Automotive Artificial Intelligence Market by Component (Hardware, Software, and Service), Technology (Machine Learning & Deep Learning, Computer Vision, and Natural Language Processing), and Application (Semi-Autonomous and Autonomous): Global Opport

"Market Definition:
The Global Automotive AI Market was valued at USD 2.49 billion in 2019, and is estimated to garner USD 74.5 billion by 2030, at a CAGR of 36.2% during the forecast period, from 2020 to 2030.
Artificial Intelligence (AI) is one of the most advancing technologies in computer science. Fully autonomous and semi-autonomous vehicles use artificial intelligence to perform complex tasks such as face recognition, threat detection, image processing, vehicle localization, and mapping. Machine learning technology enables the vehicle in apprehending data, imitate the human mind, language understanding, problem solving and others. Artificial Intelligence and other technologies such as Advance Driver Assistance System (ADAS), Adaptive Cruise Control (ACC), and Electronic Braking Distribution (EBD) make driving experience better and ensure advanced safety for the driver and passengers.
Market Dynamics and Trends
The growth of the automotive artificial intelligence market is attributed to the rise in the demand for autonomous vehicles and the increase in the preference for improved user convenience and experience. However, security and privacy concerns and rise in cybercrime are impeding the market. On the other hand, surge in the demand for premium vehicles is anticipated to create lucrative opportunities in the market.
Market Segmentations and Scope of the Study:
The global automotive AI market has been segmented based on component, technology, application, and geography. On the basis of component, the market is trifurcated into hardware, software, and service. In terms of technology, the market is categorized as machine learning & deep learning, computer vision, and natural language processing. Based application, the market is bifurcated into semi-autonomous and autonomous. On the basis of region, the market is segregated into North America, Europe, Asia-Pacific, and Rest of World (RoW).
Geographical Analysis
Europe represents for a major share of the market due to the high demand for driver-assistance technologies, especially during heavy traffic scenarios and the presence of key players in the automotive industry investing heavily in AI.
The market in Asia Pacific is expected to grow due to the high demand for consumer electronics, improving internet infrastructure, and growth in economy and disposable income. Moreover, rise in government initiatives, increase in the demand for premium vehicles, growing investments in AI technology, and high adoption of AI solutions and services for autonomous and semi-autonomous applications are propelling the growth of the market in this region.

Competitive Landscape

Key players in the global AUTOMOTIVE AI Market include BMW, IBM Corporation, Intel Corporation, Micron Technology, Microsoft Corporation, NVIDIA Corporation, Otto Motors, Tesla Inc., Toyota, and Waymo.
KEY MARKET SEGMENTS:
• Global Automotive AI Market – By Component
o Hardware
o Software
o Service
• Global Automotive AI Market – By Technology
o Machine Learning & Deep Learning
o Computer Vision
o Natural Language Processing
• Global Automotive AI Market – Application
o Semi-autonomous
o Autonomous
• Global Automotive AI Market – By Geography
o North America
 U.S.
 Canada
 Mexico
o Europe
 U.K.
 Germany
 France
 Russia
 Rest of Europe
o Asia-Pacific
 Japan
 China
 India
 South Korea
 Rest of Asia-Pacific
o RoW
 Latin America
 Middle East
 Africa
KEY PLAYERS:
• BMW
• IBM Corporation
• Intel Corporation
• Micron Technology
• Microsoft Corporation
• NVIDIA Corporation
• Otto Motors
• Tesla Inc.
• Toyota
• Waymo
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