Applied AI in Autonomous Vehicles Market Size

Applied AI in Autonomous Vehicles Market Overview

Applied AI in Autonomous Vehicles Market Size was valued at USD 1.24 billion in 2022. The Applied AI in Autonomous Vehicles Market industry is projected to grow from USD 1.42 billion in 2023 to USD 11.94 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 26.6% during the forecast period (2023 - 2032).

The practical application of artificial intelligence technology to allow self-driving capabilities and improve various elements of autonomous vehicle operation is referred to as applied AI in autonomous cars. This entails using AI algorithms, machine learning techniques, and powerful data processing to develop cars that can navigate, sense their surroundings, make judgments, and interact with their environments without the need for human interaction. To accurately detect the vehicle's surroundings, AI algorithms process data from sensors such as LiDAR, radar, cameras, and ultrasonic sensors. Sensor fusion techniques combine data from various sensors to provide a complete and trustworthy picture of the environment.

FIGURE 1: APPLIED AI IN AUTONOMOUS VEHICLES MARKET SIZE 2019-2032 (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Applied AI in Autonomous Vehicles Market Trends

Increasing use of ML

The application of machine learning techniques in autonomous vehicles for decision making is becoming more complex. Vehicles are using reinforcement learning and deep reinforcement learning algorithms to make sophisticated driving decisions and adapt to diverse road scenarios. On the road, autonomous vehicles face a wide range of complicated circumstances, from merging lanes and pedestrian interactions to traversing construction zones. Machine learning algorithms enable vehicles to learn from a large quantity of training data and effectively adapt to varied conditions. Reinforcement learning is used to educate self-driving cars how to conduct actions through trial and error. Vehicles can learn optimal behavior by getting feedback from their surroundings without the need for explicit programming. Autonomous vehicles must be able to adapt to changing road conditions, weather conditions, and novel scenarios. These cars can continuously learn from their experiences and improve their performance over time thanks to machine learning. Machine learning algorithms are utilized to create path planning and control systems. Deep reinforcement learning and reinforcement learning are used to train models that allow vehicles to negotiate complex and dynamic settings, safely change lanes, and avoid hazards. For high-definition mapping and localization, machine learning is used. SLAM (Simultaneous Localization and Mapping) systems, which employ machine learning approaches, assist autonomous cars in creating and updating maps of their surroundings in real time, allowing for exact location.

Global Applied AI in Autonomous Vehicles Market- Segment Insights

Global Applied AI in Autonomous Vehicles Market- Component

The global Applied AI in Autonomous Vehicles market, in this report, has been segmented based on Component into hardware, software, and services), By Technology (machine learning, natural language processing, computer vision, context-aware computing, and others), By Type (semi-autonomous vehicles and fully autonomous vehicles), By Vehicle Type (passenger vehicle and commercial vehicle.

The segment- Hardware holds the largest share of the total market share while. This is because hardware components such as sensors, actuators, and computer platforms are essential for autonomous vehicle operation. Sensors gather data about the vehicle's surroundings, including the positions of other vehicles, pedestrians, and obstacles. Cameras, radar, and LiDAR are among the most used sensor types in autonomous cars. Computing systems are employed to process sensor data and make decisions regarding the vehicle's movements. GPUs, CPUs, and FPGAs are the most prevalent computer platforms used in autonomous vehicles.

Global Applied AI in Autonomous Vehicles Market- Technology Insights

The global Applied AI in Autonomous Vehicles market, in this report, has been segmented based on technology into machine learning, natural language processing, computer vision, context-aware computing, and others.

Machine learning holds the largest share of the total share. Machine learning is a subset of artificial intelligence in which computers may learn without being explicitly programmed. As a result, it is well-suited for tasks such as object recognition, categorization, and prediction, all of which are required for autonomous cars. Machine learning algorithms are used to decide the best course of action for the vehicle to take based on its current location and surroundings, as well as to regulate the vehicle's motions such as steering, braking, and accelerating. The rising application of machine learning is driving the growth of the applied AI industry in autonomous cars.

Global Applied AI in Autonomous Vehicles Market- Type Insights

The Applied AI in Autonomous Vehicles market in this report has been segmented on the basis of Material into semi-autonomous vehicles and fully autonomous vehicles.

The semi-autonomous vehicles segment holds 59% of the total share.

Semi-autonomous vehicles offer a practical, quick solution to the need for on-demand mobility. Semi-autonomous vehicles are safer and easier to maintain than fully automated vehicles, in addition to being sustainable, autonomous, and handy. As a result, safety concerns are propelling this segment's market expansion. Semi-autonomous vehicles are outfitted with sensors and software that enable them to conduct duties like lane maintaining, adaptive cruise control, and automatic emergency braking. These elements can aid in the reduction of accidents and the improvement of traffic flow.

Global Applied AI in Autonomous Vehicles Market- Vehicle Type Insights

The Applied AI in Autonomous Vehicles market in this report has been segmented on the basis of vehicle type into passenger vehicle and commercial vehicle.

The passenger vehicle segment holds the largest share of the total market share.

Passenger vehicles now account for a sizable portion of the industry, while AI usage in commercial vehicles grows. AI integration has been implemented in passenger vehicles such as cars and motorcycles.AI has the potential to significantly improve the convenience and safety of passengers traveling in any vehicle. In ADAS, AI is commonly utilized to analyze data from numerous sensors such as cameras, radars, and LiDAR’s. AI is utilized to create algorithms that can plan the actions of a vehicle based on its awareness of its surroundings. This involves duties like route planning, changing lanes, and avoiding obstacles. The increasing demand for safer and more efficient transportation is driving the growth of the applied AI in autonomous cars market in the passenger vehicle sector.

FIGURE 2: GLOBAL APPLIED AI IN AUTONOMOUS VEHICLES MARKET, BY END USER, 2022 VS 2032 (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Global Applied AI in Autonomous Vehicles Market- Regional Insights

Based on Region, the global Applied AI in Autonomous Vehicles is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Further, the major countries studied in the market report are the U.S., Canada, Germany, UK, Italy, Spain, China, Japan, India, Australia, UAE, and Brazil.

The North America Applied AI in Autonomous Vehicles market is having largest share. It can be attributed to the early adoption of technological innovations such as artificial intelligence and analytics. The region's growth will be fueled by increased hiring in AI roles in the automobile industry. Furthermore, North America has long been a pioneer in the automated vehicle sector, with the west coast of the United States' tech centers contributing significantly to self-driving technology. The United States is leading the race to make autonomous vehicles safe, with businesses like Uber and Tesla making headlines for their achievements and mistakes.

The Asia Pacific Applied AI in Autonomous Vehicles market is having highest growing rate. The rapid expansion of the region can be ascribed to increased sales of premium passenger autos, rising disposable income, and a favorable consumer perception of AI. The region's rising sales of luxury passenger vehicles outfitted with advanced AI technologies have drawn customers looking for better driving experiences. The increased discretionary income of consumers to acquire technologically advanced vehicles is boosting demand for AI-driven automotive solutions. Furthermore, positive customer views of AI in the automobile sector, which provides convenience, safety, and tailored experiences, have fueled market growth.

FIGURE 3: APPLIED AI IN AUTONOMOUS VEHICLES MARKET SIZE BY REGION 2022 VS 2032, (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Global Applied AI in Autonomous Vehicles Market- Key Market Players and Competitive Insights

The market for Applied AI in Autonomous Vehicles is fiercely competitive, with numerous companies providing metal parts and components to the automotive sector. The industry showcases established and large players alongside a multitude of smaller and emerging firms. These entities are dedicated to advancing innovative stamping technologies and processes, aiming to enhance efficiency, reduce expenses, and elevate the quality of metal parts. Their priority lies in adhering to stringent environmental and safety regulations governing the automotive domain.

Competition within the Applied AI in Autonomous Vehicles sector is propelled by factors such as pricing, quality, prompt delivery, and the capability to offer tailored solutions to clients. Collaborations with industry counterparts like OEMs and suppliers stand as essential strategies for maintaining competitiveness. Mergers and acquisitions are prevalent as companies aim to broaden their influence and capabilities. Concurrently, considerable investments are channeled into research and development to pioneer novel materials and technologies that heighten the performance, endurance, and safety of metal components.

Global Applied AI in Autonomous Vehicles Market- Key Companies Include

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  Alphabet

  
  


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  Tesla

  
  


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  Baidu

  
  


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  Ford

  
  


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  Mircosoft

  
  


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  Volvo

  
  


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  Toyoto

  
  


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  Aptiv

  
  


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  Intel

  
  


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  Continental

  
  


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  Bosch

  
  


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  Nvidia.

  
  

Global Applied AI in Autonomous Vehicles Market- Market Segmentation

Global Applied AI in Autonomous Vehicles Market- Component Outlook

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  Hardware

  
  


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  Software

  
  


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  Services

  
  

Global Applied AI in Autonomous Vehicles Market- Technology Outlook

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  Machine Learning

  
  


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  Natural Language Processing

  
  


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  Computer Vision

  
  


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  Context-Aware Computing

  
  


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  Others

  
  

Global Applied AI in Autonomous Vehicles Market- Type Outlook

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  Semi-autonomous Vehicles

  
  


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  Fully autonomous Vehicles

  
  

Global Applied AI in Autonomous Vehicles Market- Vehicle Type Outlook

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  Passenger Cars

  
  


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  Commercial Vehicles

  
  

Global Applied AI in Autonomous Vehicles Market- Regional Outlook

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  North America

  
  
  
  
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    US

    
    
  
  
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    Canada

    
    
  
  
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    Mexico

    
    
  
  
  
  


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  Europe

  
  
  
  
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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  


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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Middle East & Africa

  
  
  
  
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    Saudi Arabia

    
    
  
  
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    UAE

    
    
  
  
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    South Africa

    
    
  
  
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    Rest of the Middle East & Africa

    
    
  
  
  
  


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  South America

  
  
  
  
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    Brazil

    
    
  
  
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    Argentina

    
    
  
  
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    Chile

    
    
  
  
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    Rest of South America