Press release
AI in Automotive Market Growth Projection 2020 by Key Companies: - Audi AG., Ford Motor Company, IBM Corporation, BMW AG, General Motors, Tesla, Uber Technologies and Volvo Car Corporation
AI in Automotive Market
Favorable government initiatives to promote the deployment of AI for smart traffic control has further enhanced the development of AI solutions for automotive industry. The U.K. government invested over USD 75 million to improve mobility and develop AI solutions in 2017.
Europe AI in automotive market accounted for more than 35% in the year 2019 due to the increase in demand for autonomous technologies in the region.
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Growing demand for assistive technologies for an increase in driving comfort and safety will foster AI in automotive market share in the forthcoming years. AI-powered vehicle systems are being heavily capitalized upon by the manufacturers as they have been launching new features in the vehicles that include lane assistance, adaptive cruise control and automated parking.
For instance, Toyota had announced the launch of driver assistance systems of level-4 to enable automatic valet parking in the cars that are going to be launched in the future. The technology has been built with Panasonic and has expensive sensors that offer affordable parking help solutions to all the Toyota customers.
Global AI in automotive market is expected to surpass USD 12 billion by 2026. There are several industry players that have been involved in the development of these technologies such as Audi AG., Daimler AG, Ford Motor Company, Harman International Industries, Inc., IBM Corporation, Microsoft Corporation, Alphabet Inc., BMW AG, Didi Chuxing, General Motors, Honda Motor Co., Ltd., Tesla, Uber Technologies and Volvo Car Corporation, among others.
These providers are primarily focused on long-term contracts and strategic collaborations with the other manufacturers to secure the market share. Technology providers like AMD, Intel and NVIDIA are constantly upgrading and introducing solutions as well as energy-efficient hardware enabling AI technologies that require low consumption of power.
Context awareness systems essentially offer situational intelligence with the help of multi-sensory input as well as enable all the onboard computers to detect and classify on-road issues such as traffic, road infrastructure and pedestrians. The system has been extremely beneficial to the customers as it deploys useful navigation, enabling a safe driving mode even when distracted.
Context awareness segment in AI in automotive market is predicted to experience more than 35% CAGR between 2019 and 2026 on account of the higher demand for semi-automated cruise control and driver assistance solutions.
Companies have been investing all sorts of innovative automotive technologies that also include context awareness. For example, Intel had announced that it will invest USD 250 million into the autonomous driving technology in 2016. This particular investment was mainly for key technologies like deep learning, security, connectivity and deep learning.
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Image/signal recognition technologies have the capability of recognizing the traffic signs as well as the speed limit indicators for lowering the vehicle speed sans any human intervention. Several government initiatives taken have been promoting traffic sign recognition that would ensure the adherence to speed limits, which will drive AI in automotive market forecast.
Some Points From Table Of Content: -
Chapter 5. AI in automotive market, By Component
5.1. Key trends, by component
5.2. Hardware
5.2.1. Market estimates and forecast, 2015 - 2026
5.3. Software
5.3.1. Market estimates and forecast, 2015 - 2026
5.4. Service
5.4.1. Market estimates and forecast, 2015 - 2026
Chapter 6. AI in automotive market, By Technology
6.1. Key trends, by technology
6.2. Computer Vision
6.2.1. Market estimates and forecast, 2015 - 2026
6.3. Context Awareness
6.3.1. Market estimates and forecast, 2015 - 2026
6.4. Deep Learning
6.4.1. Market estimates and forecast, 2015 - 2026
6.5. Machine Learning
6.5.1. Market estimates and forecast, 2015 - 2026
6.6. Natural Language Processing (NLP)
6.6.1. Market estimates and forecast, 2015 - 2026
Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/artificial-intelligence-ai-in-automotive-market
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