Revving Up the Future : Global Automotive Artificial Intelligence Market Aiming for $8,887.6 Million by 2025
OREGAON, PORTLAND, UNITED STATES , October 10, 2023 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “?????????? ?????????? ???????????? ?????? by Component, Technology, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2025,” the global automotive artificial intelligence market is expected to reach at $8,887.6 million by 2025, from $445.8 million in 2017, growing at a CAGR of 45.0% from 2018 to 2025.
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The global automotive AI market size is analyzed based on four regions, North America, Europe, Asia-Pacific, and LAMEA. Furthermore, the report highlights the competitive landscape of the key market players to increase their shares and sustain the intense competition in the industry.?????? ???????????, ?????, ????? ???????????, ??? ???????????, ????????? ???????????, ?????? ??????????, ???? ??????, ???, ????? ???., ??? ?????? are some of the key players operating in the global automotive AI market.
Demand for better user experience & convenience features and surge in demand for autonomous vehicles drive the growth of the global automotive AI market. However, an increase in various security & privacy concerns restrains the growth up to a certain extent. On the other hand, the rise in demand for premium vehicles is expected to create numerous opportunities in the future.
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Based on the component, the hardware segment contributed nearly half of the total market in 2017 and will maintain its dominant position throughout the forecast period. On the other hand, the services segment is expected to register the highest growth rate with a CAGR of 47.8% from 2018 to 2025, owing to increase in requirement of hosting services including maintenance, integration, security, and others to resolve hosting issues.
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Based on technology, the computer vision segment generated the highest market share in 2017, contributing nearly two-fifths of the total market share. This is due to the surge in the usage of machine learning and deep learning for developing self-driving vehicles. However, the natural language processing segment is expected to register the fastest CAGR of 47.0% from 2018 to 2025, owing to ease in the manipulation of texts and automatic identification of the voice, speech, and places.
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Based on the region, North America accounted for nearly two-fifths of the total market share in 2017 and is expected to maintain its lead position throughout the forecast period. This is due to an increase in demand for AI, rise in demand for automation, the emergence of the Internet of Things (IoT), and accessibility to high-end infrastructure.
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David Correa
Allied Market Research
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