industry.
Stringent government regulations with regards to the vehicle safety and fuel economy, so as to increase the feasibility of the vehicle and reduce its curb weight is also expected to drive the market growth.
The Global Automotive Artificial Intelligence Market was valued at USD 2.49 billion in 2019 and is predicted to reach USD 74.50 billion by 2030 with a CAGR of 36.2% during the forecast period.Artificial Intelligence is one of the most advanced technologies that is associated with human intelligence through numerous similar characteristics.
The introduction of artificial intelligence into automobiles has led to enhancement of features like Advance Driver Assistance System (ADAS), Automatic Cruise Control (ACC) and Electronic Braking Distribution (EBD), which have made driving effortless and safer.
Processor is further bifurcated into microprocessor and graphics processing unit.
In terms of geographical analysis, the market is categorized into North America, Europe, Asia Pacific and RoW.Request sample copy of this report at:-https://www.nextmsc.com/automotive-artificial-intelligence-market/request-sampleNorth America is the leading region in the global automotive Artificial Intelligence market in terms of market share.
However, Asia Pacific region is expected to grow rapidly in terms of market size during the forecast period.
The competitive nature of the global automotive artificial intelligence market allows big players such as NVIDIA Corporation, IBM Corporation, Micron Technology, Intel Corporation, Microsoft Corporation and others to make strategic investments and extract maximum growth.
