IMARC Group’s report titled “Automotive Artificial Intelligence Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global automotive artificial intelligence market forecast. The global market size reached US$ 3.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.6 Billion by 2028, exhibiting a growth rate (CAGR) of 31.91% during 2023-2028.
Automotive artificial intelligence (AI) is the integration of advanced AI technologies and algorithms into vehicles and automotive systems to enable them to perform tasks that traditionally require human intelligence. It comprises autonomous driving, natural language processing (NLP) for voice commands and communication, real-time data analysis for predictive maintenance, and advanced driver assistance systems (ADAS) that enhance vehicle safety. It assists in enhancing the overall efficiency, safety, and functionality of automobiles. As it aids in optimizing performance and providing a seamless driving experience for consumers, the demand for automotive AI is rising across the globe.
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Automotive Artificial Intelligence Market Trends and Drivers:
At present, the increasing demand for connected and autonomous vehicles among the masses around the world represents one of the major factors contributing to the growth of the market. Apart from this, the rising popularity of ridesharing and mobility-as-a-service (MaaS) platforms worldwide is propelling the growth of the market. Moreover, the increasing need for AI-driven autonomous vehicles that enable efficient and cost-effective transportation services is bolstering the growth of the market. Additionally, the growing demand for automotive AI due to the increasing focus on data analytics and real-time insights is positively influencing the market. Furthermore, the rising consumer preference for enhanced fuel efficiency and safety is strengthening the growth of the market.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Component:
- Hardware
- Software
- Services
Breakup by Technology:
- Machine Learning and Deep Learning
- Computer Vision
- Natural Language Processing
Breakup by Process:
- Data Mining
- Image Recognition
- Signal Recognition
Breakup by Application:
- Semi-Autonomous
- Autonomous
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Bayerische Motoren Werke AG
- Daimler AG
- Ford Motor Company
- Hyundai Motor Company
- Intel Corporation
- International Business Machines Corporation
- Micron Technology Inc.
- Microsoft Corporation
- NVIDIA Corporation
- Qualcomm Incorporated
- Tesla Inc.
- Toyota Motor Corporation
- Uber Technologies Inc.
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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