The North America Automotive Artificial Intelligence Market would witness market growth of 20.1% CAGR during the forecast period (2022-2028).
Autonomous cars utilize a multitude of diverse components. For example, Google's autonomous car prototypes utilize radar, sonar, and cameras. These sensors gather data from the surrounding environment and transmit it to the software, which interprets the information and sends signals to the actuators that regulate operations like braking and acceleration.
Safety is among the most significant advantages of AI in the automobile sector. AI can assist in reducing accidents and enhancing driving safety. Waymo, a subsidiary of Google, is building an autonomous driving system which employs deep learning to interpret sensor and camera data. The device is supposed to be capable to recognize and avoid possible road dangers.
AI can also assist in enhancing consumer happiness. Mercedes-Benz, for instance, is utilizing AI to create a system that can deliver information on the automobile and its surroundings, as well as answer the driver's inquiries. The objective is to increase client happiness by offering a more customized experience.
The Canadian automobile market is the second biggest in North America. Imports account for around 75 percent of the new car market. The majority of global automobile manufacturers are located in Canada, like General Motors, Ford, Stellantis, Toyota, and Honda, who operate five local assembly lines. The Canadian government aims to achieve carbon neutrality by 2050 and has earmarked substantial infrastructure & green economy investment funds in its budgets for 2021 and 2022. Canadian subsidiaries of U.S. manufacturers, have made considerable expenditures to ready their manufacturing lines for electric vehicles.
The US market dominated the North America Automotive Artificial Intelligence Market by Country in 2021; thereby, achieving a market value of $1,831 million by 2028. The Canada market is experiencing a CAGR of 22.8% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 21.7% during (2022 - 2028).
Based on Application, the market is segmented into Human–Machine Interface, Driver Monitoring, Autonomous & Semi-autonomous Driving, Identity Authentication, and Autonomous Driving Processor Chips. Based on Process, the market is segmented into Signal Recognition, Image Recognition, and Data Mining. Based on Technology, the market is segmented into Deep Learning, Machine Learning & Computer Vision, Natural Language Processing, and Context- aware Computing. Based on Offering, the market is segmented into Software and Hardware. Based on Component, the market is segmented into Graphics Processing Unit (GPU), Microprocessors (Including ASIC), Field Programmable Gate Array (FPGA), Memory & Storage Systems, Image Sensors, Biometric Scanners, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Automotive Artificial Intelligence Market is Estimated to reach $7.5 Billion by 2028, at a CAGR of 21.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, Google LLC (Alphabet, Inc.), Intel Corporation, Qualcomm Inc., Nvidia Corporation, Harman International Industries, Inc. (Samsung Electronics Co., Ltd.), Hyundai Motor Company, Mitsubishi Electric Corporation and Tesla, Inc.
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