Shifting consumer preference towards convenience and safety offer an opportunity for original equipment producers in the automotive AI market.
Segmental Analysis
The segmentation of the Global Automotive Artificial Intelligence Market is carried out on the basis of process, technology, application and regions. On the basis of technology, the automotive AI market is segmented into computer vision, machine learning, deep learning, context awareness, and natural language processing. Based on technology, deep learning segment held the maximum share of the Global Automotive Artificial Intelligence Market in 2018. The major share of this segment is mainly attributed to the increasing investment by many market players in the development of self-driving cars in which the deep learning technology is used for data analysis, image processing, motion detection, and voice search. The segmentation of the Global Automotive Artificial Intelligence Market on the basis of process consists of image recognition, signal recognition, and data mining. Based on process, data mining segment is likely to witness the growth ver the forecast period, owing to massive volumes of data generated and processed in a vehicle. The application segment of the market comprises human–machine interface, semi-autonomous driving, and autonomous driving.
Regional Analysis
The geographical analysis of the global market has been analyzed in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world (Latin America, the Middle East and Africa). North America is expected to be the leading region in the Global Automotive Artificial Intelligence Market primarily owing to the existence of major manufacturers in this region. In addition to this, the availability of sophisticated technology to advance artificial intelligence programs are much more easily accessible in this region in comparison with others. Growing expectance of autonomous cars in the U.S. has considerably contributed towards the expansion of the Global Automotive Artificial Intelligence Market in this region. Favorable government norms along with General Motors, Ford Motor Company, and Fiat-Chrysler Automotive leading the charge in the expansion of the artificial intelligence in automotive by constantly upgrading their product will have a positive impact on the market.
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