Market Size of Automotive Artificial Intelligence (AI)

TOKYO, September 22, 2022 (GLOBE NEWSWIRE) – World Automotive Artificial Intelligence (AI) Market Size It was valued at $2.9 billion in 2021. The development in the automotive industry is supposed to drive the AI ​​market for cars. The auto industry has faced a guarantee of human consciousness and is among the important companies that use artificial intelligence to augment and copy people’s activity. Besides, the development of standards such as the high-level driver helps in the framework (ADAS), versatile cruise control (ACC), poor lateral alertness, and the upgrading required for comfort features are drawing car dealers toward AI.

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Computerized thinking (AI) frameworks are used to change, cycle, and information abilities and computations to simulate the scientific elements of the human brain, acquiring the ability to naturally retain and identify problems. Vehicles with outstanding self-driving features are bound to take such frameworks to work on their productivity and operation.

a key ideas:

  • The hardware segment captured a market share of over 58% in 2021.
  • The market share of the Asia Pacific region reached more than 80% in 2021.
  • Through the application, the semi-autonomous segment achieved a market share of 53% in 2021
  • Through technology, the computer vision segment contributed a market share of over 34% in 2021.

regional shot

The auto AI market in the Asia Pacific region is supposed to develop at a high rate somewhere around 2021-2030. The massive population of the Asia Pacific region, the rapidly growing economies, and the rising expectations of everyday amenities are strategically positioned to ride the wave of AI. This region includes automakers such as Toyota (Japan), Hyundai Motor Company (South Korea), and Honda Motor Company (Japan). Various countries in the Asia Pacific region, such as South Korea and Japan, have serious strength areas in order to have capabilities. Thus, the district takes on a reasonable mix of interest and innovation, making it an ideal project for any manufacturing plant.

Highlights Report

  • Depending on the type of component, the software segment is expected to retain a larger share in terms of parts, and continually reduce the link cost of cloud-based programming arrangements close to the growing need to link different distinct information to the steady mix of cycles that will fulfill the emerging programming segment as the critical financial sector pro-parts. The part must remain aware of its slice of the pie during guessing time with recent developments arising from watchdog monitoring and must update the structures to simplify the cycles and exercises within the automotive business.
  • based on technology, PC Vision is arranged to make an impact in the human-made knowledge market for vehicles in general with a high rate of improvement. PC Vision is ready to show the fastest progress across the comprehensive intellectual prowess market for man-made vehicles. Two associations around the world have begun to adopt Image Affirmation as one of the man-made knowledge-based schemes in free or semi-free applications that the majority consider typical of reshaping their businesses.

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Report scope

Report Attributes details
Market size in 2021 2.9 billion USD
Revenue forecast by 2030 19.1 billion US dollars
Europe market share 28% in 2021
compound annual growth rate 23.3% from 2022 to 2030
base year 2021
prediction year 2022 to 2030
The main players Intel Corporationm and Waymo, LLC. , IBM Corporation, Microsoft Corporation, Nvidia Corporation, Xilinx, Inc. , and Micron Technology, Inc. , and Tesla, Inc. , General Motors Company, Ford Motor Company and others.

market dynamics

drivers

Increased market returns due to technological advancement

  • Increased positive knowledge among buyers regarding free contracts will boost market wages. As buyers advance rapidly in driver assistance while reducing driving weight and ensuring road prosperity, attention to self-driving vehicles It will usefully overflow throughout the measurement time frame. Car producers note these examples and provide innovative driver responses while gaining a high ground. Other variables adding to the market share of automotive AI are increased revenue for driver comfort and more permission for adaptability.

limitations

Lack of awareness and high cost of artificial intelligence-based cars

  • Autonomous vehicles have made the customer’s presence both protected and beneficial. Despite this, there are definite risks that its makers consider with regard to security and protection concerns such as the safety of individual information, digital attacks, and driver interruptions. For example, about 1.4 million Fiat Chrysler cars were reviewed in the United States due to a fault in the dashboard computers that allowed programmers to weaken the car. Essentially, white hat programmers were instrumental in including the malware in the Tesla’s car order. These examples of interference with client security are part of the important constraints in market development.

chances

The increasing advancements in automotive technology are expected to generate higher revenue

  • The car area is close to the edge of a massive disturbance. Dreamy automakers are beginning to implement creative developments in their components and cycles to stay one step ahead of their peers in the industry. Man-made brainpower and a mix of information sciences have aided auto producers, as well as parts suppliers, programming suppliers, car rental companies, and other auto-related tasks. In the broadest sense, one can divide AI in the car space into three categories, particularly in relation to vehicles. There is a craft plan and its creation. There is a purchase project.

Challenges

The lack of trust among consumers is one of the main challenges faced by the market

  • Another concern automakers now face is gaining customer trust. Even though you would be willing to have a vehicle to assist with navigation, the equivalent is not valid for self-driving vehicles. People are growing eager to believe in AI in vehicles at an exceptionally slow rate: the numbers are unchanged during 2020 and 2021, with only an 8% rise from 2019. This is how things look now: Existing customers assert that the car should be utilitarian, agreeable, And secure, and give the added benefit of entertainment, but stay subordinate (unconfused) while out.

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Recent Developments

  • In March 2021, BMW introduced iDrive 8, the company’s next infotainment system, which aims to be a digitally connected, intelligent and proactive drive. Future BMW iX and i4 models will be powered by computer vision, computational linguistics, AI cloud and 5G.
  • In May 2021, DiDi Chuxing announced a strategic partnership with Volvo Cars on self-driving vehicles for DiDi’s self-driving test fleet. Volvo’s XC90 self-driving cars will be the first to integrate DiDi Gemini, a new self-driving hardware platform, and equipped with NVIDIA DRIVE AGX Pegasus. These vehicles, equipped with DiDi’s Gemini’s self-driving hardware platform, will eventually be deployed to robotaxi services.
  • In June 2020, Waymo and Volvo Cars agreed to collaborate on improving a self-driving electric vehicle for use in passenger cars as a feature for another global partnership. Waymo will focus on computational thinking and clear innovation, similar to cameras, lidar and radar, for the independent “driver.” Volvo will plan and build the vehicles.
  • In July 2019, the Volvo Group and NVIDIA agreed to work as a team on the dynamic framework for autonomous commercial vehicles and machines. The later framework aims to safely supervise autonomous driving on streets and open roads using NVIDIA’s starter to end the man-made awareness phase for in-vehicle preparation, re-enactment and registration.

Market segmentation

by presenting

by technology

  • computer vision
  • context awareness
  • deep learning
  • machine learning
  • natural language processing

According to the application

  • Self-driving
  • human-machine interface
  • semi-autonomous driving

According to the process

  • Signal recognition
  • Image recognition
  • Voice recognition
  • mining data

by component

  • Graphics Processing Unit (GPU)
  • Field Programmable Gate Array (FPGA)
  • Microprocessor (including ASIC)
  • image sensors
  • Memory and storage systems
  • Biometric Scanners
  • Aharon

by geography

  • North Amarica
  • Europe
  • Asia Pacific
  • Latin america
  • Middle East and Africa (MEA)

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