According to recent findings, the Artificial Intelligence in Automotive & Transportation Market is valued at USD 12.18 billion in 2023 and is estimated to grow at a CAGR of about 20.22% during the forecast period, i.e., 2024–30.
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Artificial Intelligence (AI) in Automotive and Transportation Overview:
It owes to the rapidly increasing adoption & utilization of advanced technologies like artificial intelligence (AI) in the automotive transportation sector to bring operational efficiency and safety to vehicles & drivers. The mounting promotion of automated & electric vehicles (EVs) integrated with Advanced Driver Assistance Systems (ADAS) by governments of different countries worldwide to ensure vehicle safety is also projected to drive the market during the forecast period.
Besides, technologies like deep learning are swiftly gaining momentum across the automotive sector to develop autonomous vehicles with capabilities to see, think, drive, and learn. Several prominent automakers are actively developing self-driven trucks equipped with these technologies for image processing, speech recognition, and data analysis, thereby contributing substantially to the overall industry growth. In addition, autonomous vehicles, with their potential to revolutionize transportation & improve road safety, continue to be a primary driver of AI adoption in the automotive sector. Major companies, including tech giants & traditional automakers, are heavily investing in AI-driven self-driving technology. This innovation is pushing the boundaries of what’s possible, with varying levels of automation from driver assistance to market growth globally.
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Artificial Intelligence (AI) in Automotive and Transportation Outlook and Future Trends :
AI-powered Innovations Transforming the Automotive Landscape – In the ever-evolving Automotive & Transport Market AI-powered systems have taken center stage, revolutionizing the driving experience. These advanced systems are seamlessly integrated into vehicles, enabling a new era of connectivity and convenience. From sophisticated infotainment systems that provide passengers with a wealth of entertainment and information options to advanced navigation tools that offer real-time traffic updates & optimized routes, AI is reshaping the way of interaction with vehicles.
Moreover, predictive maintenance capabilities driven by AI ensure that vehicles run smoothly by proactively identifying & addressing maintenance needs, reducing downtime & operational costs. Additionally, AI facilitates vehicle-to-vehicle communication, enhancing safety & efficiency on the road by enabling cars to exchange critical information. As AI continues to permeate the automotive industry, it’s not only improving our driving experience but paving the way for a smarter, safer, and more connected future in transportation.
Global Artificial Intelligence (AI) in Automotive and Transportation Segmentation Analysis:
By Application
- Human-Machine Interface
- Central Display
- Instrument Cluster
- Steering Mounted Control
- Head-up Display
- Driver Monitoring
- Physiological Measurement
- Facial Movement and Eye Detection
- Driver/ Identity Authentication
- Finger
- Facial and Iris
- Voice
- Autonomous Driving Processing Chips
- Intelligent Traffic Management System
According to reports,Human Machine Interface (HMI) is anticipated to contribute substantially to the market growth during the forecast period.
By Vehicle Type
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Trucks
- Heavy Buses
By Component
- Hardware
- Software
By Level of Autonomy
- Level 1
- Level 2
- Level 3
- Level 4
- Level 5
By Technology
- Machine Learning
- Natural Language Processing
- Context-Aware Computing
- Computer Vision
- Deep Learning
According to reports,Machine Learning is anticipated to dominate the Artificial Intelligence in Automotive & Transportation Market with the largest share during the forecast period.
By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific.
According to reports, North America dominated the Artificial Intelligence (AI) in the Automotive & Transportation Market with the largest share in recent years and is projected to prevail in the same trend during the forecast period.
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Some of the Market players in the Global Artificial Intelligence (AI) in Automotive and Transportation are:
- Continental AG
- Denso Corporation
- Nvidia Corporation
- Intel Corporation
- Harman International
- AI Motive
- Argo AI
- Siemens
- Thales Group
- CarVi
- Valeo
- Optalert
- Orbcomm Inc.
- Visteon Corporation.
Artificial Intelligence (AI) in Automotive and Transportation Recent Development:
- 2023: Continental AG collaborated with Ambarella Partner for perception solutions and full-stack systems for advanced driver assistance and highly automated driving.
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