Automotive Artificial Intelligence Market Size is anticipated to reach at a CAGR of 25.8% during the forecast period

 

By 2030, the size of the worldwide automotive artificial intelligence market is anticipated to reach USD 15,133.8 million, growing at a 25.8% CAGR. In 2021, the market is anticipated to be worth $2,412.7 million USD.

The demand for improved user experiences and convenience features, the rise in the usage of AI in consumer decision-making, and the expanding use of ADAS technology by OEMs are the main drivers of the automotive artificial intelligence market. Throughout the forecast period, rising premium vehicle demand is anticipated to present profitable prospects for the global market.

 

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SEGMENTATION ANALYSIS

The automotive artificial intelligence market has been divided into two categories based on offerings: hardware and software. During the forecast period, the software segment is anticipated to be the largest. Platforms and solutions are further divisions of the software market.

The automotive artificial intelligence market is divided into data mining, image recognition, and signal recognition segments based on method.

The human-machine interface, autonomous driving, autonomous driving processor chips, driver monitoring, identity authentication, and semi-autonomous driving segments of the automotive artificial intelligence market have been identified based on application. During the forecast period, the human-machine interaction segment is anticipated to be the largest.

The global automotive artificial intelligence market has been segmented into microprocessors (including ASIC), image sensors, memory and storage systems, field programmable gate arrays (FPGA), biometric scanners, graphics processing units (GPU), and others.

 

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REGIONAL ANALYSIS

The study analyses the automotive artificial intelligence market in Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa based on region. The largest market share among these areas is held by North America, followed by Europe. The regional market is expected to grow as a result of the automobile industry's increasing use of artificial intelligence-based solutions. The rising demand for cutting-edge car safety features is to blame for the market expansion in Europe.

The development of autonomous vehicles is anticipated to fuel demand for automotive AI, which is predicted to drive the market growth for automotive AI in North America.

COMPANIES COVERAGE

Leading companies hold bigger market shares in the competitive worldwide automotive artificial intelligence market. According to the report, some of the companies profiled include Alphabet Inc., Argo AI, Ather, Audi AG, BMW, CARVI, Daimler AG, Didi Chuxing, Ford Motor Company, General Motors Company, German Autolabs, Harman International Industries Inc., Honda Motor Co. Ltd., Hyundai Motor Corporation, IBM Corporation, iGlobe, Intel Corporation, Micron Technology, Microsoft Corporation, Mitsubishi Electric, Motional, Nauto, Nvidia Corporation, Qualcomm Inc.

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.                   

 

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