How the AI in Automotive And Transportation Market is Positioned for Growth: Trends, Market Size, and Future Opportunities (2025-2034)
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Industry-Specific Factors Are Fueling the Growth of theAI in Automotive And Transportation Market?
The growth of the AI in automotive and transportation market is expected to be spurred by the rising demand for autonomous vehicles. These vehicles, which are equipped with sensors, cameras, and artificial intelligence technology, are capable of navigating and operating without human intervention. The growing demand for these vehicles can be attributed to their potential to increase safety, convenience, and efficiency in transportation. By allowing real-time perception of surroundings through sensor data analysis and decision-making, AI enables these vehicles to operate safely and efficiently without human intervention. For example, a report published in December 2022 by the Insurance Institute for Highway Safety, a non-profit organization based in the US, projected that by 2025, there will be 3.5 million autonomous vehicles on American roads and 4.5 million by 2030. As a result, the rise in the demand for autonomous vehicles contributes to the expansion of the AI in automotive and transportation market.
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How Will the Growth Rate of theAI in Automotive And Transportation Market Impact Industry Trends by 2034?
In recent times, the market size of AI in the automotive and transportation industry has seen substantial growth. It is projected to expand from $11.88 billion in 2024 to $14.28 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 20.2%. Factors contributing to the growth during the historical period include advancement in sensor technologies, increasing popularity of connected vehicles, improvements in machine learning and deep learning, collaborations and partnerships within the industry, and a transition towards mobility services.
Anticipated to experience swift expansion in the upcoming years, the AI in automotive and transportation market is projected to increase to a worth of $29.43 billion by 2029, progressing at a compound annual growth rate (CAGR) of 19.8%. This growth during the projected period can be ascribed to factors such as the surge in autonomous driving research and R&D, the emergence of electric and interconnected vehicles, the evolution of urbanization and smart cities, global megatrends and economic indicators, and growing customer demand for safety and convenience features. The forecast period will also witness significant trends including the incorporation of AI into v2x communication, the application of edge computing for AI, opportunities for data monetization, the integration of urban air mobility (UAM), and advancements in human-machine interaction (HMI).
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What Key Market Trends and Innovations Are Shaping the Future of theAI in Automotive And Transportation Industry?
Key corporations in the AI in automotive and transportation markets are innovating by creating high-tech products such as vehicle search tools to achieve a competitive advantage. Vehicle search tools denot electronic apparatus or software for diagnosing, reprogramming, and interfacing with vehicle control units in these sectors. One such example is Rodo, an American automotive technology organization, which introduced an AI-backed vehicle search tool in February 2024. This innovative platform revolutionizes the way vehicles are searched by providing an unmatched level of simplicity and convenience, empowering customers with accurate insights about competitively priced vehicles over the internet. It guarantees immediate, personalized outputs, and competitive rate, emulating the in-shop interaction between a customer and sales rep. The platform uses its AI technology to respond to peculiar customer inquiries promptly, offering a faster, smarter vehicle search experience.
Which Companies Are Leading the Charge in Expanding theAI in Automotive And Transportation Market Growth?
Major companies operating in the AI in automotive and transportation market are Alphabet Inc., Toyota Motor Corporation, Microsoft Corporation, Bayerische Motoren Werke AG, Robert Bosch GmbH, Tesla Inc., Siemens AG, Intel Corporation, International Business Machines Corporation (IBM), AUDI AG, Denso Corporation, Qualcomm Technologies Inc., Continental AG, Uber Technologies Inc., Micron Technology Inc., Volvo Cars, NVIDIA Corporation, Valeo SA, Harman International, Otto GmbH, Scania AB, Argo AI LLC, CarVi Inc., Arbe Robotics Ltd., Visteon Corporation
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How is the Global AI in Automotive And Transportation Market Segemented?
The AI in automotive and transportation market covered in this report is segmented –
1) By Offering: Hardware, Software
2) By Technology: Machine Learning, Natural Language Processing, Computer Vision, Context-Aware Computing, Other Technologies
3) By Application: Human Machine Interface, Driver Monitoring, Driver Or Identity Authentication, Autonomous Driving Processing Chips, Intelligent Traffic Management System
Subsegments:
1) By Hardware: Sensors (LiDAR, Cameras, Radar), Processing Units (AI Chips, Embedded Systems), Actuators, Connectivity Modules (V2X Communication Devices), Power Management Devices
2) By Software: AI-Based Algorithms (Machine Learning Models For Perception, Decision-making), Autonomous Driving Software, Simulation Software, Data Analytics Software, Fleet Management And Optimization Software, Cloud-Based AI Platforms
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Which Geographics are Influencing the Growth of the AI in Automotive And Transportation Market?
North America was the largest region in the AI in automotive and transportation market in 2023. The regions covered in the AI in automotive and transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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