The automotive artificial intelligence market is projected to grow from USD 2.3 billion in 2022 to USD 7.0 billion by 2027, at a CAGR of 24.1% from 2022 to 2027. Major factors driving the growing adoption of ADAS technology by OEMs, and the rising demand for enhanced user experience and convenience features
Key players in the automotive artificial intelligence market include Nvidia Corporation (US), Alphabet Inc. (US), Intel Corporation (US), Microsoft Corporation (US), IBM Corporation (US), Qualcomm Inc. (US), Tesla Inc. (US), BMW AG (Germany), Micron technology (US), Xilinx Inc. (US), Harman International Industries Inc. (US), Volvo Car Corporation (Sweden), Audi AG (Germany), General Motors Company (US), Ford Motor Company (US), Toyota Motor Corporation (Japan), Honda Motor Co. Ltd. (Japan), Hyundai Motor Corporation (South Korea), Daimler AG (Germany), Uber Technologies Inc. (US), Didi Chuxing (China), Mitsubishi Electric (Japan). Automotive Artificial Intelligence (AAI) GmbH (Germany), Nauto (US), Argo AI (US), German Autolabs (Germany), Tractable (UK), iGloble (India), Soniclue (Israel), Ather (India), Rivigo (India), Motional (US), Refraction AI (US), SapientX (US), CARVI (US), and Zoox (US).To compete in the automotive artificial intelligence market, these companies have used a variety of growth strategies, including product launches and development, expansions, collaborations, and acquisitions. From 2018 to 2021, the key players most dominant strategy for strengthening their product portfolio and broadening their consumer base has been product launches and developments.
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Nvidia Corporation is among the frontrunners in the automotive artificial intelligence market due to its wide range of GPUs to train and run ML and AL algorithms. The company is among the global leaders in the visual computing business. It has a well-established geographic footprint and mainly deals with major OEMs and ODMs worldwide. Nvidia has made substantial investments in its R&D division. This has resulted in strong organic growth and a robust position in the AI market in terms of hardware product development. Nvidia uses its existing business channels as part of its strategy to reach customers easily. It has more than 40 offices worldwide, generating major revenue from geographies such as Taiwan, China, the US, and Europe. Nvidia’s global presence, along with the adoption of inorganic growth strategies, has helped the company earn a high rating. Nvidia Corporation has a market share of around 20-22% in the automotive artificial intelligence market.
Alphabet is well established and has expertise in the area of artificial intelligence. Its artificial intelligence products are widely used in the automotive, enterprise, consumer, healthcare, educational, and legal sectors. The company seeks to improve the performance of its Google Cloud, Google Services, and Other Bets segments. The company aims to make investments in land, buildings for data centers and offices, servers, and networking hardware to support its long-term commercial growth. Alphabet operates through its subsidiaries on a global scale and has a network of R&D sites spread out across the Americas, Europe, and Asia.The company’s People+AI Research Initiative (PAIR) intends to connect researchers across Google to study and redesign the ways people interact with AI systems. Alphabet has a market share of around 18-20% in the automotive artificial intelligence market.
Intel enjoys a strong market presence and has been effectively defending the same. The company has dominated the market for microprocessors for many years. The company’s dominant market position ensures a large addressable market and provides increased scale and related benefits. It also offers competitive advantages and allows the company to penetrate adjacent markets. Intel’s network of manufacturing, assembly, and test facilities, along with global architecture design teams enables the company to have more direct control over processes, quality control, product cost, production timing, performance, power consumption, and manufacturing yield. Intel has strengthened its AI division by acquiring Screenovate, RemoteMyApp, Saffron Technologies, Altera, and Nervana Systems. The company aims to make AI technology easily available to all, with open data exchanges and initiatives. Intel has a market share of around 12-14% in the automotive artificial intelligence market.
Automotive Artificial Intelligence Market by Offering, Technology (Deep Learning, Machine Learning, Computer Vision, Context-aware Computing and Natural Language Processing), Process, Application, Component and Region - Global Forecast to 2027
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