In-Cabin Automotive AI Market 2020-2027

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In-Cabin Automotive AI Market, By Product,
Trend Analysis, Market Share Forecast,
2020-2027
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Industry Trends Forecast Report 2027 A recent
study conducted by the strategic consulting and
market research firm BlueWeave Consulting revealed
that the global in-cabin automotive AI
market was worth USD 63.1 million in the year
2020. It is estimated to grow at a CAGR of 42.0,
earning revenue of around USD 731.9 million by
the end of 2027. The growth can be attributed to
factors such as a growing number of automobile
products as well as expanding safety features to
ensure the safety of people inside the vehicle.
Additionally, increasing road accidents and
stringent government regulations driving the
adoption of driver monitoring systems and other
applications are also contributing to the growth
of the global in-cabin automotive AI market.
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Growth drivers Expanding Automobile
Manufacturing Operations The flourishing
automobile industry is presenting favorable
growth opportunities to the global in-cabin
automotive AI market growth. Increasing
automotive production is boosting the demand for
components used in in-cabin AI systems, thus
influencing its market growth. Emerging economies
like China, Japan, and South Korea are investing
significantly in establishing plants at various
locations. Additionally, steps are being taken to
install advanced technologies like automotive
in-cabins to maximize safety, which is set to
boost the growth of the in-cabin automotive AI
market.
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Restraints Cost Influence of The In-Cabin
Automotive AI The in-cabin automotive AI
involves various components,such as infrared LED
detectors, CCD cameras, etc. The driver
monitoring system also uses flashlights and
warning sounds to alert the drivers. These are
extremely advanced components, the installation
of which ultimately will increase the price of
the final product. This acts as a major hindrance
to the adoption of the in-cabin automotive AI
market. Moreover, the high price of this vehicle
restricts its adoption to the top luxury brands
such as BMW, Lexus, Cadillac, etc.
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Impact of COVID-19 on Global In-Cabin Automotive
AI Market In the wake of the COVID-19 pandemic,
the global in-cabin automotive AI market has been
severely impacted. During the lockdown, all
automobile manufacturing operations were halted
as a result of social distancing protocols and
labor limitations. Furthermore, China is one
leading provider of in-cabin automotive AI
products. Due to the virus outbreaks in this
region and the complete ban on imports and
exports of goods from this region, the whole
supply chain was disrupted, causing severe losses
for the industry players of the in-cabin
automotive AI market.
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Global In-Cabin Automotive AI Market - Regional
Insights Geographically, the global in-cabin
automotive AI market is segmented into North
America, Europe, Asia-Pacific, Latin America, and
Middle-East Africa. Europe holds the largest
market share with several luxury car brands that
focus on enhancing safety features and the
driving experience. Furthermore, the strong
economic foothold of Europe and the high
disposable income of citizens is also influencing
the demand for in-cabin automotive AI
technologies, such as image/sensors, cameras,
infrared sensing, strain gauges, etc., propelling
the overall market growth in this region.
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Competitive Landscape The leading players in the
global in-cabin automotive AI market are Visteon
Corporation, Renesas Electronics Corporation,
Ambarella, QUALCOMM Incorporated, Seeing Machines
Limited, Eyeris, Aptiv plc, ZF Friedrichshafen
AG, Eyesight Technologie, NXP Semiconductors
N.V., Valeo, Denso Corporation, Faurecia, Robert
Bosch GmbH, Hyundai Mobis, and other prominent
players. Sample Copy of the Report
https//www.blueweaveconsulting.com/report/global
-in-cabin-automotive-ai-market/report-sample
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