Key Facts about You Didn’t Know About the Artificial Intelligence for Automotive Market


Published Date : Jul 30, 2018

Albany, New York, July 30, 2018: A recent report, titled, “Global Artificial Intelligence for Automotive Market Professional Survey Report 2018,” added by MarketResearchReports.biz to their vast repository, projects this market to bode well in terms of depicting a magnificent growth thanks to the world of technology expanding with leaps and bounds.

Technology in every field is mostly progressing towards attaining not only high efficiency, but also to simplify processes. And a pinnacle of success in the context of technological advancements is the field of artificial intelligence, also called AI. Now AI is utilized greatly in a variety of sectors such as health, e-commerce, retail, and BFSI. But, apart from these sectors, AI has found immense applications in the automotive industry, thus giving rise to the global artificial intelligence for automotive market.

Rising disposable incomes and changing lifestyles have primarily caused an increase in demand for better and enhanced transportation systems. And this has been possible up to a certain limit especially by the introduction of artificial intelligence in the automotive market. Thus, such changes are primarily responsible for driving this market.

However, high costs of building AI systems in the automotive sector is substantially restraining the global artificial intelligence for automotive market. Such high costs might discourage potential customers having less disposable income from buying the product. Nevertheless, many companies are expected to introduce cheaper and highly enhanced AI systems soon, which could reduce effects of the restraints.

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The global artificial intelligence market showcases a relatively nascent competitive landscape, as many players are finding it difficult to develop prototypes for their underlying technology. Most companies are attempting to carry out extensive research and innovations, thus constituting their key strategy to gain handsome revenue and market shares. Many companies are also focusing on getting funds from private as well government agencies so that the required research can be carried out with ease in the global artificial intelligence for automotive market.

NVIDIA Corporation, Alphabet Inc., Intel Corporation, IBM Corporation, Microsoft Corporation, Harman International Industries Inc., Xilinx Inc., Qualcomm Inc., Tesla Inc., Volvo Car Corporation, BMW AG, Audi AG, General Motors Company, Ford Motor Company, Toyota Motor Corporation, Hyundai Motor Corporation, Uber Technologies Inc., Honda Motor Co. Ltd., Daimler AG, Didi Chuxing, AImotive, Nauto Inc., nuTonomy, Argo AI, and drive.ai., are some of the most prominent players, among many others operating in the global artificial intelligence for automotive market.

The global artificial intelligence for automotive market covers North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America, from a regional perspective. From these, North America has accounted for a spectacular revenue valuation, which is further expected to continue in the near future. This is mainly due to a large uptake and adoption of artificial intelligence systems used in the automotive industry in North America.

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