Global Automotive Artificial Intelligence Market Expected to Reach $5,827.6 Million by 2024
Wednesday, June 13, 2018
PORTLAND, Oregon and PUNE, India, June 13, 2018 /PRNewswire/ --
According to a recent report published by Allied Market Research, titled, "Automotive
Artificial Intelligence Market
[https://www.alliedmarketresearch.com/automotive-artificial-intelligence-market ] by
Component, Technology, and Application: Global Opportunity Analysis and Industry Forecast,
2017-2024," the global automotive artificial intelligence market was valued at $445.8
million in 2017, and is projected to reach at $5,827.6 million by 2024, growing at a CAGR
of 43.8% from 2018 to 2024.
(Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg )
Artificial intelligence has been increasingly adopted by the automotive industry,
which is among the major industries using AI to mimic the action of humans. Applications
that incorporate AI systems in automotive are semiautonomous and autonomous vehicles. In
autonomous vehicles, AI collects, processes, and chooses the specific action based on the
information gathered. Semiautonomous and autonomous vehicles use several advanced tools
such as long-range radar, LIDAR, cameras, short/medium radar, and ultrasound to gather
information and understand the world around them. After collection of data through
different tools, AI analyzes the situation through its technologies such as machine & deep
learning, natural language processing, and computer vision. Artificial intelligence has
several applications for these vehicles such as, incorporates speech recognition for
advanced communication with passengers, directs vehicles towards refueling station or
recharge station when it is running low on fuel and Analyzes less populated and congested
roads among others.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/4638
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.
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.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/4638
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 FINDINGS OF THE STUDY
- 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 market in 2017.
- In 2017, the machine learning & deep learning based on the technology segment
accounted for the highest revenue.
- North America held the majority of market share in 2017.
- LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at:
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000
selective, off-the-shelf reports on niche markets to enable our clients gain deep insights
on the latest trends, dynamic technologies, and emerging application areas.
Self-Driving Truck Market - Global Opportunity Analysis and Industry Forecast,
2020-2025 [https://www.alliedmarketresearch.com/self-driving-truck-market ]
Automotive Electronic Control Unit (ECU) Market - Global Opportunity Analysis and
Industry Forecast, 2014-2022
Allied Market Research (AMR) is a full-service market research and business-consulting
wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides
global enterprises as well as medium and small businesses with unmatched quality of
"Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view
to provide business insights and consulting to assist its clients to make strategic
business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in
digging out market data that helps us generate accurate research data tables and confirms
utmost accuracy in our market forecasting. Each and every data presented in the reports
published by us is extracted through primary interviews with top officials from leading
companies of domain concerned. Our secondary data procurement methodology includes deep
online and offline research and discussion with knowledgeable professionals and analysts
in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: +1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1 855 550-5975
SOURCE Allied Market Research
||Intralinks Chosen by Capco for Secure Content Collaboration Needs | Aug 20, 2018
||Xilinx Unveils its Vision for the Future of Computing, Details New Programmable Engine Fabric and Multiple AI Technologies | Aug 19, 2018
||Going Beyond With AndBeyond.Media - A Swanky New Instagrammable Office & a New Venture Into Influencer Marketing | Aug 19, 2018
||IBM Foundation and National Center for Learning Disabilities Release Watson-Enabled Tool for Teachers | Aug 16, 2018
||Global Market Study on Keyless Entry System: Biometrics Poised to Account for Fostering Revenue, Predominantly in China | Aug 16, 2018
||Wolters Kluwer Introduces Enhanced Resources for Educators Publication Website | Aug 16, 2018
||Marne Martin Appointed as President of IFS's Service Management Business Unit and CEO of WorkWave | Aug 16, 2018
||Global Oral Proteins and Peptides Market to 2030 | Aug 16, 2018
||Global Point-of-Care Ultrasound Device Market, 2015-2018 & 2025 | Aug 16, 2018
||Thought Logic Consulting Makes Top 100 of Inc. 5000's Fastest Growing Companies for the Second Year in a Row | Aug 16, 2018