Automotive AI Software & Hardware Market Set To Soar

According to a report from Tractica, autonomous driving will be a leading impetus for artificial intelligence (AI) spending in the automotive industry, however the use cases for AI in vehicles are much broader. Key applications encompass automotive human machine interaction (HMI) functionality like voice/speech recognition, driver face analytics, emotion recognition, and gesture recognition; maintenance and safety applications like predictive maintenance, automated on-road customer service, and vehicle network and data security; and personalized services in cars, among many others. Essentially, across 15 such AI use cases, Tractica forecasts that revenue from automotive AI software, hardware, and services will increase from $2 billion in 2018 to $26.5 billion by 2025, representing a compound annual growth rate (CAGR) of 46.9%.

 

“Beyond self-driving vehicles, AI can also be used to make life in the car more convenient and safer, for both the driver and the passengers,” says principal analyst Keith Kirkpatrick. “In-car assistants, driven by natural language processing and machine learning techniques, allow the vehicle’s systems to respond to voice commands and infer what actions to take, without human intervention. Meanwhile, behind the scenes, AI will be increasingly utilized to enable a wide range of automated vehicle safety and maintenance capabilities.”

Fierce AI Week

Register today for Fierce AI Week - a free virtual event | August 10-12

Advances in AI and Machine Learning are adding an unprecedented level of intelligence to everything through capabilities such as speech processing and image & facial recognition. An essential event for design engineers and AI professionals, Engineering AI sessions during Fierce AI Week explore some of the most innovative real-world applications today, the technological advances that are accelerating adoption of AI and Machine Learning, and what the future holds for this game-changing technology.

 

For more details, an Executive Summary of the “Artificial Intelligence for Automotive Applications” report is available.

Suggested Articles

Test automation won't fix everything, but can help, according to an automation engineer. Here are five problems to avoi to improve chances of success

Many of Nvidia’s competitors also use Arm designs, and are sure to object to the deal

COVID-19 buyers are pumping cash into PCs and monitors, not smartphones, to support work and school from home