AI in Automotive Market Emerging Trends and Growth Factors Analysis over 2020 - 2026

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By 2026, AI in Automotive Market to Register 38
CAGR Via semi-autonomous vehicles segment
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Industry Overview

• Artificial Intelligence (AI) in Automotive Market
  from the semi-autonomous vehicles segment is
  projected to witness remarkable growth, with more
  than 38 CAGR by the year 2026
• The automobile market is seeing a constant rise
  in demand for AI-powered driving systems. In
  fact, several car manufacturers are now working
  on updating their driver assistance technologies
  to offer customers with more comfortable and safe
  driving experience.
• Recently, Intel launched a new AI-enabled chip,
  Pohoiki Beach, which could rapidly scale up to
  10,000 times faster computing speed using 8
  million neural networks. With increasing use of
  sensors like LiDAR and ultrasonic sensors as well
  as high-resolution cameras for developing
  next-gen vehicles, the AI hardware industry may
  strive significant proceeds in the coming years.

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Continue

• Based on process, the image/signal recognition
  segment is expected to witness sizable growth
  over the forthcoming years. In 2019, the segment
  had garnered over 65 share in AI in automotive
  market. Surging concerns regarding on-road
  accidents and over-speeding have infused the need
  for traffic signs speed limit indicators. These
  systems use image/signal recognition technologies
  to detect traffic signals and minimizes the
  vehicles speed automatically. Favorable federal
  initiatives to promote traffic sign recognition
  for speed checks could propel the product demand
  in the long run.
• Recently, the European Commission enforced
  automakers to provide a built-in image/signal
  recognition feature in their vehicles by 2022.
  This would help minimize the cases of rash
  driving and endorse the idea of on-road safety.

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Industry Player Overview

• Speculating growing demand for advanced
  automotive systems, industry players have started
  to invest heavily in RD activities. A few of the
  prominent players in the AI in automotive
  industry include Audi AG, Alphabet Inc., Daimler
  AG, BMW AG, Ford Motor Company, Didi Chuxing,
  Harman International Industries Inc., General
  Motors Company, IBM Corporation, Honda Motor Co.,
  Ltd., Microsoft Corporation, Intel Corporation,
  Qualcomm Inc., NVIDIA Corporation, Toyota Motor
  Corporation, Tesla, Inc., Volvo Car Corporation,
  Xilinx Inc. and Uber Technologies.

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