Artificial intelligence is development of advanced machines and computers that are able to perform regular tasks that require human intelligence.
Major factors driving growth of the global automotive artificial intelligence market are increasing demand for autonomous vehicles and increasing adoption of ADAS technology for vehicles. A major factor hampering growth of the global automotive artificial intelligence market is high cost of the technology, owing to which the overall vehicle cost also increases.
The global market report is segmented on the basis of component, technology, application, and region. On the basis of components, the global market is segmented into hardware, software, and services. The software segment is projected to register highest CAGR over the forecast period. The service segment is also expected to witness significant growth over the forecast period.
On the basis of technology, the global market is segmented into deep learning, machine learning, context awareness, computer vision, and natural language processing. The deep learning segment is expected to witness highest revenue growth during the forecast period.
On the basis of application, the global market is segmented into human–machine interface, semi-autonomous driving, and autonomous driving. The human-machine interface segment is expected to witness highest growth in terms of revenue during the forecast period.
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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America automotive artificial intelligence market accounts for highest revenue share in the global market. The market in Asia Pacific is expected to witness highest growth in terms of revenue in the global market during the forecast period.
Key players in the global market are NVIDIA Corporation, Alphabet Inc., Intel Corporation, Microsoft Corporation, International Business Machines (IBM) Corporation, Harman International Industries, Inc., Xilinx Inc., Qualcomm Inc., Tesla, Inc., Bayerische Motoren Werke AG, and other prominent players.