Automotive Artificial Intelligence Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Automotive Artificial Intelligence Market Analysis:

1. The Automotive Artificial Intelligence Market is projected to experience substantial growth in the coming years, with an estimated value of USD 16.2 Billion by 2026. This surge can be attributed to the rising global demand for autonomous driving. As we move towards the future, it is predicted that autonomous vehicles will make up a significant portion of total vehicle sales, ranging from 12% to 17% by 2030. To comply with strict safety regulations, Original Equipment Manufacturers (OEMs) worldwide are making significant investments in Advanced Driver Assistance Systems (ADAS), computer vision, and connected car systems.

2. The increasing disposable income of consumers in emerging economies like China and India is also contributing to the growth of the automotive artificial intelligence market. These consumers are increasingly opting for luxury vehicles equipped with advanced driver assistance and autonomous systems, such as automatic parking and emergency braking. This trend is driven by the desire for enhanced safety and convenience features in their vehicles.

3. Artificial Intelligence (AI) is revolutionizing the automotive industry by enabling new trends like ridesharing and electrification. AI plays a crucial role in fleet management, pricing optimization, and demand-supply matching in shared mobility services. This has attracted the attention of major technology companies, including Intel Corporation and Nvidia, who are now venturing into the mobility space. The Asia Pacific region, particularly China, is leading the market for automotive artificial intelligence. The deployment of AI by OEMs in China has witnessed significant growth, thanks to the availability of open-source platforms like Baidu’s Apollo, which has garnered partnerships with over 130 companies.

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