Automotive Artificial Intelligence Market - Industry analysis, Trends, Estimation & Forecast, 2016 - 2024

November 2017

 ERC 4448

Artificial intelligence is projected to be a key influencing factor for the growth of automotive sector in the upcoming years. Emergence of AI within several industry verticals and evolving concept of self-driving cars are anticipated to create the need of automotive artificial intelligent systems in automotive industry. The market is expected to grow with a significant growth rate in the near future. Adoption of intelligent transportation system (ITS) is also a major impacting factor for the market and expected to boost the market for automotive artificial intelligence in near future. Supportive government initiatives supporting the growth of intelligent transportation system would also help the market to grow further. For instance, EU Directive on ITS, passed on July 7, 2010, to manage road traffic efficiently, plays a chief role in encouraging the growth of automotive AI market. Moreover, in 2015, the install rate of AI based systems in new vehicles was just 8%; this number is expected to soar to 109% in 2025.

Market Determinants

Stringent government regulations regarding vehicle safety and evolving trend of autonomous vehicles, are the major factors driving the growth of automotive AI market. Further, rapid adoption of Advanced Driver Assistance System and increasing need for enhanced user experience would also influence the market positively. Recently, IBM Watson collaborated with the General Motors on Star platform and Toyota invested $1 billion in AI-based self-driving technology for development of AI in automotive vehicles. Increment in the total cost of vehicles and cyber security issues regarding automotive might hinder the market growth. Growing demand for premium featured vehicles is expected to create lucrative opportunities for automotive AI market.

Segment Analysis

Global automotive AI market is segmented on the basis of offering, technology, process, application and region. By offering it is bifurcated as hardware and software. By technology, the market is categorized into deep learning, machine learning, computer vision, context awareness, and natural language processing (NLP). On the basis of process, it is segmented into signal recognition, image recognition, and data mining. Owing to the huge volumes of data generated and processed in a vehicle, data mining is expected to be the fastest-growing process in the automotive AI market. By application the market is segmented into human–machine interface, semi-autonomous driving, and autonomous vehicle. Geographically, global automotive AI market is segmented as North America, Europe, Asia-Pacific, and Rest of the world. By 2020, industry analysts estimate that nearly 250 million cars will be connected to the Internet with advanced driver assistance systems and various automation features.
Global automotive AI market is highly competitive owing to the presence of key market leaders. Technological innovation is one of the key techniques used by market leaders to gain enhanced share of the market. Technological innovations combined with new products would act as a strong market strategy within the industry. For instance, In October 2016, Tesla announced that, all new Tesla vehicles will come equipped with all the hardware needed for fully-automated driving. Moreover, in February 2017, Ford Motor Company made an investment of $1 billion in Argo AI, a new AI company to bring forth a virtual driver system in the future, possibly by 2021.
Top competing players of the market are Alphabet Inc., Ford Motor Company, General Motors Company, Harman International Industries, Inc., IBM Corporationm Intel Corporation, Microsoft Corporation, NVIDIA Corporation, Qualcomm Inc., Tesla, Inc., Toyota Motor Corporation, and Uber Technologies, Inc.

Automotive AI Market Segmentation

By Offering
• Hardware
• Software

By Technology
• Deep Learning
• Machine Learning
• Computer Vision
• Context Awareness
• Natural Language Processing

By Process
• Signal Recognition
• Image Recognition
• Data Mining

By Application
• Human–Machine Interface
• Semi-Autonomous Driving
• Autonomous Vehicle

By Geography
• North America
• Europe
• APAC
• Rest of the World

Key Market Players

• Alphabet Inc.
• Ford Motor Company
• General Motors Company
• Harman International Industries, Inc.
• IBM Corporation
• Intel Corporation
• Microsoft Corporation
• NVIDIA Corporation
• Qualcomm Inc.
• Tesla, Inc.
• Toyota Motor Corporation
• Uber Technologies, Inc.

Please fill in the form below to Request for Customized Report

Refresh Captcha

To request sample copy of this report, please complete the form below verified and secure

We offer 10% free customization including country-level data, niche applications and competitive landscape with every report. This also includes a 30 minute free analyst discussion post report purchase.


Refresh Captcha

    What Information does this report contain?

    • What was the market size of the automotive artificial intelligence market in 2016 and the expected market size by 2024, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2016 - 2024)?
    • Which are the leading companies in the automotive artificial intelligence market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

Purchase Options





Offers & Discounts

  • Chapter purchase
  • Historical market data
  • Country level data breakdown
  • Free customization*
  • Discounts for first time
  • Special pricing for
              non-business entities

Customize

  • We offer 20% free customization on every purchase.

Get in touch!

  +1-(908) 379-7709


  help@esticastresearch.com