Automotive Artificial Intelligence Market Companies
LONDON, March 03, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the Automotive Artificial Intelligence Market, strategic business-to-business collaborations are gaining popularity among intelligence industry trends automobile artificial. Companies providing automotive artificial intelligence are forging partnerships and collaborating to develop new technologies and products.
For example, in May 2021, a mobile transport company based in China and Volvo, a car manufacturing company based in Sweden, are involved in a partnership with self-driving vehicles. Through this partnership, Volvo will supply Didi with XC90 SUVs equipped with auxiliary steering and braking systems. The vehicles will be the first to use Didi Gemini, the ridesharing company’s new autonomous hardware platform, and will be tested with human safety drivers. In the other partnership, in February 2021, Volkswagen, a Germany-based automaker, and Microsoft, an American multinational technology company that produces computer software, consumer electronics, personal computers and related services, joined forces. partners to develop self-driving car software. With this partnership, Volkswagen and Microsoft will jointly develop the “Volkswagen Automotive Cloud”. The service will support all of the German automaker’s digital and mobility products, including car sharing and other shared mobility services. By 2020, Volkswagen hopes to have more than 5 million cloud-connected vehicles, thanks to the Internet of Things. As part of the agreement, the companies will open a new automotive cloud development center near Microsoft’s headquarters in Redmond, Washington.
Demand for a sample of the world automotive artificial intelligence market report
Major Players of Automotive Artificial Intelligence Market are DiDi Chuxing Technology, Otto Motors, Waymo LLC, Microsoft Corporation, Intel Corporation, NVIDIA Corporation, BMW AG, IBM Corporation, Harman International Industries Inc., Xilinx Inc., Qualcomm Inc. , Tesla Inc., Volvo Car Corporation, Micron Technology, Inc., Toyota and Uber Technologies.
The size of the global automotive artificial intelligence market is expected to grow from $1.42 billion in 2021 to $1.98 billion in 2022 at a compound annual growth rate (CAGR) of 39.62%. The growth of the Automotive Artificial Intelligence market is primarily driven by the reorganization of business operations and recovery from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, work remotely and the closure of business activities that have resulted in operational challenges. . The market should reach $7.78 billion in 2026 at CAGR of 40.79%.
The growing demand for autonomous vehicles is expected to propel the growth of the automotive artificial intelligence market. Artificial intelligence has a wide range of applications in the automotive industry. As technology evolves, the automotive industry has taken advantage of new discoveries to provide new ways to make driving more autonomous. The use of artificial intelligence to develop self-driving cars is one of them. A self-driving car (also known as a self-driving car or driverless car) is a vehicle that travels to places without the need for a human driver using a variety of sensors, radars, cameras and intelligence artificial. For example, according to Deloitte, the global automotive AI market will peak at a total volume of approximately $27 billion in 2025. Hence, an increase in the demand for automotive cars drives the growth of automotive artificial intelligence.
The global automotive artificial intelligence market outlook is segmented by component into hardware, software, service; by type in automatic training, ADAS; by process in signal recognition, image recognition, data mining; by technology in deep learning, machine learning, context awareness, computer vision, natural language processing; by semi-automatic application, man-machine interface, autonomous driving.
In 2021, North America was the greater region in the automotive artificial intelligence market. Asia Pacific should be the fastest growing region in the forecast period. Regions covered in the Automotive Artificial Intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle- East and Africa.
Global Automotive Artificial Intelligence Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provide insights into the Automotive Artificial Intelligence Market , analyze the Automotive Artificial Intelligence Market and forecast market size and growth for overall market, Automotive Artificial Intelligence Market segments and geographies, Automotive Artificial Intelligence Market trends, drivers of the Automotive Artificial Intelligence Market, Automotive Artificial Intelligence Market Constraints, Revenues, Profiles and Market Share of Automotive Artificial Intelligence Market Top Competitors in 1000+ Industry Reports, Covering 2+ 500 market segments and 60 geographical areas.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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