Driving the Future: Automotive AI Chipset Market Forecasted to Hit $25.9 Billion by 2034 (Computers - Information Technologies)
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Driving the Future: Automotive AI Chipset Market Forecasted to Hit $25.9 Billion by 2034 | |
The global automotive AI chipset market is anticipated to reach a valuation of US$ 3.5 billion in 2024, driven by human-machine interface enhancement. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 22.1% between 2024 and 2034 and reaching a total valuation of approximately US$ 25.9 billion by 2034. Request Exclusive Sample Report: Automotive AI Chipset Market Strategic Insights: https://www.futuremarketinsights.com/reports/sample/rep-gb-18604 Two major factors contributing to the market’s growth are long-term evolution and 5G connectivity. The rollout and widespread adoption of high-speed LTE and 5G connectivity can significantly impact the capabilities of AI applications in vehicles. Faster and more reliable data transmission enables real-time communication, enhancing the effectiveness of AI algorithms. The availability of open-source AI platforms and development tools facilitates innovation and collaboration within the automotive industry. Developers and manufacturers can leverage these tools to accelerate the integration of AI chipsets into vehicles. AI chipsets enable predictive maintenance systems that anticipate and address vehicle maintenance issues before they become critical, reducing downtime, extending vehicle components’ lifespan, and enhancing overall reliability. Sensor fusion, combining data from various sensors like cameras, radar, and LiDAR, is crucial for comprehensive perception in autonomous vehicles. AI chipsets can enhance sensor fusion capabilities, enabling more accurate and reliable environmental understanding. The integration of augmented reality in head-up displays is becoming more prevalent for providing drivers with real-time information without distraction. AI chipsets contribute to the processing power needed for AR applications, enhancing safety and user experience. Blockchain technology is being explored to enhance data security and integrity in the automotive industry. AI chipsets can play a role in supporting blockchain implementations for secure and transparent data management. “Driver monitoring systems, powered by AI chipsets, can monitor driver behavior, alertness, and attention. The technology is crucial for enhancing safety by preventing accidents caused by driver fatigue or distraction,” says Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Key Takeaways from the Market Study Global automotive AI chipset market was valued at US$ 2.9 billion by 2023-end. From 2019 to 2023, the market demand expanded at a CAGR of 18.4%. The market in Australia is expected to expand at a CAGR of 26.6% through 2034. By vehicle type, the passenger type segment to account for a share of 72.0% in 2024. From 2024 to 2034, automotive AI chipset market is expected to flourish at a CAGR of 22.1%. By 2034, the market value of automotive AI chipset is expected to reach US$ 25.9 billion. Competitive Landscape Prominent players in the automotive AI chipset market are Advanced Micro Devices Inc., Xilinx Inc., Graphcore Ltd, Huawei Technologies Co. Ltd, IBM Corporation, Intel Corporation, NVIDIA Corporation, Micron Technology Inc., Samsung Semiconductor (Samsung Electronics Co. Ltd), Qualcomm, NVIDIA, NXP Semiconductors, and Mobileye, among others. Top of Form Recent Developments In 2022, Mobileye unveiled the EyeQ® Ultra™, marking the cutting-edge and highest-performing system on chip of the company, specifically designed for autonomous driving. The EyeQ Ultra stands out with a remarkable 176 TOPS, and is an efficient chip for autonomous vehicles. In 2021, Qualcomm Technologies, Inc. and General Motors reaffirmed their ongoing collaboration to enhance forthcoming vehicles’ experiences. Leveraging their extensive partnership that spans various cellular technology generations, the two companies will employ their expertise to incorporate highly advanced technologies essential for the next generation of vehicles. Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis. | |
| Target State: All States Target City : All Cities Last Update : Feb 26, 2024 10:25 AM Number of Views: 85 | Item Owner : Sudip Saha is the managing director and co-founder at Future Market Insights Contact Email: (None) Contact Phone: (None) |
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