The automotive AI market is expected to be valued at $782.9 million in 2017 and is expected to reach $10,573.3 million by 2025, at a CAGR of 38.46% between 2017 and 2025. The automotive AI market is expected to exhibit a significant growth between 2017 and 2025.
“Automotive artificial intelligence (AI) market is expected to grow at a CAGR of 38.46%between 2017 and 2025”
APAC houses some of the established automakers such as Toyota (Japan), Hyundai Motor Company (South Korea), and Honda Motor Company (Japan). Countries in APAC, such as South Korea and Japan, have strong technological capabilities. The region, therefore, represents a balanced blend of demand and technology, making it an ideal investment for any OEM.
Browse 66 Market Data Tables and 66 Figures spread through 203 Pages and in-depth TOC on "Automotive Artificial Intelligence Market - Global Forecast to 2025"
The emergence of autonomous vehicle and industry-wide standards such as the adaptive cruise control (ACC), blind spot alert, and advanced driver assistance systems (ADAS) would trigger the growth of the automotive AI market.However, the growing demand for convenience and safety presents an opportunity for OEMs to develop new and innovative artificial intelligence systems that would attract customers.
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“Signal Recognition is expected to hold the largest market share in 2017”
Signal recognition is a method of generating result with the help of speech, visible patterns, and sound. The signals generally refer to the voice or the sound produced by machine or human being, which can be detected by natural language processing (NLP) machines to generate a result.
Signal recognition is an important part of HMI, autonomous, and semi-autonomous driving applications as it can be used for traffic sign detection, driver assistance system, and several other uses. These factors make signal recognition the largest market, by process, in the automotive AI market.
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“Market for autonomous driving application is expected to grow at the highest rate between 2017 and 2025”
Autonomous vehicle is the main target of the AI technology in the automobile industry. In full self-driving vehicles, the system performs all driving functions on all road types, at all speed ranges and environmental situations.
While fully autonomous cars have not yet entered the market, but several companies are committing to their development in the near future. Some companies have begun testing of autonomous cars on city roads as well, with Google’s Waymo leading with almost 3 million self-driven miles on city streets.
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“Automotive AI market in APAC is expected to grow at the highest rate between 2017 and 2025”
North America is expected to be the major contributor to the automotive AI market in 2017. The growth will likely be driven by two key factors: rapid development of autonomous vehicle technology and the strict government regulation for road safety.
For instance, in 2016, the US government has spent USD 4 billion to accelerate the acceptance of autonomous vehicles on US roads. The automotive industry in the US is a highly advanced industry, with the “big three”—Ford Motor Company, General Motors, and Fiat-Chrysler Automotive—continuously upgrading their product portfolios.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profile of primary participants has been given below.
- By Company Type: Tier 1—30 %, Tier 2—45%, and Tier 3—25%
- By Designation: C-Level Executives—35%, Manager Level—40%, and Others (Sales, Marketing, and Product Managers)—25%
- By Region: North America—30%, Europe—45%, APAC—20%, and RoW—5%
The automotive AI market has been segmented on the basis of offering, technology, process, application, and region. The market, on the basis of offering, has been segmented into hardware and software.
On the basis of technology, the market has been segmented into deep learning, machine learning, context awareness, computer vision, and natural language processing. On the basis of process, the market is segmented into signal recognition, image recognition, and data mining.
The market, on the basis of application, has been segmented into human–machine interface, semi-autonomous driving, and autonomous driving.
Benefits of the report:
The report would help the market leaders/new entrants in this market in the following ways:
- This report segments the automotive AI market comprehensively and provides the closest approximation of the size of the overall market and its sub-segments for various applications across different regions.
- The report helps stakeholders understand the pulse of the market and provides them with the information on key market drivers, restraints, challenges, and opportunities pertaining to the market.
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