(MENAFN- GlobeNewsWire - Nasdaq) Selbyville, Delaware , Nov. 15, 2023 (GLOBE NEWSWIRE) -- Automotive AI Chipset market is projected to reach USD 15 billion by 2032, according to the latest report by Global Market Insights Inc.
Global Automotive AI Chipset industry value could surpass USD 15 billion by 2032, cites the latest research analysis by Global Market Insights Inc. As per the report, the market is underpinned by a growing prevalence of partnerships and contracts among industry leaders, fortifying collaborative endeavors that contribute to sustained growth. In November 2023, Ambarella, Inc., a semiconductor company specializing in edge AI, and Canopy, a smart vehicle security startup, jointly selected Ambarella's AI computer vision system-on-chip (SoC) CV25 by Canopy for its Canopy Pickup Cam system.
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This system, a collaborative effort between ADT and Ford, is designed for real-time monitoring and threat detection in truck beds compatible with most pickup trucks. Canopy's security system employs Ambarella's CV25 SoC to proactively monitor cargo, sending automatic alerts upon detecting suspicious activity, thereby offering a proactive security solution distinguishing itself from traditional alarms. The relentless pursuit of enhanced safety features, coupled with the integration of AI for predictive maintenance, is fueling the adoption of automotive AI chipsets market demand.
GPU to gain prominent shares
GPU automotive AI chipset market could exhibit a decent growth rate over 2023-2032, claims the report. GPUs play a pivotal role in processing the complex algorithms and computations required for AI applications in vehicles. With the rising integration of AI for tasks like autonomous driving and intelligent navigation, the automotive AI chipsets market share is on the upswing. This surge underscores the critical role GPUs play in shaping the technological landscape of automotive AI, as they contribute to enhanced performance and efficiency in processing AI-driven functionalities.
Commercial vehicle to expand market demand
Commercial vehicle segment will register a noteworthy CAGR from 2023 to 2032, as per the report. As commercial vehicles embrace advanced driver-assistance systems (ADAS) and autonomous functionalities, the need for sophisticated AI chipsets becomes paramount. These chipsets empower commercial vehicles with enhanced safety, efficient fleet management, and intelligent navigation. The increasing integration of AI-driven technologies in commercial vehicles positions AI chipsets as instrumental components, driving the automotive AI chipsets market share in the segment.
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Asia Pacific to witness a high revenue share
Asia Pacific automotive AI chipset market will register a robust CAGR from 2023 to 2032, owing to countries like China being at the forefront of technological advancements, leading to a growing emphasis on intelligent transportation systems, autonomous vehicles, and connected cars. The demand for Automotive AI Chipsets in Asia Pacific is fueled by the region's commitment to smart mobility solutions, pushing for enhanced safety features, efficient traffic management, and innovative automotive technologies. This underscores the pivotal role of AI chipsets in shaping the future of the automotive landscape in the Asia Pacific.
Automotive AI Chipset Market Player
Nvidia, Renesas Technologies, Qualcomm, Intel, among others. Companies within the automotive AI chipset industry are consistently advancing their technology in several industries to fortify their foothold.
For instance, in October 2023, Qualcomm unveiled its cutting-edge flagship chipset, the Snapdragon 8 Gen 3, showcasing enhanced AI capabilities, efficiency, and performance at the Snapdragon Summit 2023. Engineered to provide users with accelerated CPU performance, superior graphics capabilities, and AI enhancements, the chipset boasts best-in-class power efficiency. With an upgraded Adreno GPU, faster modem, and improved connectivity options, the Snapdragon 8 Gen 3 stands out in the mobile chipset arena. A key highlight is its advanced onboard AI features, seamlessly integrating high-performance AI across the system for premium-level performance, as emphasized by Qualcomm.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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