In addition, Asia Pacific is expected to grow rapidly with the fastest growing CAGR due to growing consumer base in this region.

New York, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Artificial Intelligence Market by Component, Technology, and Application : Global Opportunity Analysis and Industry Forecast, 2022 - 2030" - https://www.reportlinker.com/p06318549/?utm_source=GNW

Market Definition:

At an estimated value of over 2.57 billion USD in 2021, the global Automotive Artificial Intelligence (AI) Market is predicted to thrive at a CAGR of 29.2% and valued at over USD 34.30 billion over the forecast year 2022-2030. Fully autonomous as well as semi-autonomous vehicles use artificial intelligence to perform complex tasks such as face recognition, threat detection, image processing, vehicle localization and mapping etc., among others. Machine learning technology enables the vehicle in apprehending data, imitate the human mind and problem solving. Artificial Intelligence, along with other technologies such as Advance Driver Assistance System (ADAS), Adaptive Cruise Control (ACC) and Electronic Braking Distribution (EBD) make driving experience better and ensure advanced safety for both driver and passenger.

Market Dynamics and Trends

The gaining popularity of autonomous vehicle globally, due to its safety and comfort features, along with a shift towards alternative fuel has propelled the growth of automotive artificial intelligence market. Also, artificial intelligence reduces the need of a driver in an autonomous vehicle, which eliminates driver wages and drastically minimizes the operational cost. These advantages, along with investments made by major market players are expected to further accelerate the automotive artificial intelligence market. Additionally, the increase in demand for premium vehicles with advanced systems and software is anticipated to create opportunities for the market players in the near future. However, an increase in cyber-crime activities as well as increase in consumer privacy concerns are expected to restrain the market growth

Market Segmentations and Scope of the Study:

The global automotive artificial intelligence market share has been analyzed on the basis of technology, component, application and geography. On the basis of technology, the market is categorized into machine learning & deep Learning, computer vision, and natural language processing. On the basis of component, the market is segmented into hardware, software and service. Hardware is further sub segmented into processor, memory and networks. Additionally, processor is bifurcated into microprocessor and graphics processing unit. On the basis of application, the market is segmented into Semi-Autonomous and Fully Autonomous. Geographic fragmentation and analysis of each segment includes regions comprising North America, Europe, Asia Pacific and RoW.

Geographical Analysis

In terms of geography, North America holds the lion share in the Automotive AI market. The increased adoption of advanced technologies in this region along with the expansion of automotive industry will help this region to retain the major market share throughout the forecast period. In addition, Asia Pacific is expected to grow rapidly with the fastest growing CAGR due to growing consumer base in this region.

Competitive Landscape

Lucrative growth opportunities makes the automotive Artificial Intelligence Market extremely competitive. Some of the major players in the automotive Artificial Intelligence market include NVIDIA Corporation, IBM Corporation, Intel Corporation, BMW, Toyota, Waymo, Otto Motors, Tesla Inc., Micron Technology and Microsoft Corporation among others.

A number of developmental strategies have been adopted by companies in the recent times to further promote the growth of the market. In 2020, Ford, the Michigan based automobile manufacturer has announced its plan to double the testing of autonomous vehicles in their Miami based facility/command center which is expected to be fully functional by 2021. Also, the collaboration between Honda and General Motors’ tech startup to develop autonomous vehicles to meet the growing demand of self-driving vehicles are examples of various strategies being adopted by players in the market.

KEY BENEFITS

The automobile artificial intelligence market report provides the quantitative analysis of the current market and estimations through 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on
The study comprises a deep dive analysis of the automobile artificial intelligence market trend including the current and future trends for depicting the prevalent investment pockets in the market
The information related to key drivers, restraints and opportunities and their impact on the automobile artificial intelligence market is provided in the report.
The market share of the players in the global automobile artificial intelligence market along with their competitive analysis.
Value chain analysis in the market study provides a clear picture of the stakeholders’ roles

KEY MARKET SEGMENTS:

Global Automotive Artificial Intelligence (AI) Market– By Technology
Machine Learning and Deep Learning
Computer Vision
Natural Language Processing
Global Automotive Artificial Intelligence (AI) Market – By Component
Hardware
Processor
Memory
Network
Software
Service
Global Automotive Artificial Intelligence (AI) Market – By Application
Semi-Autonomous
Fully Autonomous
Global Automotive Artificial Intelligence (AI) Market – By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Russia
France
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Rest of Asia-Pacific
RoW
Latin America
Middle East
Africa
Read the full report: https://www.reportlinker.com/p06318549/?utm_source=GNW

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