The document discusses the global automotive artificial intelligence market. It states that the market was valued at $445.8 million in 2017 and is projected to reach $5,827.6 billion by 2024, growing at a CAGR of 43.8% from 2018 to 2024. Artificial intelligence is increasingly being adopted by the automotive industry to mimic human actions. The growth of the market is driven by the rising demand for autonomous vehicles and preference for enhanced user experience and convenience features. However, threats of hackers and cybercrime may restrain the market growth.

1. Automotive Artificial
Intelligence Market
Global Opportunity Analysis and Industry
Forecast, 2017-2024
Pages : 292
Publish Date: May 2018

2. Automotive Artificial
Intelligence Market
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.

3. Automotive Artificial Intelligence
Market Key Players
NVIDIA
Corporation
Intel
Corporation
IBM
Corporation
Microsoft
Corporation
Micron
Technology

4. Automotive Artificial Intelligence Market
• According to a recent report published by Allied Market Research, titled, Automotive
Artificial Intelligence Market by Component, Technology, and Application: Global
Opportunity Analysis and Industry Forecast, 2017-2024, the global automotive artificial
intelligence market was valued at $445.8 million in 2017, and is projected to reach at
$5,827.6 million by 2024, growing at a CAGR of 43.8% from 2018 to 2024.
• Artificial intelligence has been increasingly adopted by the automotive industry, which is
among the major industries using AI to mimic the action of humans. Applications that
incorporate AI systems in automotive are semiautonomous and autonomous vehicles. In
autonomous vehicles, AI collects, processes, and chooses the specific action based on the
information gathered.
• 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 &
convenience features. However, the threat of hackers and rise in cybercrime are 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.
Automotive Artificial Intelligence
Market Overview

5. • This report studies the global automotive artificial intelligence market with current
trends and future estimations to portray the imminent investment pockets.
• The overall 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 market is quantitatively analyzed from 2017 to 2024 to highlight the
financial competency of the market.
• Porters five forces analysis illustrates the potency of the buyers and suppliers in the
industry.
Automotive Artificial Intelligence
Market Key Benefits

6. • Based on component, the hardware segment is anticipated to dominate the global
automotive artificial intelligence market in terms of revenue. However, based on
application, semiautonomous dominated the market in 2017.
• In 2017, the machine learning & deep learning based on the technology segment
accounted for the highest revenue.
• North America held the majority of market share in 2017.
• LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
Automotive Artificial Intelligence
Market Key Findings

7. Automotive Artificial
Intelligence Market Key
Segments:

8. Top Impacting Factors
Rising Demand
for Enhanced
User
Experience
Growing
Demand of
Autonomous
Vehicle
Increasing
Demand for
Premium
Vehicle
Segment
Rising Security
and Privacy
Concern

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