Automotive Artificial Intelligence Market is Expanding Due to Growing Demand of Autonomous Vehicle

Artificial intelligence (AI) is one of the most progressive technologies in computer science. It is associated with human intelligence through similar characteristics such as language understanding, reasoning, learning, problem solving, and others. Manufacturers in the market witness enormous underlying intellectual challenges in the development and revision of the technology. In addition, the growth in automotive industry is expected to drive the automotive artificial intelligence market.

The growth of the automotive artificial intelligence market is driven by rise in demand for autonomous vehicles and increase in preference for enhanced user experience and convenience features. However, the threat of hackers and rise in cybercrime is expected to restrain the market growth. On the contrary, rise in demand for the premium vehicle segment is anticipated to provide lucrative growth opportunities for the market.

At present, North America dominates this market. In 2017, China is expected to register the highest growth in Asia-Pacific. Similarly, the UK is expected to lead the overall market in Europe in 2017. In the same year, the U.S. is estimated to dominate the North American market.

The growth of the automotive artificial intelligence market is driven by rise in demand for autonomous vehicles and increase in preference for enhanced user experience & convenience features. However, the threat of hackers and rise in cybercrime are expected to restrain the market growth. On the contrary, rise in demand for the premium vehicle segment is anticipated to provide lucrative growth opportunities for the market.

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In 2017, based on component, the hardware segment is anticipated to dominate the global automotive artificial intelligence market, in terms of revenue. However, based on application, semiautonomous dominated the global market in the same year.

The report includes a micro-level study of different regions adopting automotive artificial intelligence for various application. In addition, it discusses the potential opportunities for market players to enter the market. Moreover, it provides an in-depth market analysis of automotive artificial intelligence, outlining current trends, key driving factors, and potential areas for product investments.

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The global automotive AI market is analyzed based on four regions, North America, Europe, Asia-Pacific, and LAMEA. Furthermore, the report highlights the competitive landscape of the key market players to increase their shares and sustain the intense competition in the industry. NVIDIA Corporation, Waymo, Intel Corporation, IBM Corporation, Microsoft Corporation, Micron Technology, Otto Motors, BMW, Tesla Inc., and Toyota are some of the key players operating in the global automotive AI market.

Key Benefits

  • This report studies the global automotive artificial intelligence market with current trends and future estimations to portray the imminent investment pockets.
  • The overall market potential is determined to understand the profitable trends to gain a strong foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current market is quantitatively analyzed from 2017 to 2024 to highlight the financial competency of the market.
  • Porters five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Posted by on Saturday October 13 2018, 10:45 AM EDT. All trademarks acknowledged. Filed under Business Services, Featured Press Release, Technology Hardware & Equipment, Technology, Media, & Telecommunications. Comments and Trackbacks are open. Follow responses: RSS 2.0

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