TL;DR:
- The Automotive Artificial Intelligence market is segmented by type, application, and level of autonomy.
- The market was valued at USD 2916 Million in 2022 and is expected to reach USD 3607.5 Million by 2029.
- Increasing demand for autonomous vehicles, the use of AI in traffic management, cutting-edge automotive technologies, and government initiatives are major factors driving the market’s growth.
- Government programs for car and road safety, automotive technology, telematics, and artificial intelligence are reducing traffic accidents and improving road safety.
- AI software in cars can automatically adjust temperature, mirrors, and pulse rate, detect sleepiness, and deploy airbags according to upper body position during accidents.
- AI-powered navigation systems suggest better routes based on various road conditions, and digital twins help to experiment with design decisions and predict vehicle performance.
- AI and computer vision-based systems analyze car damage following collisions, and personalized voice-recognition software assists drivers with calls, radio stations, petrol levels, and temperature adjustments.
Main AI News:
The Automotive Artificial Intelligence market has been undergoing a steady growth trajectory and is projected to continue doing so in the coming years. According to Valuates Reports, the market was valued at USD 2916 Million in 2022 and is expected to reach USD 3607.5 Million by 2029, growing at a CAGR of 3.6% during the forecast period of 2023-2029. The market is segmented by type, application, and level of autonomy, providing a comprehensive overview of the industry landscape.
One of the major factors driving the growth of the Automotive Artificial Intelligence market is the increasing demand for autonomous vehicles. With AI-based technologies, businesses can monitor operations, improve digital outcomes, and create self-driving cars. Additionally, the use of AI in traffic management, cutting-edge automotive technologies, and government initiatives further contribute to the growth of the market.
The government’s focus on road safety is a significant trend influencing the growth of the Automotive Artificial Intelligence market. With increasing programs for car and road safety, automotive technology, telematics, and artificial intelligence, the frequency of traffic accidents can be reduced, and road safety can be increased. Real-time weather information and notifications can be accessed through mobile networks and quick data transmission methods, aiding in government efforts to reduce accidents and improve road safety.
AI software in cars can also enhance the driving experience by automatically adjusting temperature, mirrors, and pulse rate when frequent users sit in the driver’s seat. Furthermore, the software can detect sleepiness by analyzing eye openness and head position and deploy airbags according to upper body position during an accident. Gesture recognition technology has also become an essential tool for infotainment control while driving, further driving the growth of the Automotive Artificial Intelligence market.
The analysis of various road conditions is another way AI can assist drivers in making better navigation judgments. AI-powered navigation systems suggest better routes based on data about nearby road closures, collisions, traffic jams, construction sites, and road conditions. Moreover, AI-driven digital twins are being employed in production plants, allowing engineers and designers to experiment with various design decisions and predict the vehicle’s performance.
Lastly, the Automotive Artificial Intelligence market is expected to grow as industry participants use AI and computer vision-based systems to analyze car damage following collisions. In addition, personalized voice-recognition software can assist drivers with calls, radio stations, petrol levels, and temperature adjustments while remembering their preferences and behavior. With these cutting-edge advancements, the Automotive Artificial Intelligence market is poised for continued growth and innovation in the years ahead.
Conlcusion:
The Automotive Artificial Intelligence market is poised for significant growth in the coming years, driven by the increasing demand for autonomous vehicles, the use of AI in traffic management, cutting-edge automotive technologies, and government initiatives.
The government’s focus on road safety and the use of AI in car and road safety programs will further boost market growth. With AI-powered software in cars improving the driving experience, AI-driven navigation systems enhancing navigation judgments, and personalized voice-recognition software assisting drivers, the Automotive Artificial Intelligence market is set to expand and innovate in the future.
