Global Artificial Intelligence (AI) in Automotive and Transportation Market Likely to grow at a CAGR of 20% during 2021-2026

According to the MarkNtel Advisors’ research report, “Global Artificial Intelligence (AI) in Automotive and Transportation Market Analysis, 2021," the market is likely to grow at a CAGR of around 20% during 2021-26. The growth of the market is attributable to the burgeoning demand for technologically advanced and innovative automotive solutions. The expansion of the automotive industry is likely to fuel the demand for artificial intelligence in the automotive industry.

Further, rising customer preference regarding efficiency, convenience, comfort, security, and safety offers a lucrative opportunity for vehicle manufacturers to integrate AI systems in their vehicles, thereby propelling the market growth.

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Key questions answered in the Study
1. What are the current & future trends in the "Global Artificial Intelligence (AI) in Automotive and Transportation" market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the "Global Artificial Intelligence (AI) in Automotive and Transportation" Market?
5. What is the customer orientation, purchase behavior, and expectations from the "Global Artificial Intelligence (AI) in Automotive and Transportation" market service providers across various regions?

Impact of COVID-19
Lockdown imposed in the wake of the spread of the COVID-19 pandemic, the automotive and transportation industry has been negatively impacted. However, the integration of AI in the automotive and transportation sector witnessed significant growth during this time as this has reduced the dependency on human labor and increased efficiency. Thus, AI-enabled vehicles helped in reducing the spread of viruses from one person to other. Therefore, post-COVID, the demand for AI in the automotive and transportation industry will increase owing to safety concerns.

“Global Artificial Intelligence (AI) in Automotive and Transportation Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Artificial Intelligence (AI) in Automotive and Transportation providers across the globe. Moreover, the report also encompasses the key strategic imperatives for the competitors' success and strategic factorial indexing measuring competitors' capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

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Europe Shows a Substantial Growth

Globally, Europe is likely to grow at a considerable rate in the "Global Artificial Intelligence (AI) Market for Automotive and Transportation" market during the forecast period due to the presence of leading automotive manufacturing industries in the region. These companies focus highly on offering automated features in most of their mass production vehicles, thereby pushing Europe as a global hub for AI-enabled vehicles. Thus, the region is likely to contribute to the growth of the "Global Artificial Intelligence (AI) in Automotive and Transportation" market in the forecast period, says MarkNtel Advisors’ in their research report, “Global Artificial Intelligence (AI) in Automotive and Transportation Market Analysis, 2021."

According to MarkNtel Advisors, the key industry leaders in the "Global Artificial Intelligence (AI) in Automotive and Transportation Market" are Nvidia Corporation, Denso Corporation, Harman International, Intel Corporation, Continental AG, Argo AI, AI Motive, Siemens, Thales Group, CarVi, Valeo, Optalert, Orbcomm Inc., and Visteon Corporation,

Market Segmentation:
1. By Application (Human-Machine Interface {Central Display, Instrument Cluster, Steering Mounted Control, Head-up Display}, Driver Monitoring {Physiological Measurement, Facial Movement and Eye Detection}, Driver/ Identity Authentication {Finger, Facial and Iris, Voice}, Autonomous Driving Processing Chips, Intelligent Traffic Management System)
2. By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Trucks, Heavy Buses)
3. By Component (Hardware, Software)
4. By Level of Autonomy (Level 1, Level 2, Level 3, Level 4, Level 5)
5. By Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, Deep Learning)
6. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa)
7. By Country (U.S, Canada, Brazil, Argentina, Mexico, Germany, France, The U.K, Spain, Italy, China, India, Japan, Australia, South Korea, UAE, Saudi Arabia, South Africa)
8. By Competitors (Continental AG, Denso Corporation, Nvidia Corporation, Intel Corporation, Harman International, AI Motive, Argo AI, Siemens, Thales Group, CarVi, Valeo, Optalert, Orbcomm Inc., Visteon Corporation)

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

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