Automotive AI Software & Hardware Market Set To Soar

(anon)

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.”

Free Newsletter

Like this article? Subscribe to FierceSensors!

The sensors industry is constantly changing as innovation runs the market’s trends. FierceSensors subscribers rely on our suite of newsletters as their must-read source for the latest news, developments and analysis impacting their world. Register today to get sensors news and updates delivered right to your inbox.

 

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

Suggested Articles

Swan letter also calls for continued support of immigration programs needed by Intel and other tech companies

Analysts see 12% wearable growth annually in coming years, as sensors for wearables get traction in hearables, clothing, and health monitoring

FAA’s recent decision ungrounding MAX aircraft could be appealed; a federal lawsuit seeks full release of FAA review of Boeing updates, including MCAS