In terms of value, the global artificial intelligence market for automotive and transportation industry is expected to grow at a CAGR of 13.12% during the forecast period 2019-2029.
The Artificial Intelligence (AI) market for automotive and transportation industry was valued at $19.17 billion in 2018 and is expected to reach $69.05 billion by 2029, registering a CAGR of 13.12% between 2019 and 2029. The key players in the global artificial intelligence market for automotive and transportation industry are Continental AG, Denso Corporation, Nvidia Corporation, Intel Corporation, Harman International, and Visteon Corporation, among others.
These companies adopt different strategies such as product launches, business expansions, mergers/collaborations/partnerships, and product developments in order to enhance their market share and widen their regional foothold.
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As the sales for passenger vehicles increase, the demand for various convenience and safety features in vehicles to avoid any road accidents from end users increases for enhanced driving experiences. In the supply side, automotive OEMs also face tough competition from each other to increase their sales, and many have adopted strategies to utilize the latest technologies and driving features in their vehicles to increase their customer bases.
These factors are anticipated to help the market for AI in passenger vehicles grow at an exponential rate during the forecast period.
Key Questions Answered in the Report:
- Which global factors are expected to impact the artificial intelligence market for automotive and transportation industry in the future?
- What is the estimated size of the global artificial intelligence market for automotive and transportation industry in terms of value from 2018 to 2029?
- How much value is expected to be generated by the following segments during the forecast period, 2019-2029:
o On the basis of application – human-machine interface, driver monitoring, driver authentication, autonomous driving processing chips, and intelligent traffic management system
o On the basis of type of vehicles − passenger vehicles, light commercial vehicles, heavy trucks, and heavy buses
o On the basis of type of components – hardware and software
o On the basis region – North America, Europe, Asia-Pacific, Africa, and Latin America
- Which autonomous driving level is expected to be dominant in the forecast period 2019-2029?
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