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Automotive Artificial Intelligence Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Automotive Artificial Intelligence Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 16, 2024 /EINPresswire / -- The automotive artificial intelligence market has experienced robust growth in recent years, expanding from $2.72 billion in 2023 to $3.82 billion in 2024 at a compound annual growth rate (CAGR) of 40. 3%. The growth in the historic period can be attributed to rise of connected cars and IoT in automotive industry, adoption of ai for predictive maintenance in vehicles, implementation of ai in autonomous vehicle development, increasing emphasis on in-car personalization through ai.
What Is The Estimated Market Size Of The Global Automotive Artificial Intelligence Market And Its Annual Growth Rate?
The automotive artificial intelligence market is projected to continue its strong growth, reaching $13.52 billion in 2028 at a compound annual growth rate (CAGR) of 37.2%. The growth in the forecast period can be attributed to increasing popularity, awareness, rising demand for premium vehicles, rising demand for fully digitalized electric vehicles, integration of sensors and other components in ai systems, introduction of software support to vehicles that make them fully autonomous.
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Growth Driver Of The Automotive Artificial Intelligence Market
The growing demand for autonomous vehicles is expected to propel the growth of the automotive artificial intelligence market. Artificial intelligence has a wide range of applications in the automotive industry. As technology evolves, the automobile industry has taken advantage of discoveries to provide new ways to make driving more autonomous. Using artificial intelligence to develop self-driving automobiles is one of them. A self-driving car (also known as an autonomous car or driverless car) is a vehicle that travels to locations without the need for a human driver by utilizing a variety of sensors, radars, cameras, and artificial intelligence.
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Who Are The Leading Competitors In The Automotive Artificial Intelligence Market Share ?
Key players in the automotive artificial intelligence market include DiDi Chuxing Technology Co. Ltd., Otto Motors, Waymo LLC, Microsoft Corporation, Intel Corporation, NVIDIA Corporation, BMW AG.
What Are The Dominant Trends In Automotive Artificial Intelligence Market Growth?
Strategic collaborations between companies are a key trend gaining popularity in the automotive artificial intelligence market. Companies providing artificial automotive intelligence are undergoing partnerships and collaborations to develop new technologies and products.
How Is The Global Automotive Artificial Intelligence Market Segmented?
1) By Component: Hardware, Software, Service
2) By Type: Automatic Drive, ADAS
3) By Process: Signal Recognition, Image Recognition, Data Mining
4) By Technology: Deep Learning, Machine Learning, Context Awareness, Computer Vision, Natural Language Processing
5) By Application: Semi-Automatic, Human Machine Interface, Autonomous Driving
Geographical Insights: North America Leading The Automotive Artificial Intelligence Market
North America was the largest region in the automotive artificial intelligence market in 2023 is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Automotive Artificial Intelligence Market Definition
Artificial intelligence (AI) is a simulation of the human intelligence in machines that are programmed to think and behave like humans. AI helps to complete the job quickly and with relatively few errors.
Automotive Artificial Intelligence Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global automotive artificial intelligence market report covering trends, opportunities, strategies, and more
The Automotive Artificial Intelligence Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive artificial intelligence market size, automotive artificial intelligence market drivers and trends, automotive artificial intelligence market major players, automotive artificial intelligence competitors' revenues, automotive artificial intelligence market positioning, and automotive artificial intelligence market growth across geographies. The automotive artificial intelligence market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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