Press release
Global Automotive Artificial Intelligence Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Automotive Artificial Intelligence
What Is the Automotive Artificial Intelligence Market Size and Projected Growth Rate?
In recent times, the size of the automotive artificial intelligence market has seen significant growth. It is projected to increase from $3.75 billion in 2024 to $5.22 billion in 2025, flaunting a compound annual growth rate (CAGR) of 39.1%. The increased use of connected cars and Internet of Things (IoT) in the automotive industry, the application of artificial intelligence for predictive maintenance in vehicles, the utilization of AI in the development of self-driving vehicles, and a growing focus on AI-driven in-car personalization have all contributed to the expansion seen in the historic period.
The market size of automotive artificial intelligence is predicted to witness a substantial increase in the coming years, swelling to $18.43 billion by 2029 with a 37.1% compound annual growth rate (CAGR). This projected growth during the forecast period can be associated with the surge in popularity and awareness, a growing market for luxury cars, an increase in demand for thoroughly digitalized electric vehicles, the incorporation of sensors and other elements into AI systems, and the advent of software solutions in vehicles that enable full self-operation. Key trends for this period entail the creation of AI chips precisely designed for vehicle applications, focus on understandable AI in automotive decision-making procedures, incorporation of AI for gesture and sensation identification in vehicles, the adoption of AI in managing fleet and logistics, as well as the application of AI to improve the interaction between humans and machines in vehicles.
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What Are the Major Segments in the Automotive Artificial Intelligence Market?
The automotive artificial intelligence market covered in this report is segmented -
1) By Component: Hardware, Software, Service
2) By Type: Automatic Drive, ADAS
3) By Process: Signal Recognition, Image Recognition, Data Mining
4) By Technology: Deep Learning, Machine Learning, Context Awareness, Computer Vision, Natural Language Processing
Subsegments:
1) By Hardware: Processors And Microcontrollers, Sensors (LiDAR, Cameras, Radar), Edge Computing Devices, Connectivity Modules
2) By Software: Machine Learning Algorithms, Computer Vision Software, Natural Language Processing (NLP), Autonomous Driving Software, Predictive Analytics Tools
3) By Service: AI Integration Services, Data Management And Analytics Services, Maintenance And Support Services, Consulting Services
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What Are The Driving Automotive Artificial Intelligence Market Evolution?
The escalating interest in self-driving vehicles is predicted to boost the expansion of the automotive artificial intelligence industry. The automotive sector has various applications of artificial intelligence and has leveraged advancements in this technology to create innovative solutions for more automated driving. One remarkable application is in the production of autonomous cars. Such cars, also referred to as driverless cars, navigates to destinations without requiring a human driver, employing a combination of sensors, radars, cameras, and artificial intelligence. For instance, Deloitte predicts that by 2025, the worldwide automotive AI market would reach a total value of about $27 billion. Accordingly, the surging demand for autonomous vehicles contributes to the progression of the automotive artificial intelligence market.
Which Firms Dominate The Automotive Artificial Intelligence Market Segments?
Major 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., Qualcomm Inc., Tesla Inc., Volvo Car Corporation, Micron Technology Inc., Toyota Motor Corporation, Uber Technologies Inc., Arbe Robotics Ltd., Cerence Inc., Cognata Ltd., Optibus Ltd., Pony. ai Inc., Seeing Machines Ltd., Anduril Industries Inc., Nauto Inc., Veritone Inc., Matterport Inc., Iterative Health LLC, Piaggio Fast Forward Inc., Radar Inc.
What Trends Are Expected to Dominate the Automotive Artificial Intelligence Market in the Next 5 Years?
The automotive artificial intelligence market is witnessing significant advancements as major companies are concentrating on technological innovation, such as an AI-driven diagnostics platform specially designed for the aftermarket automobile segment. This platform, using artificial intelligence, analyses vehicle data followed by an evaluation of problems in vehicles that are no longer covered by the manufacturer's warranty. For example, in August 2024, Mytvs-ki Mobility Solutions, a vehicle repair and support company based in India, launched an AI-operated diagnostics platform called Drivenostics for the aftermarket automobile section. This inventive service allows consumers to track the real-time health of their car through a chain of 1,000 service outlets. With a focus on approximately 10-12 million vehicles, especially those over 4 meters long, Drivenostics can provide customers with custom maintenance suggestions based on the AI-powered diagnostic results.
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Which Is The Largest Region In The Automotive Artificial Intelligence Market?
North America was the largest region in the automotive artificial intelligence market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Artificial Intelligence Market?
2. What is the CAGR expected in the Automotive Artificial Intelligence Market?
3. What Are the Key Innovations Transforming the Automotive Artificial Intelligence Industry?
4. Which Region Is Leading the Automotive Artificial Intelligence Market?
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