Automotive AI Statistics 2023
- Automotive AI industry grew from $16.7 billion in 2022 and should reach around $62.7 billion by 2023
- The global automotive AI market size was valued at $12.70 billion in 2020 and is expected to reach $62.79 billion in 2023, with a CAGR of 33.2%.
- The increased prevalence of AI in the automotive industry is driven by the rising demand for autonomous vehicles, safety concerns and the advancements of AI technologies.
- AI is being used in the automotive industry in ADAS (Advanced Driver Assistance systems) to reduce the risk of accidents, improve fuel efficiency and help navigate congested roads.
- AI can potentially revolutionize the way we get around, by reducing vehicle collisions, speeding up response times for emergency situations and optimizing fuel efficiency.
- By 2024, the number of vehicles on the road featuring AI-powered technology is estimated to quadruple
- Vehicle AI is growing at a CAGR of 33.2% during the forecast period 2020-2023
With the advances of Artificial Intelligence, the automotive industry is poised to revolutionize the way we drive, ride and travel in the coming decade. By 2023, the number of vehicles on the road featuring AI-powered technology is estimated to quadruple. From autonomous driving to predictive maintenance, Artificial Intelligence is set to bring a new level of safety, convenience, and efficiency to the automotive industry. In this article, we explore the top AI-driven automotive stats for 2023, providing insight into the potential of this groundbreaking technology.
Key Automotive AI Stats 2023
Automotive AI is one of the most prevalent disruptive technologies in the automotive industry. The global us of automotive artificial intelligence market size was valued at $12.70 billion in 2020 and is expected to reach $62.79 billion in 2023, growing at a CAGR of 33.2% during the forecast period 2020-2023. The increasing demand for autonomous vehicles, rising safety concerns, and advancements in artificial intelligence technologies are driving the growth of this market.
Autonomous vehicles are designed to utilize self-driving technologies, such as deep learning algorithms, sensor fusion, and computer vision, to enable them to navigate obstacles and objects while following speed regulations. Increasing importance is being placed on the driver and passenger safety, driving the demand for autonomous vehicles.
The research also projects that the automotive artificial intelligence market will have a positive outlook over the forecast period from 2020 to 2023. Artificial intelligence in the automotive industry will enable manufacturers to build more advanced driver-assistance systems and offer faster, more accurate, and better-automated services.
One example of how AI is being used in the automotive industry is ADAS (Advanced Driver Assistance systems). ADAS enable vehicles to recognize patterns in their environment, allowing them to interact with other objects on the road. This can help reduce the risk of accidents and improve fuel efficiency. Furthermore, AI-enabled vehicles can also be used in smart cities, allowing autonomous cars to navigate congested roads, thus reducing traffic congestion efficiently.
The use of AI in the transporation industry will revolutionize the way we get around and provide safer, more efficient journeys. For example, AI-driven vehicles can help reduce vehicle collisions, speed up emergency response times, and optimize fuel efficiency. As technology continues to develop, it can have some impactful benefits on the automotive industry.
Automotive (AI) Artificial Intelligence Facts
The increased prevalence of AI in the automotive industry is driven by the rising demand for autonomous vehicles, safety concerns, and advancements in AI technologies. The global automotive AI industry grew from $16.7 billion in 2022 and should reach around $62.7 billion by 2023. It shows a clear trend of increased exploitation of AI in the automobile industry.
Car AI can contribute to many aspects of the automotive industry, such as improving driver and passenger safety, optimizing fuel efficiency, and creating autonomous vehicles. Therefore, Vehicle AI is undeniably becoming an increasingly essential part of the automotive industry, and its impact will only increase shortly.
Cited Sources:
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