The artificial intelligence in automotive global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Artificial Intelligence In Automotive Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
artificial intelligence in automotive market size has grown
exponentially in recent years. It will grow from $6.7 billion in 2023 to
$10.88 billion in 2024 at a compound annual growth rate (CAGR) of
62.3%. The growth in the historic period can be attributed to rising
demand for enhanced user experience and convenience features, increasing
awareness around these vehicles, growing adoption of ai in automotive
supply chain, growth in demand for autonomous vehicle, increase in the
use of manufacturing a car.
The artificial intelligence in automotive market size is expected to see exponential growth in the next few years. It will grow to $64.2 billion in 2028 at a compound annual growth rate (CAGR) of 55.9%. The growth in the forecast period can be attributed to autonomous driving development, increasing demand for connected cars, rising focus on vehicle safety, demand for in-car personalization, growing emphasis on energy efficiency, rapid advancements in computer vision. Major trends in the forecast period include autonomous driving advancements, personalized user experiences, predictive maintenance, enhanced vehicle connectivity, natural language processing (nlp) integration.
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Scope Of Artificial Intelligence In Automotive Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence In Automotive Market Overview
Market Drivers -
The
growing need for autonomous vehicles is expected to propel the growth
of artificial intelligence in the automotive market going forward. An
autonomous vehicle is a vehicle capable of operating itself and
performing necessary functions without any human intervention through
its ability to sense its surroundings. AI in automotive is being used to
develop autonomous driving systems that can sense and interpret the
environment, make decisions, and control the vehicle without human
intervention. For instance, in December 2022, according to the National
Highway Traffic Safety Administration, a US-based government agency,
there will be 3.5 million self-driving vehicles on U.S. roads by 2025
and 4.5 million by 2030. Therefore, the growing need for autonomous
vehicles is driving the growth of artificial intelligence in the
automotive market.
Market Trends -
Major companies operating in
the artificial intelligence in the automotive market are developing
innovative products such as Snapdragon automotive cockpit platforms to
better serve their customers. The Snapdragon automotive cockpit
platforms are advanced in-car technology platforms designed to enhance
the automotive infotainment experience and enable connected and
intelligent features in modern vehicles. For instance, in January 2021,
Qualcomm, a US-based semiconductor company, launched the 4th Generation
Snapdragon Automotive Cockpit Platforms. This new generation promises to
redefine the in-car experience, offering a blend of advanced AI
capabilities and seamless connectivity. The platforms are designed to
revolutionize the digital cockpit, offering enhanced graphics,
multimedia, computer vision, and in-car connectivity. They are fully
scalable, supporting all three Snapdragon Automotive performance tiers,
ranging from Performance, Premiere, and Paramount.
The artificial intelligence in automotive market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Process: Data Mining, Image Or Signal Recognition
3) By Technology: Computer Vision, Context Awareness, Deep Learning, Machine Learning, Natural Language Processing (NLP)
4) By Application: Semi-autonomous vehicles, Fully-autonomous Vehicles
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Regional Insights -
North
America was the largest region in the artificial intelligence in
automotive market in 2023. Asia-Pacific is expected to be the
fastest-growing region in the forecast period. The regions covered in
the artificial intelligence in automotive market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
Key Companies -
Major companies
operating in the artificial intelligence in automotive market report are
Alphabet Inc., Toyota Motor Corporation , Microsoft Corporation, Ford
Motor Company, General Motors Company, Bayerische Motoren Werke AG,
Honda Motor Co. Ltd., Tencent Holdings Ltd., Tesla Inc., Intel
Corporation, The International Business Machines Corporation (IBM), Audi
AG, Volvo Cars, AB Volvo, Qualcomm Technologies Inc., The Mercedes-Benz
Group AG, Mitsubishi Electric , Uber Technologies Inc., Micron
Technology Inc., NVIDIA Corporation, Harman International Industries
Inc., Waymo LLC, Xilinx Inc., Argo AI, Cognata ltd
Table of Contents
1. Executive Summary
2. Artificial Intelligence In Automotive Market Report Structure
3. Artificial Intelligence In Automotive Market Trends And Strategies
4. Artificial Intelligence In Automotive Market – Macro Economic Scenario
5. Artificial Intelligence In Automotive Market Size And Growth
…..
27. Artificial Intelligence In Automotive Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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