Automotive Artificial Intelligence Software Market by Global Size, Trends and Research Analysis 2021 predicted to reach USD 53.98 billion by 2030

The Global Automotive Artificial Intelligence Software Market size is estimated to be USD 0.92 billion in 2019 and is predicted to reach USD 53.98 billion by 2030 with a CAGR of 44.8% from 2020-2030.

Automotive Artificial Intelligence Software is a system which is used for the altertion, process and functions and others to imitate human mind and absorbs the problem solving capacity automatically. This technology is mainly used in self driving vehicles and semi-autonomous vehicle to increase its operation efficiency and makes them more preferable as compared to conventional vehicles.

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Market Dynamics and Trends:

There have been various developments taken place over the period of time which includes technological advancements, development in infrastructure and systems and others. Furthermore, there have been evolution in the automotive industry with the combination of technology and flourishing automotive industry is further expected accelerate the growth of automotive artificial intelligence software market over the forecast period.

The other factors include increase in the demand of autonomous vehicle, increased demand of enhanced consumer experience, coupled with increase in the investment by major market players are further expected to support the growth of automotive artificial intelligence software. However, increase in cyber-crime and increase in privacy concerns are expected to inhibit the market growth. Moreover, increased demand of premium vehicle with advanced software and systems to increase its operation efficiency and friendly user interface is anticipated to create numerous opportunities in the automotive artificial intelligence software market in the near future.

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Market Segmentations and Scope of the Study:

The global automotive artificial intelligence software market share is analyzed on the basis of component, technology, application and geography. On the basis of component, the market is segmented into hardware, software, services. The hardware is sub segmented into processor, memory and network. The processor segment is further divided into Microprocessor (MPU) and Graphics Processing Unit (GPU). On the basis of technology, the market is divided into Machine Learning & Deep Learning, Computer Vision, and Natural Language Processing. On the basis of application, the market is fragmented into Semi-Autonomous and Fully Autonomous. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America is expected to hold the major market share owing to the increased adoption of advance technology coupled with increase in automotive industry over the forecast period. Furthermore, infrastructure development coupled with increased demand of autonomous vehicles is further expected to accelerate the growth of automotive artificial intelligence software market in the near future.

Asia Pacific is expected to show rapid growth with increasing market size owing to the fast developing automotive industry in the region which is further expected to expand the market. Moreover, increased adoption of advanced technology and increase in automation in vehicles are expected to support the market growth.

Competitive Landscape:

The automotive artificial intelligence software is highly competitive and also consists of various market players. Some of the major market players include NVIDIA Corporation, IBM Corporation, Micron Technology, Intel Corporation, BMW, Toyota, Waymo, Otto Motors, Tesla Inc., and Microsoft Corporation among others.

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