Anticipated Surge in Demand: Artificial Intelligence (AI) in Automotive and Transportation Market Trends, Analysis, Size

MarkNtel Advisors has released a research report on the Artificial Intelligence (AI) in Automotive and Transportation Market Size, Share, Analysis, Research, Report 2030. The research segment utilizes efficient methodologies to convey sales and revenue forecasts for the specified years, enhancing user understanding and supporting well-informed decision-making. Through a combination of qualitative and quantitative data, this report comprehensively addresses significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges. To familiarize both existing businesses and new entrants with the present market scenario, the report delivers detailed growth prospects for the industry and concise insights into competitors.

Artificial Intelligence (AI) in Automotive and Transportation Market Insights:

The Global Artificial Intelligence in Automotive & Transportation Market is valued at USD 12.18 billion in 2023 and is estimated to grow at a CAGR of about 20.22% during the forecast period, i.e., 2024–30.

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Global Artificial Intelligence in Automotive & Transportation Market Driver

Mounting Inclination Toward Autonomous Vehicles Worldwide to Upscale the Global Industry – With the advent of AI in automobiles, the demand for autonomous vehicles is rising substantially, owing to features like self-driving, autopilot, and automatic parking, among others, to reduce human efforts while driving. The increasing inclination of major automakers toward creating autonomous cars & driving features and the surging number of tech companies & start-ups are forming the idea of self-driving vehicles for public transportation, ride-sharing, and personal requirements.

Prominent automakers like Tesla are the ideal example of autonomous vehicles with systems like keeping the vehicle within a lane while driving, self-parking, auto changing lanes whenever required, etc. Hence, these aspects are projected to be the major drivers for Global Artificial Intelligence (AI) in the Automotive and Transportation Market during 2024-30.

Global Artificial Intelligence in Automotive & Transportation Market Challenge

Security & Privacy Concern Hampers the Market Growth – While manufacturers are integrating AI technologies in the automotive, threats & concerns like data breaches, security & privacy concerns, cyber-attacks, & driver distractions, among others, are a few aspects that might restrain the Artificial Intelligence in Automotive & Transportation Market growth during the forecast period. It includes threats like glitches in the dashboard computers that allow hackers to disable vehicles or implant malware in the car system. Hence, these cases & possibilities are intruding the customers to adopt AI-enabled vehicles.

Leading Companies Operating in the Artificial Intelligence (AI) in Automotive and Transportation Industry:

-Continental AG

-Denso Corporation

-Nvidia Corporation

-Intel Corporation

-Harman International

-AI Motive

-Argo AI

-Siemens

-Thales Group

-CarVi

-Valeo

-Optalert

-Orbcomm Inc.

-Visteon Corporation

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Artificial Intelligence (AI) in Automotive and Transportation Market Categorization:

The Artificial Intelligence (AI) in Automotive and Transportation Market exhibits a high degree of fragmentation, categorizing into distinct segments as follows:

By Application

-Human-Machine Interface

--Central Display

--Instrument Cluster

--Steering Mounted Control

--Head-up Display

-Driver Monitoring

--Physiological Measurement

--Facial Movement and Eye Detection

-Driver/ Identity Authentication

--Finger

--Facial and Iris

--Voice

-Autonomous Driving Processing Chips

-Intelligent Traffic Management System

By Vehicle Type

-Passenger Vehicles

-Light Commercial Vehicles

-Heavy Trucks

-Heavy Buses

-By Component

-Hardware

-Software

By Level of Autonomy

-Level 1

-Level 2

-Level 3

-Level 4

-Level 5

By Technology

-Machine Learning

-Natural Language Processing

-Context-Aware Computing

-Computer Vision

-Deep Learning

By Region

-North America

-South America

-Europe

-Middle East & Africa

-Asia-Pacific

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