Press release
Automotive Artificial Intelligence Market by Component (Hardware, Software, and Service), Technology (Machine Learning & Deep Learning, Computer Vision, and Natural Language Processing), and Application (Semi-Autonomous and Autonomous)
Automotive Artificial Intelligence Market
According to a recent report published by Allied Market Research, titled, Automotive Artificial Intelligence Market by Component, Technology, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2024, the global automotive artificial intelligence market was valued at $445.8 million in 2017, and is projected to reach at $5,827.6 million by 2024, growing at a CAGR of 43.8% from 2018 to 2024.
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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.
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.
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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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.
Autonomous vehicles are gaining popularity globally due to various features such as automatic parking, self-driving, autopilot, and others, which minimizes human effort during driving. In addition, such autonomous vehicles are backed up by some of the biggest technologically sound companies such as Nvidia, Intel, and Tesla among others and hence the probability of failure is minimal. For instance, Teslas autopilot system which has features such as keeping the vehicle within a lane while driving, auto changing the lanes whenever required, self-parking, and others, is one of the most advanced system available in the market.
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 customers privacy are some of the major restraints in the market growth.
LIST OF TABLES
TABLE 01. GLOBAL AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONENT, 2017-2024 ($MILLION)
TABLE 02. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR HARDWARE, BY REGION, 2017-2024 ($MILLION)
TABLE 03. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR HARDWARE, BY TYPE, 2017-2024 ($MILLION)
TABLE 04. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR HARDWARE, BY SUB-TYPE, 2017-2024 ($MILLION)
TABLE 05. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR SOFTWARE, BY REGION, 2017-2024 ($MILLION)
TABLE 06. AUTOMOTIVE ARTIFICIAL INTELLIGENCEMARKET REVENUE FOR LEVEL THREE, BY REGION, 2020-2025 ($MILLION)
TABLE 07. GLOBAL AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 08. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR MACHINE LEARNING & DEEP LEARNING, BY REGION, 2017-2024 ($MILLION)
TABLE 09. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR COMPUTER VISION, BY REGION, 2017-2024 ($MILLION)
TABLE 10. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR NATURAL LANGUAGE PROCESSING, BY REGION, 2017-2024 ($MILLION)
TABLE 11. GLOBAL AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 12. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR SEMI-AUTONOMOUS, BY REGION, 2017-2024 ($MILLION)
TABLE 13. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR AFULLY UTONOMOUS, BY REGION, 2017-2024 ($MILLION)
TABLE 14. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY REGION, 2017-2024 ($MILLION)
TABLE 15. NORTH AMERICA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR COMPONENT, 2017-2024 ($MILLION)
TABLE 16. NORTH AMERICA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 17. NORTH AMERICA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR APPLICATION, 2017-2024 ($MILLION)
TABLE 18. NORTH AMERICA AUTOMOTIVE ARTIFICIAL INTELLIGENCEMARKET REVENUE, BY COUNTRY, 2017-2024 ($MILLION)
TABLE 19. U.S. AUTOMOTIVE ARTIFICIAL INTELLIGENCEMARKET REVENUE, BY COMPONENT, 2017-2024 ($MILLION)
TABLE 20. U.S. AUTOMOTIVE ARTIFICIAL INTELLIGENCEMARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 21. U.S. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 22. CANADA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONET, 2017-2024 ($MILLION)
TABLE 23. CANADA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 24. CANADA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 25. MEXICO AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONET, 2017-2024 ($MILLION)
TABLE 26. MEXICO AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 27. MEXICO AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 28. EUROPE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR COMPONENT, 2017-2024 ($MILLION)
TABLE 29. EUROPE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 30. EUROPE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR APPLICATION, 2017-2024 ($MILLION)
TABLE 31. EUROPE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COUNTRY, 2017-2024 ($MILLION)
TABLE 32. UK AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONENT, 2017-2024 ($MILLION)
TABLE 33. UK AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 34. UK AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 35. GERMANY AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONET, 2017-2024 ($MILLION)
TABLE 36. GERMANY AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 37. GERMANY AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 38. RUSSIA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONET, 2017-2024 ($MILLION)
TABLE 39. RUSSIA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 40. RUSSIA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 41. FRANCE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONET, 2017-2024 ($MILLION)
TABLE 42. FRANCE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 43. FRANCE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 44. REST OF EUROPE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONET, 2017-2024 ($MILLION)
TABLE 45. REST OF EUROPE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 46. REST OF EUROPE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 47. ASIA-PACIFIC AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR COMPONENT, 2017-2024 ($MILLION)
TABLE 48. ASIA-PACIFIC AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 49. ASIA-PACIFIC AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE FOR APPLICATION, 2017-2024 ($MILLION)
TABLE 50. ASIA-PACIFIC AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COUNTRY, 2017-2024 ($MILLION)
TABLE 51. CHINA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONENT, 2017-2024 ($MILLION)
TABLE 52. CHINA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 53. CHINA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 54. JAPAN AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONET, 2017-2024 ($MILLION)
TABLE 55. JAPAN AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 56. JAPAN AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 57. SOUTH KOREA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONET, 2017-2024 ($MILLION)
TABLE 58. SOUTH KOREA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY TECHNOLOGY, 2017-2024 ($MILLION)
TABLE 59. SOUTH KOREA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY APPLICATION, 2017-2024 ($MILLION)
TABLE 60. INDIA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, BY COMPONET, 2017-2024 ($MILLION)
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