Press release
Artificial Intelligence In Automotive: Accelerated Market Growth Predicted with a CAGR of 61.5%, Major Trends and Drivers in View for 2025
Artificial Intelligence In Automotive Market Outlook
What Is The Projected Market Size Of The Global Artificial Intelligence In Automotive Market And Its Growth Rate?
•The artificial intelligence in automotive market has grown significantly from $10.88 billion in 2024 and is projected to reach $17.56 billion in 2025, marking a compound annual growth rate (CAGR) of 61.5%.
•Predictions suggest a surge to $98 billion by 2029 at a CAGR of 53.7%.
•The growth is driven by factors such as increasing demand for autonomous vehicles, user convenience experiences, AI implementation in automotive supply chains, and noteworthy advancements in computer vision.
What Is Driving The Growth In The Artificial Intelligence In Automotive Market?
The surge in demand for autonomous vehicles serves as a primary driver for the growth of artificial intelligence in the automotive market. These vehicles integrate AI to interpret surroundings, make decisions, and control the vehicle without human intervention. According to the National Highway Traffic Safety Administration, it's expected that by 2025 there will be 3.5 million self-driving vehicles on U.S. roads, which will increase to 4.5 million by 2030. Thus, this rise in the autonomous vehicles paves the way for accelerated growth in the AI automotive market.
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Who Are the Key Players Driving Artificial Intelligence In Automotive Market Growth?
•Alphabet Inc.
•Toyota Motor Corporation
•Microsoft Corporation
•Ford Motor Company
•General Motors Company
•Bayerische Motoren Werke AG
•Honda Motor Co. Ltd.
•Tencent Holdings Ltd.
•Tesla Inc.
•Intel Corporation
•The International Business Machines Corporation (IBM)
•Audi AG
•Volvo Cars
•AB Volvo
•Qualcomm Technologies Inc.
•The Mercedes-Benz Group AG
•Mitsubishi Electric
•Uber Technologies Inc.
•Micron Technology Inc.
•NVIDIA Corporation
•Harman International Industries Inc.
•Waymo LLC
•Xilinx Inc.
•Argo AI
•Cognata ltd
What Are The Key Trends In The Artificial Intelligence In Automotive Market?
•Advancements in autonomous driving
•Personalized user experiences
•Predictive maintenance
•Enhancements in vehicle connectivity
•Integration of natural language processing (NLP)
What Are The Segments Of Artificial Intelligence In Automotive Global Market?
•By Component: Hardware, Software, Services
•By Process: Data Mining, Image Or Signal Recognition
•By Technology: Computer Vision, Context Awareness, Deep Learning, Machine Learning, Natural Language Processing (NLP)
•By Application: Semi-Autonomous vehicles, Fully-Autonomous Vehicles
Which Region Leads The Artificial Intelligence In Automotive Market?
North America held the largest market share for artificial intelligence in automotive in 2024. However, Asia-Pacific is expected to see the fastest growth during the forecast period. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Artificial Intelligence In Automotive Global Market Report?
•Market Size Analysis: Analyze the Artificial Intelligence In Automotive size by key regions, countries, product types, and applications.
•Market Segmentation Analysis: Identify various subsegments within the Artificial Intelligence In Automotive 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 Artificial Intelligence In Automotive growth.
•Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
•Industry Challenges: Analyze challenges and risks affecting the Artificial Intelligence In Automotive.
•Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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