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Automotive Artificial Intelligence Market Size, Industry Trends, Share and Forecast 2019-2025
Global Automotive Artificial Intelligence (AI) Market is growing at a significant CAGR attributed to its application in the development of functions such as self-driving cars, connected cars, AI driver assistance, facial recognition, and eye-tracking. AI is an area which applies both advanced and practical approach in vehicles to give human-like characteristics. The automotive industry is the most high-tech industries globally. AI technology is used for autonomous driving, connectivity, electrification, and shared mobility. Machine learning technology makes a decision based on what it has learned and supports in the movement of the vehicle. Furthermore, deep learning is the process of achieving machine learning; it includes an artificial neural network that learns and makes a decision.
Deep learning enables advanced driving assistance system and assists in improving the quality and characteristics of autonomous vehicles. Automotive AI industry is driven by various advantages such as increased safety, predictive driving, and it is also suitable for specially abled people. Advancement in AI has a massive contribution to the growth of the automotive industry through the creation and evolution of self-driving vehicles like trucks, taxis, buses, cars, and bikes. Once driverless technology is fully developed, traffic collisions and accidents caused by human error, aggressive driving, and other inconveniences will be substantially reduced.
Increasing problems such as environmental pollution, road safety, severe traffic congestion, and rising fatal traffic accident caused by human error are paving the growth in global automotive AI market. The market growth is determined by the increasing demand for electric vehicles and autonomous vehicles. The key players involved in global automotive AI market include IBM Corp., NVIDIA Corp., Intel Corp., Harman International Industries, Inc. Nuro, Inc., ARM Ltd., and many more.
Current Market Trends Covered in the Market Report:
Growth in the demand for AI-enabled autonomous vehicle
Expansion of the automotive industry
Funding creates opportunities for automotive AI market
Rising preference for electric vehicles
The Report Global Automotive AI Market Segmentation
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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