Dublin, Nov. 04, 2022 (GLOBE NEWSWIRE) -- The "Automotive Artificial Intelligence Global Market Report 2022, By Type, By Process, By Technology, By Application" report has been added to ResearchAndMarkets.com's offering.
The global automotive artificial intelligence market is expected to grow from $1.42 billion in 2021 to $1.98 billion in 2022 at a compound annual growth rate (CAGR) of 39.62%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $7.78 billion in 2026 at a CAGR of 40.79%.
The main types of automotive artificial intelligence include automotive drive and ADAS. The different process of automotive artificial intelligence includes signal recognition, image recognition, and data mining. The different technologies used in automotive artificial intelligence include deep learning, machine learning, context awareness, computer vision, and natural language processing. The automotive artificial intelligence are used in semi-autonomous driving, autonomous driving and human machine interface.
North America was the largest region in the automotive artificial intelligence market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing demand for autonomous vehicles is expected to propel the growth of the automotive artificial intelligence market. Artificial intelligence has a wide range of applications in the automotive industry. As technology evolves, the automobile industry has taken advantage of new discoveries to provide new ways to make driving more autonomous. Using artificial intelligence to develop self-driving automobiles is one of them. A self-driving car (also known as an autonomous car or driverless car) is a vehicle that travels to locations without the need for a human driver by utilising a variety of sensors, radars, cameras, and artificial intelligence. For instance, according to Deloitte, the global automotive AI market will culminate in a total volume of around $27 billion in 2025. Therefore, a rise in demand for automotive cars drives the growth of automotive artificial intelligence.
Strategic collaborations between companies are a key trend gaining popularity in the automotive artificial intelligence market. Companies providing artificial automotive intelligence are undergoing partnerships and collaboration to develop new technologies and products. For instance, in May 2021, a mobile transportation company based in China and Volvo, an automobile manufacturing company based in Sweden, are involved in a partnership with automatic driving vehicles. Through this partnership, Volvo will provide Didi with XC90 SUVs fitted with steering and brake backup systems.
The vehicles will be the first to use Didi Gemini, the ride-hailing company's new self-driving hardware platform, and will be tested with human safety drivers. In the other partnership, in February 2021, Volkswagen, a German-based automobile manufacturer, and Microsoft, an American multinational technology corporation that produces computer software, consumer electronics, personal computers, and related services, partnered to develop self-driving car software.
Scope
Markets Covered:
1) By Component: Hardware; Software; Service
2) By Type: Automatic Drive; ADAS
3) By Process: Signal Recognition; Image Recognition; Data Mining
4) By Technology: Deep Learning; Machine Learning; Context Awareness; Computer Vision; Natural Language Processing
5) By Application: Semi-Automatic; Human Machine Interface; Autonomous Driving
Key Topics Covered:
1. Executive Summary
2. Automotive Artificial Intelligence Market Characteristics
3. Automotive Artificial Intelligence Market Trends And Strategies
4. Impact Of COVID-19 On Automotive Artificial Intelligence
5. Automotive Artificial Intelligence Market Size And Growth
6. Automotive Artificial Intelligence Market Segmentation
7. Automotive Artificial Intelligence Market Regional And Country Analysis
8. Asia-Pacific Automotive Artificial Intelligence Market
9. China Automotive Artificial Intelligence Market
10. India Automotive Artificial Intelligence Market
11. Japan Automotive Artificial Intelligence Market
12. Australia Automotive Artificial Intelligence Market
13. Indonesia Automotive Artificial Intelligence Market
14. South Korea Automotive Artificial Intelligence Market
15. Western Europe Automotive Artificial Intelligence Market
16. UK Automotive Artificial Intelligence Market
17. Germany Automotive Artificial Intelligence Market
18. France Automotive Artificial Intelligence Market
19. Eastern Europe Automotive Artificial Intelligence Market
20. Russia Automotive Artificial Intelligence Market
21. North America Automotive Artificial Intelligence Market
22. USA Automotive Artificial Intelligence Market
23. South America Automotive Artificial Intelligence Market
24. Brazil Automotive Artificial Intelligence Market
25. Middle East Automotive Artificial Intelligence Market
26. Africa Automotive Artificial Intelligence Market
27. Automotive Artificial Intelligence Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Artificial Intelligence Market
29. Automotive Artificial Intelligence Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- DiDi Chuxing Technology
- Otto Motors
- Waymo LLC
- Microsoft Corporation
- Intel Coroporation
- NVIDIA Corporation
- BMW AG
- IBM Corporation
- Harman International Industries Inc.
- Xilinx Inc.
- Qualcomm Inc.
- Tesla Inc.
- Volvo Car Corporation
- Micron Technology, Inc.
- Toyota
- Uber Technologies
For more information about this report visit https://www.researchandmarkets.com/r/k437jb
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