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Global Automotive Artificial Intelligence Market Report to 2030 - Players Include Alphabet, General Motors, Intel, Microsoft and TeslaDUBLIN, Feb. 1, 2023 /PRNewswire/ -- The "Automotive Artificial Intelligence Market by Component, Technology, and Application: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
At an estimated value of over 2.57 billion USD in 2021, the global Automotive Artificial Intelligence (AI) Market is predicted to thrive at a CAGR of 29.2% and valued at over USD 34.30 billion over the forecast year 2022-2030. Fully autonomous as well as semi-autonomous vehicles use artificial intelligence to perform complex tasks such as face recognition, threat detection, image processing, vehicle localization and mapping etc., among others. Machine learning technology enables the vehicle in apprehending data, imitate the human mind and problem solving. Artificial Intelligence, along with other technologies such as Advance Driver Assistance System (ADAS), Adaptive Cruise Control (ACC) and Electronic Braking Distribution (EBD) make driving experience better and ensure advanced safety for both driver and passenger. The gaining popularity of autonomous vehicle globally, due to its safety and comfort features, along with a shift towards alternative fuel has propelled the growth of automotive artificial intelligence market. Also, artificial intelligence reduces the need of a driver in an autonomous vehicle, which eliminates driver wages and drastically minimizes the operational cost. These advantages, along with investments made by major market players are expected to further accelerate the automotive artificial intelligence market. Additionally, the increase in demand for premium vehicls with advanced systems and software is anticipated to create opportunities for the market players in the near future. However, an increase in cyber-crime activities as well as increase in consumer privacy concerns are expected to restrain the market growth Key Benefits
Market Segmentation By Technology
By Component
By Application
By Geography
Market Dynamics Drivers
Restraints
Opportunities
A selection of companies mentioned in this report includes
For more information about this report visit https://www.researchandmarkets.com/r/wggg0k Media Contact: Laura Wood | +353-1-481-1716 | [email protected] Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg View original content:https://www.prnewswire.com/news-releases/global-automotive-artificial-intelligence-market-report-to-2030---players-include-alphabet-general-motors-intel-microsoft-and-tesla-301736573.html SOURCE Research and Markets |