Artificial intelligence (AI) is one of the most progressive technologies in computer science. It is associated with human intelligence through similar characteristics such as language understanding, reasoning, learning, problem solving, and others. Manufacturers in the market witness enormous underlying intellectual challenges in the development and revision of the technology. In addition, the growth in automotive industry is expected to drive the automotive artificial intelligence market. Automotive industry has experienced the promise of artificial intelligence and is among the major industries using AI to augment and mimic the action of humans. Furthermore, emergence of standards such as advanced driver assistance system (ADAS), adaptive cruise control (ACC), blind spot alert, and growth in demand for convenience features attract automotive vendors towards AI.
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Segment overview
The report segments the automotive artificial intelligence market based on component, technology, application, and region. Based on component, the market is divided into hardware, software, and service. Further, hardware is classified into processor, memory, and networks. Furthermore, processor is bifurcated into microprocessor and graphics processing unit. By technology the market is segmented into machine learning & deep learning, computer vision, and natural language processing. By application, it is fragmented into semi-autonomous and autonomous. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key Benefits For Automotive Artificial Intelligence Market:
- This report studies the global automotive artificial intelligence market with current trends and future estimations to portray the imminent investment pockets.
- The overall automotive artificial intelligence (AI) market potential is determined to understand the profitable trends to gain a strong foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current automotive AI market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the automotive AI industry.
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Growth in demand for autonomous vehicle
Autonomous vehicles are gaining popularity globally due to various features such as automatic parking, self-driving, autopilot, and others, which minimizes human effort during driving. In addition, such autonomous vehicles are backed up by some of the biggest technologically sound companies such as Nvidia, Intel, and Tesla among others and hence the probability of failure is minimal. For instance, Tesla’s autopilot system which has features such as keeping the vehicle within a lane while driving, auto changing the lanes whenever required, self-parking, and others, is one of the most advanced system available in automotive artificial intelligence market. Moreover, autonomous vehicles are anticipated to significantly bring down the requirement of human intervention and be of vital importance in the industries which are suffering from low man power for transportation purposes. This, in turn is expected to drive the growth of automotive AI market.
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