Automotive Artificial Intelligence Market by Global Demand and Latest Technology 2021 to 2030

At an estimated value of over 2.49 billion USD in 2019, the global Automotive Artificial Intelligence (AI) market is predicted to thrive at a CAGR of 36.2% and valued at over USD 74.50 billion over the forecast year 2020-2030.

Fully autonomous as well as semi-autonomous vehicles use artificial intelligence to perform complex tasks such as face recognition, threat detection, image processing, vehicle localization and mapping etc., among others. Machine learning technology enables the vehicle in apprehending data, imitate the human mind and problem solving. Artificial Intelligence, along with other technologies such as Advance Driver Assistance System (ADAS), Adaptive Cruise Control (ACC) and Electronic Braking Distribution (EBD) make driving experience better and ensure advanced safety for both driver and passenger.

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Top Companies: NVIDIA Corporation, IBM Corporation, Intel Corporation, BMW, Toyota, Waymo, Otto Motors, Tesla Inc., Micron Technology and Microsoft Corporation among others.

Market Dynamics and Trends

The gaining popularity of autonomous vehicle globally, due to its safety and comfort features, along with a shift towards alternative fuel has propelled the growth of automotive artificial intelligence market. Also, artificial intelligence reduces the need of a driver in an autonomous vehicle, which eliminates driver wages and drastically minimizes the operational cost. These advantages, along with investments made by major market players are expected to further accelerate the automotive artificial intelligence market. Additionally, the increase in demand for premium vehicles with advanced systems and software is anticipated to create opportunities for the market players in the near future. However, an increase in cyber-crime activities as well as increase in consumer privacy concerns are expected to restrain the market growth

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Market Segmentations and Scope of the Study:

The global automotive artificial intelligence market share has been analyzed on the basis of technology, component, application and geography. On the basis of technology, the market is categorized into machine learning & deep Learning, computer vision, and natural language processing. On the basis of component, the market is segmented into hardware, software and service. Hardware is further sub segmented into processor, memory and networks. Additionally, processor is bifurcated into microprocessor and graphics processing unit. On the basis of application, the market is segmented into Semi-Autonomous and Fully Autonomous. Geographic fragmentation and analysis of each segment includes regions comprising North America, Europe, Asia Pacific and RoW.

Geographical Analysis

In terms of geography, North America holds the lion share in the Automotive AI market. The increased adoption of advanced technologies in this region along with the expansion of automotive industry will help this region to retain the major market share throughout the forecast period. In addition, Asia Pacific is expected to grow rapidly with the fastest growing CAGR due to growing consumer base in this region.

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