Automotive Artificial Intelligence (AI) Market 2020 - Analysis

[sagar]

The booming automotive industry is a constant source of driving demand in the Automotive Artificial Intelligence (AI) market. With the emergence of cloud-hosted intelligence, driver assist features and internet of thing the market for Automotive Artificial Intelligence (AI) is expected to witness significant growth in the near future. Additionally with major players in the automotive industry heavily investing in development of artificial intelligence for automobiles, the industry wide standard such as the adaptive cruise control, advanced driver assistance systems and blind spot alert would further trigger the growth in the Automotive Artificial Intelligence (AI) market. Changing consumer preference towards convenience and safety provides an opportunity for original equipment manufacturers in the automotive AI market. The global Automotive Artificial Intelligence (AI) market is expected to register a healthy growth rate of more than 10%.

High cost and relative lack of awareness among consumers is expected to act as a major restraint in the automotive AI market.

Key Players

The key players of global Automotive Artificial Intelligence (AI) market Qualcomm Inc. (US), Tesla Inc. (US), Volvo Car Corporation (Sweden), BMW AG (Germany), Audi AG (Germany), General Motors Company (US), Ford Motor Company (US), Toyota Motor Corporation (Japan), Hyundai Motor Corporation (South Korea), Uber Technologies Inc. (US) .

Segmentation

The Automotive Artificial Intelligence (AI) Market has been segmented based on technology, process, application.

By technology, the Automotive Artificial Intelligence (AI) market has been segmented into machine learning, deep learning, computer vision, context awareness, and natural language processing.

By process, the Automotive Artificial Intelligence (AI) market has been segmented into image recognition, signal recognition, and data mining.

By application, the Automotive Artificial Intelligence (AI) market has been segmented into semi-autonomous driving, human-machine interface, and autonomous driving.

Regional Analysis

By 2023, North America is expected to be the dominant region in the Automotive Artificial Intelligence (AI) market primarily due to the presence of major manufacturers in this region. In addition availability of sophisticated technology to develop artificial intelligence programs are much more easily accessible in this region as compared to others. Growing expectance of autonomous vehicles in the U.S. has significantly contributed towards the growth of the Automotive Artificial Intelligence (AI) market in this region. Favorable government norms coupled with Ford Motor Company, General Motors, and Fiat-Chrysler Automotive leading the charge in the development of the artificial intelligence in automotive by constantly upgrading their product will have a positive impact on the market.

 

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