The Artificial Intelligence (AI) in the automotive market is anticipated to record a robust CAGR of 55% between 2023 and 2033. The market is anticipated to cross a market share of US$ 9.3 billion by 2033, while it is expected to be valued at US$ 744.39 billion in 2023.
Request For Sample Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-16669
Key Points
- The United States market is another significant market. The market growth is attributed to the presence of EV giants like Tesla, which delivers advanced AI and ML integration. The increased acceptance of autonomous and self-driving vehicles is fueling the sales of AI in the automotive
- Artificial intelligence (AI) in the automotive market in China is another significant market. The growth is attributed to the expanded manufacturing units, high-end research, and advanced experimentation.
- Europe with its environmental compliance adopts EVs and Hybrid Vehicles, which further fuels the demand for AI-integration prospects.
- The software segment is likely to thrive in the component category due to the common application and automotive implementation. It is expected to hold a value of US$ 200 billion by 2033.
- The fully autonomous segment tops the application category with an anticipated value of US$ 30 billion by 2033. The growth is attributed to the advent of self-driving assistance systems
There is a huge demand for cutting-edge automobiles with completely autonomous and self-driving gearboxes. As a result, the AI integration suppliers are developing tailored solutions, which is driving up demand for artificial intelligence (AI) in the automobile industry.
The integration of AI units follows the increase in demand for EVs and hybrid cars since they improve operating efficiency, provide ease, and protect the car through features like park-guided systems.
The popularity of level 2 Advanced Driver Assistance Systems (ADAS) among vehicle enthusiasts is advancing the study and advancement of ADAS integration.
OEM-based AI chips from the new car manufacturers support a variety of vehicle tasks. AI supports every element, from assisted parking and autonomous driving to the AC, lighting, and cruise control.
The revival of the automobile industry as well as the high-end AI and machine learning setup are fueling the demand for artificial intelligence (AI) in the automotive industry. The enhanced autonomous emergency braking is managed by AI chips.The safety measures, both passive and active, are designed expressly to protect against driver error.
Get Your Report Customize, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-16669
Competitive Landscape
The key competitors focus on inclusivity, while adding sensors and smart software to enhance the guided systems. Companies follow the artificial intelligence innovation with the key competitors and merge, acquire, and partner with other companies to increase the network range, connectivity, supply chain, and distribution channel. The key players in the market are: BMW AG, AUDI AG, Intel Corporation, Tesla Inc, Uber Technologies, Volvo Car Corporation, Honda Motors, Ford Motor Company, NVIDIA Corporation, and Tencent
Recent Market Developments
- Ford Motor Co is the leading patent filer when it comes to the neural network for radar-LiDAR. The company operates with Baidu in China to implement AI technology in automotive.
- A technology company, Aptiv is promoting enhanced automated vehicles that are loaded with AI-based sensors, cameras, and other components.
Key Segments
By Component:
- Hardware
- Software
- Services
By Technology:
- Computer Vision
- Context Awareness
- Deep Learning
- Machine Learning
- Natural Language Processing (NLP)
By Process:
- Data Mining
- Image/signal Recognition
By Application:
- Semi-autonomous vehicles
- Fully-autonomous Vehicles
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- The Middle East & Africa (MEA)
Speak to our Research Expert:
https://www.futuremarketinsights.com/ask-question/rep-gb-16669
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs
