Global Automotive Artificial Intelligence (AI) Market

Automotive Artificial Intelligence (AI) Market Size, Share, Growth Analysis, By Technology(cameras, RADAR), By End user(Autonomous Driving, Semi-Autonomous Driving) - Industry Forecast 2024-2031

Report ID: SQMIG45A2064 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 65 | Figures: 72

Automotive Artificial Intelligence (AI) Market News

  • In March 2021, BMW introduced iDrive 8, the company's next infotainment system, which aims to be a drive digitally connected, smart and proactive companion. Future BMW iX and i4 models will be powered by computer vision, computational linguistics, AI cloud, and 5G.
  • In May 2021, Didi Chuxing announced a strategic partnership with Volvo Cars on autonomous vehicles for DiDi’s self-driving test fleet. Volvo autonomous drive-ready XC90 cars will be the first to integrate DiDi Gemini, a new self-driving hardware platform, which is equipped with NVIDIA DRIVE AGX Pegasus. These vehicles, equipped with DiDi’s Gemini self-driving hardware platform, will eventually be deployed in robotaxi services.
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Automotive Artificial Intelligence (AI) Market size was valued at USD 129.12 billion in 2022 and is poised to grow from USD 178.31 billion in 2023 to USD 2359.05 billion in 2031, at a CAGR of 38.1% during the forecast period (2024-2031).

The Automotive Artificial Intelligence (AI) Market is highly fragmented with the presence of several small and large market players operating all over the world. Major companies of the market are implementing several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio. 'AiCure', 'Arm Limited', 'Atomwise, Inc.', 'Ayasdi AI LLC', 'Baidu, Inc.', 'Clarifai, Inc', 'Cyrcadia Health', 'Enlitic, Inc.', 'Google LLC', 'H2O.ai.', 'HyperVerge, Inc.', 'International Business Machines Corporation', 'IBM Watson Health', 'Intel Corporation', 'Iris.ai AS.', 'Lifegraph', 'Microsoft'

Market rewards improve as buyers become more proactively knowledgeable about free progressions. Interest in self-driving cars will continue to flood aggressively throughout this period, as buyers rapidly advanced driver assistance by reducing vehicle weight and ensuring road abundance. Automaker are taking note of these examples and taking them to next level to offer innovative driver assistance solutions. Another variable contributing to the market share of artificial intelligence in cars is increasing revenues on driver comfort and creating headroom for adaptability.

Increasing positive consumer perceptions of self-driving technology will complement market revenue. Demand for self-driving vehicles will grow exponentially during the forecast period as consumers rapidly adopt driver-assist technologies to reduce driving stress and ensure road safety. Automakers are taking note of these trends and offering innovative driver assistance solutions to gain a competitive edge. The factors contributing to the market share of artificial intelligence in vehicles are increasing demand for driver comfort and improving access to mobility.

The Automotive Artificial Intelligence Market in North America is expected to grow at a high rate. The early adoption of technologies such as AI, machine learning, deep learning and automation. Additionally, the growing trend toward autonomous and electric vehicles and increasing implementation of driver assistance technologies contributes to the increase in per capita income in the region. This is some of the aspects that continue to lead the North American region.

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