(I-BusinessNews.Com, January 15, 2020 ) Meticulous ResearchÂ® Â leading global market research company researching on market titled ÂAutomotive Artificial Intelligence Market by Offering (Hardware, Software), Technology (Machine Learning, Deep Learning, Computer Vision, Context Awareness, Natural Language Processing), Process (Image Recognition, Signal Recognition, Voice Recognition, Data Mining), Drive (Autonomous Drive, Semi-autonomous Drive), and Region Â Global Forecast to 2025ÂÂ.
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Autonomous vehicle is a quite novice concept in automobiles which is still in its nascent stage of development. Autonomous vehicles are capable of reading and sensing the environment and operates without human input. These vehicles are packed with several features such as less driver stress and tedium, automatic parking, autopilot mode, and others. Furthermore, it provides independent mobility for non-drivers, including people with disabilities, adolescents, and others who for any reason are not capable of driving. Nowadays, several major automotive manufacturers are contributing towards the development of semi-autonomous and fully autonomous vehicles and AI plays vital part in this. At present, TeslaÂs autopilot is the only partial-autonomous system on the market. TeslaÂs autopilot system equipped with advanced AI has features such as keeping the vehicle within a lane while driving, auto changing the lanes whenever required, self-parking, and others. Meanwhile, other automotive giants including BMW, Volvo, Nissan, Mercedes, Audi, GM, Ford, and Toyota are introducing several autonomous features powered by AI such as departure warning and auto-parking. Thereby, growing demand for autonomous vehicle is expected to propel the growth of the automotive artificial intelligence market significantly in the next few years.
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The global automotive artificial intelligence market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2025 Â by offering, technology, process, and drive. The study also evaluates industry competitors and analyzes the market at regional and country level.
Key Findings in the Global Automotive Artificial Intelligence Market Study:
Deep Learning Dominates the Global Automotive Artificial Intelligence Market, by Technology
Based on Technology, the global automotive artificial intelligence market is segmented into machine learning, deep learning, computer vision, context awareness, and natural language processing. Deep learning dominated the global automotive artificial intelligence market in 2018, mainly due to increasing investment by many companies in the development of self-driving cars in which the deep learning technology is used for image processing, data analysis, motion detection, and voice search. It also registers the highest CAGR during the forecast period.
Data Mining Segment to Register Highest Growth, by Process
Based on Process, the global automotive artificial intelligence market is segmented into signal recognition, image recognition, and data mining. The data mining segment is expected to register the highest CAGR during the forecast period. This is mainly attributed to the large volumes of data generated and processed in a vehicle.
Asia-Pacific: The Fastest Growing Regional Market
North America commanded the largest share of the global automotive artificial intelligence market in 2018, followed by Europe, Asia-Pacific, Middle East & Africa, and Latin America. This is due to the early adoption of artificial intelligence technology and presence of major automotive manufacturers. However, the Asia-Pacific is the fastest growing regional market due to the growing population and economies, rising living standards, rapid improvement in data storage capacity, high computing power, increasing investment by technology leader, and government initiatives to promote manufacturing activities in developing countries such as India, South Korea, and China.
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Key Players Operating in the Automotive Artificial Intelligence Market
The report includes an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2016-2019). For instance, in October 2018, Volkswagen Group and Microsoft Corporation announced a partnership, designed to transform the auto company into a digital service-driven business. By tapping the power of Azure IoT, PowerBI, and Skype, Volkswagen plans to offer customer experience, telematics, and productivity solutions for the automotive market.
The major players operating in the global automotive artificial intelligence market are Alphabet Inc. (U.S.), Audi AG (Germany), Bayerische Motoren Werke AG (Germany), Daimler AG (Germany), Didi Chuxing Technology Co., Ltd. (China), Ford Motor Company (U.S.), General Motors Company (U.S.), Harman International Industries Inc. (South Korea), Honda Motor Co. Ltd.(Japan), Hyundai Motor Corporation (South Korea), IBM Corporation (U.S.), Intel Corporation (U.S.), Micron Technology, Inc. (U.S.), Microsoft Corporation (U.S.), NVIDIA Corporation (U.S.), Otto Motors (U.S.), Qualcomm Inc. (U.S.), Tesla Inc. (U.S.), Toyota Motor Corporation (Japan), Uber Technologies Inc. (U.S.), Volvo Car Corporation (Sweden), Volkswagen Group (German), Waymo LLC (U.S.), and Xilinx Inc.(U.S.).
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