What is Automotive Artificial Intelligence (AI) Market?
Artificial intelligence (AI) systems, which use data and algorithms to mimic the cognitive functions of the human mind, and have the ability to learn and solve problems independently, are rapidly being deployed across a variety of industries and use cases. The automotive industry is among the industries at the forefront of using AI to mimic, augment, and support the actions of humans, while simultaneously leveraging the advanced reaction times and pinpoint precision of machine-based systems. Automotive Artificial Intelligence (AI) in semi-autonomous vehicles and fully autonomous vehicles is rising and the future will rely heavily on AI systems.
Highlights from Automotive Artificial Intelligence (AI) Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Alphabet Inc. (United States), Intel Corporation (United States), NVIDIA Corporation (United States), IBM Corporation (United States), Microsoft Corporation (United States), Harman International Industries Inc. (United States), Xilinx Inc. (United States), Qualcomm Inc. (United States), Tesla Inc. (United States), Volvo Car Corporation (Sweden), BMW AG (Germany), Audi AG (Germany), General Motors Company (United States), Ford Motor Company (United States), Toyota Motor Corporation (Japan), Hyundai Motor Corporation (South Korea), Uber Technologies Inc. (United States), Honda Motor Co. Ltd. (Japan) and Daimler AG (Germany) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are Alphabet Inc., Intel Corporation, NVIDIA Corporation, and IBM Corporation. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Automotive Artificial Intelligence (AI) market throughout the forecasted period.
Alphabet Inc. (United States), Intel Corporation (United States), NVIDIA Corporation (United States), IBM Corporation (United States), Microsoft Corporation (United States), Harman International Industries Inc. (United States), Xilinx Inc. (United States), Qualcomm Inc. (United States), Tesla Inc. (United States), Volvo Car Corporation (Sweden), BMW AG (Germany), Audi AG (Germany), General Motors Company (United States), Ford Motor Company (United States), Toyota Motor Corporation (Japan), Hyundai Motor Corporation (South Korea), Uber Technologies Inc. (United States), Honda Motor Co. Ltd. (Japan) and Daimler AG (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Didi Chuxing (China), AImotive (Hungary), Nauto Inc. (United States), nuTonomy (United States), Argo AI (United States) and drive.ai (United States). Automotive Artificial Intelligence (AI) Market Segmentation:
Scope | Sub-Segments |
---|
Application / End User | Human–Machine Interface, Semi-autonomous Driving and Autonomous Driving |
Type | Automatic Drive and ADAS |
Technology | Deep Learning,Machine Learning,Context Awareness,Computer Vision,Natural Language Processing |
Vehicle Type | Passenger Car,Commercial Vehicle,Others |
Process | Signal Recognition,Image Recognition,Data Mining |
Component | Hardware,Software,Service |
On the basis of geography, the market of Automotive Artificial Intelligence (AI) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Government Regulations for Vehicle Safety and Growing Adoption of ADAS Technology By OEMs
Market Growth Drivers:
Increasing Growth in Luxury Vehicle Sales, Growing Demand for Safety, Convenience, and Comfort Applications in Vehicle and Rising Demand for Enhanced User Experience and Convenience Features
Challenges:
Maintaining the Balance Between Cost and Quality and Issues Related to Accidents of Driverless Cars
Restraints:
Increase in the Overall Cost of A Vehicle and Rising Threat to Cyber Security of Vehicles
Opportunities:
Growing Demand for Premium Segment Vehicles and Increasing Traffic Congestions Due to Rising Urbanization Around the Globe
Key Target Audience
Automotive Artificial Intelligence (AI) Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
Market Leaders & Development Strategies
In April 2023, Alphabet merged an internal Google research team called Brain with DeepMind. It's a move designed to bring the two AI-focused groups closer together as the AI war heats up. Combining all of this talent into one focused team powered by Google's computing resources greatly accelerates advances in AI.
On 7th January 2020, the magazines Auto Bild and Computer Bild presented the BMW Group Production with their Connected Car Award in the Pioneer category. The winner is selected by a jury of experts comprised of editors from both publications, honoring particularly innovative solutions, such as the use of artificial intelligence in production. The BMW Group has been applying AI solutions in several use cases in series production for some time now