September 13, 2017
The automotive artificial intelligence (AI) market is expected to be valued at $ 782.9 million in 2017 and is expected to reach $10,573.3 million by 2025, at a CAGR of 38.46% between 2017 and 2025, according to the ďAutomotive Artificial Intelligence MarketóGlobal Forecast to 2025.Ē
The increasing government regulations for vehicle safety, growing adoption of ADAS technology by OEMs, and rising demand for enhanced user experience play a significant role in the growth of the automotive AI market.
Deep learning technology is expected to be the largest and the fastest-growing technology. Many companies are investing in the development of self-driving cars in which the deep learning technology is used for image processing, speech recognition, and data analysis. For instance, Google is heavily investing in autonomous vehicles through its spin-off Waymo and has an active system integrated into its self-driving vehicle with the deep learning technology to detect pedestrians in different situations.
Due to the huge volumes of data generated and processed in a vehicle, data mining is expected to be the fastest-growing process in the automotive AI market. Data is collected from different sensors used in a semi-autonomous or autonomous vehicle, which can be used to train the vehicle to detect or recognize images, obstacles, and various scenarios one might encounter behind the wheel.
Automotive Human-Machine Interface (HMI) has evolved drastically in last few years and implemented disruptive technologies in various products such as voice recognition system and gesture recognition system. This is a growing market where the innovative AI technology is being used in upcoming models in premium segments.
The automotive AI market in APAC is expected to grow at a high rate between 2017 and 2025. APACís massive population, fast-growing economies, and rising living standards are well positioned to ride the AI wave.
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