Press release
Automotive Artificial Intelligence Software Market Growth during 2021-2030 | Rise in Demand, Opportunities, Type, Future Analysis
Automotive Artificial Intelligence Software Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2030The Global Automotive Artificial Intelligence Software Market size is estimated to be USD 0.92 billion in 2019 and is predicted to reach USD 53.98 billion by 2030 with a CAGR of 44.8% from 2020-2030.
Automotive Artificial Intelligence Software is a system which is used for the altertion, process and functions and others to imitate human mind and absorbs the problem solving capacity automatically. This technology is mainly used in self driving vehicles and semi-autonomous vehicle to increase its operation efficiency and makes them more preferable as compared to conventional vehicles.
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Market Dynamics and Trends:
There have been various developments taken place over the period of time which includes technological advancements, development in infrastructure and systems and others. Furthermore, there have been evolution in the automotive industry with the combination of technology and flourishing automotive industry is further expected accelerate the growth of automotive artificial intelligence software market over the forecast period.
The other factors include increase in the demand of autonomous vehicle, increased demand of enhanced consumer experience, coupled with increase in the investment by major market players are further expected to support the growth of automotive artificial intelligence software. However, increase in cyber-crime and increase in privacy concerns are expected to inhibit the market growth. Moreover, increased demand of premium vehicle with advanced software and systems to increase its operation efficiency and friendly user interface is anticipated to create numerous opportunities in the automotive artificial intelligence software market in the near future.
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Market Segmentations and Scope of the Study:
The global automotive artificial intelligence software market share is analyzed on the basis of component, technology, application and geography. On the basis of component, the market is segmented into hardware, software, services. The hardware is sub segmented into processor, memory and network. The processor segment is further divided into Microprocessor (MPU) and Graphics Processing Unit (GPU). On the basis of technology, the market is divided into Machine Learning & Deep Learning, Computer Vision, and Natural Language Processing. On the basis of application, the market is fragmented into Semi-Autonomous and Fully Autonomous. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis:
North America is expected to hold the major market share owing to the increased adoption of advance technology coupled with increase in automotive industry over the forecast period. Furthermore, infrastructure development coupled with increased demand of autonomous vehicles is further expected to accelerate the growth of automotive artificial intelligence software market in the near future.
Asia Pacific is expected to show rapid growth with increasing market size owing to the fast developing automotive industry in the region which is further expected to expand the market. Moreover, increased adoption of advanced technology and increase in automation in vehicles are expected to support the market growth.
Competitive Landscape:
The automotive artificial intelligence software is highly competitive and also consists of various market players. Some of the major market players include NVIDIA Corporation, IBM Corporation, Micron Technology, Intel Corporation, BMW, Toyota, Waymo, Otto Motors, Tesla Inc., and Microsoft Corporation among others.
Contact:
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About Next Move Strategy Consulting:
Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.
We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
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