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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TOP IMPACTING FACTORS
Rise in demand for enhanced user experience and convenience features, rising trend of autonomous vehicles, rising security and privacy concern, and increasing demand for premium vehicle segment are the significant factors that impact the growth of the global automotive artificial intelligence market. These factors are anticipated to either drive or hamper the market growth.
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Rise in security and privacy concerns
Autonomous vehicles have made life of consumers safe and convenient. However, there are certain threats that are faced by the manufacturers related to security and privacy concerns such as safety of personal data, cyber-attacks, and driver distractions. For instance, around 1.4 million Fiat Chryslers were recalled in the US due to a glitch in their dashboard computers that permitted hackers to disable the vehicle. Similarly, white hat hackers were successful in implanting malware into the system of a Tesla car. These instances of intruding customer’s privacy are some of the major restraints in the market growth.
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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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