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Automotive Artificial Intelligence Market to Reach $5,827.6 Million, By Leading Industry Players NVIDIA Corporation, Waymo, Intel Corporation, IBM Corporation, Microsoft Corporation, Micron Technology, Otto Motors, BMW, Tesla Inc., and Toyota

02-21-2019 04:57 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research

Automotive Artificial Intelligence Market

Automotive Artificial Intelligence Market

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. North Americas is expected to dominate the global automotive artificial intelligence market during the forecast period, owing to rise in demand for autonomous vehicles. In 2017, China is projected to dominate the Asia-Pacific market. The U.S. is anticipated to lead the market in North America, whereas the UK led the European market in 2017.

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Artificial intelligence has been increasingly adopted by the automotive industry, which is among the major industries using AI to mimic the action of humans. Applications that incorporate AI systems in automotive are semiautonomous and autonomous vehicles. In autonomous vehicles, AI collects, processes, and chooses the specific action based on the information gathered. Semiautonomous and autonomous vehicles use several advanced tools such as long-range radar, LIDAR, cameras, short/medium radar, and ultrasound to gather information and understand the world around them. After collection of data through different tools, AI analyzes the situation through its technologies such as machine & deep learning, natural language processing, and computer vision. Artificial intelligence has several applications for these vehicles such as, incorporates speech recognition for advanced communication with passengers, directs vehicles towards refueling station or recharge station when it is running low on fuel and Analyzes less populated and congested roads among others.

At present, North America dominates this market. In 2017, China is expected to register the highest growth in Asia-Pacific. Similarly, the UK is expected to lead the overall market in Europe in 2017. In the same year, the U.S. is estimated to dominate the North American market.

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 & convenience features. However, the threat of hackers and rise in cybercrime are 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.

In 2017, based on component, the hardware segment is anticipated to dominate the global automotive artificial intelligence market, in terms of revenue. However, based on application, semiautonomous dominated the global market in the same year.

The report includes a micro-level study of different regions adopting automotive artificial intelligence for various application. In addition, it discusses the potential opportunities for market players to enter the market. Moreover, it provides an in-depth market analysis of automotive artificial intelligence, outlining current trends, key driving factors, and potential areas for product investments.

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The global automotive AI market is analyzed based on four regions, North America, Europe, Asia-Pacific, and LAMEA. Furthermore, the report highlights the competitive landscape of the key market players to increase their shares and sustain the intense competition in the industry. 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 AI market.

Analyst Review:

AI involves the science and engineering of intelligent computer programs. It uses various computer functions such reasoning, learning, and problem-solving based on human intelligence. AI systems are used in various disciplines such as biology, computer science, mathematics, linguistics, psychology, and engineering to build an intelligent system. Applications that incorporate the AI systems in automotive are semi-autonomous and autonomous.

By component, hardware segment was the dominant segment in 2017, and is anticipated to continue this trend during the forecast period. In addition, by technology, machine learning & deep learning, was the dominant segment in 2017. By application, the autonomous segment is anticipated to witness the highest growth rate during the forecast period.

North America accounted for the majority market share of the automotive artificial intelligence market in 2017, owing to rise in demand for autonomous vehicles.

LIST OF FIGURES

FIGURE 01. GLOBAL AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET, 2017-2024
FIGURE 02. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET, BY REGION, 2017-2024
FIGURE 03. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET: TOP INVESTMENT POCKETS
FIGURE 04. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 05. MODERATE BARGAINING POWER OF BUYERS
FIGURE 06. MODERATE THREAT OF NEW ENTRANTS
FIGURE 07. MODERATE -TO HIGH OF SUBSTITUTES
FIGURE 08. MODERATE-TO-HIGH COMPETITIVE RIVALRY
FIGURE 09. MARKET SHARE, 2017 (%)
FIGURE 10. GLOBAL AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET, BY COMPONET, 2017-2024
FIGURE 11. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET FOR HARDWARE, BY COUNTRY, 2017 & 2024 (%)
FIGURE 12. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET FOR SOFTWARE, BY COUNTRY, 2017 & 2024 (%)
FIGURE 13. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET FORSERVICES, BY COUNTRY, 2017 & 2024 (%)
FIGURE 14. GLOBAL AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET, BY TECHNOLOGY, 2017-2024
FIGURE 15. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET FOR MACHINE LEARNING & DEEP LEARNING, BY COUNTRY, 2017 & 2024 (%)
FIGURE 16. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET FOR COMPUTER VISION, BY COUNTRY, 2017 & 2024 (%)
FIGURE 17. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET FOR NATURAL LANGUAGE PROCESSING, BY COUNTRY, 2017 & 2024 (%)
FIGURE 18. GLOBAL AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION, 2017-2024
FIGURE 19. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET FOR SEMI-AUTONOMUS, BY COUNTRY, 2017 & 2024 (%)
FIGURE 20. COMPARATIVE SHARE ANALYSIS OF AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET FOR FULLY AUTONOMOUS, BY COUNTRY, 2017 & 2024 (%)
FIGURE 21. AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET, BY REGION, 2017-2024
FIGURE 22. NORTH AMERICA AUTOMOTIVE ARTIFICIAL INTELLIGENCEMARKET, BY COUNTRY, 2017-2024
FIGURE 23. US AUTOMOTIVE ARTIFICIAL INTELLIGENCEMARKET REVENUE, 2017-2024 ($MILLION)
FIGURE 24. CANADA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2017-2024 ($MILLION)
FIGURE 25. MEXICO AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2018-2024 ($MILLION)
FIGURE 26. EUROPE AUTOMOTIVE ARTIFICIAL INTELLIGENCEMARKET, BY COUNTRY, 2017-2024
FIGURE 27. UK AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2017-2024 ($MILLION)
FIGURE 28. GERMANY AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2017-2024 ($MILLION)
FIGURE 29. RUSSIA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2018-2024 ($MILLION)
FIGURE 30. FRANCE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2017-2024 ($MILLION)
FIGURE 31. REST OF EUROPE AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2018-2024 ($MILLION)
FIGURE 32. ASIA-PACIFIC AUTOMOTIVE ARTIFICIAL INTELLIGENCEMARKET, BY COUNTRY, 2017-2024
FIGURE 33. CHINA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2017-2024 ($MILLION)
FIGURE 34. JAPAN AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2017-2024 ($MILLION)
FIGURE 35. SOUTH KOREA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2018-2024 ($MILLION)
FIGURE 36. INDIA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2017-2024 ($MILLION)
FIGURE 37. REST OF ASIA-PACIFIC AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2018-2024 ($MILLION)
FIGURE 38. LAMEA AUTOMOTIVE ARTIFICIAL INTELLIGENCEMARKET, BY COUNTRY, 2017-2024
FIGURE 39. LATIN AMERICA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2017-2024 ($MILLION)
FIGURE 40. MIDDLE EAST AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2017-2024 ($MILLION)
FIGURE 41. AFRICA AUTOMOTIVE ARTIFICIAL INTELLIGENCE MARKET REVENUE, 2018-2024 ($MILLION)
FIGURE 42. NVIDIA: NET SALES, 2015-2017 ($MILLION)
FIGURE 43. NVIDIA: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 44. NVIDIA: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 45. ALPHABET INC.: NET SALES, 2015-2017 ($MILLION)
FIGURE 46. ALPHABET INC.: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 47. ALPHABET INC.: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 48. INTEL: NET SALES, 2015-2017 ($MILLION)
FIGURE 49. INTEL: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 50. INTEL: REVENUE SHARE BY GEOGRAPHY, 2016 (%)

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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