Press release
Artificial Intelligence in Automotive Market Perspective And Trends, Market Size 2026 | Top Players Qualcomm, Tesla, Volvo Car Corporation, BMW AG, Audi AG, General Motors, Ford Motor
Artificial Intelligence is increasingly being adopted in the automotive sector, in order to reduce human errors and human intervention. Artificial intelligence autonomously enhances visual perception, decision making, and speech recognition. The increasing government regulations for vehicle safety become one of the major driver for the growth of the market.Request PDF Brochure for Sample Purpose @ https://www.coherentmarketinsights.com/insight/request-pdf/1347
Increasing demand for autonomous vehicles is a major factor driving growth of the artificial intelligence in automotive market
Increasing demand for autonomous vehicles is expected to support growth of the artificial intelligence in automotive market. Increasing number of road accidents and fatal injuries, due to human errors has led to increasing demand for autonomous vehicles. For instance, according to the World Health Organization (WHO), 2015, fatalities of 1.25 million people were reported and 50 million people were injured, due to road accidents globally. Therefore, using autonomous vehicles could reduce accidents due to human errors. Key automakers are focusing on developing autonomous vehicles, which is expected to aid in growth of the market.
Deep learning segment is expected to hold the largest share in the market over the forecast period
Deep learning segment held the largest share in 2016 and is projected to retain its dominance throughout the forecast period. Increasing use of deep learning by automotive manufacturers such as Audi, Delphi, Ford, and Volkswagen for various applications such as data analysis, speech recognition, image processing has led to growth of this segment.
The global artificial intelligence market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, and Middle East, and Africa. North America is expected to account for the largest market share in the artificial intelligence in automotive market over the forecast period. This is due to existence of government initiatives regarding the enhancement of the automotive vehicles. For instance, in 2016, the US government has invested US$ 4 billion for autonomous vehicles. Also, high presence of market leaders such as Qualcomm Inc., Ford Motor Company, and General Motors Company is another factor for growth of this market. U.S. and Canada are the growth engines in North America.
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Major players of global artificial intelligence in automotive market are Qualcomm Inc. (U.S.), Tesla Inc., Volvo Car Corporation, BMW AG, Audi AG (Germany), General Motors Company (U.S.), Ford Motor Company (U.S.), Toyota Motor Corporation (Japan), Hyundai Motor Corporation (South Korea), Uber Technologies Inc. (U.S.), and Apple Inc.
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