In a recent published report, Kenneth Research has updated the market report for Automotive Artificial Intelligence Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Automotive Artificial Intelligence Market products.
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By Technology (Computer Vision, Natural Language Processing, Deep Learning, Machine Learning, Context Awareness), Component (Software, Hardware), Process (Image Recognition, Data Mining, Signal Recognition), Application (Semi-autonomous Driving, Autonomous Driving, Human–Machine Interface), and Regional Market Size, Status and Forecast to 2025
The Global Automotive Artificial Intelligence Market was valued at USD 572.54 million in 2016 and is projected to reach USD 10,862.51 million by 2025, growing at a CAGR of 38.68% from 2017 to 2025.
The Automotive industry has seen the promise of artificial intelligence (AI) technology, and is among the industries at the forefront of using AI to augment human actions and to mimic the actions of humans. Benefits of automotive artificial intelligence include – driverless cars, smarter, safer and affordable, assisted features, cognitive predictive maintenance.
1. Market Drivers
1.1 Rising demand for premium segment vehicles
1.2 Increasing trend of autonomous vehicle
1.3 Growing demand for enhanced user experience
1.4 Rising government regulations for vehicle safety
1.5 Growing adoption of ADAS technology
2. Market Restraints
2.1 Maintaining the Balance Between Cost and Quality
2.2 Increasing cyber security threats for vehicles
2.3 High overall cost of a vehicle
The Global Automotive Artificial Intelligence Market is segmented on the technology, component, process, application, and region.
1.1 Computer Vision
1.2 Natural Language Processing
1.3 Deep Learning
1.4 Machine Learning
1.5 Context Awareness
2. By Component:
3. By Process:
3.1 Image Recognition
3.2 Data Mining
3.3 Signal Recognition
4. By Application:
4.1 Semi-autonomous Driving
4.2 Autonomous Driving
4.3 Human–Machine Interface
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. Intel Corporation
2. NVIDIA Corporation
3. Alphabet Inc.
4. IBM Corporation
5. Microsoft Corporation
6. Harman International Industries, Inc.
7. Qualcomm Inc.
8. Tesla, Inc.
9. Xilinx Inc.
10. Audi AG
11. Volvo Car Corporation
12. Toyota Motor Corporation
13. Hyundai Motor Company
14. Ford Motor Company
15. Honda Motor Co. Ltd.
16. Uber Technologies, Inc.
17. Daimler AG
18. Didi Chuxing
19. General Motors Company
20. Bayerische Motoren Werke AG
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Automotive Artificial Intelligence Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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