According to the new market
research report "Automotive Artificial Intelligence Market by Offering (Hardware, Software),
Technology (Deep Learning, Machine Learning, Computer Vision, Context Awareness
and Natural Language Processing), Process, Application and Region - Global
Forecast to 2025", the automotive artificial intelligence (AI) market
report, the market is expected to be valued at USD 782.9 Million in 2017 and is
expected to reach USD 10,573.3 Million by 2025, at a CAGR of 38.46% between
2017 and 2025.
The emergence of autonomous
vehicle and industry-wide standards such as the adaptive cruise control (ACC),
blind spot alert, and advanced driver assistance systems (ADAS) would trigger
the growth of the automotive AI market. The growing demand for convenience and
safety also presents an opportunity for OEMs to develop new and innovative
artificial intelligence systems that would attract customers.
Software to hold the largest automotive AI market by 2025
Software holds a major share of
the overall AI market in the automotive industry because of the various developments
of AI software and related development kits. In the recent years, major
developments have occurred in AI software solutions, platforms, and related
software development kits. Companies such as Alphabet Inc. (US), Microsoft
Corporation (US), IBM Corporation (US), and Intel Corporation (US) are among
the frontrunners in the development of AI software. All these major companies
are investing heavily in start-ups or acquiring them, to maintain a strong
position in the automotive AI ecosystem. For instance, in March 2017, Intel
Corporation (US) acquired Mobileye (Israel) for approximately USD 15 billion.
Market for deep learning technology expected to grow at the highest
rate between 2017 and 2025
Most of the AI hardware and
software include a mixture of various technologies, which are used in various
applications. The deep learning technology is expected to be the largest and
the fastest-growing technology in the automotive AI market and is used in voice
recognition, voice search, recommendation engines, sentiment analysis, image
recognition, and motion detection. The deep learning technology is widely being
used in the developments of autonomous cars. Many companies are investing in
the development of self-driving cars in which the deep learning technology is
used for image processing, speech recognition, and data analysis. For instance,
Google is heavily investing in autonomous vehicles through its spin-off Waymo
and has an active system integrated into its self-driving vehicle with the deep
learning technology to detect pedestrians in different situations.
North America expected to hold a major share of the automotive AI
market in 2017
The presence of incentives and
high level of funding from governments plays a major role in the development of
this technology. For instance, in 2016, the US government has spent USD 4.00
billion to accelerate the acceptance of autonomous vehicles on US roads. The
automotive industry in the US is a highly advanced industry, with the “big
three”-Ford Motor Company, General Motors, and Fiat-Chrysler Automotive
continuously upgrading their product portfolios. Vehicles in the US are
equipped with advanced features such as adaptive cruise control, lane
departure, warning systems, voice recognition system, gesture recognition, and
blind spot detection.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=248804391
The companies covered in the
automotive AI market are NVIDIA Corporation (US), Alphabet Inc. (US), Intel
Corporation (US), IBM Corporation (US), Microsoft Corporation (US), Harman
International Industries Inc. (US), Xilinx Inc. (US), 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),
Honda Motor Co. Ltd. (Japan), Daimler AG (Germany), and Didi Chuxing (China).
Some important start-ups from the automotive AI market have also been included:
AImotive (Hungary), Nauto Inc. (US), nuTonomy (US), Argo AI (US), and drive.ai
(US).
About MarketsandMarkets™
MarketsandMarkets™
provides quantified B2B research on 30,000 high growth niche
opportunities/threats which will impact 70% to 80% of worldwide companies’
revenues. Currently servicing 7500 customers worldwide including 80% of global
Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries
worldwide approach MarketsandMarkets™ for their painpoints around revenues
decisions.
Our
850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high
growth markets following the "Growth Engagement Model – GEM". The GEM
aims at proactive collaboration with the clients to identify new opportunities,
identify most important customers, write "Attack, avoid and defend"
strategies, identify sources of incremental revenues for both the company and
its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants
(Positioning top players across leaders, emerging companies, innovators,
strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies this
year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s
flagship competitive intelligence and market research platform,
"Knowledgestore" connects over 200,000 markets and entire value
chains for deeper understanding of the unmet insights along with market sizing
and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™
INC.
630 Dundee Road
Suite 430
Northbrook, IL
60062
USA:
1-888-600-6441
