Automotive Artificial Intelligence Market Size to Expand with 10% CAGR till 2023 with Eminent Players as Qualcomm, Tesla, Volvo Car, BMW, Audi, General Motors Company, Ford Motor Company, Toyota Motor

Automotive Artificial Intelligence Market

The penetration of artificial intelligence has become increasingly prevalent due to its diverse applications. The automotive artificial intelligence is a step of automobiles achieving a futuristic nature. Market reports related to the automobile industry have been made available by Market Research Future who issues reports on other sectors that have been presently published along with a report on this industry. The market is set to develop at a 10% CAGR over the course of the forecast period.

The rising demand for automating every aspect of daily life is one of the main motivators for the development of the market for artificial intelligence in automobiles. The growing level of distances that individuals have to cover on a daily basis are also motivating the developments in the market. Furthermore, the need for urban mobility is expected to add to the overall development of the market in the forecast period.

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Segmental Analysis

The segmentation of the market is carried out on the basis of technology, process, application and regions. On the basis of technology, the market is segmented into machine learning, deep learning, computer vision, context awareness, and natural language processing. The segmentation of the market on the basis of process consists of image recognition, signal recognition, and data mining. The application segment of the market consists of semi-autonomous driving, human–machine interface and autonomous driving. On the basis of regions, the market is segmented into North America, APAC, Europe, the Middle East, Africa, And Latin America.

Detailed Regional Analysis

By 2023, the North American region is anticipated to be a vital region in the market primarily owing to the occurrence of major manufacturers in this region. Moreover, accessibility to sophisticated technology to grow artificial intelligence programs are accessible without trouble in this region in relation to others. Growing acceptance of autonomous vehicles in the U.S. has appreciably added towards the progress of the market for automotive artificial intelligence in this region. Promising government norms together with companies such as General Motors, Ford Motor Company, and Fiat-Chrysler Automotive are leading the charge in the progress of artificial intelligence in automotives by regularly enhancing their product which will have an optimistic effect on the market.

Competitive Analysis

The state of affairs for progress plans has encouraged the market for possible new entrants. The variations observed in terms of strategy execution and creation are changing the development pace of the market. The development in the products and services is the leading factor intensifying the market's efficiency and governing the trends that are getting note in the market. The deficiencies in the market are met due to the implementation of proper supply chain strategies. Also, the launch of new products and services will add impetus to the market advancement. The important success factors and players’ preferences are reliably growing by the strategies being used by market challengers.

The noteworthy competitors in the market for Automotive Artificial Intelligence globally are Tesla Inc. (US), Volvo Car Corporation (Sweden), Qualcomm Inc. (US), Audi AG (Germany), General Motors Company (US), Hyundai Motor Corporation (South Korea), Uber Technologies Inc. (US), Ford Motor Company (US), Toyota Motor Corporation (Japan) and BMW AG (Germany),

Industry Updates:

Sep 2018 Mercedes-Benz has teamed up with SoundHound to combine its Houndify voice-enabled artificial intelligence into the car’s newest infotainment system. The Mercedes-Benz User Experience (MBUX) system, will allow tailored voice control with natural language understanding and will be available in Mercedes A-Class vehicles in the North American market.

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This release was published on openPR.