Automotive Artificial Intelligence Market to Value Over US$ 11 Billion by 2026 End

  • 08 May 2019

Developing cloud hosting intelligence along with ever flourishing automotive industry is rapidly altering the overall dynamics of the automotive artificial intelligence market. Autonomous driving assistance that enables object recognition is viewed as a reliable solution to the pressing issue of road safety. The industry standards as adaptive cruise control, advanced driver assistance systems and blind spot alert are being readily incorporated within the leading automotive manufacturing brands by facilitating huge investments for product innovation. The inclination towards the use of passenger cars and commercial vehicles that could be operated with minimal human intervention is estimated to soon be the norm. Thus autonomous vehicles leveraging artificial intelligence would prove to be a breakthrough in regions facing scarcity of manpower in the transportation sector. 
The global automotive artificial intelligence market is anticipated to surpass the market value of US$ 11 billion by 2026 end, registering a bolstering CAGR of 37.1%, for the forecast period from 2019 to 2026. 

Global Automotive Artificial Intelligence Market, by Component
•   Software
•   Hardware
•   Service
Software is the core segment of the global automotive artificial intelligence that majorly drives the interactions with databases and internet of things (IoT) related to automotive operations. The major challenge faced by this segment is the cyber-attacks and related consequences. Thus market players that provide cyber-attack safeguarded solution on a regular basis are estimated to lead the market. The hardware components provide physical interfacing between human being and automotive vehicles. This segment is anticipated to grow in terms of nanotechnology innovations for years to come. Automotive artificial intelligence runs on services like blockchain and high-speed wireless internet services. Hence the services segment will remain the most competitive segment in terms of affordability and omnipresence.

Global Automotive Artificial Intelligence Market, by Technology 
•    Natural Language Processing
•    Computer Vision
•    Machine Learning & Deep Learning
Overall, the usage of voice commands for automatic operations is gaining popularity across demography. Natural Language Processing (NLP)is the most comprehensive set of technology that can be employed for meeting this demand. Hence NLP segment is to experience a tremendous upsurge in the CAGR for coming years. The advancement in data mining and data analysing tools is facilitating rapid reliability on machine learning and deep learning to facilitate mimicking of human reactions in life-critical situations while driving. Hence this segment has a huge potential of growth over the forecast period.

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  

 

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