Artificial Intelligence in Automotive Market: Anticipated to Grow at a Industry Analysis, Size, Share, Trends CAGR of 24.7% from 2024 to 2031

Rising demand for autonomous vehicles and advanced driver assistance systems (ADAS) are expected to drive the growth of the artificial intelligence in the automotive market during the forecast period. Major automakers are investing heavily in developing autonomous vehicles integrated with AI technologies. For instance, Tesla is a pioneer in developing semi-autonomous vehicles using computer vision and deep learning algorithms. Growing concern about road safety is also fueling the adoption of ADAS in new vehicles. Stringent safety regulations, particularly in developed nations for vehicle safety systems is anticipated to boost the sales of ADAS equipped vehicles. Furthermore, increasing partnerships between tech companies and automakers for the development of autonomous driving technologies will positively influence the market growth over the next few years.

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Increasing uptake and demand for autonomous vehicles is driving demand for artificial intelligence in the automotive market

The development of self-driving vehicles is pushing automakers to integrate more advanced artificial intelligence and machine learning capabilities into vehicles. As autonomous vehicle technology progresses, more cars will have the ability to drive themselves without human intervention in certain conditions or on certain roads. This is creating significant demand for AI computing power, computer vision systems, sensors and mapping technologies within vehicles. Automakers see autonomous driving as a major opportunity to not only reduce accidents caused by human error but also offer customers greater mobility options through self-driving taxi or ride-sharing services. As regulatory approval and social acceptance of autonomous vehicles increases around the world, more automakers and technology companies are investing heavily in developing advanced AI for self-driving cars.

Integration of AI for advanced driver-assistance systems enhances safety, comfort and convenience

Along with fully autonomous vehicles, increasing uptake of advanced driver assistance systems (ADAS) that incorporate artificial intelligence is another major driver of growth. Features such as adaptive cruise control, automatic emergency braking, lane keeping systems and advanced parking assistance use computer vision and AI to process data from sensors and cameras to detect obstacles and road markings. This helps minimize accidents, reduces driver fatigue and stress. AI-powered dashcams and sensors also help alert drivers to potential hazards. The convenience and safety benefits of ADAS have contributed to their growing adoption, not only in luxury vehicles but also more affordable models, spurring greater demand for integrated AI solutions.

Key Company Profiles:

Major players of global artificial intelligence in automotive market are Qualcomm Inc. (U.S.), Tesla Inc., Volvo Car Corporation, BMW AG, Audi AG (Germany), General Motors Company (U.S.), Ford Motor Company (U.S.), Toyota Motor Corporation (Japan), Hyundai Motor Corporation (South Korea), Uber Technologies Inc. (U.S.), and Apple Inc.

This Report lets you identify the opportunities in Artificial Intelligence In Automotive Market by means of a region:

⦿ North America (the United States, Canada, and Mexico)
⦿ Europe (Germany, UK, France, Italy, Russia and Turkey, etc.)
⦿ Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
⦿ South America (Brazil etc.)
⦿ The Middle East and Africa (North Africa and GCC Countries)

Shortage of skilled workforce restricts development of advanced automotive AI applications

While automakers and technology firms are investing heavily in building their artificial intelligence capabilities for automotive applications, a major challenge facing the industry is the shortage of data scientists, engineers and other professionals with expertise in AI, machine learning and deep learning. As the applications of artificial intelligence in vehicles become more complex, involving computer vision, sensor fusion and autonomous driving, automotive companies need to compete intensely with other sectors for top AI talent. The lack of a steady pool of skilled workers restricts the pace at which companies can develop cutting-edge automotive AI technologies. Significant resources and time need to be spent on recruiting, training and retaining AI experts. This skills gap acts as a restraint on how quickly automotive artificial intelligence can progress and be commercialized.

Growing need to analyze massive volumes of vehicle data creates opportunity for AI-based mobility services

Modern vehicles generate huge amounts of sensor and operational data in both autonomous and non-autonomous modes. Things like route history, mileage, diagnostics, road conditions, traffic patterns and driver behavior logs provide valuable insights that can guide improvements in transportation networks and mobility services. However, the scale of automotive data being produced is now too large for manual analysis. This has opened up opportunities for using artificial intelligence to glean actionable insights from vehicle data at scale. AI applications ranging from predictive maintenance and smart insurance to fleet optimization and autonomous logistics stands to immensely benefit businesses along with drivers. By partnering with vehicle manufacturers and mobility startups, automotive AI companies have a major chance to develop innovative mobility-as-a-service offerings.

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Research Scope

Scope - Highlights, Trends, Insights. Attractiveness, Forecast


Market Sizing - Product Type, End User, Offering Type, Technology, Region, Country, Others


Market Dynamics - Artificial Intelligence In Automotive Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain


Business Framework - Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments


Competitive Landscape - Artificial Intelligence In Automotive Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
Key questions answered in the report include:

ᗒ How Artificial Intelligence In Automotive Market industry market will boom in 2024?

ᗒ which are prominent key players will be growing the market?

ᗒ Which enterprise size accounted for the largest data center colocation market share?

ᗒ What is the Compound Annual Growth Rate(CAGR) of the market during the forecast period (2024-2031)?

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