DUBLIN, Sept. 23, 2022 /PRNewswire/ — The “Automotive Artificial Intelligence Market by Offering, Technology (Deep Learning, Machine Learning, Computer Vision, Context-aware Computing and Natural Language Processing), Process, Application, Component and Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s providing.
The world automotive synthetic intelligence market dimension is projected to develop from USD 2.3 Billion in 2022 to USD 7.0 Billion by 2027, it’s anticipated to develop at a CAGR of 24.1% from 2022 to 2027. The key components contributing to the expansion of the automotive synthetic intelligence market embody the rising adoption of ADAS know-how by OEMs and the growing use of AI to make shopping for selections.
Safety is turning into a first-rate concern by way of car options. A majority of accidents happen as a result of the motive force is both distracted or has misplaced focus because of drowsiness. The World Health Organization (WHO) estimates that roughly 1.3 million highway visitors deaths happen globally every year.
Several driver help methods have been developed to help the motive force and considerably cut back the variety of accidents. Such methods will warn inattentive drivers of approaching hazard and assist enhance security. Driver help methods have gained important significance over the previous few years. Hence, the demand for adaptive cruise management (ACC) and ADAS is growing. The pattern is estimated to proceed for the subsequent 5 years. The enhancing infrastructure, the growing battle of automobile producers to supply improved options, and the altering existence worldwide have boosted the general sale of premium passenger automobiles. However, past a sure diploma, these components is not going to affect the demand for driver help methods with automotive AI within the total market.
Increasing use of AI to make shopping for selections.
AI isn’t solely used within the manufacturing of automobiles and the supply of improved consumer experiences but in addition makes the method of shopping for and promoting automobiles extremely simple. Future buyer interface methods with AI capabilities could doubtlessly present suggestions for the most effective automobiles based mostly on the motive force’s insurance, well being, and penalties acquired. Next-generation vehicles can even obtain real-time data on visitors jams or some other emergency, and so they can use AI to construct detailed 3D photographs of precise roadways.
APAC is the fastest-growing area within the automotive synthetic intelligence market.
The automotive synthetic intelligence market within the Asia Pacific is predicted to develop on the highest CAGR from 2022 to 2027 owing to technological developments and monetary help from the federal government is predicted to propel the expansion of this market. Increasing inhabitants, enhancing existence, and rising economies have accelerated the tempo of passenger automotive demand within the Asia Pacific. China, Japan, India, and South Korea are the important thing international locations within the Asia Pacific area for the automotive synthetic intelligence market. Toyota (Japan), Hyundai Motor Company (South Korea), and Honda Motor Company (Japan)are among the many high corporations within the area working within the automotive synthetic intelligence market.
Market Dynamics
Drivers
- Growing Adoption of ADAS Technology by OEMs
- Rising Demand for Enhanced User Experience and Convenience Features
- Emerging Trend of Autonomous Vehicles
- Increasing Use of AI to Make Buying Decisions
Restraints
- Increase in Overall Cost of Vehicles
- Threat to Vehicle-Related Cybersecurity
- Inability to Identify Human Signals
Opportunities
- Increasing Demand for Premium Vehicles
- Growing Need for Sensor Fusion
- High Potential of In-Car Payments
Challenges
- Difficulty in Maintaining Cost-Quality Balance
- Effect of Unfavorable Weather on Sensors
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Automotive Artificial Intelligence Market, by Offering
7 Automotive Artificial Intelligence Market, by Technology
8 Automotive Artificial Intelligence Market, by Process
9 Automotive Artificial Intelligence Market, by Application
10 Automotive Artificial Intelligence Market, by Component
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
14 Appendix
Companies Mentioned
- Alphabet Inc.
- Argo AI
- Ather
- Audi Ag
- Automotive Artificial Intelligence (AAI) GmbH
- Bayerische Motoren Werke Ag
- Carvi
- Daimler Ag
- Didi Chuxing
- Ford Motor Company
- General Motors Company
- German Autolabs
- Harman International Industries, Inc.
- Honda Motor Co. Ltd.
- Hyundai Motor Co., Ltd
- Igloble
- Intel Corporation
- International Business Machines Corporation
- Micron Technology
- Microsoft Corporation
- Mitsubishi Electric
- Motional
- Nauto
- Nvidia Corporation
- Qualcomm Inc.
- Refraction AI
- Rivigo
- Sapientx
- Soniclue
- Tesla, Inc.
- Toyota Motor Corporation
- Tractable
- Uber Technologies, Inc
- Volvo Cars
- Xilinx, Inc.
- Zoox
For extra details about this report go to https://www.researchandmarkets.com/r/evtv2a
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Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets
