According to the latest report by IMARC Group, titled “In-vehicle AI Robot Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global in-vehicle AI robot market is expected to exhibit a CAGR of 17.55% during 2022-2027. AI robots in automobiles refer to the advanced technology that enables the car to run independently without the need for manual intervention. With closed-loop controls, it responds to external conditions and surroundings by detecting and sensing them in real-time. To gather information and perform tasks and responsive actions, such as braking, steering, and acceleration, in-vehicle AI robots employ high-end sensors, complex algorithm processors, advanced driver assistance systems (ADAS), and smart control systems and actuators. As automotive artificial intelligence becomes more prevalent, various companies will be able to track their operations, improve the user experience, and develop autonomous and semi-autonomous vehicles.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global In-vehicle AI Robot Market Trends:
The market is primarily driven by the growing adoption of AI technology for facilitating safe and efficient modes of transportation. This can be attributed to considerable growth in the automotive and transportation sector. In addition to this, rapid digitization in the automotive systems, along with the introduction of connected cars and self-driving or driverless vehicles, is propelling the market. Continual product innovations and the integration of additional features on a vehicle, including adaptive algorithms, machine learning, advanced camera and sensor processing, and internet connectivity, are also impacting the market positively. Moreover, the escalating demand for real-time high-definition (HD) 3D mapping of the surroundings to reduce road accidents are providing an impetus to the market. Some of the other factors contributing to the market growth include the rising sales of EVs and luxurious vehicles, the rising popularity of Light Detection and Ranging (LiDAR) and Radio Detection and Ranging (RADAR) sensing solutions, favorable government initiatives supporting product adoption, and extensive research and development (R&D) activities.
- Based on the autonomous level, the market has been segmented into level 2 and 3, and level 4 and 5.
- On the basis of the vehicle category, the market has been divided into passenger cars (compact and mid-sized, premium and luxury, and SUVs) and commercial vehicles (LCVs, HCVs, and buses and coaches).
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include AutoX Inc., MG Motor India Pvt. Ltd. (SAIC Motor Corp. Ltd.), Motional Inc., Nauto Inc., Predii Inc., Refraction AI Inc., Waymo LLC (Alphabet Inc.) and Zoox Inc. (Amazon.com Inc).
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