Artificial Intelligence In Automotive Market is Estimated to Witness High Growth Owing to Growing
Artificial intelligence (AI) in the automotive industry refers to the integration of AI technologies into vehicles, infrastructure, and processes associated with manufacturing, sales, and service of automobiles. AI in automobiles helps enhance driver and passenger experiences through autonomous vehicles, infotainment systems, navigations systems and predictive maintenance among others. Self-driving vehicles developed through machine learning technologies are revolutionizing the automotive industry. Global adoption of machine learning systems by automobile manufacturers is expected to drive growth of Artificial Intelligence In Automotive Market.
The global Artificial Intelligence in Automotive market is estimated to be valued at US$ 10.72 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Artificial Intelligence in Automotive market are BMW AG, AUDI AG, Intel Corporation, Tesla Inc, Uber Technologies, Volvo Car Corporation, Honda Motors, Ford Motor Company, NVIDIA Corporation, Tencent, Microsoft.
Growing investments Artificial Intelligence in Automotive Market Demand fuel innovations. Investments are also being made in developing smart city infrastructure integrated with AI-powered vehicles.
Adoption of deep learning and machine learning algorithms by automakers for developing self-driving cars is expected to drive growth of Artificial Intelligence in Automotive Market. Advancements such as computer vision and predictive analytics will enhance automobile functionalities.
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