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Rising Demand For Autonomous Vehicles Fuels Automotive Artificial Intelligence Market Growth Emerges as a Core Driver of the Automotive Artificial Intelligence Market in 2025
Automotive Artificial Intelligence Market
What Is the Expected CAGR for the Automotive Artificial Intelligence Market Through 2025?
The size of the automotive artificial intelligence market has seen significant growth recently. It is projected to expand from a worth of $3.75 billion in 2024 to a value of $5.22 billion in 2025, representing a compound annual growth rate (CAGR) of 39.1%. Factors contributing to the growth experienced in the historic period include the proliferation of connected cars and IoT within the automotive industry, the utilization of AI for predictive maintenance in vehicles, the incorporation of AI in the development of autonomous vehicles, and a heightened focus on personalization inside cars through AI.
What's the Projected Size of the Global Automotive Artificial Intelligence Market by 2029?
The market size for automotive AI is anticipated to experience significant expansion in the forthcoming years. It's projected to increase to $18.43 billion by 2029, with a CAGR of 37.1%. This growth during the predicted period is due to factors such as growing popularity and consciousness, increased demand for high-end vehicles and fully digitalized electric cars, integration of sensors and additional components in AI systems, and the introduction of software assistance to vehicles enabling full autonomy. Key trends for the forecasted period involve the creation of AI chips specifically tailored for automotive applications, a focus on understandable AI in automotive decision-making, the utilization of AI for gesture and emotion detection in vehicles, fleet management and logistics' adoption of AI, and the use of AI for superior human-vehicle interaction.
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Top Growth Drivers in the Automotive Artificial Intelligence Industry: What's Accelerating the Market?
The augmented interest in self-driving vehicles is predicted to drive the expansion of the automotive artificial intelligence market. The automotive sector has a broad spectrum of uses for artificial intelligence. As technological advancements emerge, the auto industry has leveraged these advancements to introduce novel methods of enhancing autonomous driving. One such implementation is the development of self-driving cars using artificial intelligence. A self-driving vehicle, also recognized as an autonomous or driverless car, is designed to journey to various destinations without the need for a human operator, thanks to an array of sensors, radars, cameras, and artificial intelligence. For instance, Deloitte's data points towards the global automotive AI market reaching an estimated total value of about $27 billion in 2025. Consequently, the escalating demand for autonomous cars accelerates the growth of the automotive artificial intelligence market.
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What Trends Will Shape the Automotive Artificial Intelligence Market Through 2029 and Beyond?
In the automotive artificial intelligence marketplace, leading corporations are prioritizing technological innovation, such as AI-enforced diagnostic platforms developed for the aftermarket segment of automobiles. This strategy aims to improve vehicle efficiency and manage maintenance in the aftermarket car segment more effectively. Meaning, an AI-enforced diagnostics system for the aftermarket car sector is a platform that uses artificial intelligence to scrutinize vehicular data and diagnose problems in cars beyond the warranty period of the manufacturer. For example, Mytvs-ki Mobility Solutions, a company based in India specializing in vehicle repair and maintenance, introduced an AI-driven diagnostic platform called Drivenostics, specifically for the aftermarket car sector, in August 2024. This service innovation allows customers to check their vehicles' health status via a network of around 1,000 service centers, in real-time. Drivenostics, which targets approximately 10-12 million vehicles, especially those exceeding 4 meters long, offers customized maintenance advice depending on AI-provided diagnostics.
What Are the Main 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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Which Top Companies are Driving Growth in the Automotive Artificial Intelligence Market?
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.
Which Regions Will Dominate the Automotive Artificial Intelligence Market Through 2029?
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
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