October 7, 2020

Automotive Artificial Intelligence Market Size, Technology Insights and Forecast Report by 2027

Global Automotive Artificial Intelligence Market was valued at USD 443.5 million in 2018 which is expected to reach USD 8687.2 million by 2027 at a CAGR 44.08%.

For a better understanding of the Automotive Artificial Intelligence market, a better grip over the macroeconomic and microeconomic factors are needed as they are impacting the market towards progress. Those factors can ensure a swift helming of the market by rough patches of economic crisis and help in averting plummeting results. With real-time data, the report captures the essence of the market and provides a close reading of demographic changes. Report would assist key players in assessing growth opportunities and optimally use resources provided by growth pockets.

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Artificial intelligence is the progressive and advanced technology in computer science. This is associated with human intelligence such as reasoning, learning, problem solving, understanding and others. Continuous growth in automotive industry is expected to propel the global automotive artificial intelligence market growth.

Market Drivers

Rise in government rules and regulations for vehicle safety is the key driving factor which is expected to boost the global automotive artificial intelligence market growth. Furthermore, rise in demand for enhanced user experience and convenience features and rise in trends of automotive vehicles will have the positive impact on global automotive artificial intelligence market growth, during this forecast period. In addition to that, rise in demand for autonomous vehicles is expected to fuel the market growth. Also, technological advancements and innovations will drive the global automotive artificial intelligence market growth.

Market Restraints

However, high cost of vehicles is the major challenging factor which expected to hamper the global automotive artificial intelligence market growth. Also, threat to cyber security will affect the market growth.

Market Key Players

Various key players are discussed in this report such as Volvo Car Corporation, Tesla, Inc. Qualcomm Inc., Xilinx Inc., Harman International Industries, Inc., International Business Machines Corporation, Microsoft Corporation, Intel Corporation, and Alphabet Inc.

Market Taxonomy

 By Component

  • Hardware
  • Software
  • Services

By Technology

  • Computer Vision
  • Natural Language Processing
  • Machine Learning & Deep Learning

By Application

  • Fully autonomous
  • Semi-Autonomous

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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