Artificial intelligence (AI) continues to permeate automotive technologies and unlock new opportunities to enhance safety, infotainment and the driving experience. AI has the potential to make cars smarter by improving their ability to sense the environment, reason about complex scenarios and decide on appropriate actions. Technologies like computer vision, predictive maintenance and autonomous driving rely on AI algorithms in combination with data from cameras, sensors and GPS to identify vehicles, pedestrians and road conditions. AI assists drivers by enhancing safety features, navigation, parking and lane keeping functions.
The global Artificial Intelligence in Automotive Market is estimated to be valued at US$ 9.3 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Adoption of autonomous vehicles is expected to drive the AI in automotive market growth. Major automakers such as Tesla, BMW and Audi are investing heavily in developing autonomous vehicles technologies. Tesla’s full self-driving feature enables cars to drive autonomously to a destination without any human intervention under certain conditions. The rising development of advanced driver assistance systems and autonomous vehicle prototypes is supporting the growth of AI algorithms for applications such as computer vision, deep learning and predictive analytics. This trend is likely to continue as automakers aim to fully commercialize self-driving cars over the coming decade.
Segment Analysis
The global Artificial Intelligence in Automotive Market is dominated by the ADAS and autonomous driving technology segment. This segment accounted for over 30% of the total market share in 2022 due to the widespread adoption of advanced AI-based driver assistance systems across different vehicle segments. Systems like adaptive cruise control, automatic emergency braking, lane keeping assistance, surround view cameras are being increasingly used in premium and luxury vehicles to enhance safety and convenience.
Key Takeaways
The Global Artificial Intelligence in Automotive Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. Advancements in AI, data processing capabilities, and connectivity infrastructure are enabling auto manufacturers to develop and integrate sophisticated autonomous driving systems.
Regional analysis comprises — North America currently dominates the global market due to high adoption of advanced driver assistance systems and presence of prominent tech companies working on self-driving technologies. Countries like the US and Canada are frontrunners in testing and development of autonomous vehicles. However, Asia Pacific is expected to witness fastest growth throughout the forecast period with China emerging as a major hub of autonomous vehicle testing and manufacturing.
Key players related content comprises — Key players operating in the Artificial Intelligence in Automotive market are BMW AG, AUDI AG, Intel Corporation, Tesla Inc, Uber Technologies, Volvo Car Corporation, Honda Motors, Ford Motor Company, NVIDIA Corporation, Tencent, Microsoft. Tesla and Uber are leading the development of fully autonomous vehicles while traditional automakers like BMW, Audi, Ford are focusing more on incorporating advanced ADAS features in their vehicles. Intel, Nvidia, Microsoft are contributing in areas of AI chip designing and developing autonomous driving software platforms.
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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.
