Global Artificial Intelligence in Automotive Market Size Analysis, 2018-2028

REPORT ID: BKR765 Domain: Automotive Published Date: July 2018

 

 

Global Artificial Intelligence in Automotive Market Size is estimated to be valued over USD 690 million in 2018.

From advanced driver systems to driverless cars, artificial intelligence (AI) has transformed the entire automotive industry. The industry is shifting to a new phase wherein AI will be at core of the machine processing. The transition phase has taken a momentum since 2015. Various leading companies are investing heavily on developing prototype based on AI systems.

AI will play a key role in autonomous driving, system connectivity, electrification and assistive driving systems. The transition will create high market opportunity not only for traditional vendors and manufacturers but also new entrants. The players need to invest not only on technological development but also on integration of technologies to offer customized solutions. This will help in unlocking the full potential of AI and will strengthen the company market position.

Currently, the industry is still at its initial phase and only process based mechanism has been utilized for now. This includes automated data and invoice processing, design assessment, automated spending analysis, and quality control assessment. Automated driving is next phase to artificial intelligence, potential of which is expected to be utilized in another 5 years. This will include voice control driving assistance, autonomous driving cars running on large scale, and improved navigation systems. Mobility services will be the most advanced feature of AI and will including robo-taxis, pricing setup based on customer locations, and maintenance scheduling, etc. While the work on automated driving has already started, initial mobility based AI will take time to implement.  Creating efficient algorithm will be a prime factor in fast pace in AI advancement.

Overall, the industry is driven by user centric experience and higher safety modulations. According to the World Health Organization (WHO), nearly 1.3 million road accidents takes place annually, that translates to over 3,000 deaths per day. AI has the potential to largely curb the road accidents since over 90% of accidents are due to driver errors. AI are devoid of any human emotions and as such are efficient enough for rational decision making.

Regulatory compliances will also play a major role in overall advancement towards artificial intelligence in automotive market. According to the Vienna Convention on Road Traffic, the driver must be in full state of mind in order to drive the vehicle in traffic. AI is bringing altogether new sets of rules and regulations to match the requirement. North America and Europe are pioneers in development of rules that are ascertain to self-driving vehicles. Various countries has set their self-driving prototype to boost autonomous driving. For example, in 2018, China issued its first self-driving licenses to drivers. In U.S., over 30 states has issued licenses for self-driving vehicles on road. Another country-South Korea is experimenting self-driving car feasibility in its K-city. Such development is expected to boost the overall deployment of AI based vehicles worldwide.

Costs to be a Major Factor for Companies Offering Artificial Intelligence in Automotive Market

While costs will certainly play a key role in development of algorithm, the major concern will be from traditional vehicle manufacturers. These companies need to either fully change the production mechanism or have to integrate the AI based vehicle with their inline production centers. In both the cases, engaged companies need to invest heavily on production capacity – meaning higher operational cost. Early deployment could led to higher profitability margin in longer term.

Cloud Hosted Technologies will be a Major Trend in the AI based Vehicles

Cloud hosting based intelligence will be at very core of the AI enabled vehicles. Cloud computing not only reduces the cost but also offers higher flexibility, leading to greater reach. In automotive sector, this will help in faster processing and better centralized connectivity through internet. As per the estimates, there will be over 300 million vehicles with internet connectivity. As such, cloud hosting intelligence will play a major role in artificial intelligence in automotive market worldwide.

Industry Revenue Analysis by Type: Services Sector to Dominate the Artificial Intelligence in Automotive Market

On the basis of types, services sector will account for over 55% of global share followed by software and hardware (21%) in 2018. Services sector will also register fastest growth owing to increasing demand during the forecast period. Hardware will gain momentum post 2022.

Global Artificial Intelligence in Automotive Market Size and Forecast: Regional Analysis

Globally, North America accounted for over US$ 370 million in 2017 and will continue to register double digit growth during the forecast period (2018-2028). There will be over 170 million cars with internet connectivity in U.S. by 2021. This will largely boost the overall sales of AI based vehicles in the region. There are number of leading companies headquartered in U.S. R&D is at the very core of these companies. Google, Tesla, GM and Ford are few companies that are actively working on commercializing AI based vehicles in the region. Development of smart traffic management systems is another key feature driving the overall automotive artificial intelligence market in U.S.

Europe is another major destination for key players. Germany, UK and France are forecasts to represent 73% of Western Europe market by 2028. Companies are capitalizing the region to ensure long term sustainability. For instance, in 2017, Nauto announced its plan to expand its presence in Europe. Similar such trends will be visible across regions in years to come.

Global Artificial Intelligence in Automotive Market Size and Forecast: Competition Landscape

The Key players and companies in global Artificial Intelligence in Automotive Market include BMW, Almotive, Bosch, Bright Box, FIVEAI, Ford, Intel, Argo, General Motors, Tesla, Nauto, NVIDIA, Toyota, Uber, Google, Eyeris, and Texas Instruments.

Industry Segmentation

By Vehicle Type:

  • Two Wheelers
  • Four wheelers
    • Cars
    • Trucks
    • Buses
  • Three Wheelers

By Type:

  • Software
  • Services
  • Hardware

By Automation Level:

  • Semi-Autonomous
  • Fully Autonomous

By Technology:

  • Deep learning processing
  • Natural Language Processing
  • Internet of Things
  • Cognitive Capabilities
  • Others

What Will You Discover in the Report?

  • An in-depth analysis of the Artificial Intelligence in Automotive market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
  • How the Artificial Intelligence in Automotive market sales is expected to grow throughout the forecast period.
  • How geopolitical policies and technological changes will affect the Artificial Intelligence in Automotive market in near future
  • Where the stakeholders should invest to generate higher profit margins
  • How consumers (end-users) will reflect to the Artificial Intelligence in Automotive industry during the forecast period
  • Who are the Artificial Intelligence in Automotive industry leaders and what are the key initiatives taken by them for long term growth

Who will benefit from the Report?

  • Artificial Intelligence in Automotive Industry Suppliers
  • Artificial Intelligence in Automotive Industry Manufacturers
  • Consultants and Analysts
  • Researchers
  • Industry Specialists

Analyst access with Bekryl Market Analysts

Purchasing of Artificial Intelligence in Automotive market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions.

Artificial Intelligence in Automotive Market Size TOC

  1. Report Structure
  2. Research Methodology
    • Market Engineering Factors Weightage
    • Market Share Methodology
  3. Executive Summary
    • Key Findings
    • Market Engineering Factors
    • Industry Expert Perspectives
  4. Market Definitions
  5. The Global Artificial Intelligence in Automotive Market Value
    • Overall Market Forecast
    • Artificial Intelligence in Automotive Growth Outlook, By Segments
    • Artificial Intelligence in Automotive Growth Scenario, by Region
  6. The Artificial Intelligence in Automotive Industry Ecosystem
    • Parent Market Overview
    • Industry Value Chain and Distribution Analysis
    • Growth Factor Analysis
    • Key Industry Players By Region
  7. The Artificial Intelligence in Automotive Industry Dynamics
    • Drivers
    • Challenges
    • Opportunities
    • Mega Trends
    • Geographical Trends
    • Industry Experts Views
    • Merger Acquisition
    • Regulatory Compliances, By Selected Countries
    • Key Industry Developments
  8. The Artificial Intelligence in Automotive Market Pricing Analysis
    • Artificial Intelligence in Automotive Product Pricing Forecast
    • Pricing Analysis By Region
    • Pricing Trends
  9. Global Artificial Intelligence in Automotive Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Industry Predictive Analysis
    • Artificial Intelligence in Automotive Industry Segment Comparative Ranking Analysis
    • Key Companies Involved and Initiatives
    • Global Industry Opportunity Proposition Analysis
    • Market Share Analysis, (%)
    • Global Artificial Intelligence in Automotive Market Size and Forecast, (2017-2027)
      • Market Value Forecast (US$ Million)
      • Growth Analysis (Y-o-Y) and Forecast
  1. Global Artificial Intelligence in Automotive Industry Size and Forecast, By Segments

By Vehicle Type:

  • Two Wheelers
  • Four wheelers
    • Cars
    • Trucks
    • Buses
  • Three Wheelers

By Type:

  • Software
  • Services
  • Hardware

By Automation Level:

  • Semi-Autonomous
  • Fully Autonomous

By Technology:

  • Deep learning processing
  • Natural Language Processing
  • Internet of Things
  • Cognitive Capabilities
  • Others
  1. North America Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis
    • North America Artificial Intelligence in Automotive Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • North America Artificial Intelligence in Automotive Market, By Segments (As mentioned in section 10 of TOC)
    • S. Artificial Intelligence in Automotive Market Size and Forecast, By Segments
    • Canada Artificial Intelligence in Automotive Market Size and Forecast, By Segments
  2. Latin America Artificial Intelligence in Automotive Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Latin America (South America) Artificial Intelligence in Automotive Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • Latin America Artificial Intelligence in Automotive Market, By Segments (As mentioned in section 10 of TOC)
    • Brazil Artificial Intelligence in Automotive Market Size and Forecast, By Segments
    • Argentina
    • Mexico
    • Rest of Latin America

(Artificial Intelligence in Automotive industry analysis covered across Latin America countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Western Europe Artificial Intelligence in Automotive Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Western Europe Artificial Intelligence in Automotive Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Western Europe Artificial Intelligence in Automotive Market, By Segments (As mentioned in section 10 of TOC)
    • Germany Artificial Intelligence in Automotive Market Size and Forecast, By Segments
    • UK
    • France
    • Spain
    • Italy
    • NORDIC
    • Switzerland
    • Rest of Western Europe

(Artificial Intelligence in Automotive industry analysis covered across Western Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Central and Eastern Europe (CEE) Artificial Intelligence in Automotive Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Central and Eastern Europe Artificial Intelligence in Automotive Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Central and Eastern Europe Artificial Intelligence in Automotive Market, By Segments (As mentioned in section 10 of Artificial Intelligence in Automotive Market TOC)
    • Russia Artificial Intelligence in Automotive Market Size and Forecast, By Segments
    • Poland
    • Ukraine
    • Rest of CEE

(Artificial Intelligence in Automotive industry analysis is covered across Central and Eastern Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Asia Pacific Artificial Intelligence in Automotive Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Asia Pacific Countries
    • Asia Pacific Artificial Intelligence in Automotive Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Asia Pacific Artificial Intelligence in Automotive Market, By Segments (As mentioned in section 10 of TOC)
    • Japan Artificial Intelligence in Automotive Market Size and Forecast, By Segments
    • China
    • India
    • South Korea
    • Australia
    • ASEAN
    • Rest of Asia Pacific

(Artificial Intelligence in Automotive industry analysis is covered across Asia Pacific countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Middle East Artificial Intelligence in Automotive Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Middle East Countries
    • Middle East Artificial Intelligence in Automotive Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Middle East Artificial Intelligence in Automotive Market, By Segments (As mentioned in section 10 of TOC)
    • GCC Artificial Intelligence in Automotive Market Size and Forecast, By Segments
    • Israel
    • Rest of Middle East

(Artificial Intelligence in Automotive industry analysis is covered across Middle East countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Africa Artificial Intelligence in Automotive Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Africa Countries
    • Market Share Analysis, (%)
    • Africa Artificial Intelligence in Automotive Industry Size and Forecast, (2017-2027)
    • Africa Artificial Intelligence in Automotive Industry Share (%)
    • Africa Artificial Intelligence in Automotive Industry Growth Forecast (%)
    • South Africa Artificial Intelligence in Automotive Market Size and Forecast, By Segments
    • Algeria
    • Nigeria

(Artificial Intelligence in Automotive industry analysis is covered across Africa countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Artificial Intelligence in Automotive Market Competitive Landscape
    • Competition Dashboard
    • Funding and Investment
    • Company Market Positioning
    • Marketing Mix Strategies
    • Product Level Strategies
    • Go-to-Market Strategies
    • SWOT Analysis
    • Key Developments, By Companies
    • Company Profiles*
      • BMW
      • Almotive
      • Bosch
      • Bright Box
      • FIVEAI
      • Ford
      • Intel
      • Argo
      • General Motors
      • Tesla
      • Nauto
      • NVIDIA
      • Toyota
      • Uber
      • Google
      • Eyeris
      • Texas Instruments
  1. Analyst Opinion
  2. Summary and Conclusion
  3. For more Information, Bekryl can help

*(SWOT, Key Developments, and Strategies are based on individual companies)

To access the detailed Artificial Intelligence in Automotive industry TOC and sample research pages, download sample.

 

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