Global Automotive Artificial Intelligence Market Industry Trends, Estimation & Forecast, 2018 - 2025

The growth of the automotive artificial intelligence market is driven by a rise in demand for autonomous vehicles and an increase in preference for enhanced user experience and convenience features. However, the threat of hackers and the rise in cybercrime is expected to restrain market growth. On the contrary, the rise in demand for the premium vehicle segment is anticipated to provide lucrative growth opportunities for the market. 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 segments 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, Tesla’s 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 systems available in automotive artificial intelligence market. Moreover, autonomous vehicles are anticipated to significantly bring down the requirement of human intervention and be of vital importance in the industries which are suffering from low manpower for transportation purposes. This, in turn, is expected to drive the growth of the automotive AI market.

The automotive artificial intelligence market is expected to reach at $8,887.6 million by 2025, from $445.8 million in 2017, growing at a CAGR of 45.0% from 2018 to 2025.

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Global Automotive Artificial Intelligence market is segregated on the basis of Component as Hardware, Software, and Services. Based on Technology the global Automotive Artificial Intelligence market is segmented in Machine Learning & Deep Learning, Computer Vision, and Natural Language Processing. Based on End-User Industry the global Automotive Artificial Intelligence market is segmented in Semi-Autonomous, Autonomous, and Consumer electronics.

Based on the region, North America contributed to nearly two-fifth of the total market in 2017 and is expected to remain dominant throughout 2018-2025. The key factors that drive the growth of the North American market include the surge in demand for AI, an increase in the level of automation, availability of high-end infrastructure, and the emergence of the internet of things (IoT). North America to dominate the market during the forecast period. Asia Pacific the market is expected to gain from the implementation of AI in leading companies across China and India. Furthermore, the increasing use of AI for drug discovery is expected to give significant impetus to the overall 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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