Artificial Intelligence (AI) in Automotive and Transportation Market is set to Exceed Valuation of USD 12.18 billion at a Potential Growth Rate

MarkNtel Advisors - Market Research Company has released a research report on the Artificial Intelligence (AI) in Automotive and Transportation Market, covering the forecast period from 2024 to 2030. The research segment utilizes efficient methodologies to convey sales and revenue forecasts for the specified years, enhancing user understanding and supporting well-informed decision-making. Through a combination of qualitative and quantitative data, this report comprehensively addresses significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges. To familiarize both existing businesses and new entrants with the present market scenario, the report delivers detailed growth prospects for the industry and concise insights into competitors.

Artificial Intelligence (AI) in Automotive and Transportation Market Insights:

The Global Artificial Intelligence in Automotive & Transportation Market is valued at USD 12.18 billion in 2023 and is estimated to grow at a CAGR of about 20.24% during the forecast period, i.e., 2024–30.

This thorough examination encompasses crucial details on market trends, size, forecasts, factors contributing to growth, challenges, and evaluations of competitors. The report conducts a comprehensive assessment of the Artificial Intelligence (AI) in Automotive and Transportation Market, offering insights into the latest advancements and presenting an overview of the market landscape.

Market Dynamics:

Global Artificial Intelligence in Automotive & Transportation Market Driver

Mounting Inclination Toward Autonomous Vehicles Worldwide to Upscale the Global Industry – With the advent of AI in automobiles, the demand for autonomous vehicles is rising substantially, owing to features like self-driving, autopilot, and automatic parking, among others, to reduce human efforts while driving. The increasing inclination of major automakers toward creating autonomous cars & driving features and the surging number of tech companies & start-ups are forming the idea of self-driving vehicles for public transportation, ride-sharing, and personal requirements.

Prominent automakers like Tesla are the ideal example of autonomous vehicles with systems like keeping the vehicle within a lane while driving, self-parking, auto changing lanes whenever required, etc. Hence, these aspects are projected to be the major drivers for Global Artificial Intelligence (AI) in the Automotive and Transportation Market during 2024-30.

Global Artificial Intelligence in Automotive & Transportation Market Challenge

Security & Privacy Concern Hampers the Market Growth – While manufacturers are integrating AI technologies in the automotive, threats & concerns like data breaches, security & privacy concerns, cyber-attacks, & driver distractions, among others, are a few aspects that might restrain the Artificial Intelligence in Automotive & Transportation Market growth during the forecast period. It includes threats like glitches in the dashboard computers that allow hackers to disable vehicles or implant malware in the car system. Hence, these cases & possibilities are intruding the customers to adopt AI-enabled vehicles.

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Artificial Intelligence (AI) in Automotive and Transportation Market Segmentation Analysis

A thorough examination of the Artificial Intelligence (AI) in Automotive and Transportation Market is presented in our research report, meticulously delving into key market segments:

By Application

-Human-Machine Interface

--Central Display

--Instrument Cluster

--Steering Mounted Control

--Head-up Display

-Driver Monitoring

--Physiological Measurement

--Facial Movement and Eye Detection

-Driver/ Identity Authentication

--Finger

--Facial and Iris

--Voice

-Autonomous Driving Processing Chips

-Intelligent Traffic Management System

• Human Machine Interface (HMI) is anticipated to contribute substantially to the market growth during the forecast period.

By Vehicle Type

-Passenger Vehicles

-Light Commercial Vehicles

-Heavy Trucks

-Heavy Buses

By Component

-Hardware

-Software

By Level of Autonomy

-Level 1

-Level 2

-Level 3

-Level 4

-Level 5

By Technology

-Machine Learning

-Natural Language Processing

-Context-Aware Computing

-Computer Vision

-Deep Learning

• Machine Learning is anticipated to dominate the Artificial Intelligence in Automotive & Transportation Market with the largest share during the forecast period.

By Region

-North America

-South America

-Europe

-Middle East & Africa

-Asia-Pacific

• North America dominated the Artificial Intelligence (AI) in the Automotive & Transportation Market with the largest share in recent years and is projected to prevail in the same trend during the forecast period.

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Analysis of Artificial Intelligence (AI) in Automotive and Transportation Market Share:

The Artificial Intelligence (AI) in Automotive and Transportation Market's competitive environment is examined extensively via a comprehensive analysis of its competitors. This analysis provides in-depth information on each company's profile, financial achievements, market presence, potential, Research and Development (R&D) expenditures, recent strategic moves in the market, worldwide footprint, strengths and weaknesses, and notable product/service introductions and dominance. The information outlined above offers a comprehensive overview of the prominent market players, including,

• Continental AG
• Denso Corporation
• Nvidia Corporation
• Intel Corporation
• Harman International
• AI Motive
• Argo AI
• Siemens
• Thales Group
• CarVi
• Valeo
• Optalert
• Orbcomm Inc.
• Visteon Corporation

Frequently Asked Questions (FAQs)

• How are cost and profit estimations evolving within the Artificial Intelligence (AI) in Automotive and Transportation Industry?
• How do factors such as supply and consumption contribute to the industry landscape?
• How do import and export considerations influence the dynamics of the Artificial Intelligence (AI) in Automotive and Transportation Industry?
• Which technological advancements are expected to influence the future of the Artificial Intelligence (AI) in Automotive and Transportation Market?
• Who are the prominent players featured in the Artificial Intelligence (AI) in Automotive and Transportation Market research report?
• What are the projected valuations in USD, and what is the CAGR for the forecasted years?

In addition to our comprehensive research report on the Artificial Intelligence (AI) in Automotive and Transportation Market, we offer customization options to cater to specific client requirements regarding a particular location, segment, or company. Feel free to visit our website and connect with our research analysts for exciting offers & personalized services.

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