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2018
Automotive Artificial Intelligence Market

Automotive Artificial Intelligence Market by Component (Hardware, Software, and Service), Technology (Machine Learning & Deep Learning, Computer Vision, and Natural Language Processing), and Application (Semi-Autonomous and Autonomous): Global Opportunity Analysis and Industry Forecast, 2017 - 2025
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A04284
Pages: 292
May 2018 | 15975 Views
Author(s) : Chandani Poddar
Tables: 106
Charts: 68
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Automotive Artificial Intelligence Market Outlook - 2025

The global automotive artificial intelligence market is expected to reach at $8,887.6 million by 2025, from $445.8 million in 2017, growing at a CAGR of 45.0% from 2018 to 2025.

Artificial intelligence (AI) is one of the most progressive technologies in computer science. It is associated with human intelligence through similar characteristics such as language understanding, reasoning, learning, problem solving, and others. Manufacturers in the market witness enormous underlying intellectual challenges in the development and revision of the technology. In addition, the growth in automotive industry is expected to drive the automotive artificial intelligence market. Automotive industry has experienced the promise of artificial intelligence and is among the major industries using AI to augment and mimic the action of humans. Furthermore, emergence of standards such as advanced driver assistance system (ADAS), adaptive cruise control (ACC), blind spot alert, and growth in demand for convenience features attract automotive vendors towards AI.

The growth of the automotive artificial intelligence market is driven by rise in demand for autonomous vehicles and increase in preference for enhanced user experience and convenience features. However, the threat of hackers and rise in cybercrime is expected to restrain the market growth. On the contrary, rise in demand for the premium vehicle segment is anticipated to provide lucrative growth opportunities for the market.

NVIDIA Corporation, Waymo, Intel Corporation, IBM Corporation, Microsoft Corporation, Micron Technology, Otto Motors, BMW, Tesla Inc., and Toyota are some of the key players operating in the global automotive artificial intelligence market.

 

Segment overview

The report segments the automotive artificial intelligence market based on component, technology, application, and region. Based on component, the market is divided into hardware, software, and service. Further, hardware is classified into processor, memory, and networks. Furthermore, processor is bifurcated into microprocessor and graphics processing unit. By technology the market is segmented into machine learning & deep learning, computer vision, and natural language processing. By application, it is fragmented into semi-autonomous and autonomous. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

TOP IMPACTING FACTORS

Rise in demand for enhanced user experience and convenience features, rising trend of autonomous vehicles, rising security and privacy concern, and increasing demand for premium vehicle segment are the significant factors that impact the growth of the global automotive artificial intelligence market. These factors are anticipated to either drive or hamper the market growth.

Driver:

Growth in demand for autonomous vehicle

Autonomous vehicles are gaining popularity globally due to various features such as automatic parking, self-driving, autopilot, and others, which minimizes human effort during driving. In addition, such autonomous vehicles are backed up by some of the biggest technologically sound companies such as Nvidia, Intel, and Tesla among others and hence the probability of failure is minimal. For instance, Tesla’s autopilot system which has features such as keeping the vehicle within a lane while driving, auto changing the lanes whenever required, self-parking, and others, is one of the most advanced system available in automotive artificial intelligence market. Moreover, autonomous vehicles are anticipated to significantly bring down the requirement of human intervention and be of vital importance in the industries which are suffering from low man power for transportation purposes. This, in turn is expected to drive the growth of automotive AI market.

Restraint:

Rise in security and privacy concerns

Autonomous vehicles have made life of consumers safe and convenient. However, there are certain threats that are faced by the manufacturers related to security and privacy concerns such as safety of personal data, cyber-attacks, and driver distractions. For instance, around 1.4 million Fiat Chryslers were recalled in the US due to a glitch in their dashboard computers that permitted hackers to disable the vehicle. Similarly, white hat hackers were successful in implanting malware into the system of a Tesla car. These instances of intruding customer’s privacy are some of the major restraints in the market growth.

Key Benefits For Automotive Artificial Intelligence Market:

  • This report studies the global automotive artificial intelligence market with current trends and future estimations to portray the imminent investment pockets.
  • The overall automotive artificial intelligence (AI) market potential is determined to understand the profitable trends to gain a strong foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current automotive AI market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the market.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the automotive AI industry.

Key Market Segments & Key Market Players

Segments Sub-segments
BY COMPONENT
  • Hardware
    • Processor
    • Memory
    • Network
  • Software
  • Service
BY TECHNOLOGY
  • Machine Learning & Deep Learning
  • Computer Vision
  • Natural Language Processing
BY APPLICATION
  • Semi-Autonomous
  • Autonomous
BY REGION
  • North America
    • U.S
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • Russia
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
Key Market Players Nvidia Corporation, Alphabet Inc. (Waymo), Intel Corporation, International Business Machines Corporation (IBM), Microsoft Corporation, Micron Technology, Inc, BMW, Uber Technologies Inc. (OTTO Motors), Tesla, Inc, Toyota Motor Corporation
 

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AI involves the science and engineering of intelligent computer programs. It uses various computer functions such reasoning, learning, and problem-solving based on human intelligence. AI systems are used in various disciplines such as biology, computer science, mathematics, linguistics, psychology, and engineering to build an intelligent system. Applications that incorporate the AI systems in automotive are semi-autonomous and autonomous.

By component, hardware segment was the dominant segment in 2017, and is anticipated to continue this trend during the forecast period. In addition, by technology, machine learning & deep learning, was the dominant segment in 2017. By application, the autonomous segment is anticipated to witness the highest growth rate during the forecast period.

North America accounted for the majority market share of the automotive artificial intelligence market in 2017, owing to rise in demand for autonomous vehicles.

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