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Artificial Intelligence in Automotive Market

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Increasing demand for autonomous vehicles is expected to support growth of the artificial intelligence in automotive market. Increasing number of road accidents and fatal injuries, due to human errors has led to increasing demand for autonomous vehi
Analysis of Artificial Intelligence in
Automotive Market Size and Share Global Industry Insights, Trends,
2017-2025
Increasing demand for autonomous vehicles is expected to support growth of the
artificial intelligence in automotive market. Increasing number of road accidents and
fatal injuries, due to human errors has led to increasing demand for autonomous
vehicles. For instance, according to the World Health Organisation (WHO), 2015,
fatalities of 1.25 million people were reported and 50 million people were injured, due to
road accidents globally. Therefore, using autonomous vehicles could reduce accidents
due to human errors. Key automakers are focusing on developing autonomous vehicles,
which is expected to aid in growth of the market. For instance, Volkswagen is expected
to launch self driving cars by 2019 and BMW is expected to launch autonomous iNext
by 2021. Moreover, fleet operators are also focusing on deploying self-driving cars, in
order to enhance their market share. For instance, 2016, NuTonomy—a U.S.-based
company, announced its plans to deploy self-driving taxi services in Singapore by 2018,
and plans to be operational with fleets of self-driving taxies in 10 cities of the world by
2020.
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Artificial intelligence in automotive market- Regional Insights
The global artificial intelligence market is segmented on the basis of regions into North
America, Europe, Asia Pacific, Latin America, and Middle East, and Africa. North
America is expected to account for the largest market share in the artificial intelligence
in automotive market over the forecast period. This is due to existence of government
initiatives regarding the enhancement of the automotive vehicles. For instance, in 2016,
the US government has invested US$ 4 billion for autonomous vehicles. Also, high
presence of market leaders such as Qualcomm Inc., Ford Motor Company, and General
Motors Company is another factor for growth of this market. U.S. and Canada are the
growth engines in North America.
Deep learning segment is expected to hold the largest share in the market over
the forecast period
Deep learning segment held the largest share in 2016 and is projected to retain its
dominance throughout the forecast period. Increasing use of deep learning by
automotive manufacturers such as Audi, Delphi, Ford, and Volkswagen for various
applications such as data analysis, speech recognition, image processing has led to
growth of this segment.
Artificial intelligence in automotive market- Competitive Background
Major players of global artificial intelligence in automotive market are Qualcomm Inc.
(U.S.), Tesla Inc., Volvo Car Corporation, BMW AG, Audi AG (Germany), General
Motors Company (U.S.), Ford Motor Company (U.S.), Toyota Motor Corporation
(Japan), Hyundai Motor Corporation (South Korea), Uber Technologies Inc. (U.S.), and
Apple Inc.
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