DUBLIN, June 16, 2023 /PRNewswire/ -- The "Automotive Artificial Intelligence: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Automotive Artificial Intelligence Market to Reach $14.8 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Automotive Artificial Intelligence estimated at US$3.2 Billion in the year 2022, is projected to reach a revised size of US$14.8 Billion by 2030, growing at a CAGR of 20.9% over the analysis period 2022-2030.
Software, one of the segments analyzed in the report, is projected to record 22.5% CAGR and reach US$9.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Hardware segment is readjusted to a revised 18.4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.2 Billion, While China is Forecast to Grow at 23.1% CAGR
The Automotive Artificial Intelligence market in the U.S. is estimated at US$1.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2030 trailing a CAGR of 23.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.3% and 18.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 20.3% CAGR.
Looking Ahead to 2023
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.
Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
MARKET OVERVIEW
- The Age of AI Has Arrived & Here's How it Promises to Revolutionize Automobiles
- Evolution & Growth of AI as Measured by the Robust Spending on AI Enablement, Primes the Technology for Use in Automobiles: Global Market for Artificial Intelligence (AI) (In US$ Billion) for Years 2021, 2023, 2025 & 2027
- How & Where is AI Used in the Automobile Industry?: % Breakdown of Automotive AI Spending by Application Area as of the Year 2022
- Global Economic Update
- Competition
- Automotive Artificial Intelligence - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Automotive Artificial Intelligence: Global Market Prospects & Outlook
- World Brands
- Recent Market Activity
- Innovations
MARKET TRENDS & DRIVERS
- Growing Demand for Connected & Safe In-Car Infotainment Systems to Expand Use of AI Technology in Vehicles
- AI Integration into In-Vehicle Infotainment Systems Gathers Momentum, Supported by Strong Demand for Intuitive, Smarter & Safer Systems: Global Automotive Infotainment Market Opportunity (in US$ Billion) by Geographic Region for the Years 2021, 2023, 2025 and 2027
- Swift Progress Towards Autonomous Vehicle Commercialization to Drive the Importance of AI Technology
- Exhibit Global Autonomous Vehicle Sales (In Million) for Years 2020, 2025 & 2030
- Against the Backdrop of Rising Automobile Thefts, AI Makes It Presence Felt in the Vehicle Access Control Space
- As the Number of Cars Stolen Each Year Increases, AI Emerges Into the Spotlight for its Ability to Make Vehicle Access Control Systems More Fool Proof: Vehicle Thefts (In 000 Vehicles) in the United States for the Years 2019 through 2022
- Motor Vehicle Theft in the United States by Area Type as of the Year 2022
- Growing Popularity of In-Car Payments Bodes Well for the Adoption of AI in Automobiles
- The Need for Intuitive & Safer Vehicle HMI Solutions Drives the Use of AI
- Robust Innovations in the Automotive HMI Market Bodes Well for Adoption of AI Technology in HMI R&D, Design and Development: Global Market for Automotive HMI (In US$ Billion) for Years 2022, 2024, 2026, 2028 and 2030
- Focus on Driver Behavior Intelligence Expands the Role of AI in Driver Monitoring
- Here's How AI Enables Secure Vehicular Communication in the Era of Internet of Cars
FOCUS ON SELECT PLAYERS (Total 133 Featured)
- Argo AI, LLC
- Ather Energy
- Audi AG
- Automotive Artificial Intelligence (AAI) GmbH
- BMW AG
- Mercedes-Benz Group AG
- Ford Motor Company
- General Motors Company
- German Autolabs
- Harman International Industries Inc.
- Honda Motor Co. Ltd.
- Hyundai Motor Corporation
- IBM Corporation
- iGloble Software Solutions Pvt. Ltd.
- Intel Corporation
- Micron Technology, Inc.
- Microsoft Corporation
- Mitsubishi Electric Corporation
- Motional, Inc.
- Nauto
- Nvidia Corporation
- Qualcomm Inc.
- Refraction AI
- SapientX, Inc.
- Soniclue
- Tesla Inc.
- Tractable (UK)
- Uber Technologies Inc.
- Volvo Car Corporation
- Xilinx Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qlu8eg
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