DUBLIN--(BUSINESS WIRE)--The "Automotive Artificial Intelligence Market by Component, Technology, and Application: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
At an estimated value of over 2.57 billion USD in 2021, the global Automotive Artificial Intelligence (AI) Market is predicted to thrive at a CAGR of 29.2% and valued at over USD 34.30 billion over the forecast year 2022-2030. Fully autonomous as well as semi-autonomous vehicles use artificial intelligence to perform complex tasks such as face recognition, threat detection, image processing, vehicle localization and mapping, etc., among others.
Machine learning technology enables the vehicle in apprehending data, imitate the human mind and problem solving. Artificial Intelligence, along with other technologies such as Advance Driver Assistance System (ADAS), Adaptive Cruise Control (ACC) and Electronic Braking Distribution (EBD) make driving experience better and ensure advanced safety for both driver and passenger.
Market Dynamics and Trends
The gaining popularity of autonomous vehicle globally, due to its safety and comfort features, along with a shift towards alternative fuel has propelled the growth of automotive artificial intelligence market. Also, artificial intelligence reduces the need of a driver in an autonomous vehicle, which eliminates driver wages and drastically minimizes the operational cost.
These advantages, along with investments made by major market players are expected to further accelerate the automotive artificial intelligence market. Additionally, the increase in demand for premium vehicles with advanced systems and software is anticipated to create opportunities for the market players in the near future.
However, an increase in cyber-crime activities as well as increase in consumer privacy concerns are expected to restrain the market growth
Market Segmentations and Scope of the Study:
The global automotive artificial intelligence market share has been analyzed on the basis of technology, component, application and geography. On the basis of technology, the market is categorized into machine learning & deep Learning, computer vision, and natural language processing. On the basis of component, the market is segmented into hardware, software and service. Hardware is further sub segmented into processor, memory and networks. Additionally, processor is bifurcated into microprocessor and graphics processing unit. On the basis of application, the market is segmented into Semi-Autonomous and Fully Autonomous. Geographic fragmentation and analysis of each segment includes regions comprising North America, Europe, Asia Pacific and RoW.
In terms of geography, North America holds the lion share in the Automotive AI market. The increased adoption of advanced technologies in this region along with the expansion of automotive industry will help this region to retain the major market share throughout the forecast period. In addition, Asia Pacific is expected to grow rapidly with the fastest growing CAGR due to growing consumer base in this region.
- The automobile artificial intelligence market report provides the quantitative analysis of the current market and estimations through 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on
- The study comprises a deep dive analysis of the automobile artificial intelligence market trend including the current and future trends for depicting the prevalent investment pockets in the market
- The information related to key drivers, restraints and opportunities and their impact on the automobile artificial intelligence market is provided in the report.
- The market share of the players in the global automobile artificial intelligence market along with their competitive analysis.
- Value chain analysis in the market study provides a clear picture of the stakeholders' roles
- Rising Demand for Enhanced User Experience and Convenience Features
- Ongoing Trend of Autonomous Vehicles
- Increasing Government Regulations for Vehicle Safety and the Growing Adoption of ADAS Technology by Original Equipment Manufacturers (OEMs)
- Rising Security Concerns and Scarcity of Semiconductors Across the World
- Increasing Demand for Premium Segment Vehicles and Electric Vehicles
KEY MARKET SEGMENTS:
Global Automotive Artificial Intelligence (AI) Market- By Technology
- Machine Learning and Deep Learning
- Computer Vision
- Natural Language Processing
Global Automotive Artificial Intelligence (AI) Market - By Component
Global Automotive Artificial Intelligence (AI) Market - By Application
- Fully Autonomous
Global Automotive Artificial Intelligence (AI) Market - By Geography
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Topics Covered:
2. Automotive Artificial Intelligence (AI) Market- Executive Summary
3. Market Overview
4. Global Automotive Artificial Intelligence Market, by Component
5. Global Automotive Artificial Intelligence Market, by Technology
6. Global Automotive Artificial Intelligence Market, by Application
7. Global Automotive Artificial Intelligence by Region
8. Company Profiles
- Alphabet Inc.
- General Motors Company
- Intel Corporation
- Microsoft Corporation (US)
- NVIDIA Corporation
- IBM Corporation
- QUALCOMM INC
- Tesla Inc
- Ford Motor Company
- Toyota Motor Corporation
For more information about this report visit https://www.researchandmarkets.com/r/7jjr5o
Laura Wood, Senior Press Manager
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