Market Size, Growth & Valuation (2024-30)

Artificial Intelligence in Automotive & Transportation Market is valued at USD 12.18 billion in 2023 and is estimated to grow at a CAGR of about 20.22% during the forecast period, i.e., 2024–30.

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Artificial Intelligence (AI) in Automotive and Transportation Market Structure – Segmentation & Geography

By Application

  • Human-Machine Interface
    • Central Display
    • Instrument Cluster
    • Steering Mounted Control
    • Head-up Display
  • Driver Monitoring
    • Physiological Measurement
    • Facial Movement and Eye Detection
  • Driver/ Identity Authentication
    • Finger
    • Facial and Iris
    • Voice
  • Autonomous Driving Processing Chips
  • Intelligent Traffic Management System

Human Machine Interface (HMI) is anticipated to contribute substantially to the market growth during the forecast period. It owes principally to its capabilities to inform drivers about the road or vehicle conditions, provide timely alarms & warnings, and help them make sound decisions, thereby contributing to a safer driving experience. Nevertheless, several prominent automakers are now pre-installing HMI systems in vehicles for customers to enhance their overall driving experience.

Additionally, features like reliable messaging, easier management, accuracy in testing stimulations, and attaining visuals inside the engine, among others, are further promoting the utilization of AI in HMI devices, augmenting the overall growth of the Artificial Intelligence in Automotive & Transportation Market.

By Vehicle Type

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Trucks
  • Heavy Buses

By Component

  • Hardware
  • Software

By Level of Autonomy

  • Level 1
  • Level 2
  • Level 3
  • Level 4
  • Level 5

By Technology

  • Machine Learning
  • Natural Language Processing
  • Context-Aware Computing
  • Computer Vision
  • Deep Learning

Machine Learning is anticipated to dominate the Artificial Intelligence in Automotive & Transportation Market with the largest share during the forecast period. It is attributed primarily to its features like image recognition & anomaly detection, used mainly to quickly detect & eliminate defective vehicle components before they begin creating issues in the vehicle manufacturing workflow.

As a result, it is generating a plethora of growth opportunities for the leading market players, enabling them to introduce innovations & upgrades in automobiles, thereby propelling the demand for Artificial Intelligence in the automotive & transportation sector through 2030.

By Region

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific.

North America dominated the Artificial Intelligence (AI) in the Automotive & Transportation Market with the largest share in recent years and is projected to prevail in the same trend during the forecast period. The country is an early adopter of electric & autonomous vehicles with advanced technologies like Artificial Intelligence (AI), Machine Learning (ML), Natural Language Processing, Context-Aware Computing, Computer Vision & Deep Learning, etc. Hence, it is witnessing a mounting utilization of AI across its automotive & transportation sectors., i.e., assisting drivers with features like voice search, image recognition, voice command, and others.

Key Growth Trends (2024-2030)

AI-powered Innovations Transforming the Automotive Landscape – In the ever-evolving Automotive & Transport Market AI-powered systems have taken center stage, revolutionizing the driving experience. These advanced systems are seamlessly integrated into vehicles, enabling a new era of connectivity and convenience. From sophisticated infotainment systems that provide passengers with a wealth of entertainment and information options to advanced navigation tools that offer real-time traffic updates & optimized routes, AI is reshaping the way of interaction with vehicles.

Moreover, predictive maintenance capabilities driven by AI ensure that vehicles run smoothly by proactively identifying & addressing maintenance needs, reducing downtime & operational costs. Additionally, AI facilitates vehicle-to-vehicle communication, enhancing safety & efficiency on the road by enabling cars to exchange critical information. As AI continues to permeate the automotive industry, it's not only improving our driving experience but paving the way for a smarter, safer, and more connected future in transportation.

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Research Methodology

MarkNtel Advisors employs a thorough and iterative research methodology to enhance accuracy in market estimates. Our process combines bottom-up and top-down approaches, focusing on data triangulation for validation. It includes defining research objectives, selecting representative samples, and collecting data through surveys and interviews. Post-collection, we analyze and validate the data using statistical tools, ensuring reliability. Finally, we forecast market trends through predictive modeling, compiling our insights into detailed reports with charts and strategic recommendations for informed decision-making.

Competitive Analysis Framework

The Artificial Intelligence (AI) in Automotive and Transportation industry is moderately fragmented, with key players focusing on technological advancements and strategic partnerships. A detailed competitive analysis helps businesses benchmark against industry leaders and identify growth opportunities.

Leading Artificial Intelligence (AI) in Automotive and Transportation Companies are:

  • Continental AG
  • Denso Corporation
  • Nvidia Corporation
  • Intel Corporation
  • Harman International
  • AI Motive
  • Argo AI
  • Siemens
  • Thales Group
  • CarVi
  • Valeo
  • Optalert
  • Orbcomm Inc.
  • Visteon Corporation.

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Key Questions Answered in This Report:

  1. What is the current market size of Artificial Intelligence (AI) in Automotive and Transportation, and what growth rate is projected by 2030?
  2. Which key trends are driving Artificial Intelligence (AI) in Automotive and Transportation market expansion in the next five years?
  3. How does market segmentation impact industry dynamics?
  4. Which geographic regions offer the highest growth potential?
  5. What are the primary challenges hindering Artificial Intelligence (AI) in Automotive and Transportation industry growth?
  6. How do regulatory policies influence market development?
  7. What are the latest technological advancements impacting the sector?
  8. Who are the leading Artificial Intelligence (AI) in Automotive and Transportation companies, and what are their market shares?
  9. What strategies are top competitors adopting to maintain dominance?
  10. What are the emerging niche segments with high growth potential?
  11. How do macroeconomic factors affect market performance?
  12. What are the investment opportunities for new entrants?
  13. How does pricing strategy vary across different market segments?
  14. What are the future innovation trends expected in this industry?

About Us – MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

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