Global Automotive Artificial Intelligence (AI) Market Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts to 2030

AI system is used in the automotive sector in order to achieve a self-driving vehicle.The machine which has the ability to perform cognitive functions which include perceiving, learning, solving problem and reasoning is expected to have Artificial Intelligence. Currently, the application of AI is spreading rapidly within various sectors. The automotive sector is also adopting this technology. There are many assets of using AI in the automobile, some of the assets are elimination of the human operator which further eliminates the human error and cost of human operator, proper utilization of AI in automobile will improve road safety owing to better accuracy & precision, and AI can communicate with other devices such as LIDAR or Radar systems in order to achieve zero error during the operation. With all the above advantages today every automaker is focused on the use of AI in their vehicles. The AI-enabled vehicles will be having an ability to choose the best shortest path or best route, fuel status, Emergency control, and others. AI is also used in the Robo taxi concept which is implemented by Uber technologies ltd. currently, the Robo taxi project is in testing and development phase and expected to be available for commercial use soon. Owing to all the above factors the market accounted 24618.9 Million in 2020 and is expected to reach 34035.63464 million USD by 2030 with CAGR of 38.25% in upcoming years.
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Market Dynamics and Factors:
An increase in demand for autonomous vehicles and their growing popularity combined with the growing electric car market are some major factors which are supporting the market growth. Benefits of AI in road safety by reduction of accidents and choosing the best route to reach the destination are expected to boost the market further. A rise in demand of the luxurious and premium vehicles with high-end performance is also the fueling factor for the market. All the Automotive giant such as Toyota, Tesla, and other companies are investing in AI technology which will boost the market in upcoming years. However, growing cybercrimes and elimination of human operators which hinders employment are the few restraining factors of the market. Advancement in AI technology will create enormous opportunities in the years to come.
Market Segmentation:
Global Automotive Artificial Intelligence (AI) Market – By Components
Hardware
Software
Global Automotive Artificial Intelligence (AI) Market – By Technology
Machine Learning & Deep Learning
Computer Vision
Natural Language Processing
Global Automotive Artificial Intelligence (AI) Market – By Application
Semi-Autonomous
Autonomous
Global Automotive Artificial Intelligence (AI) Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America is leading the market and it is expected to continue its supremacy during the forecast period. With the advancement in technology within the region. In addition to this, the presence of the major key players such as Tesla, Uber, and others further assist the growth of the market. Europe is also expected to witness rapid growth with the presence of automotive giants in the region such as Volkswagen, Audi, BMW, and others. Growing preference and popularity of the autonomous vehicles within the region will also propel the growth. The Asia Pacific will experience significant growth during the upcoming years due to the growing interest of the populace in electric vehicles equipped with advanced technology.
Competitive Scenario:
Some of the key players in the automotive AI sector are Waymo, Intel Corporation, NVIDIA Corporation, IBM Corporation, Micron Technology, Microsoft Corporation, BMW, Tesla Inc., Otto Motors and Toyota.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Automotive Artificial Intelligence (AI) industry, although key threats, opportunities and disruptive technologies that could shape the Global Automotive Artificial Intelligence (AI) Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Automotive Artificial Intelligence (AI) Market most.
The data analysis present in the Global Automotive Artificial Intelligence (AI) Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Automotive Artificial Intelligence (AI) Market business.
The 2021 Annual Global Automotive Artificial Intelligence (AI) Market offers:
100+ charts exploring and analysing the Global Automotive Artificial Intelligence (AI) Market from critical angles including retail forecasts, consumer demand, production and more
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Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Automotive Artificial Intelligence (AI) Market type
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