The Global Automotive Artificial Intelligence market is expected to see a growth rate of 37.86% and may see market size of $9.537 Billion by 2024

Scope of the Study

Automotive Artificial intelligence refers to a system built in vehicles which have the capability to mimic the cognitive functions of the human mind, have the ability to learn and solve problems independently and are rapidly being deployed across a variety of industries and use cases. It controls the in-vehicle system and eventually prevents the accident. AI in automotive for smart mobility where AI will be the driver, and passengers may not care about traffic congestion possibilities as the vehicle will have the ability to choose the best route, emergency control, fuel status, and other important aspects.

The market study is being classified by Type (Hardware and Software), By Application (Human–Machine Interface, Semi-autonomous Driving, and Autonomous Driving) and major geographies with the country-level break-up. According to AMA, the Global Automotive Artificial Intelligence market is expected to see a growth rate of 37.86% and may see the market size of USD9537.46 Million by 2024.

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Alphabet Inc. (United States), Microsoft Corporation (United States), IBM Corporation (United States), Intel Corporation (United States), Harman International Industries Inc. (United States), Xilinx Inc. (United States), Qualcomm Inc. (United States), Tesla Inc. (United States), General Motors Company (United States), Ford Motor Company (United States), Uber Technologies Inc. (United States), BMW AG (Germany), Audi AG (Germany), Daimler AG (Germany), Toyota Motor Corporation (Japan), Honda Motor Co. Ltd. (Japan), Hyundai Motor Corporation (South Korea) and Volvo Car Corporation (Sweden) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are AImotive (Hungary), Nauto (United States), nuTonomy (United States), Argo AI (United States), drive.ai (United States) and Didi Chuxing (China).

Recently, Nuance communication has announced a new AI research center which will focus on smart and autonomous car technologies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Automotive Artificial Intelligence market throughout the predicted period.

Segment Analysis

AdvanceMarketAnalytics has segmented the market of Global Automotive Artificial Intelligence market by Type, Application and Region.

On the basis of geography, the market of Automotive Artificial Intelligence has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Deep Learning will boost the Automotive Artificial Intelligence market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Process, the sub-segment i.e. Signal Recognition will boost the Automotive Artificial Intelligence market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.

Market Drivers

• Growing Demand for Enhanced User Experience and Convenience Features
• Government Regulation for Vehicle Safety in Emerging Economies
• Rising Adoption of ADAS Technology by OEM

Market Trend

• Rising Demand for Autonomous Vehicles Performing All Driving Functions
• Advancement in Technology and Adoption of IOT

Restraints

• Operator do not have Full Control over the Tournament and Leagues
• Increasing Security and Privacy Concerns

Opportunities

• Increasing Demand for Premium Segment Vehicles
• Boosting Fuel Efficiency

Challenges

• Maintaining Balance between Cost and Quality

Market Leaders and their expansionary development strategies

In October 2018, Honda has joined hands with General Motors tech startup Cruise to develop autonomous vehicles as the race to market self-driving cars heats up, the companies and In September 2018, Mercedes-Benz has partnered with SoundHound to integrate its Houndify voice-enabled artificial intelligence into the car’s latest infotainment system.

Key Target Audience

Semiconductor companies, Technology providers, Universities and research organizations, System integrators, AI solution providers, AI platform providers, Cloud service providers, Technology providers, AI system providers, Universities and research organizations, Investors and venture capitalists, Governments and Financial Institution and Research Organization and consulting companies

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