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Global Artificial Intelligence (AI) Market for Automotive and Transportation Industry is Set to Reach USD 45.1 billion by 2024, Observing a CAGR of 17.7% during 2019–2024: VynZ Research

/EIN News/ -- NEW YORK, Feb. 11, 2020 (GLOBE NEWSWIRE) -- The global artificial intelligence (AI) market for automotive and transportation industry is expected to grow at a CAGR of 17.7% during the forecast period with its market size predicted to reach USD 45.1 billion by 2024.

Industry Insights by Offering (Hardware, Software, and Services), by Technology (Machine Learning, Deep Learning, Computer Vision, Context Awareness, and Natural Language Processing [NLP]), by Application (Autonomous Vehicle, Semi-Autonomous Vehicle, and Human Machine Interface [HMI]), by Process (Data Mining, Image Recognition, and Signal Recognition)

Emerging truck platooning, which is technology of linking two or more trucks in convoy, using any connectivity technology and automated driving support Offerings is projected to be one of the major opportunities for the market. Further, growing demand of premium segment vehicle will act as an opportunity for the global artificial intelligence market for automotive and transportation industry in near future.  

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Deep learning technology attributed for the foremost share in the artificial intelligence market for automotive and transportation industry

On the basis of technology, the market is subdivided into machine learning, deep learning, computer vision, context awareness, and natural language processing. Among these, deep learning technology attributed for the foremost share in the artificial intelligence market for automotive and transportation industry with major application in transportation management sector. However, data mining and machine learning are other two significant technologies growing rapidly and is expected to dominate the artificial intelligence market for automotive and transportation industry in years to come.

Explore key industry insights in 66 tables and 40 figures from the 194 pages of report, Global Artificial Intelligence (AI) Market for Automotive and Transportation Industry Analysis and Forecast to 2024 - Industry Insights by Offering (Hardware, Software, and Services), by Technology (Machine Learning, Deep Learning, Computer Vision, Context Awareness, and Natural Language Processing [NLP]), by Application (Autonomous Vehicle, Semi-Autonomous Vehicle, and Human Machine Interface [HMI]), by Process (Data Mining, Image Recognition, and Signal Recognition)

Geography Insight

Geographically, North America, specifically US is the largest artificial intelligence market for automotive and transportation industry with technically advance region and early adopter of AI in numerous sectors. Besides, implementation of some of the government regulations such as Hours of Service Solution (HOS) revisions Compliance, Safety, and Accountability (CSA) and are expected to drive the artificial intelligence market for automotive and transportation industry in the region.

Competitive Insight

Some of the key players operating in the artificial intelligence market for automotive and transportation industry are Continental AG, Denso Corporation, Nvidia Corporation, Intel Corporation, Harman International, AI Motive, Argo AI, CarVi, Harman International, Valeo, Orbcomm Inc., and Affectiva.

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Key Takeaway from the Report:

  • Among all the offering, software and service segment together captures higher market share in 2018.
  • Of all the technology, deep learning technology attributed for the foremost share in the artificial intelligence market for automotive and transportation industry.
  • Among all the applications, HMI has grown considerably in past 2-3 years and is implemented in several emerging technologies including voice and gesture recognition.
  • Of all processes, data mining is expected to account for the largest market share in current year and is expected to grow at fastest rate with adoption of autonomous and semi-autonomous vehicle.

The Report Offers:

  • Historical market estimate for the years 2014–2018 and forecast for the years 2019–2024
  • Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
  • Market insights by in-depth segmentation with industry dynamics.
  • Competitive analysis and benchmarking of the industry leaders and their product offerings
  • Profiles of leading players and innovators, their financial overview and product portfolio
  • Analysis of key industry trends and recent developments
  • Value chain analysis and distribution channel analysis with opportunity assessment
  • Market share analysis of major players

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We provide accurate data and in-depth analysis with all-inclusive coverage.

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Robust research methodology and data triangulation to ensure high quality report.

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24*7 analyst support – Pre and post purchase of the report as well as during the project tenure.

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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of revenue (USD Million). The report segments the global artificial intelligence (AI) market for automotive and transportation industry on the basis of Offering, Technology, Application, Process and region.

Global Artificial Intelligence (AI) Market for Automotive and Transportation Industry Coverage

Offering Insight and Forecast 2014-2024

  • Hardware
  • Software
  • Services

Technology Insight and Forecast 2014-2024

  • Machine Learning
  • Deep Learning
  • Computer Vision
  • Context Awareness
  • Natural Language Processing (NLP)

Application Insight and Forecast 2014-2024

  • Autonomous Vehicle
  • Semi-Autonomous Vehicle
  • Human Machine Interface (HMI)

Process Insight and Forecast 2014-2024

  • Data Mining
  • Image Recognition
  • Signal Recognition

Geographical Segmentation

Artificial Intelligence (AI) Market for Automotive and Transportation Industry by Region

North America

  • By Offering
  • By Technology
  • By Application
  • By Process
  • By Country – U.S., Canada, and Mexico

Europe

  • By Offering
  • By Technology
  • By Application
  • By Process
  • By Country – Germany, U.K., France, Spain, and Rest of Europe

Asia-Pacific (APAC)

  • By Offering
  • By Technology
  • By Application
  • By Process
  • By Country – China, Japan, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Offering
  • By Technology
  • By Application
  • By Process
  • By Country – Brazil, Argentina, Algeria, South Africa, Saudi Arabia, and Other Countries

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Benefits of Report Purchase from VynZ:

Detailed Research

We provide accurate data and in-depth analysis with all-inclusive coverage.

Robust Research Methodology

Robust research methodology and data triangulation to ensure high quality report.

Analyst Support

24*7 analyst support – Pre and post purchase of the report as well as during the project tenure.

Sales Support

24*7 sales support – Hassle free delivery of the report and quick response and support by sales team.

Free Customization

20% post purchase free customization to meet your requirements.

Customer Satisfaction

We claim full customer satisfaction as our core values lie in building long term relationship.

Security

High level of data security and confidentiality of your information.

About VynZ Research

VynZ Research is a market research firm offering research, analytics, and consulting services on business strategies. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. VynZ Research assists enterprises to take strategic decisions for helping their businesses to grow. The reports developed by VynZ are based on market facts that include comprehensive analysis and quantification of market drivers, industry dynamics, opportunities, challenges, threats, market shares and anticipated new trends & technologies arising across wide range of industries.

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