Automotive Artificial Intelligence Software, Hardware, and Services Market to Reach .5 Billion by 2025, According to Tractica | Financial Buzz

Automotive Artificial Intelligence Software, Hardware, and Services Market to Reach $26.5 Billion by 2025, According to Tractica

The automotive industry is among the sectors at the forefront of using
artificial intelligence (AI) to mimic, augment, and support the actions
of humans, while simultaneously leveraging the advanced reaction times
and pinpoint precision of machine-based systems. Indeed, today’s
semi-autonomous vehicles and the fully autonomous vehicles of the future
will rely heavily on AI systems.

However, according to a new report from Tractica,
while autonomous driving will be a leading impetus for AI spending in
the automotive industry, the use cases for AI in vehicles are in fact
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.

All told, across 15 such AI use cases, Tractica forecasts that revenue
from automotive AI software, hardware, and services will increase from
$2.0 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.”

Tractica’s report, “Artificial
Intelligence for Automotive Applications”, provides detailed market
forecasts for AI hardware, software, and services in the automotive
market during the period from 2017 through 2025. The technologies
covered include machine learning, deep learning, NLP, computer vision,
machine reasoning, and strong AI. The forecast covers 15 key use cases
for automotive AI, segmented by world region. Profiles are also included
for 31 key participants in the emerging automotive AI market ecosystem.
An Executive Summary of the report is available for free download on the
firm’s website.

About Tractica

Tractica is a market intelligence firm that focuses on human interaction
with technology. Tractica’s global market research and consulting
services combine qualitative and quantitative research methodologies to
provide a comprehensive view of the emerging market opportunities
surrounding Artificial Intelligence, Robotics, User Interface
Technologies, Wearable Devices, and Digital Health. For more
information, visit
or call +1.303.248.3000.

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