DUBLIN, April 15, 2020 /PRNewswire/ -- The "Automotive Artificial Intelligence Market by Offering, Technology, Process, Drive, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
This research report provides in-depth analysis of the automotive artificial intelligence (AI) market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2027.
The global automotive artificial intelligence market is expected to grow at a CAGR of 39.8% from 2019 to 2027 to reach $15.9 billion by 2027.
The factors such as growth in the number of smart IoT devices, proliferation of internet, increase in demand for connected vehicles using the Internet of Things (IoT), and optimization of traffic efficiency are contributing to the growth of the overall automotive artificial intelligence (AI) market. Furthermore, shifting consumer preferences for premium vehicles to improve the driving experience, while enhancing the vehicle and pedestrian safety have also encouraged the demand for artificial intelligence, thereby, complimenting the overall growth of the automotive artificial intelligence market.
The automotive artificial intelligence market study presents historical market data in terms of value (2017 and 2018), current data (2019), and forecasts for 2027 - by component, technology, process, applications, and geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.
Based on component, the software segment accounted for the largest share of the overall automotive artificial intelligence market in 2019. The large share of this segment is attributed to decrease in the cost of cloud-enabling technology deployment, growing usage of learning analytics and awareness towards cloud computing, and increasing demand for automated solutions to meet changing business needs in the automotive sector.
Based on technology, the machine learning segment accounted for the largest share of the overall automotive artificial intelligence market in 2019. On the other hand, computer vision technology is slated to grow at the fastest CAGR during the forecast period, due to a widespread implementation of computer vision in autonomous vehicles for signal recognition, image recognition, driver monitoring, spotting suspicious objects, and avoid vehicle collision.
Based on the application, the human-machine interface segment commanded the largest share of the overall automotive artificial intelligence market in 2019. The factors such as increasing demand for enhancing the in-car user experience, growth in terms of smart IoT devices, and proliferation of internet infrastructure are contributing to the growth of the human-machine interface segment. On the other hand, the semi-autonomous driving application segment is slated to grow at the fastest CAGR during the forecast period.
Geographically, North America commanded the largest share of global automotive AI market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. However, the Asia-Pacific region is anticipated to emerge as the fastest growing region during the forecast period, mainly on account of rising acceptance of modern technologies, steady government initiatives to promote manufacturing activities, rising living standards, high rate of adoption of advanced features in vehicles, and gradually increasing digitalization in the region.
The global automotive artificial intelligence market is highly fragmented with the presence of key players such as Google LLC (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), Nvidia Corporation (U.S.), Tesla, Inc. (U.S.), Xilinx, Inc. (U.S.), Micron Technology, Inc. (U.S.), Uber Technologies, Inc. (U.S.), Ford Motor Company (U.S.), General Motors Company (U.S.), Harman International Industries Inc. (South Korea), Honda Motor Co., Ltd. (Japan), Audi AG (Germany), and Qualcomm Technologies, Inc. (U.S.) along with several local and regional players.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Market insights
4.2.1. Growing Demand for Autonomous Vehicles
4.2.2. Growing Adoption of Artificial Intelligence for Traffic Management
4.2.3. Government Initiatives Towards Connected and Autonomous Vehicles
4.2.4. Surging Adoption of Advanced Driver Assistance System (ADAS)
4.3.1. High Procurement & Operating Cost
4.3.2. Lack of Infrastructure
4.4.1. Growing Demand for Premium Vehicles
4.5.1. Concerns Over Data Privacy and Security Breach
4.6.1. Growing Prevalence of Smart IoT Technologies
4.6.2. Rising Adoption of 5G Technology
4.7. Key Innovations
4.8. Technological Landscape
4.9. Technology Roadmap
4.10. AI Automotive Supply Chain
5. Artificial Intelligence in Automotive Market, by Component
6. Artificial Intelligence in Automotive Market, by Technology
6.2. Machine Learning
6.3. Natural Language Processing (NLP)
6.4. Computer Vision
6.5. Context-Aware Computing
7. Artificial Intelligence in Automotive Market, by Application
7.2. Human Machine interface
7.3. Semi-Autonomous Driving
8. Artificial Intelligence in Automotive Market, by Process
8.2. Signal Recognition
8.3. Image Recognition
8.4. Voice Recognition
8.5. Data Mining
9. Artificial Intelligence in Automotive Market, by Geography
9.2. North America
9.5. Latin America
9.6. Middle East & Africa
10. Competitive Landscape
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Market Ranking (2018)
10.4.1. IBM Corporation
10.4.2. Waymo LLC (Alphabet Inc.)
10.4.3. Audi AG
10.4.4. Qualcomm Technologies Inc.
10.4.5. Ford Motor Company
11. Company Profiles
11.1. Waymo LLC (Part of Alphabet Inc.)
11.1.1. Business Overview
11.1.2. Financial Overview
11.1.3. Product Portfolio
11.1.4. Strategic Developments
11.2. IBM Corporation
11.3. Intel Corporation
11.4. Microsoft Corporation
11.5. Nvidia Corporation
11.6. Xilinx Inc.
11.7. Micron Technology Inc.
11.8. Tesla Inc.
11.9. Ford Motor Company
11.10. General Motors Company
11.11. Harman International Industries Inc. (Samsung Electronics Co. Ltd.)
11.12. Honda Motor Co. Ltd.
11.13. Audi AG
11.14. Qualcomm Technologies Inc. (Qualcomm Incorporated)
For more information about this report visit https://www.researchandmarkets.com/r/c7fim0
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets