Home Latest Reports Automotive Artificial Intelligence Market Automotive Artificial Intelligence Market by Component (Hardware, Software, and Service), Technology (Machine Learning & Deep Learning, Computer Vision, and Natural Language Processing), and Ap

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.

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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.

The growth of the automotive artificial intelligence market is driven by rise in demand for autonomous vehicles and increase in preference for enhanced user experience and convenience features. However, the threat of hackers and rise in cybercrime is expected to restrain the market growth. On the contrary, rise in demand for the premium vehicle segment is anticipated to provide lucrative growth opportunities for the market.

NVIDIA Corporation, Waymo, Intel Corporation, IBM Corporation, Microsoft Corporation, Micron Technology, Otto Motors, BMW, Tesla Inc., and Toyota are some of the key players operating in the global automotive artificial intelligence market.

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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.

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.

Key Benefits:

• This report studies the global automotive artificial intelligence market with current trends and future estimations to portray the imminent investment pockets.
• The overall 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 market is quantitatively analyzed from 2017 to 2024 to highlight the financial competency of the market.
• Porters five forces analysis illustrates the potency of the buyers and suppliers in the industry.

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