Global Automotive Artificial Intelligence Market Size 2024, Forecast To 2033
14 Feb, 2024
The automotive artificial intelligence market has witnessed exponential growth, rising from $2.72 billion in 2023 to $3.82 billion in 2024, boasting a 40.3% CAGR. Historical drivers include the rise of connected cars and IoT in the automotive industry, the adoption of AI for predictive maintenance in vehicles, implementation of AI in autonomous vehicle development, and increasing emphasis on in-car personalization through AI. Future expectations forecast continued exponential growth, reaching $13.52 billion in 2028, with a 37.2% CAGR. Anticipated contributors include increasing popularity and awareness, rising demand for premium vehicles, demand for fully digitalized electric vehicles, integration of sensors and components in AI systems, and the introduction of software support for fully autonomous vehicles.
Global Automotive Artificial Intelligence Market Key Driver
The automotive artificial intelligence market is set for growth fueled by the escalating demand for autonomous vehicles. Artificial intelligence finds versatile applications in the automotive sector, contributing to innovations for enhanced autonomous driving experiences. The development of self-driving cars, incorporating advanced technologies like sensors and AI, is a significant outcome. Deloitte forecasts the global automotive AI market to reach around $27 billion by 2025, underscoring the expanding role of AI in the automotive industry. The rising demand for autonomous vehicles is a key driver propelling the growth of the automotive artificial intelligence market.
Get A Free Sample Of The Global Automotive Artificial Intelligence Market ReportGlobal Automotive Artificial Intelligence Market Segments
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
5) By Application: Semi-Automatic, Human Machine Interface, Autonomous Driving
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the automotive artificial intelligence market in 2023. 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
Major Automotive Artificial Intelligence Industry Players
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.; Streem Inc.; Evolv Technology Inc.; Descartes Labs Inc.
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Automotive Artificial Intelligence Market Overview
Artificial intelligence (AI) is a simulation of the human intelligence in machines that are programmed to think and behave like humans. AI helps to complete the job quickly and with relatively few errors.
Automotive Artificial Intelligence Global Market Report 2023 provides data on the global automotive artificial intelligence market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive artificial intelligence market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.