In-vehicle AI Robot Market is predicted to reach USD 0.27 Billion at a CAGR of 19.36% during the forecast period

Pune, India, Nov 2022, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global In-vehicle AI Robot Market.

In-vehicle AI Robot Market

Modern automotive industry is witnessing immense technological advancements especially towards automation and intelligence in the vehicle. In-vehicle AI robot refers to the cutting-edge technology that enables automobile to operate autonomously without any human guidance. It can operate and control different functions using various sensors and electronic control units (ECUs). In-vehicle Al robots consists of highly precise sensors, algorithms, microprocessors etc., these devices communicate with each other mostly through Controlled Area Network (CAN) protocol in order to control various inter-dependent operations such as braking, acceleration, steering etc. In-vehicle AI systems such as advanced driver assistance systems (ADAS), and driver monitoring systems are catching maximum attention withing the automotive industry.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of In-vehicle AI Robot Market Research Report

Market Synopsis

According to the MRFR analysis, the global in-vehicle AI robot market value is projected to reach USD 0.27 Billion by 2030 at a CAGR of 19.36%.

In-vehicle AI Robot Market is primarily driven by promising safety features that AI-powered vehicle offers by eliminating human errors, and increased demand for automated operations especially in the luxury cars. However, increased overall cost of the automotive vehicle is likely to hinder the market growth in the affordable vehicle category. Continuous improving robot capabilities due to innovations in the artificial intelligence industry is anticipated to create huge opportunities for the market players.

Governments and key regularity bodies in various countries are promoting use of artificial intelligence powered autonomous vehicle, ADAS system, driver monitoring systems, AI enabled airbags etc. in order to curtail on road accidents which has bolstered the market in recent times. In-vehicle AI robot market is completely dependent on automotive industry, therefore, hampered speed of automotive vehicle sales in several countries amid pandemic caused by spread of coronavirus affected the market significantly. However, the market has started to rebound, and it is showcasing promising growth throughout the forecast period.

In-vehicle AI Robot Market Competitive Landscape

The global in-vehicle AI robot market is less fragmented in nature, and it is characterized by specialized players in the artificial intelligence industry. The market is moderately competitive, at the same time it is being driven by technological advancements offered by manufacturers, therefore, leading players are investing more on research & development of their product. However, ongoing crisis pertaining shortage of semiconductor material is likely to restrain the market growth. The vendors compete in terms of advancement, cost, product quality, reliability, and after-market services. Motional Inc., Nauto Inc., AutoX Inc., MG Motor India Pvt. Ltd. (SAIC Motor Corp. Ltd.), Predii Inc., Refraction AI Inc., Waymo LLC (Alphabet Inc.), Optimus Ride, Robert Bosch GmbH and Zoox Inc. (Amazon.com Inc) are some of the key players operating in the global in-vehicle AI robot market.

Segmentation:

In-vehicle AI Robot Market By Autonomous Level

• Level 1 and 2: Level 1 and 2 are the lowest levels of automation. In level 1, the vehicle features a single automated system such as steering, acceleration or cruise control. While level 2 is partial driving automation, in which the vehicle can control both steering, and acceleration. Level 1 & 2 are human monitored and controlled automotive systems.


• Level 3: Level 3 of automation is substantial advanced from level 1 and 2. Level 3 is capable of environment detection, and it can perform most of driving tasks also it can make decisions for themselves. However, for level 3 automation, human guidance or override is required for smooth operation of the vehicle.


• Level 4: Level 4 of automation is high driving automation, and it can intervene if things go undesired or occurrence of system failure. Vehicles with level 4 automation do not require human interaction in most of situations. However, it also has to manually override.


• Level 5: Level 5 of automation is full driving automation, and it does not require human attention as it eliminates dynamic driving task. These vehicles are capable of performing all driving tasks under all conditions.

In-vehicle AI Robot Market Based on vehicle category:

• Passenger Cars: Vehicles designed and manufactured for the carriage of passengers and having not more than eight seats and has maximum mass of 3.5 tonnes are called as passenger cars. Passenger cars are the largest selling automotive vehicles in globe.


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• Compact & Mid-sized: A passenger car which has 100 to 109 cubic feet of volume, and it is 161 to 187 inches long in size is called as compact cars. While a passenger car which has 110 to 120 cubic feet volume and is no longer than 196.8 inches is called as mid-sized passenger car. These cars are also categorized as affordable cars.


• Premium & Luxury: passenger cars which provide increased levels of amenities, comfort, quality, and performance are categorized as premium and luxury passenger cars. These are cars mostly equipped with automated systems which improves user experience as compared to other cars.


• SUVs: A sports utility vehicle or SUV is a passenger car which combines elements of on-road passenger cars with features of off-road vehicles such as four-wheel drive and ground clearance.


• Commercial Vehicle: A type of automotive vehicle which is typically used for transportation of goods as well as paying passengers is considered as commercial vehicles. These types of vehicles are indirectly the backbone of economy of any country.


• LCVs: Light Commercial Vehicle or LCVs are the vehicles which are used as commercial carrier with maximum vehicle weight of 3.5 tonnes. LCVs include pickup trucks, vans, three-wheelers. These types of vehicles can be used for the transportation of both goods and paying passengers.


• HCVs: Heavy Commercial Vehicles or HCVs are the vehicles which are used for transportation of goods or property and has weight more than 3.5 tonnes. HCVs include heavy duty trucks, trailer-truck, box truck, dump truck etc.


• Buses & Coaches: a bus is a road vehicle that is capable of significantly carrying a greater number of passengers as compared to a passenger car or van. It is most popularly used for public transport.

In-vehicle AI Robot Market Based on vehicle propulsion:

• Electric vehicle: The EV segment comprises hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). HEVs are EVs that combine an IC engine system with an electric system and are powered by both fuel and electricity. This combination is designed to provide several advantages, such as increased power and improvement in fuel economy. PHEVs are EVs in which the electric motor features a battery that is charged by plugging into an external electrical power source.


• ICE vehicle: An ICE vehicle converts the stored energy in fuel to heat, which is then converted to mechanical power to drive the vehicle. This type of vehicle uses gasoline or diesel as fuel to power the engine.

In-vehicle AI Robot Market Based on region:

• North America: North America is anticipated to be the largest contributor to the in-vehicle AI robot market. This includes US, Canada, and Mexico. The significant factor propelling the growth of the market is growing awareness for improved safety levels of automotive vehicles in the region. In addition to this, rising demand for automation in vehicle several in-vehicle operations are likely to skyrocket the market in North America during the forecast period.


• Europe: Europe is expected to hold significant market share in the global in-vehicle AI robot market. This is attributed to European Union’s positive approach towards autonomous vehicles in order to reduce accidental fatality rate as autonomous cars are less prone to accidents. Developed countries such as Germany, UK, France, Italy, and Spain are the largest stake holders of the regional market.


• Asia-Pacific: Asia-Pacific region is predicted to create significant opportunity for the manufacturers within the in-vehicle AI robot market as the region is largest producer and consumer of the automotive vehicles. Countries like China, India, Japan, South Korea, and Australia are expected to contribute maximum in the regional market.


• Middle East & Africa: The size of the Middle East & Africa in-vehicle AI robot market is moderate as compared to other regions. This is attributed to lower production of automotive in the region as well as low human development index. However, the region is expected to showcase marginal growth during the forecast period. Countries like South Africa, and UAE are the key contributor to the market.


• South America: South America is likely to register steady growth rate during the forecast period. The region’s market is driven by countries like Brazil, and Argentina. The regional market is predicted to hold significant share of the global market.