Automotive Artificial Intelligence Market SizeAnd Forecast
AutomotiveArtificial Intelligence Market was valued at USD 2082.38 Million in 2020 and isprojected to reach USD 17402.00 Million by 2027, growing at a CAGR of 38.68% from2021 to 2027.

Expansionof the automotive industry is expected to drive the demand for automotiveartificial intelligence. The Automotive Artificial Intelligence Market islikely to expand at a significant pace during forecast period owing to theadvent of various advanced features and expansion of the service sector forautomotive application. The Global Automotive Artificial Intelligence Marketreport provides a holistic evaluation of the market. The report offers acomprehensive analysis of key segments, trends, drivers, restraints,competitive landscape, and factors that are playing a substantial role in themarket.

GlobalAutomotive Artificial Intelligence Market Definition
Artificialintelligence (AI) is one of the most progressive technologies in computerscience. It is associated with human intelligence through similarcharacteristics such as language understanding, reasoning, learning, problemsolving, and others. Manufacturers in the market witness enormous underlyingintellectual challenges in the development and revision of the technology. Inaddition, the growth in automotive industry is expected to drive the AutomotiveArtificial Intelligence Market. Automotive industry has experienced the promiseof artificial intelligence and is among the major industries using AI toaugment and mimic the action of humans.

Furthermore, emergence of standards such asadvanced driver assistance system (ADAS), adaptive cruise control (ACC), blindspot alert, and growth in demand for convenience features attract automotivevendors towards AI. Artificial intelligence (AI) systems are used to alter,process, and function data and algorithms to imitate the intellectual functionsof the human mind, and gain the capacity to absorb and resolve problemsautomatically. Vehicles with self-driving features are more likely to adoptsuch systems to improve their efficiency and functioning.

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GlobalAutomotive Artificial Intelligence Market Overview
AutonomousVehicles is fueling the growth of Automotive Artificial Intelligence Market.The autonomous vehicles are differentiated on the basis of the level of theirautonomy. Level 5 represents the fully autonomous vehicles that require nohuman intervention for safe operation. Currently, majority of autonomousvehicles on the roads such as Cadillac CT6 and Audi A8 belong to level 2 andlevel 3 category and they are able to perform at least two functionssimultaneously but require a human driver for safe operation. Autonomousvehicles use a large number of various components. For instance, Google’sself-driving prototype vehicles use radar, lasers, sonar and cameras. Uber’sprototypes make use of nearly 64 laser beams and an array of sensors.

Thesesensors collect data from the environment and sends it to the software whichprocesses the input and sends processed signals to the actuators which controlthe functions such as braking and acceleration. Through Predictive Analytics,autonomous vehicles can predict the movements of objects in the vicinity of thevehicle. For example, Waymo can anticipate beforehand about the movement ofpedestrians on the streets and vehicle movements on various lanes. Sharedmobility companies such as DiDi Chuxing is using predictive analytics toanticipate the type of transportation required and the desired quantity anddispatches suitable vehicles according to the need.

Inaddition, The AI in automotive market growth is attributed to the increasingpopularity of autonomous vehicles for increased driver comfort and reducingaccidents. The U.S. National Highway Traffic Authority has estimated that thedeployment of autonomous vehicles could save USD 300 billion by 2025, reducingcollisions and enabling safe driving. The increasing positive perception amongconsumers regarding autonomous technologies will complement the market revenue.As consumers are rapidly adopting driver-assist technologies to reduce drivingburden and ensure road safety, the demand for autonomous vehicles will surgeprolifically over the forecast timespan. Automotive manufacturers are takingnote of these trends and are offering innovative driver assistance solutions togain a competitive advantage.

InMarch 2019, BMW and Daimler entered into a strategic collaboration to developnew ADAS solutions and establish industry standards to influence futureregulations on driver assistance technologies. Another factor contributing tothe AI in automotive market share is the increasing demand for driverconvenience and improving access to mobility. Autonomous technologies can helppersons with disabilities and senior citizens have access to self-drivenmobility, reducing long-distance truck & bus driver fatigue.

However,the threat of hackers and rise in cybercrime is expected to restrain the marketgrowth. For instance, around 1.4 million Fiat Chryslers were recalled in the USdue to a glitch in their dashboard computers that permitted hackers to disablethe vehicle. Similarly, white hat hackers were successful in implanting malwareinto the system of a Tesla car. These instances of intruding customer’s privacyare some of the major restraints in the market growth. On the contrary, rise indemand for the premium vehicle segment is anticipated to provide lucrative growthopportunities for the market.

GlobalAutomotive Artificial Intelligence Market Segmentation Analysis
TheGlobal Automotive Artificial Intelligence Market is Segmented on the basis ofTechnology, Process, Application, and Geography.

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AutomotiveArtificial Intelligence Market, By Technology
•Computer Vision
• Context Awareness
• Deep Learning
• Machine Learning
• Natural Language Processing

Basedon Technology, the market is bifurcated into into deep learning, machine learning,context awareness, computer vision, and natural language processing. Deeplearning technology is expected to be the largest and the fastest-growingtechnology. Many companies are investing in the development of self-drivingcars in which the deep learning technology is used for image processing, speechrecognition, and data analysis. For instance, Google is heavily investing inautonomous vehicles through its spin-off Waymo and has an active systemintegrated into its self-driving vehicle with the deep learning technology todetect pedestrians in different situations.

AutomotiveArtificial Intelligence Market, By Process
•Data Mining
• Image Recognition
• Signal Recognition

Basedon Process, the market is bifurcated into signal recognition, image recognition,and data mining. Data is collected from different sensors used in asemi-autonomous or autonomous vehicle, which can be used to train the vehicleto detect or recognize images, obstacles, and various scenarios one mightencounter behind the wheel. Due to the huge volumes of data generated andprocessed in a vehicle, data mining is expected to be the fastest-growingprocess in the automotive AI market.

AutomotiveArtificial Intelligence Market, By Application
•Semi-autonomous Driving
• Human Machine Interface
• Autonomous Driving

Basedon Application, the market is bifurcated into human machine interface,semi-autonomous driving, and autonomous driving. Automotive HMI has evolveddrastically in last few years and implemented disruptive technologies invarious products such as voice recognition system and gesture recognitionsystem. This is a growing market where the innovative AI technology is beingused in upcoming models in premium segments.

AutomotiveArtificial Intelligence Market, By Geography
•North America
• Europe
• Asia Pacific
• Rest of the world

Onthe basis of Geography, the Global Automotive Artificial Intelligence Market isclassified into North America, Europe, Asia Pacific, and Rest of the world. Theautomotive AI market in APAC is expected to grow at a high rate between 2017and 2025. APAC’s massive population, fast-growing economies, and rising livingstandards are well positioned to ride the AI wave. This region housesestablished automakers such as Toyota (Japan), Hyundai Motor Company (SouthKorea), and Honda Motor Company (Japan). Other countries in APAC, such as SouthKorea and Japan, have strong technological capabilities. The region, therefore,represents a balanced blend of demand and technology, making it an idealinvestment for any OEM.

KeyPlayers In Automotive Artificial Intelligence Market
The“Global Automotive Artificial Intelligence Market” study report will provide avaluable insight with an emphasis on the global market. The major players inthe market are IntelCorporation, Alphabet Inc., NVIDIA Corporation, IBM Corporation, HarmanInternational Industries Inc., Microsoft Corporation, Xilinx Inc., QualcommInc., Tesla Inc., Volvo Car Corporation.

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