Press release
Automotive Artificial Intelligence Market Analysis, Share, Trend, Industry Report Forecast till 2032
Automotive Artificial Intelligence Market
The Automotive Artificial Intelligence Market is Valued USD 178.31472 Million in 2024 and projected to reach USD 3,257.8 billion by 2032, growing at a CAGR of 38.1% During the Forecast period of 2024-2032.
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The report presents authenticated data derived from extensive primary and secondary research. By analysing historical growth trends and the current market landscape, it aims to provide actionable insights and forecasts for global and regional market growth. It takes into account revenue generated from report sales and related technologies across various application segments while exploring market data tables. Key market factors, including macroeconomic conditions, the overall market environment, government policies, and the competitive landscape, are carefully examined to ensure a comprehensive analysis.
Top companies covered in this report: NVIDIA Corporation, Alphabet Inc., Intel Corporation, IBM Corporation, Microsoft Corporation, Harman International Industries Inc., Xilinx Inc., Qualcomm Inc., Tesla Inc, Volvo Car Corporation, BMW AG, Audi AG, General Motors Company, Ford Motor Company, Toyota Motor Corporation, Hyundai Motor Corporation, Uber Technologies Inc., Honda Motor Co. Ltd., Daimler AG, among others.
Industry News:
On January 8, 2024, Nvidia Corporation announced its NVDIA DRIVE Thor platform, a centralized car computer platform for the next generation of automobiles. The new platform is integrated with a wide range of intelligent functions in a single AI computer platform and offers AI cockpit functionality, driver & passenger monitoring, and autonomous driving and parking capabilities. The new platform is used by major EV manufacturers, including Great Wall Motor, Zeekr, Xiaomi EV, and others.
On January 24, 2024, Alphabet Inc. announced an update for its Android Auto system. The new update is expected to include AI features with the aim of reducing screen time while driving and is projected to majorly focus on reducing driver distraction. The new update is anticipated to include a voice recognition system, and the majority of the system is controlled via voice recognition. The system also navigates to shared locations with a single tap, without having to manually enter that location into Google Maps.
Automotive Artificial Intelligence Market Segmentation:
By Offering
Hardware
Software
By Technology
Deep Learning
Machine Learning
Context Awareness
Computer Vision
Natural Language Processing
By Process
Signal Recognition
Image Recognition
Data Mining
By Application
Human-Machine Interface
Semi-autonomous Driving
Autonomous Driving
Regional Analysis
North America (USA and Canada)
Europe (UK, Germany, France and rest of Europe)
Asia-Pacific (China, Japan, India, and Rest of Asia Pacific)
Latin America (Brazil, Mexico, and Rest of Latin America)
Middle East and Africa (GCC and Rest of the Middle East and Africa)
North America accounted for the largest market share in 2024, owing to increase in presence of AI system developers in the region. Furthermore, the region has witnessed an increase in demand for artificial intelligence in automobiles, surge in the level of vehicle automation, availability of high-end infrastructure, and the emergence of Internet of Things (IoT) technology. The North American region has witnessed a rise in investments by automobile manufacturers and government initiatives toward promotion and the development of automotive artificial intelligence technology. However, the Asia-Pacific region is anticipated to witness the fastest growth rate during the forecast period, owing to the rise in the adoption of artificial intelligence solutions by major automobile manufacturers. Furthermore, there is an increasing inclination of automakers towards self-driving vehicles, lower fuel emissions, and minimizing the chances of road fatalities, which are expected to enhance the market growth potential.
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Important Features of the reports:
- Detailed analysis of the Automotive Artificial Intelligence Market
- Fluctuating market dynamics of the industry
- Detailed market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of the Automotive Artificial Intelligence Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards Automotive Artificial Intelligence Market performance.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Automotive Artificial Intelligence Market.
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market.
Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market.
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Automotive Artificial Intelligence Market
How big will the market and growth rate be in 2032?
What are the key drivers for the global Automotive Artificial Intelligence Market?
What are the major market trends influencing the growth of the global Automotive Artificial Intelligence Market?
What are the challenges for market growth?
Who are the key vendors in the global Automotive Artificial Intelligence Market?
What market opportunities and threats are vendors facing in the global Automotive Artificial Intelligence Market?
What are the main findings of the five forces analysis of the global Automotive Artificial Intelligence Market?
Conclusion: At the end of the Automotive Artificial Intelligence Market report, all findings and estimates are presented. It also includes key drivers and opportunities and regional analysis. The Segmental analysis is also provided in terms of type and application.
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