Trending in 2020 AI in Automotive Market: Industry Outlook with Business Opportunity by NVIDIA, Alphabet, Intel
Jan 9, 2020
Major technologies that are driving the automotive industry are artificial intelligence (AI) and high-performance computing and major companies operating in AI in Automotive Industry are NVIDIA , Alphabet, Intel, IBM, Microsoft etc
Florence, United States - January 9, 2020 /MarketersMedia/ —
According to AllTheResearch, the global AI in Automotive Ecosystem will see substantial growth by USD 28.1 billion in 2023. Companies such as Tesla and Google have already started investing and using AI technologies in their autonomous vehicles, along with startups like Argo AI, Drive.ai, nuTonomy, Otto, Preferred Networks, and Zoox, which are looking for ways to extend the AI technology usage. By 2030, highly autonomous vehicles can account for 10 to 15 percent of new car sales. OEMs and suppliers are already planning and investing in autonomous vehicles, which will be powered by AI.
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From robots on the factory floor to driverless cars, AI is changing the automotive industry. The automotive industry has a long record of utilizing modern technologies to bring cost-effective, innovative, and reliable and safe vehicles to the market. At Present, major technologies that are driving the automotive industry are artificial intelligence (AI) and high-performance computing
The major companies operating in AI in Automotive market are NVIDIA Corporation, Alphabet Inc., Intel Corporation, IBM Corporation, Microsoft Corporation, Harman International Industries Inc., Xilinx Inc., Qualcomm Inc., Tesla Inc., Volvo Car Corporation, BMW AG, Audi AG, General Motors Company, Ford Motor Company, Toyota Motor Corporation, Hyundai Motor Corporation, Uber Technologies Inc., Honda Motor Co. Ltd., and Daimler AG.
Segmentation of AI in Automotive Ecosystem
By Offering: Hardware, Software
By Technology: Deep Learning, Machine Learning, Context Awareness, Computer Vision, Natural Language Processing
By Process: Professional Services, Design and Integration, Risk and Threat Assessment, Consulting, Training and Education,
Support and Maintenance, Managed Security Services
By Security Type: Signal Recognition, Image Recognition, Data Mining
By Application: Human–Machine Interface, Semi-autonomous Driving, Autonomous Driving
The AI in Automotive Market was dominated by North America in 2018 and the US has made the highest investment of $5.4 Billion. The growth is attributed to the presence of major players such as Tesla, Daimler, Volkswagen Group, Subaru, and Hyundai, which are offering features and functions with this technology. In Germany, AI will enable significant automation, yielding up to 4 percent additional GDP in 2030. There are many robots and machines already on the job in automotive factories around the world, but these machines generally perform a few actions in a limited number of scenarios according to the given guidelines and rules.
The U.S. National Highway Traffic Authority has estimated that the deployment of autonomous vehicles could save USD 300 billion by 2025, reducing collisions and enabling safe driving. Increasing awareness among consumers regarding autonomous technologies will complement market growth. As consumers are rapidly adopting driver-assist technologies to reduce driving burden and ensure road safety, the demand for autonomous vehicles will surge prolifically over the forecast timespan. Automotive manufacturers are taking note of these trends and are offering innovative driver assistance solutions to gain competitive advantage.
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