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Automotive Artificial Intelligence Market 2030 Key Business Strategies by Top 50 Companies in the World
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According to the report published by Allied Market Research, the global automotive artificial intelligence (AI) market garnered $445.8 million in 2017 and is expected to reach $8.88 billion by 2025, growing at a CAGR of 45.0% from 2018 to 2025. The report provides an extensive analysis of the key segments, changing trends, top-winning strategies, market size & projections, and competitive scenario.
Demand for better user experience & convenience features and surge in demand for autonomous vehicles drive the growth of the global automotive AI market. However, an increase in various security & privacy concerns restrains the growth up to a certain extent. On the other hand, the rise in demand for premium vehicles is expected to create numerous opportunities in the future.
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Based on the component, the hardware segment contributed nearly half of the total market in 2017 and will maintain its dominant position throughout the forecast period. On the other hand, the services segment is expected to register the highest growth rate with a CAGR of 47.8% from 2018 to 2025, owing to increase in requirement of hosting services including maintenance, integration, security, and others to resolve hosting issues.
Based on technology, the computer vision segment generated the highest market share in 2017, contributing nearly two-fifths of the total market share. This is due to the surge in the usage of machine learning and deep learning for developing self-driving vehicles. However, the natural language processing segment is expected to register the fastest CAGR of 47.0% from 2018 to 2025, owing to ease in the manipulation of texts and automatic identification of the voice, speech, and places.
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Based on the region, North America accounted for nearly two-fifths of the total market share in 2017 and is expected to maintain its lead position throughout the forecast period. This is due to an increase in demand for AI, rise in demand for automation, the emergence of the Internet of Things (IoT), and accessibility to high-end infrastructure.
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.
Press Release: Automotive AI Market is Expected to Grow at a CAGR of 45.0% from 2018 to 2025: AMR | https://www.globenewswire.com/news-release/2019/06/05/1864537/0/en/Automotive-AI-Market-is-Expected-to-Grow-at-a-CAGR-of-45-0-from-2018-to-2025-AMR.html
The global automotive AI market size 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.
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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.
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