Automotive Artificial Intelligence Market: Industry Trends, Share, Size and Forecast Report

Overview

Automotive Artificial Intelligence Market Introduction
The global automotive artificial intelligence market is estimated to value over US $ 11 billion by the end of 2026 growing at a CAGR of 37.1% during the forecast period, 2019 to 2026. AI is considered as one of the most advancing technologies in computer science. It is linked with human intelligence within similar attributes such as reasoning, learning, language understanding, problem-solving, and others. The automotive industry has witnessed the promise of artificial intelligence (AI) technology and is amongst the very few industries at the fore of using AI to augment and mimic human behaviours. The addition of safety systems such as the blind spot alert, adaptive cruise control (ACC), and advanced driver assistance systems (ADAS) and increasing need for ease and safety offers an opportunity for OEMs to develop unique and innovative artificial intelligence systems that would attract buyers.

Global Automotive Artificial Intelligence Market Overview
By the end of 2026, North America is anticipated to be the leading region in the global automotive artificial intelligence market this is essentially due to the presence of dominant manufacturers. Additionally, the accelerated advancement of autonomous vehicle technology and stringent government regulation for road safety is expected to accelerate the market growth furthermore. APAC market is foreseen to grow at a huge rate between 2019 and 2026. APAC’s extensive population, rapidly-growing economies, and improving living standards are well placed to drive the AI wave. Besides, this region consists of established manufacturers such as Hyundai, Motor Company (South Korea), Honda Motor Company (Japan) and Toyota (Japan). Additionally, countries such as Japan and South Korea have substantial technological abilities. The region, hence, outlines a well-balanced blend of technology and demand, making it an exemplary investment for OEMs.

This market study incorporates a comprehensive scope on global market players including the developments, mergers & collaborations and new product launches. Key market players profiled in this study include Nvidia Corporation, Uber Technologies Inc. (OTTO Motors), Intel Corporation
Alphabet Inc. (Waymo), Microsoft Corporation, BMW,
Toyota Motor Corporation, International Business Machines Corporation (IBM), Micron Technology, Inc., Tesla, Inc. and others.

Report Summary
Global Automotive Artificial Intelligence Market, by Component
• Software
• Hardware
• Service

Global Automotive Artificial Intelligence Market, by Technology
• Natural Language Processing
• Computer Vision
• Machine Learning & Deep Learning

Global Automotive Artificial Intelligence Market, by Application
• Autonomous
• Semi-Autonomous

Global Automotive Artificial Intelligence Market, by Region
• North America
• Latin America
• Europe
• Asia Pacific
• Rest of the World

Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants

FutureWise Key Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth

Objectives of the Study:
• To provide with an exhaustive analysis on the global automotive artificial intelligence market on the basis of component, technology, application and region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies