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Advances in machine learning and computer vision will improve vehicle safety and performance through the integration of AI technology.
Wilmington, Del., USA, Transparency Market Research, Inc., October 8, 2024 (Globe Newswire) — The global automotive artificial intelligence (AI) market will grow at a CAGR of 15.6% from 2024 to 2034. It is estimated that it will grow. Transparency Market Research predicts that the overall sales revenue of the automotive artificial intelligence (AI) market (자동차 인공지능(AI) 시장) is estimated to reach USD 13 billion by the end of 2034 .
A key driver is the rise of edge computing in automotive AI applications. Edge computing enables data processing closer to the source, reducing latency and enhancing real-time decision-making capabilities in self-driving and connected vehicles.
The emergence of AI-powered cybersecurity solutions is gaining traction in the automotive sector. As vehicles become more connected and autonomous, the threat landscape expands and requires robust cybersecurity measures to protect against potential cyberattacks and data breaches.
Integrating AI into the automotive design and manufacturing process streamlines product development and improves operational efficiency. AI-powered design tools and simulation software optimize vehicle performance, accelerate time to market, minimize manufacturing defects, drive cost savings, and improve product quality.
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Artificial Intelligence (AI) Market in Automotive: Competitive Landscape
In the competitive automotive artificial intelligence (AI) market, industry leaders such as NVIDIA, Intel, and Alphabet’s Waymo are driving innovation with advanced AI solutions.
These companies specialize in developing AI-powered systems for autonomous driving, vehicle connectivity, and predictive maintenance. Startups like Mobileye and Argo AI are challenging incumbents with expertise in computer vision and machine learning algorithms.
Traditional car manufacturers such as Toyota and BMW are investing heavily in AI research and development to integrate intelligent features into their vehicles. The competitive landscape is continually evolving as companies vie for an edge in shaping the future of automotive AI technology. Notable players include:
waymo
tesla company
NVIDIA Corporation
Intel Corporation
bosch group
mobile eye
Aptiv PLC
Daimler AG
ford motor company
general motors company
Toyota Motor Corporation
bmw group
Audi AG
Continental AG
Uber Technologies Co., Ltd.
volvo cars
ZF Friedrichshafen AG
Valeo SA
Hyundai Motor Co., Ltd.
Baidu Co., Ltd.
story continues
product portfolio
Waymo is a subsidiary of Alphabet Inc. and a pioneer in self-driving technology. The company’s self-driving cars use advanced sensors and AI algorithms to navigate roads safely and provide a glimpse into the future of transportation.
Tesla, Inc. is revolutionizing the automotive industry with electric vehicles, solar energy solutions, and energy storage products. Their innovative technology and sustainable approach redefines mobility and energy consumption around the world.
Key findings of the market report
SUVs are leading the automotive AI market due to their popularity and demand for advanced safety, connectivity, and self-driving features.
Computer vision has emerged as a major technology type segment in the automotive AI market, enabling advanced perception and recognition capabilities in vehicles.
Processors have emerged as a major component type segment in the automotive AI market, driving advances in computing power and efficiency.
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Artificial Intelligence (AI) in Automotive Market Growth Drivers and Trends
The growing demand for autonomous vehicles and connected car technologies is driving the growth of the AI market for automotive applications.
Advances in machine learning and computer vision technology improve vehicle safety and performance.
Collaboration between automakers and technology companies will accelerate AI integration into vehicles.
Predictive maintenance and vehicle analytics will become increasingly important, driving the adoption of AI in vehicle manufacturing and operations.
Regulatory initiatives and government support for AI R&D are driving innovation and market expansion in the automotive sector.
Global Artificial Intelligence (AI) Market in Automotive: Regional Profile
North America is leading the charge, boasting a robust ecosystem of AI startups, tech giants, and automakers. Silicon Valley serves as a hub for AI innovation, with companies like NVIDIA, Tesla, and Alphabet’s Waymo driving advances in self-driving technology.
Partnerships between automakers and tech companies will accelerate the integration of AI into vehicles, putting North America at the forefront of shaping the future of automotive AI.
Europe boasts a rich tradition of automotive engineering excellence, with companies such as BMW, Daimler, and Volkswagen employing AI to improve vehicle performance and safety.
Collaborations between European automakers and AI startups will foster innovation in areas such as predictive maintenance and intelligent manufacturing, strengthening Europe’s position as a key player in automotive AI development.
In Asia Pacific, rapid urbanization and technological innovation are driving the adoption of AI in automotive applications. Companies such as Toyota, Hyundai, and Baidu are leading the region’s AI initiatives with AI-driven solutions for autonomous vehicles, smart mobility, and connected car technology.
Government support for AI R&D is further accelerating market growth, making Asia Pacific a dynamic hub for automotive AI innovation.
Artificial Intelligence (AI) Market in Automotive: Key Segments
By car type
By technology type
By component type
hardware
sensor
processor
graphics processing unit
others
software
service
By level of autonomy
Level 1: Driving assistance
Level 2: Partial automation
Level 3: Conditional automation
Level 4: Advanced automation
Level 5: Full automation
By use
autonomous driving
predictive maintenance
Driving support system
In-vehicle personal assistant
Natural language processing (NLP) for speech recognition
Computer vision for object detection and recognition
Virtual assistant for infotainment systems
AI-based navigation system
Vehicle-to-Everything (V2X) communication
others
By end user
By region
North America
Europe
Asia Pacific
south america
middle east and africa
Buy this premium research report: https://www.transparencymarketresearch.com/checkout.php?rep_id=86012 Explore more trend reports from Transparency Market Research: Automotive chip market – The automotive chip market (자동차 칩 시장) is expected to grow at a CAGR of 6.4% to USD 146.7 billion by 2034 | TMR Research Tricycle Market – The size of the tricycle market (삼륜차 시장) will reach USD 14.7 billion by 2031 | TMR Research Automotive Smart Electric Drives Market – The Automotive Smart Electric Drives Market (자동차 스마트 전기 드라이브 시장) is estimated to grow at a CAGR of 18.6% from 2024 to 2034 Automotive Sensor Market – The automotive sensor market (자동차 센서 시장) is expected to grow at a CAGR of 5.0% from 2024 to 2034. About transparency market research Transparency Market Research is a global market research firm registered in Wilmington, Delaware, USA, providing custom research and consulting services. Our unique combination of quantitative forecasting and trend analysis provides forward-looking insights to thousands of decision makers. Our experienced team of analysts, researchers, and consultants uses proprietary data sources and a variety of tools and techniques to gather and analyze information. Our data repository is continually updated and revised by our team of research experts to ensure it always reflects the latest trends and information. With extensive research and analytical capabilities, Transparency Market Research employs rigorous primary and secondary research methodologies in developing unique datasets and research materials for business reports. contact:
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