Artificial Intelligence (AI) in Automotive Market is Increasing Rapidly 2021-2027 | Global Players – Audi AG, BMW AG, Daimler AG, Didi Chuxing, Ford Motor Company

Artificial Intelligence (AI) in Automotive Market

The Artificial Intelligence (AI) in Automotive Market size is estimated to grow from USD 5.01 Billion in 2019 to USD 36.80 Billion by 2027, growing at a CAGR of 33.31% during the forecast year from 2021 to 2027.

Latest added Artificial Intelligence (AI) in Automotive Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Alphabet Inc., Audi AG, BMW AG, Daimler AG, Didi Chuxing, Ford Motor Company, General Motors Company, Harman International Industries, Inc., Honda Motor Co., Ltd., IBM Corporation, Intel Corporation, Microsoft Corporation, NVIDIA Corporation, Qualcomm Inc., Tesla, Inc., Toyota Motor Corporation, Uber Technologies, Inc., Volvo Car Corporation, and Xilinx. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

This report studies the Artificial Intelligence (AI) in Automotive Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Artificial Intelligence (AI) in Automotive Market by companies, region, type and end-use industry.

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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on “Artificial Intelligence (AI) in Automotive Market Size, By Component (Software, Hardware, Service), Technology (Computer Vision, Context Awareness, Deep Learning), Process (Data Mining, Image/Signal Recognition) and Application: Global Forecast 2027”. Early buyers will get 10% customization on study.

To Avail deep insights of Artificial Intelligence (AI) in Automotive Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.

Unlock new opportunities in Artificial Intelligence (AI) in Automotive Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.

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The Artificial Intelligence (AI) in Automotive Market size is estimated to grow from USD 5.01 Billion in 2019 to USD 36.80 Billion by 2027, growing at a CAGR of 33.31% during the forecast year from 2021 to 2027.

Artificial intelligence (AI) in automotive industry is expected to cause a profound disruption by streamlining production capabilities and augmenting business growth. The design and deployment of novel technologies including autonomous mobility, vehicle simulations, rapid prototyping, and AI-enabled automotive factories are creating a positive outlook for the autonomous technologies market. Auto manufacturers are rapidly upgrading their existing production systems by incorporating AI platforms and are increasingly focusing on the development of autonomous vehicles to improve passenger mobility. For instance, in October 2019, Tesla announced the early release of its fully autonomous vehicles by Q1 2020 for capturing early mover advantage.

The AI in automotive market growth is attributed to the increasing popularity of autonomous vehicles for increased driver comfort and reducing accidents. The U.S. National Highway Traffic Authority has estimated that the deployment of autonomous vehicles could save USD 300 billion by 2025, reducing collisions and enabling safe driving. The increasing positive perception among consumers regarding autonomous technologies will complement the market revenue. As consumers are rapidly adopting driver-assist technologies to reduce driving burden and ensure road safety, the demand for autonomous vehicles will surge prolifically over the forecast timespan. Automotive manufacturers are taking note of these trends and are offering innovative driver assistance solutions to gain a competitive advantage.

In March 2019, BMW and Daimler entered into a strategic collaboration to develop new ADAS solutions and establish industry standards to influence future regulations on driver assistance technologies. Another factor contributing to the AI in automotive market share is the increasing demand for driver convenience and improving access to mobility. Autonomous technologies can help persons with disabilities and senior citizens have access to self-driven mobility, reducing long-distance truck & bus driver fatigue. For instance, in March 2018, the Netherlands government announced a partnership with Belgium and Germany to introduce truck platooning corridors, facilitating the movement of 100 self-driving trucks during the night. Similarly, in November 2018, Singapore announced the launch of driverless buses & shuttles to reduce peak traffic loads starting 2022. However, expensive autonomous technologies, issues concerning accidents of self-driving cars, and the risks of cyber-attacks on connected vehicles may hinder the market demand from 2020 to 2026.

Growing uptake of AI optimized GPUs augmenting the hardware segment

The adoption of AI hardware will witness a rapid surge to enable self-driving technologies and improve AI algorithms through dedicated AI-enabled GPUs. The increasing importance of perception sensors including high-resolution cameras, LiDAR, and radar in providing accurate localization & context awareness to onboard AI systems is accentuating the growth of the hardware segment. Furthermore, the development of AI optimized processors and computing hardware will enable enterprises to design and deploy improved autonomous solutions. For instance, in September 2019, Horizon Robotics, a leading AI computing company, introduced its 2nd generation automotive AI processor – Horizon Journey 2. This new solution is helping automotive manufacturers to incorporate next-generation ADAS capabilities and intelligent cockpit experiences with limited power consumption and high efficiency.

Extensive usage of deep learning for improving self-driving algorithms

The deep learning segment for artificial intelligence (AI) in automotive market is expected to witness a lucrative growth of over 45% CAGR from 2020 to 2026 due to the extensive adoption of deep learning solutions for training neural networks to mimic human-like driving behavior. AI algorithms can be improved significantly through advanced deep learning mechanisms to ensure safety during the journey. Additionally, as these systems are powered by AI technologies, chances of error during on-road decision making is minimized. Leading AI solution providers including NVIDIA, Intel, and Microsoft are focusing on developing energy-efficient deep learning solutions with low power consumption to increase fuel efficiency. For instance, in March 2017, Bosch, partnered with NVIDIA for developing a new AI self-driving car computer. This new system is designed to process up to 30 trillion deep learning operations every second while drawing just 30 watts of power.

Growing importance of image/signal recognition for speed control

The image/signal recognition segment held the majority of the AI in automotive market share with over 65% in 2019 and is expected to continue its dominance over the forecast timespan due to the increasing deployment of traffic sign recognition software in autonomous vehicles. This software ensures that vehicles adhere to speed limits by detecting speed limit signs and automatically reducing vehicle speed as per the regulation. Additionally, the recognition software can also detect traffic signs such as lane changes and stop-go signs to appropriately maneuver the vehicle in dense traffic conditions. With the increasing rate of road accidents caused due to over-speeding, implementation of image/signal recognition solutions will drastically improve road safety. In March 2019, the European Commission has made traffic sign recognition mandatory for all vehicles manufactured from 2022 to ensure smooth traffic flow and minimize over-speeding accidents.
AI technologies profoundly impacting semi-autonomous vehicles in Europe

In Europe, the semi-autonomous vehicles segment will grow at an impressive CAGR of over 33% by 2026 due to the extensive demand for driver-assistance technologies and facilitating driving during heavy traffic scenarios. Semi-autonomous technologies have already been rolled out for production and are expected to commercialize significantly over the forecast timespan. Major automotive manufacturers in Europe such as Toyota, and BMW have been offering semi autopilot and drive cruise control in their latest models. Driver behavior monitoring, road condition awareness, and lane tracking are a few of the innovative solutions that have been introduced through the implementation of AI technologies in semi-autonomous vehicles. Furthermore, the supporting initiatives from various governments to incorporate semi-autonomous vehicle technologies by 2022 will positively impact industry growth.

Presence of major automakers fueling market growth in Germany

The Germany AI in automotive market is expected to exhibit a lucrative growth over the forecast timeline due to a high concentration of leading automotive manufacturing companies such as Audi, BMW, Mercedes-Benz, and Porsche, which are fueling the research & development of autonomous vehicle technologies. These OEMs are offering driver assistance systems in the majority of their mass-produced vehicles, pushing Germany as a global hub for automated mobility. According to the data reported by the World Intellectual Property Organization in 2018, German auto manufacturers accounted for over 51% of the total autonomous driving patents filed globally. Furthermore, the growing acceptance of additional comfort and next generation driving features among German citizens is proliferating the growth of AI technologies across the country. With a pool of established automotive players and a maturing AI landscape, the rapid adoption of autonomous technologies is underway in Germany.

Focus on R&D and joint ventures to accelerate technology development

Prominent players operating in AI businesses are focusing on strengthening their R&D capabilities and forging strategic alliances with other leading enterprises for speeding up the technology development cycle. For instance, in June 2019, Audi partnered with Alibaba AI Labs in conjunction with Honda and Renault to jointly focus on the R&D of AI and voice technology. The partnership helped the company to integrate Tmall Genie Auto technology in its cars, helping drivers to control their cars through voice commands and providing an intelligent connected ecosystem for drivers. New entrants are focusing on raising investor funding and new product developments to register significant business growth. For instance, in July 2019, ARGO AI, an autonomous vehicle startup, raised USD 2.6 billion in capital and assets from the Volkswagen Group. The funding helped the company to expand its workforce by 40% and handle the autonomous technology development division of Volkswagen.
Some of the players operating in the AI in automotive industry include Alphabet Inc., Audi AG, BMW AG, Daimler AG, Didi Chuxing, Ford Motor Company, General Motors Company, Harman International Industries, Inc., Honda Motor Co., Ltd., IBM Corporation, Intel Corporation, Microsoft Corporation, NVIDIA Corporation, Qualcomm Inc., Tesla, Inc., Toyota Motor Corporation, Uber Technologies, Inc., Volvo Car Corporation, and Xilinx Inc.
The artificial intelligence in automotive market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026 for the following segments:

Market by Component

  • Hardware
  • Software
  • Service

Market by Technology

  • Computer Vision
  • Context Awareness
  • Deep Learning
  • Machine Learning
  • Natural Language Processing (NLP)

Market by Process

  • Data Mining
  • Image/Signal Recognition

Market by Application

  • Semi-autonomous Vehicles
  • Fully Autonomous Vehicles

The above information has been provided for the following regions and countries:

  • North America
  • Europe
  • Asia Pacific

The base year for calculation in this Artificial Intelligence (AI) in Automotive Market business report is taken as 2020 while the historic year is 2019 which will tell how the market will perform in the forecast years by informing what the market definition, classifications, applications, & engagements are. This Artificial Intelligence (AI) in Automotive Market report is also all-embracing of the data which covers market definition, classifications, applications, engagements, market drivers & market restraints that are based on the SWOT analysis. A large scale Artificial Intelligence (AI) in Automotive Market report is a comprehensive study about the market which tells about the market status in the forecast period of 2021-2027.

Available Customizations :
With the given market data, We offers customizations as per the company’s specific needs. The following customization options are available for the report:
Product Analysis: Product matrix, which gives a detailed comparison of the product portfolios of each company
Geographic Analysis: Further breakdown of the European, Asia Pacific, and the Rest of the World segments into their respective countries for this market
Company Information: Detailed analysis and profiling of additional market players (up to 5)
Volume Data: Customization options for volume data* (number of units sold) and customization options for volume data [* if applicable]
1-year analyst support, along with the data support in excel format.

Opportunities Assessment: A detailed report underlining the various growth opportunities presented in the market

Table of Contents:
1 Market Overview
1.1 Global Artificial Intelligence (AI) in Automotive Introduction
1.2 Market Analysis by Type
1.3 Market Analysis by Applications
1.4 Market Analysis by Regions
1.5 Market Dynamics
1.5.1 Market Opportunities
1.5.2 Market Risk
1.5.3 Market Driving Force
2 Manufacturers Profiles
2.1.1 Business Overview
2.1.2 Artificial Intelligence (AI) in Automotive Type and Applications
2.1.3 Artificial Intelligence (AI) in Automotive Sales, Price, Revenue, Gross Margin and Market Share (2021-2027)
3 Global Artificial Intelligence (AI) in Automotive Market Competition, by Manufacturer
4 Global Artificial Intelligence (AI) in Automotive Market Analysis by Regions
5 Region 1, Type, Application and Manufacturers
10 Global Artificial Intelligence (AI) in Automotive Market Segment by Type
11 Artificial Intelligence (AI) in Automotive Market Segment by Application
12 Artificial Intelligence (AI) in Automotive Market Forecast (2021-2027)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
15 Appendix

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