Press release
Automotive Artificial Intelligence Market Size, Share, Trends, Growth, Forecast to 2034
Automotive Artificial Intelligence Market
Exponential Rise Projected in Global Automotive Artificial Intelligence Market: What Does This Mean?
The automotive artificial intelligence market has experienced an exponential growth in recent years, with significant increases projected:
• Growth from $3.75 billion in 2024 to $5.22 billion in 2025 with a compound annual growth rate (CAGR) of 39.1%, attributed to the rise of connected cars and IoT in the automotive industry, adoption of AI for predictive maintenance in vehicles, and focus on in-car personalization through AI.
• An anticipated rise to $18.43 billion in 2029 at a CAGR of 37.1%, driven by increasing popularity of AI, rising demand for premium and fully digitalized electric vehicles, as well as trends including the development of AI chips specifically for automotive applications and use of AI for enhanced human-machine interaction in vehicles.
What Is Driving The Growth In The Automotive Artificial Intelligence Market?
The growth of the automotive artificial intelligence market is largely propelled by the growing demand for autonomous vehicles. With evolving technology, the automobile industry has leveraged discoveries to create more autonomous driving experiences, one of which involves the use of artificial intelligence in developing self-driving vehicles. These vehicles, employing sensors, radars, cameras, and artificial intelligence, can navigate to locations without the need for a human driver. For instance, Deloitte projects the global automotive AI market to reach around $27 billion in 2025. Consequently, the rise in demand for autonomous cars significantly drives the growth of automotive artificial intelligence.
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Who Are the Key Players Driving Automotive Artificial Intelligence Market Growth?
Significant companies operating in the automotive artificial intelligence market include:
• DiDi Chuxing Technology Co. Ltd.
• Otto Motors
• Waymo LLC
• Microsoft Corporation
• Intel Coroporation
• NVIDIA Corporation
• BMW AG
• International Business Machines Corporation
• Harman International Industries Inc.
• Xilinx Inc.
What Are The Key Trends In The Automotive Artificial Intelligence Market?
Key trends in the automotive artificial intelligence market include:
• Development of AI chips specifically for automotive applications
• Emphasis on explainable AI in automotive decision-making
• Integration of AI for gesture and emotion recognition in vehicles
• Adoption of AI in fleet management and logistics
What Are The Segments Of The Global Automotive Artificial Intelligence Market?
The global automotive artificial intelligence market is segmented by:
1) Component: Hardware, Software, Service
2) Type: Automatic Drive, ADAS
3) Process: Signal Recognition, Image Recognition, Data Mining
4) Technology: Deep Learning, Machine Learning, Context Awareness, Computer Vision, Natural Language Processing
Which Region Leads The Automotive Artificial Intelligence Market?
North America held the most significant share in the automotive artificial intelligence market in 2024 while Asia-Pacific is expected to be the fastest-growing region in the forecast period. The market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Automotive Artificial Intelligence Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Artificial Intelligence Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Artificial Intelligence Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Artificial Intelligence Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Artificial Intelligence Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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