New Market Study, Report "Artificial Intelligence (AI) in Automotive Market 2019 Global Industry Growth Drivers, Challenges, Strategies and Forecasts 2025".
PUNE, MAHARASHTRA, INDIA, December 3, 2019 /EINPresswire.com/ — Artificial Intelligence (AI) in Automotive Market 2019-2025
New Market Study, Report "Artificial Intelligence (AI) in Automotive Market 2019 Global Industry Demand, Opportunities, Growth Drivers, Challenges, Strategies and Forecasts 2025" Has been Added on WiseGuyReports.com.
Global Artificial Intelligence (AI) in Automotive Market to grow at a CAGR of 38.46% by 2025
This report provides in depth study of “Artificial Intelligence (AI) in Automotive Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Artificial Intelligence (AI) in Automotive Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
Global artificial intelligence (AI) in automotive market was worth US$565.2 million in 2016. With the emergence of self-driving and connected vehicles, this market is expected to register significant CAGR from 2019 to 2025. It is expected to reach an attractive US$10,573.3 million by 2025. The market will grow at a CAGR of about 38.46%. Experts reckon that the growth in the automotive AI market is due to the widespread adoption of IoT, with vehicle manufacturers ensuring that connected vehicles provide better safety and convenience with the help of self-parking, auto-pilot, and navigation.
AI in the automotive market is growing as the demand for autonomous vehicles is on the rise. In 2015, the percentage of connected cars was 13% and it is expected to increase 75% by 2020. Out of all the vehicles on the road, the percentage of connected cars is anticipated to be 22% by 2020, and the number of cars with self-drive is expected to climb to 10 million by 2020. Artificial intelligence (AI) in automotive helps to reduce human intervention while assessing risks in real-time. It also accelerates the claim filing process in case of an accident.
The biggest challenges in the artificial intelligence (AI) in automotive market are privacy and security. Personal data safety and cyberattacks are impeding the growth of this market, especially when reports come out each year of technical glitches that allow hackers to disable vehicles or deploy malware. Also, artificial intelligence applications are quite complex and also expensive. These factors too are hindering the growth of this market. To overcome growth challenges, some auto manufacturers are integrating blockchain technology, which can withstand internal and external attacks. Manufacturers are collaborating with entertainment giants to drive the growth in the market, as this will assist OEMs to utilize a common data pool so that they can provide user-specific services and products.
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Important Key Players Analysis: Alphabet (Google), IBM, Intel, Samsung, Microsoft, Amazon Web Services, Qualcomm, Micron, Tesla, Toyota Motor Corporation, Uber Technologies, Volvo Corporation, Xilinx, SoundHound, Audi, BMW, Daimler, Didi Chuxing, Ford Motor Company, General Motors Company, Harman Industrial Industries, Honda Motor, Hyundai Motor Corporation and more.
Global artificial intelligence (AI) in automotive market is segmented by type and application.
By type, the market is further divided into computer vision, context awareness, deep learning, machine learning and natural language process (NLP). Deep learning is expected to be the fastest-growing sub-segment as this technology enables speech recognition, data analysis and image processing in self-driving cars.
By application, the automotive AI market is divided into the human-machine interface (HMI), semi-autonomous vehicles and autonomous vehicles.
By the region, the automotive artificial intelligence market is split into North America, Europe, China, Japan, Southeast Asia, India, and Central and South America. Presently, North America has the largest market share and this trend will continue as the federal government is providing funding to accelerate the introduction and adoption of autonomous vehicles. Several top US automakers have upgraded their vehicles with advanced features, like auto-pilot, voice recognition system, self-parking and gesture recognition system.
As the living standards in fast-growing economies of Asia-Pacific improve, artificial intelligence in the automotive market is expected to significantly grow during the forecast period. However, the markets of India and China are cost-driven and hence, the high cost of AI applications may hinder the growth in these markets.
Research reveals that large OEMs can increase operating profits by up to 16% by using artificial intelligence across their supply chains and production facilities. Most key players are investing in research and development initiatives to broaden their portfolio and develop innovative applications to improve passenger safety and convenience. Many key players are opting for strategic partnerships, and mergers and acquisitions with tech companies to enjoy a competitive edge so that they can become market leaders in artificial intelligence (AI) in automotive market.
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Major Key Points from Table of Content:
1 Report Overview
2 Global Growth Trends
3 Market Share by Key Players
4 Breakdown Data by Type and Application
12 International Players Profiles
12.1 Alphabet (Google)
12.1.1 Alphabet (Google) Company Details
12.1.2 Company Description and Business Overview
12.1.3 Artificial Intelligence (AI) in Automotive Introduction
12.1.4 Alphabet (Google) Revenue in Artificial Intelligence (AI) in Automotive Business (2014-2019))
12.1.5 Alphabet (Google) Recent Development
12.2.1 IBM Company Details
12.2.2 Company Description and Business Overview
12.2.3 Artificial Intelligence (AI) in Automotive Introduction
12.2.4 IBM Revenue in Artificial Intelligence (AI) in Automotive Business (2014-2019)
12.2.5 IBM Recent Development
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Source: EIN Presswire