Artificial Intelligence (AI) in Automotive and Transportation Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The Artificial Intelligence (AI) in Automotive and 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. 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.
Markntel Advisor’s Artificial Intelligence (AI) in Automotive and Transportation Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Artificial Intelligence (AI) in Automotive and Transportation Market drivers, barriers, Artificial Intelligence (AI) in Automotive and Transportation Market Trends, and Key Players in Artificial Intelligence (AI) in Automotive and Transportation Market.
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Artificial Intelligence (AI) in Automotive and Transportation Market Dynamics: 2024-2030
Artificial Intelligence (AI) in Automotive and Transportation Market Driver:
Mounting Inclination Toward Autonomous Vehicles Worldwide to Upscale the Global Industry – With the advent of AI in automobiles, the demand for autonomous vehicles is rising substantially, owing to features like self-driving, autopilot, and automatic parking, among others, to reduce human efforts while driving. The increasing inclination of major automakers toward creating autonomous cars & driving features and the surging number of tech companies & start-ups are forming the idea of self-driving vehicles for public transportation, ride-sharing, and personal requirements.
Prominent automakers like Tesla are the ideal example of autonomous vehicles with systems like keeping the vehicle within a lane while driving, self-parking, auto changing lanes whenever required, etc. Hence, these aspects are projected to be the major drivers for Global Artificial Intelligence (AI) in the Automotive and Transportation Market during 2024-30.
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Artificial Intelligence (AI) in Automotive and Transportation Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
- 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
- Human-Machine Interface
- 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
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
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Top Companies Operating in the Artificial Intelligence (AI) in Automotive and Transportation Market:
- Continental AG
- Denso Corporation
- Nvidia Corporation
- Intel Corporation
- Harman International
- AI Motive
- Argo AI
- Siemens
- Thales Group
- CarVi
- Valeo
- Optalert
- Orbcomm Inc.
- Visteon Corporation
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