How Artificial Intelligence Is Impacting the Automotive Industry
Exploring the increasing impact of AI as it is adopted right across the car industry
The
automotive industry is one of the essentials of human lives and most of us can
barely imagine a day without riding your own vehicle or hopping on some kind of
public transport. But, as the technology evolves, so does the automotive with
its trends and discoveries. The recent boost in AI development proved that
artificial intelligence will soon transform every device we’re using. With cars
being at the top of this list, we decided to explore the ways of applying AI to
the modern automotive industry.
The key players influencing the market are Argo AI, Automotive
Artificial Intelligence, BrainChip Holdings, IBM Corporation, Intel
Corporation, Nuance Communications, NVIDIA Corporation, Otto Motors, Tesla,
Waymo LLC.
Automotive
artificial intelligence is used for improving the efficiency and functionality
of vehicles with the integration of advanced technologies. The growing
popularity of autonomous vehicles is one of the primary factors driving the
growth of the automotive artificial intelligence market. The increasing demand
for premium segment vehicles is creating lucrative business opportunities for
the players operating in the market to gain a strong customer base and generate
more revenues.
Growing adoption of ADAS,
government regulations regarding vehicle safety, and rising trends for
self-driving vehicles are the major factors that would drive the growth of the
automotive artificial intelligence market. However, increasing vehicle costs
and data privacy concerns are acting as a major restraining factor in the
market. The major challenge faced by automotive manufactures is maintaining the
balance between cost and quality.
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The report provides a detailed overview of the
industry including both qualitative and quantitative information. It provides
overview and forecast of the global automotive artificial intelligence market
based on various segments. It also provides market size and forecast estimates
from year 2017 to 2027 with respect to five major regions, namely; North
America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South
America. The automotive artificial intelligence market by each region is later
sub-segmented by respective countries and segments. The report covers analysis
and forecast of 18 countries globally along with current trend and
opportunities prevailing in the region.
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